Brain Wallets

[aerobatic]

There are many ways of generating secure brain wallets. One would be by employing the use of a "live" and offline operating system using a reputable wallet, such as electrum. Once your wallet is generated, you can write down all of your public addresses, and memorize your seed, (you should develop a way to get at your seed in case you forget it) and then take the wallet offline where it can remain in cold storage for a very long time. This method would likely be very safe. The amount of security you should employ depends on the amount of funds that you are trying to protect. People will be willing to work a lot harder to get at something that is worth a lot to them. Keep in mind that the physical security of the device (e.g. computer, tablet, phone, hardware wallet, etc...) is very important.

this thread isn't really to warn you any longer.   you're dead set on using brain wallets no matter how many others try to warn you off the idea.

brain wallets are not a safe way of storing your bitcoins.   but no one's stopping you doing that.

but if you want best practices for keeping bitcoins safe then brain wallets, aren't it!   'nuff said.   Its a warning to others, as you, marbu have your mind set on doing it.

its your life, marbu.  i really hope that it works better for you than it did for me.

[1715003543]

1715003543

[marbu1022]

There are many ways of generating secure brain wallets. One would be by employing the use of a "live" and offline operating system using a reputable wallet, such as electrum. Once your wallet is generated, you can write down all of your public addresses, and memorize your seed, (you should develop a way to get at your seed in case you forget it) and then take the wallet offline where it can remain in cold storage for a very long time. This method would likely be very safe. The amount of security you should employ depends on the amount of funds that you are trying to protect. People will be willing to work a lot harder to get at something that is worth a lot to them. Keep in mind that the physical security of the device (e.g. computer, tablet, phone, hardware wallet, etc...) is very important.

this thread isn't really to warn you any longer.   you're dead set on using brain wallets no matter how many others try to warn you off the idea.

brain wallets are not a safe way of storing your bitcoins.   but no one's stopping you doing that.

but if you want best practices for keeping bitcoins safe then brain wallets, aren't it!   'nuff said.   Its a warning to others, as you, marbu have your mind set on doing it.

its your life, marbu.  i really hope that it works better for you than it did for me.

aerobatic,

First of, there have not been others, as you state that have warned me. It only has been you. Many people in this forum will tell you that brain wallets are safe if you know what you are doing. Based on what you have said, I strongly recommend that you read up on managing encryption keys and passwords, as not only brain wallets are vulnerable if you are not careful. Good luck to you.

[pereira4]

The main risk is an attacker doesn't need to physically own a local file to try to bruteforce your password. This is why im too paranoid to not use anything that doesn't require a local file that you own, software wise thats why Bitcoin Core is the best I can think, and for cold storage a paper wallet. Im just too paranoid to trust brain wallets.

[jmintuck1912]

I would NEVER use Brainwallet or the like after all that I have heard about these things. Too many risks involved. I would rather keep a wallet where I have the

keys and backuos for them. I have a wallet with the backup for it and plan to keep it that way. Fk crackers that crack things. The bad hackers are called

crackers and the ethical hackers are the hackers. Don't get the two mixed up. Crackers= bad. Hackers= Generally Recognized As Safe.

[frenulum]

If you're worried about using a brain wallet you mustn't have much of an imagination. If your seed phrase is too weak, you risk losing your money. If it's too complex, you risk forgetting it. If you have a good imagination, you can conquer these obstacles.

Brain wallets have many impressive advantages. The ability to quite literally think up a unique bank account that lives in your brain. That's insanely cool.

[Quickseller]

If you're worried about using a brain wallet you mustn't have much of an imagination. If your seed phrase is too weak, you risk losing your money. If it's too complex, you risk forgetting it. If you have a good imagination, you can conquer these obstacles.

Brain wallets have many impressive advantages. The ability to quite literally think up a unique bank account that lives in your brain. That's insanely cool.

Other people have imaginations as well. The people trying to crack your brain wallet only need to think of a concept while the person making a brain wallet will need to think of the implementation.

[Xester]

   I found this interesting article about the vulnerability of brain wallets that left me asking some questions. I personally think the author of the article deserves a sharp pain below the waist line. He actually attacks and insults brain wallet users, provides very vague information, and it appears, the article is written to make you worry about your brain wallet, or any type of wallet for that matter.  Please read article below.


http://www.fastcompany.com/3056651/researchers-find-a-crack-that-drains-supposedly-secure-bitcoin-wallets


1> What I would like to know is, if when I generated my wallet, a seed was created for me to be able to restore my wallet at a later point in time, when I want to bring the wallet online again, how could my seed, and therefore my key be attacked??? There is nothing in the blockchain since there has never been any transactions. I don't understand what the author is really talking about? And even if I have conducted transactions to the wallet addresses, how could the presence of those public addresses in the blockchain be used to attack my wallet?

2> Is my above example a brain wallet, or is it something different??

Well actually using your address attackers may hack your bitcoin wallet and take all your bitcoins. But at this point of time blockchain has already made some innovation as to protect the owner of the wallet. By changing your wallet address every transaction it is unlikely or less possibly be attacked by hackers.