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November 22, 2013, 10:47:50 AM |
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Hello,
I will have a brainwallet for me.
I have found a password that I can remember quite well. Let's say the length of this password would be 50 with a character set of an estimated 80 characters. These would then 80 ^ 50 possibilities for the attacker to crack the password via brute force. To make it harder to bruteforce, I'd still write me a small program that hashes the password x runs long with sha256 , sha512 (or possibly Scrypt ) - which I had imagined that the number to be x is greater than 1 billion. And as a last step, I would attach a number from 1 to y and hash it all over again with sha256 to generate as much as necessary addresses.
I expect to get a secure brainwallet for the next few years as a cold storage (did not before spending my few Bitcoins). However, if I really need to spend my btc, I could by the deterministic address generation send the remaining coins to a new address without having to memorize a new initial password (as the public key is published by a transaction, I'm a bit careful).
Of course, once the computing power increases, I can (if desired) hanging a few characters on the password and / or add more hash runs or create a completely new brainwallet concept.
What do you think of this idea? Would you trust such a brainwallet or would dicewars still be the more sensible option (my password is not based on dicewars and is not actually created 'random' - I want it easy to remember for several years) .
How useful is it to hang the password several time together (eg 1000 times) before pass the algorithm?
If you have better ideas, at least I can memorize such an algorithm better than dicewars.
PS: Excuse my bad English.
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