Bitcoin Forum
June 15, 2024, 07:47:50 PM *
News: Voting for pizza day contest
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Are deterministic wallets more secure than random wallets ?  (Read 2894 times)
virtualmaster (OP)
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500



View Profile
September 26, 2013, 01:39:36 PM
 #21

More about how random number generation is compromised on PC and mobile level:
http://blog.cryptographyengineering.com/2013/09/the-many-flaws-of-dualecdrbg.html
http://blog.cryptographyengineering.com/2013/09/on-nsa.html

Calendars for free to print: 2014 Calendar in JPG | 2014 Calendar in PDF Protect the Environment with Namecoin: 2014 Calendar in JPG | 2014 Calendar in PDF
Namecoinia.org  -  take the planet in your hands
BTC: 15KXVQv7UGtUoTe5VNWXT1bMz46MXuePba   |  NMC: NABFA31b3x7CvhKMxcipUqA3TnKsNfCC7S
Abdussamad
Legendary
*
Offline Offline

Activity: 3626
Merit: 1568



View Profile
September 26, 2013, 04:19:48 PM
 #22


If a webshop using a deterministic wallet makes its master public key public (as it should),

No it should not. By making your MPK public you've basically revealed to the world your entire sales data.
Dabs
Legendary
*
Offline Offline

Activity: 3416
Merit: 1912


The Concierge of Crypto


View Profile
September 27, 2013, 04:07:54 AM
 #23

And you'll get taxed for it, (as you should).

Abdussamad
Legendary
*
Offline Offline

Activity: 3626
Merit: 1568



View Profile
September 27, 2013, 07:54:45 AM
 #24

And you'll get taxed for it, (as you should).

If you want to comply with tax regulations you reveal your sales data to the tax man not the entire planet.
Dabs
Legendary
*
Offline Offline

Activity: 3416
Merit: 1912


The Concierge of Crypto


View Profile
September 27, 2013, 08:09:47 AM
 #25

If you reveal it to the entire planet, then the tax man can't over-tax you. hehehe.. full transparency has it's uses. (Also prevents corrupt tax men from extorting you.)

Boussac
Legendary
*
Offline Offline

Activity: 1220
Merit: 1015


e-ducat.fr


View Profile WWW
September 30, 2013, 06:34:36 PM
 #26


If a webshop using a deterministic wallet makes its master public key public (as it should),
By making your MPK public you've basically revealed to the world your entire sales data.

Only a fraction of the sales data are revealed.
If bitcoin transactions represent only a fraction of the sales (like cash transaction represent only a fraction of proximity payments), the world can only see the tip of the iceberg. And maybe the world will give credit to the merchant for its transparency and increased security.

Bitcoin payments could one day represent a larger proportion of sales of digital goods.
However, with digital goods, it could be a plus if content owners can audit the sales or the donations.

virtualmaster (OP)
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500



View Profile
October 25, 2013, 08:52:37 AM
 #27

As I see some people have done already profound analysis about deterministic usage of ECDSA in various environments because they don't need  access to a high-quality randomness source:

https://tools.ietf.org/html/rfc6979

Calendars for free to print: 2014 Calendar in JPG | 2014 Calendar in PDF Protect the Environment with Namecoin: 2014 Calendar in JPG | 2014 Calendar in PDF
Namecoinia.org  -  take the planet in your hands
BTC: 15KXVQv7UGtUoTe5VNWXT1bMz46MXuePba   |  NMC: NABFA31b3x7CvhKMxcipUqA3TnKsNfCC7S
inform
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile WWW
October 25, 2013, 09:50:59 AM
 #28

Think this very question actuals

what and how secure save walet and where pc or mobile
FreeTrade
Legendary
*
Offline Offline

Activity: 1428
Merit: 1030



View Profile
October 25, 2013, 11:27:11 AM
 #29

- 3. Users which using the deterministic wallet as brainwallet a with memorable but unpredictable and strong passphrase:
- resistance again random number function defect/sabotage as above
- used in wallet the brainwallet passphrase will be an additional backup against loosing coins

Yes, assuming a strong passphrase, I'd think this would provide protection against compromised RNG whereas randomly generated addresses would not. A good idea for long term storage I would think.

For belt and braces, maybe part strong passphrase + random number.

Membercoin - Layer 1 Coin used for the member.cash decentralized social network.
10% Interest On All Balances. Browser and Solo Mining. 100% Distributed to Users and Developers.
Abdussamad
Legendary
*
Offline Offline

Activity: 3626
Merit: 1568



View Profile
October 25, 2013, 05:39:05 PM
 #30

Another reason why revealing the MPK is a bad idea is that in the unfortunate event any one of your private keys is revealed all your private keys can be cracked:

https://bitcointalk.org/index.php?topic=303969.0

See the response by ThomasV.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!