Sure, but that's a sentence, not a paragraph. A unique sentence of 100 characters is perfectly reasonable as a passphrase.
I'm talking about using something like this:
In my younger and more vulnerable years my father gave
me some advice that I’ve been turning over in my mind ever
since.
“Whenever you feel like criticizing any one,” he told me, “just
remember that all the people in this world haven’t had the ad-
vantages that you’ve had.”
that comes out of the actual book apparently. other copies you might find online do not hypenate the word "advantages". why would they?
A sentence from a popular book is not a particularly good choice of passphrase. Neither are song lyrics, famous quotes, lines from movies, etc. You also need to back up exactly which sentence you used, and in which edition of the book you drew it from.
the only real benefit of them is you're probably not going to lose them. there's always a copy somewhere. how many people come onto bitcointalk who forgot their passphrase or only remember part of it or their dog ate half the piece of paper they wrote it down on? they would give anything to just pickup a copy of the great gatsby and recover their money...
Again, you are assuming everyone has 100% perfect security at all time. If it was easy as just telling people to just double check and verify things properly, then clipboard malware would never be successful and malicious wallet software would not exist. This is just not how the world works.
don't you double check who you're sending your btc too and the address you're giving to someone to send btc to you before you hit the send button? i do. with regard to passphrase entry, if you get it wrong the first time, just enter it again and pay attention a bit more. you have as many tries as you need. unlike with some other things which i wasn't referring to.
But you can not be certain it will remain secret for the rest of your life.
i assume it will remain secret. maybe that is a bad assumption but we have to start from somewhere.
Twelve word seed phrases have a four bit checksum, meaning for any random twelve words there is an average one in sixteen chance that the checksum is valid. Given that you want two valid checksums in this system, then a very rough calculation would be that only one out of every 256 twenty four word seed phrases would meet this criteria.
you have to also add in the 8 bit checksum for the entire 24 words. so that's another factor of 2^8. So 16*16*256=65536. So maybe only 1 in that many would work. that's not a very large reduction in entropy. Basically reducing entropy by 16 bits from 256 to 240. not a huge deal.
The video from Andreas Antonopoulous that I shared in post #15 explains very clearly why both of these are overly cute solutions that actually reduce your security. It's worth the 14 minutes to watch, IMO:
https://www.youtube.com/watch?v=jP7pEgBpaO0I've seen this video before. Andreas is a really smart guy.
- According to Andreas, the best option is to safeguard your words and apply a 6-8 random word passphrase to provide a 2nd layer of protection. Store the seed phrase and pass phrase securely and separately and you've got a good measure of protection that balances solution complexity and security while reducing the risk of permanent loss due to human error. Towards the end of the video, he gives some cautionary examples of how overly complicating the solution can cause you to forever lose access to your crypto.
No one can argue with that. If you want the best security then that's the way to do it