Topic: Brain Wallet (Read 1218 times)
In can be done if you use complete sentenses as passwords, that make only sense to you.
Random word and number generators run by hackers can easily steal from brain wallets. I set one up with a very small amount just to see how long it lasted. Took about 2 months but they robbed it. Brain wallets would work if you made up a long phrase and misspelled the words on purpose, but made it to where you could easily remember it. I wouldn't even trust that though. Wallets with 2 factor authorization via text message to log in, and second (different) password to be able to send from the wallet are probably the safest IMO
I don't think you understand how it works. Here's the official wiki for it. Read up here about the pros & cons.
they'll give you some basic idea about it.
they'll give you some basic idea about it.
Brain wallets
Strengths:
Secure against Malware, viruses, trojans, and keyloggers. (As long as keys are generated with secure equipment)
Secure against online theft initiated by hackers or unscrupulous employees and owners of online wallets.
Fairly secure against State and legal theft.
Free to setup
Secure against physical theft but not torture
Weaknesses:
Difficult to remember
risk of forgetting private keys
Difficult to re-import
Risk the passphrase isn't secure
Strengths:
Secure against Malware, viruses, trojans, and keyloggers. (As long as keys are generated with secure equipment)
Secure against online theft initiated by hackers or unscrupulous employees and owners of online wallets.
Fairly secure against State and legal theft.
Free to setup
Secure against physical theft but not torture
Weaknesses:
Difficult to remember
risk of forgetting private keys
Difficult to re-import
Risk the passphrase isn't secure
Why would anyone use anything other than brain wallet? I mean installed on your own computer, not running on someone else's server. Is there some reason why it is not the most secure, easiest to use wallet on the planet?
1) Not secure if you dont use VERY complicated encryption. And Im talking about every possible combination of kjgfwJHGJKYGKU#&^@#%*$TY•§¶ª™∞®†ƒ©˙∆˚˙´in over 250 characters long.
2) For it to be secure you wont memorise that^
Why would anyone use anything other than brain wallet?
Because people are bad at "random". Plenty of brain wallets have been "hacked". I have a hard time calling it a hack honestly, its more like guessing your phrase and boom your bitcoin belong to me now.
I mean installed on your own computer, not running on someone else's server.
installed? I am not sure you understand how a brainwallet works.
Is there some reason why it is not the most secure, easiest to use wallet on the planet?
Please explain what exactly you understand a "brainwallet" as and Ill gladly point out its flaws.
Why would anyone use anything other than brain wallet? I mean installed on your own computer, not running on someone else's server. Is there some reason why it is not the most secure, easiest to use wallet on the planet?
it is the secure as long as you use an strong passphrase and don't forget it. also people need other wallets like online ones to send and receive on daily basis.
Why would anyone use anything other than brain wallet? I mean installed on your own computer, not running on someone else's server. Is there some reason why it is not the most secure, easiest to use wallet on the planet?
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