brainwallet collision

[RoxxR]

Given that humans are pretty bad at making random passwords, I'm guessing brainwallet collisions are
bound to happen.
 
Anyone knows or can estimate how often it happpens?

[BlindMixerDR]

I think it already happened. There was a link where someone lost 5BTC in brainwallet. Better to use deterministic wallet with lots of entropy, and encrypt with a good passphrase.

Estimate of how often it happens depends on many things:

1. How long is the passphrase

2. How many people use brainwallets

3. How good are people at using unique passphrases and a mixutre of characters, numbers, symbols etc.

[deadweasel]

I think it already happened. There was a link where someone lost 5BTC in brainwallet. Better to use deterministic wallet with lots of entropy, and encrypt with a good passphrase.

Estimate of how often it happens depends on many things:

1. How long is the passphrase

2. How many people use brainwallets

3. How good are people at using unique passphrases and a mixutre of characters, numbers, symbols etc.

it has happened.