Are you telling me that... the dictionary used in Electrum is well known and available?
So I'm sorry, but this fixed automatic method to generate the seed is TOTAL AND UTTER BULLSHIT and my proposed method is infinitely better.
Why?
Because if I'm an hacker I can just test all the WORDS, I DON'T NEED TO TEST CHARACTER AFTER CHARACTER!
I know the words! So I only need to swap ENTIRE WORDS instead than CHARACTERS, it's so fuckin stupid!
If the dictionary is 1000 words, then the number of possible combinations in the seed is 1000^12!
That's 1 followed by 36 0. I don't say it's little, but it's surely waaaaaay less than a sentence human generated with some punctuation, numbers and caps.
Basically, this automatic seed generation is 12 "bytes" long: the number of words used in the seed! Only a Byte is 256 combinations, while the dictionary has 1000 combinations (I don't know how many words are in the dictionary).
But SURELY this method has NOTHING with testing characters, any hacker could just test WORDS.
Really, I wonder how nobody can see this.
Shit, I thought the dictionary was internal and encripted in the software, this is incredible, an incredible fallacy.
ehhh...how to say this politely...You're wrong.
First of all, its 1626 words. 1626^12 = 3.4 * 10^38.
It's the same as 2^128, or 128 bits of security, which is the same for any bitcoin address
that has already spent funds. ECDSA for Bitcoin is 256 bits which provides 128 bits of
security. Unspent addresses benefit from additional security because of RIPEMD-160 hash,
increasing it to 160 bits. However, electrum uses key stretching of an 100,000 round hash
once you know the seed, increasing the security to 144 bits.
You ARE correct that human generated phrases POTENTIALLY could have much higher
levels of security, but it doesn't matter because A) 128 bits is beyond brute forcing
by any form of classical computing (do the math and see how many super computers
and millions of years you need) and B) Bitcoin is limited to 160 bits of security no
matter what.
However, its impossible to measure with certainty the entropy level of a human generated
phrase and potential for error exists that does not exist with computer generated pass phrases.