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Author Topic: Is this a safe way to create a bitcoin wallet?  (Read 558 times)
King of Gods (OP)
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November 29, 2018, 03:18:57 PM
 #1

Will it be safe to create a private key by encrypting absolutely random letters in SHA256, for example 'sdfguhiuwrUISDHGNIUXHIUCV238778dfvhgjhuidsahgfiu', encrypt these random letters and numbers in SHA-256 and use the resulting private-key for bitcoin? I can do this with the Internet turned off, I can encrypt the absolutely randomly typed phrase 'sdfgdhfsuyghuHUDUIHGHIUG878yet7y8bchxujxcbvhidsafhguihuq' in SHA-256, write the received private key and use it to use Bitcoin? Why use some kind of generators, when you can encrypt any randomized characters typed on the keyboard, and use the resulting private-key for bitcoin? After all, in fact, no one will know the phrases with the help of which the private-key was created, and the only way to lose it is if someone other than me gets access to the private key.
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November 29, 2018, 03:45:43 PM
 #2

I use Google Authenticator that is good for me and guaranteed I don't use other methods besides that which I believe are all that and thank you
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November 29, 2018, 03:48:44 PM
Last edit: November 29, 2018, 03:59:58 PM by mjglqw
 #3

I read/heard somewhere in the past that humans are really bad at creating random stuff when talking about things like this. If I remember correctly it was at a Andreas Antonopoulos YouTube video, whereas he was responding to a question asking if it's better to create your own 12-word seed of random words rather than generating them. While we're not talking about words here, this is probably still a not-so-good idea.

Also, you can generate a private key while offline I'm pretty sure.

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November 29, 2018, 03:51:20 PM
 #4

People poorly create Brain wallets, using words or phrases that other people can predict, in my case, I just press the keyboard with two hands and get completely random characters that no one can ever repeat and create a private key such as I have.
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November 29, 2018, 03:58:22 PM
 #5

I think that the safest method is to create a btc wallet. To my mind, it is a good idea to use btc wallet which is hard not paper wallet. the safety of crypto is of the utmost importance
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November 29, 2018, 04:01:15 PM
 #6

Generating a private key while offline is in itself already a good idea, as long as the machine that you're using isn't infected in any way. Also, randomizing your own set of pass phrase, or in your example, random letters and encrypting it in SHA-256 is also okay, provided that no keylogger or any similar malware is present in the machine. Once it's encrypted, I don't think it will be easy to de-crypt it by any means, and knowing that your random letters are unintelligible and might look as if it's the incorrect phrase, I guess you'll be good in the end.

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King of Gods (OP)
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November 29, 2018, 04:06:25 PM
 #7

I think that the safest method is to create a btc wallet. To my mind, it is a good idea to use btc wallet which is hard not paper wallet. the safety of crypto is of the utmost importance

Creating a wallet using bitcoin.org you cannot know with what algorithm the sha-256 key was created, and what was used to create it, and therefore you cannot be 100% sure that your bitcoins are secure if you are not Create a private key from your phrase or characters. If you create your private key yourself, using my method of pressing the keyboard many times, typing absolutely random letters and numbers, and then encrypting your randomly typed phrase into the private key SHA-256, you will be sure that the private key The key is created from a strong phrase that can not be cracked. If I'm wrong, correct me.
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November 29, 2018, 04:12:59 PM
 #8

I think that the safest method is to create a btc wallet. To my mind, it is a good idea to use btc wallet which is hard not paper wallet. the safety of crypto is of the utmost importance

Creating a wallet using bitcoin.org you cannot know with what algorithm the sha-256 key was created, and what was used to create it, and therefore you cannot be 100% sure that your bitcoins are secure if you are not Create a private key from your phrase or characters. If you create your private key yourself, using my method of pressing the keyboard many times, typing absolutely random letters and numbers, and then encrypting your randomly typed phrase into the private key SHA-256, you will be sure that the private key The key is created from a strong phrase that can not be cracked. If I'm wrong, correct me.


Thanks for the answer! I also have an idea how to protect your private key if it falls into the wrong hands so that you don’t lose money. You can change one or two characters in your private key, put a small amount of bitcoins on the changed private key, and keep all your balance in a private key about when you only know one or two characters that you need to change in your private key in order to access your main Bitcoins. In the event that your private key is stolen, the attacker will receive a small part of bitcoins, you can create two backup copies, and in case you know exactly which characters you need to replace, in your case, the private key in order to gain access to your main bitcoins. What do you think about it? It looks very safe, and even if you are tortured with a soldering iron, you can give your private key to an attacker, and then use your second backup in which you will need to replace 1-2 characters in your private key in order to get access to your main bitcoins . If nobody knows about your secret with the replacement
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November 29, 2018, 04:40:05 PM
 #9

Will it be safe to create a private key by encrypting absolutely random letters in SHA256, for example 'sdfguhiuwrUISDHGNIUXHIUCV238778dfvhgjhuidsahgfiu', encrypt these random letters and numbers in SHA-256 and use the resulting private-key for bitcoin? I can do this with the Internet turned off, I can encrypt the absolutely randomly typed phrase 'sdfgdhfsuyghuHUDUIHGHIUG878yet7y8bchxujxcbvhidsafhguihuq' in SHA-256, write the received private key and use it to use Bitcoin? Why use some kind of generators, when you can encrypt any randomized characters typed on the keyboard, and use the resulting private-key for bitcoin? After all, in fact, no one will know the phrases with the help of which the private-key was created, and the only way to lose it is if someone other than me gets access to the private key.


In creating bitcoin wallet, the only things which I could suggest is try to use Electrum, by this things as long as you have the private key, phrase and password your bitcoin will be safe, as long as you do back up for it. Or you could also Hardware or multibit wallet where these things are good to use so far.
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November 29, 2018, 04:48:54 PM
 #10

I use Google Authenticator that is good for me and guaranteed I don't use other methods besides that which I believe are all that and thank you
Using of Google Authenticator will help to protect your wallet and I also use it and by the of that authenticator I can know if someone will try to open my wallet. If you have some method to keep your wallet safe may you know what kind method it is?



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November 29, 2018, 04:51:19 PM
 #11

Using the google authenticator is not secure
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November 29, 2018, 04:54:29 PM
 #12

Do you want to use the key in the classic wallet bitcoin core?

I think the security of the service where you enter your private key is also very important.

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November 29, 2018, 05:07:47 PM
 #13

 I think that btc wallet is the safe method if it is hard. if we are talking about a paper wallet it is not worth attention. To my mind, it is necessary to create a btc wallet to be on the safe side, otherwise you risk losing everything

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November 29, 2018, 06:49:33 PM
 #14

I use Google Authenticator that is good for me and guaranteed I don't use other methods besides that which I believe are all that and thank you
Using of Google Authenticator will help to protect your wallet and I also use it and by the of that authenticator I can know if someone will try to open my wallet. If you have some method to keep your wallet safe may you know what kind method it is?
and also apart from that we have to ask for email and telephone number approval to verify if doing a transaction, this method has been widely used for wallet security systems that can be trusted

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November 29, 2018, 07:00:44 PM
 #15

The best way to create bitcoin wallet is to go on adroid or iPhone store and download Bitcoin wallet,believe me that is the safest way, that's what i use.Just give it a try,and if you don't like it dont use it.

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November 30, 2018, 01:56:00 AM
 #16

The best way to create bitcoin wallet is to go on adroid or iPhone store and download Bitcoin wallet,believe me that is the safest way, that's what i use.Just give it a try,and if you don't like it dont use it.

Using a wallet on your mobile phone is definitely a good choice if we're talking about ease-of-use, but since OP was mostly referring to having a safe way of storing his/her bitcoin, the best choice here is probably simply getting a hardware wallet like the Trezor[1] or the Ledger Nano S[2]; or a paper wallet if you know what you're doing.


[1] https://trezor.io/
[2] https://ledger.com/

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November 30, 2018, 03:15:10 AM
 #17

that is the way that many random number generators do it. they take a random input then hash it using SHA256. but remember that the hash is only done to turn the input into a 256 bit (32 byte) output so that it is within the range of valid keys, it doesn't add any randomness since the result is always the same.
and most important of all is the way you are getting that random input. if it is the following as you said in one of your comments:
I just press the keyboard with two hands and get completely random characters
i can't really say whether this is random or not but to me it doesn't look random enough. if you are so concerned about randomness and don't want to use a wallet that is already doing it then use a dice or a coin flip to generate your random number.

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November 30, 2018, 03:17:30 AM
 #18

Sorry, but, why don't you just use Electrum for example to generate the wallet for you?
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November 30, 2018, 03:23:48 AM
 #19

Best practice to manage large amount coins should be choosing a multi-signature scheme.
For individle users mobile phone and personal computer multi-sig is practicable solution.
While that can definitely work for sure, this might be too difficult to do and might be too much of a hassle for people who just want to easily store their cryptocurrencies without doing much work/research.

Decent mobile Bitcoin wallet is good enough for daily use. Nowadays, the security performance of mobile phones surpasses that of ordinary hardware wallets. iPhone is more secure than a large number of hardware wallets(base on Android).
iOS devices are mostly safer than Android devices for sure. But iPhone devices being more secure than hardware wallets? Definitely not. While iOS devices are quite safe, the risk of the private keys being exposed is still there, as the private keys are still stored on the mobile device. Whereas with hardware wallets, the private keys never leave the device.

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November 30, 2018, 03:39:14 AM
 #20

People poorly create Brain wallets, using words or phrases that other people can predict, in my case, I just press the keyboard with two hands and get completely random characters that no one can ever repeat and create a private key such as I have.

random words, yes I understand a little about this. but when creating a wallet and the address is automatically created with the random word, can the word be changed?
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