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Title: What is a Brain Wallet? Post by: madcappp on November 20, 2013, 07:42:10 AM What is the difference between a Brain Wallet and a Paper Wallet?
Title: Re: What is a Brain Wallet? Post by: PenAndPaper on November 20, 2013, 08:36:31 AM Paper wallets are when you keep your private keys in paper.
A brain wallet is when you create a private key (and thus an address) from a pass phrase. That way you only need the pass phrase to recreate the private key and use the coins from the address whenever you need to. Title: Re: What is a Brain Wallet? Post by: J35st3r on November 20, 2013, 09:41:48 AM Be careful with brain wallets. You need a strong passphrase or else your coin is at risk of being stolen by hackers. Strong passphrases are not easy to create (and even more difficult to remember without writing them down, which effectively makes it a paper wallet too).
Have a read of this thread https://bitcointalk.org/index.php?topic=251037.0 Title: Re: What is a Brain Wallet? Post by: hexdecode on November 20, 2013, 10:51:42 AM Brain wallets are a fun idea but for the most part your coins will get stolen if it's something you're likely to be able to remember. Also amnesia would make this suck.
Title: Re: What is a Brain Wallet? Post by: u9y42 on November 20, 2013, 01:05:53 PM Also amnesia would make this suck. Good point. : D And there is always the risk of keyloggers and the like. |