VERITASEUM DISCUSSION THREAD

[paulmaritz]

I think the best way to secure your wallet is to...

1. Generate new addresses from a formatted computer that is never going to be connected online.
2. Encrypt these addresses into password-protected .rar file (I don't think .rar file can be cracked, I believe it is very very secure).
3. Burn this .rar file into multiple copies of high quality DVDs (I recommend Verbatim's AZO DVDs).
4. These addresses will only be used as cold storage and transfer is done only when necessary.

Example, I generate 10 addresses and cold-store my bitcoin, ethereum, and erc20 tokens in them.
Say I have 100 BTC and generated 10 addresses.
I transfer 10 BTC to each of the addresses.
If I want to make an unavoidable transfer, I use only one of the 10 addresses.
If one of the addresses, once used, gets hacked, the remaining 9 addresses will remain safe.

With this method, I believe nobody absolutely need any hardware wallet like Trezor, Keepkey, Ledger, etc.

https://www.youtube.com/results?search_query=.rare+file+cracked

[Dorky]

https://www.youtube.com/results?search_query=.rare+file+cracked

I think they can crack the .rar file thru brute force, which only works with very weak password like "abcd".
However I am not sure if they can do the same with password like "ThIs!iSn%Xampl5".


Edit:
.zip file is not the same as .rar, as I know it.
.zip file is very weak encryption.
But the same can't be said with .rar file.

[paulmaritz]

https://www.youtube.com/results?search_query=.rare+file+cracked

I think they can crack the .rar file thru brute force, which only works with very weak password like "abcd".
However I am not sure if they can do the same with password like "ThIs!iSn%Xampl5".

Edit:
.zip file is not the same as .rar, as I know it.
.zip file is very weak encryption.
But the same can't be said with .rar file.

It is possible, but will take a longer time.

[Dorky]

It is possible, but will take a longer time.

The time could take hundreds of years, if not thousands, or millions.

https://stackoverflow.com/questions/11807869/how-to-crack-aes-128-encryption-used-in-winrar

The idea is that the encryption does not actually store the password that any brute force can find out.
Decryption thru brute force will not work in reasonable time.

There was an article I found many days ago about how encrypted .rar file is way much more secure than encrypted .zip file, I tried to find it but can't.

Edit:
The article explained well why a good password-protected .rar file cannot be cracked/decrypted by brute force or any software program.
But of course it would be great if I can have Mike B's email to send him a strong password-protected .rar file to prove me wrong. 

[SmokingCrop]

Goodluck cracking an AES-256 7zip file with a long password  

[Dorky]

Goodluck cracking an AES-256 7zip file with a long password  

They will die trying.  

Edit:
Nevertheless, my point is that we don't really need any hardware wallet (or any expensive 3rd party wallet) when we can create our own inexpensive cold storage in password-protected .rar files burned in high quality DVDs from a formatted forever-offline computer.

[paulmaritz]

It is possible, but will take a longer time.

The time could take hundreds of years, if not thousands, or millions.

https://stackoverflow.com/questions/11807869/how-to-crack-aes-128-encryption-used-in-winrar

The idea is that the encryption does not actually store the password that any brute force can find out.
Decryption thru brute force will not work in reasonable time.

There was an article I found many days ago about how encrypted .rar file is way much more secure than encrypted .zip file, I tried to find it but can't.

Edit:
The article explained well why a good password-protected .rar file cannot be cracked/decrypted by brute force or any software program.

With the software they use, they can do it much quicker. However, even assuming they can't, they have ways to obtain your private keys and other information once you use the relevant password to open the .rar file. It is not safe. A hardware wallet such as Trezor is more secure.

[Dorky]

With the software they use, they can do it much quicker. However, even assuming they can't, they have ways to obtain your private keys and other information once you use the relevant password to open the .rar file. It is not safe. A hardware wallet such as Trezor is more secure.

Yes, the article debunked that too. Winrar actually somehow made each cracking effort wayyyy much slower than the software permits.

If only I can find that article again...

Edit:
And yes, that's why it is recommended to generate many addresses with equally distributes BTC in each, so that each of them is used only once for an unavoidable transfer.

[azmojo]

OK guys, there are two 1000 VERI sell walls to chew through. This is your opportunity before we hit parity with ETH!

[paulmaritz]

With the software they use, they can do it much quicker. However, even assuming they can't, they have ways to obtain your private keys and other information once you use the relevant password to open the .rar file. It is not safe. A hardware wallet such as Trezor is more secure.

Yes, the article debunked that too. Winrar actually somehow made each cracking effort wayyyy much slower than the software permits.

If only I can find that article again...

Yes, way slower, but not impossible.

[Dorky]

Yes, way slower, but not impossible.

It is indeed a 100% possibility, maybe in some countless millions of years.

[paulmaritz]

Yes, way slower, but not impossible.

It is indeed a 100% possibility, maybe in some countless millions of years.

Why don't you issue a direct challenge to hackers? It is the quickest way to find out! 

[Dorky]

Yes, way slower, but not impossible.

It is indeed a 100% possibility, maybe in some countless millions of years.

Why don't you issue a direct challenge to hackers? It is the quickest way to find out! 

I would like Mike B to prove me wrong since he said .rar file can be decrypted/forced.

[paulmaritz]

Yes, way slower, but not impossible.

It is indeed a 100% possibility, maybe in some countless millions of years.

Why don't you issue a direct challenge to hackers? It is the quickest way to find out! 

I would like Mike B to prove me wrong since he said .rar file can be decrypted/forced.

Mike is a good guy, but others might take you up on the challenge.

[whoareyou4]

Yes, way slower, but not impossible.

It is indeed a 100% possibility, maybe in some countless millions of years.

Why don't you issue a direct challenge to hackers? It is the quickest way to find out! 

I would like Mike B to prove me wrong since he said .rar file can be decrypted/forced.

Mike is a good guy, but others might take you up on the challenge.

First, I said "depending on the encryption". So that obviously matters.

Second, if the encryption is weak, it can be brute forced. There used to be a weakness whereby you could do some file modifications and glean the password. It "hopefully" has been fixed. I love the guys thinking they know stuff by using bruteforce as a standard of cracking. Anyone with half a brain would NOT attempt that and would look for other weaknesses.

Point being is...there are a number of ways information can be gleaned. There are also dumb ass people would would just zip the file instead of rar it with a strong encryption.

Why complicate it when you can use a hardware wallet with a PIN that does the encryption for you? And where are your balls? You could have commented right on the video...

About 5 years ago,a few guys I worked with needed excel docs that were .rar'd. We used a workaround to glen the key. The guy who did it was keeping stuff under his hat and making life difficult thinking he'd gain job security.

[Ant1Tr0ll]

Veritaseum at #16.... choo chooo we're chasing you down Ethereum!!!!!!! 1:1 price parity.... let's see it!!!!!!!!

[jbl888]

15   Zcash Zcash                   $434,050,853   $279.59   1,552,444 ZEC          $31,890,700   -2.08%   
16   Veritaseum Veritaseum   $425,817,001   $216.45   1,967,295 VERI *   $1,824,940   24.62%   


Anybody want to trade their VERI for ZCASH?


Didn't think so ...


 

[Josef27]

15   Zcash Zcash                   $434,050,853   $279.59   1,552,444 ZEC          $31,890,700   -2.08%   
16   Veritaseum Veritaseum   $425,817,001   $216.45   1,967,295 VERI *   $1,824,940   24.62%   


Anybody want to trade their VERI for ZCASH?


Didn't think so ...


 

Haha .. Nope Ill be keeping all of mine for sure  but, I have been picking up Cloak coin on the dips. If you follow Clif you know why.

[paulmaritz]

Goodluck cracking an AES-256 7zip file with a long password  

They will die trying.  

Edit:
Nevertheless, my point is that we don't really need any hardware wallet (or any expensive 3rd party wallet) when we can create our own inexpensive cold storage in password-protected .rar files burned in high quality DVDs from a formatted forever-offline computer.

Why go through all that trouble when you can secure it with something that is more secure and convenient and costs only €89?

[dave3]

Goodluck cracking an AES-256 7zip file with a long password  

They will die trying.  

Edit:
Nevertheless, my point is that we don't really need any hardware wallet (or any expensive 3rd party wallet) when we can create our own inexpensive cold storage in password-protected .rar files burned in high quality DVDs from a formatted forever-offline computer.

Why go through all that trouble when you can secure it with something that is more secure and convenient and costs only €89?

I would also strongly recommend the Trezor.  So cheap compared to what it's protecting.

It's not just about the encryption, but keeping it physically isolated (all the key-signing happens on the separate Trezor hardware).