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Author Topic: Are deterministic wallets more secure than random wallets ?  (Read 2900 times)
virtualmaster (OP)
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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

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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.
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September 27, 2013, 04:07:54 AM
 #23

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

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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.
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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.)

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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.

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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

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October 25, 2013, 09:50:59 AM
 #28

Think this very question actuals

what and how secure save walet and where pc or mobile
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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.

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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.
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