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Author Topic: Do you think it's safe to use a private key hash from 12-characters  (Read 432 times)
ranochigo
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August 25, 2023, 06:01:08 AM
Merited by o_e_l_e_o (4), pooya87 (2), ABCbits (1)
 #21

A backup can be found by someone, my brain is all mine.
I sleep fine, thanks.

--Knight Hider
To each their own and the most popular xkcd of all time: https://xkcd.com/538/.

The human brain cannot think of anything random, simply because we are not wired to be able to do so efficiently. Even if you think that whatever you're thinking of is random, there isn't a provable way of doing so. That only leaves you with the option of generating a seed randomly, rather than using your own passphrase that you've thought of. Back to the topic, if you are capable of memorizing a sufficiently long string of characters that consists of all of the alphabets (both capitalized and uncapitalized), numbers, symbols that is presented in a completely random and non-uniform manner, then you can do it.

I'm confident that most wouldn't be able to.

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Knight Hider
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August 25, 2023, 09:39:51 AM
 #22

I dunno, I've seen stories here about people forgetting their seed phrase or password because they only memorized it in their head...
It's a risk I'm willing to take.
To each their own and the most popular xkcd of all time: https://xkcd.com/538/.
Don't tell people you have money in your head. I already said too much.

--Knight Hider

in a world of criminals who operate above the law
one man can make a difference and you are going to be that man
ranochigo
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August 25, 2023, 10:05:59 AM
 #23

It's a risk I'm willing to take.
That's great, but certainly not for the average Joe.

Don't tell people you have money in your head. I already said too much.
That is a given, if you want to keep your money safe. Running your mouth and telling everyone about your wealth is possibly the worst thing that you can do.

With that out of the way, we have already established that the difficulty will be determined by how complex your passphrase is. What would the downsides be, if you were to encrypt your seeds with AES and a less complex but sufficiently secure password?

The attacker cannot do anything without having access to your password and the added benefit is that the attacker would have to execute a targeted attack against you to crack the password which would exhaust quite a bit of resources.

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o_e_l_e_o
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August 25, 2023, 02:33:26 PM
 #24

And if you're curious how will that happen, here's a well-documented response: https://chat.openai.com/share/a186be91-93cf-4547-a95f-5d9cad337080
I put some evidence based numbers to this in a post about this last year: https://bitcointalk.org/index.php?topic=5402270.msg60342177#msg60342177

In short, that's 100 million new cases each year of pathology directly affecting the brain which can all result in memory loss. There are hundreds of millions more cases of pathology elsewhere in the body which can also lead to brain injury and memory loss.

And even if you don't suffer from pathology, we all forget stuff all the time. Can you remember a phone number you haven't used in 10 years? What about the address of a childhood friend? Hell, people even have memory blanks when it comes to things you use every day. How often have you had something "on the tip of your tongue" that you can't quite remember?

Relying on memory alone is a huge and unnecessary risk. If you want to store money in your head then I can't stop you, but why not have a paper back up somewhere safe as well, just in case?
Knight Hider
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August 25, 2023, 06:30:38 PM
 #25

If you want to store money in your head then I can't stop you, but why not have a paper back up somewhere safe as well, just in case?
Diversification. I already have seeds on paper for other wallets. Just not the one in my brain. I can afford to lose it (but I prefer not to).

--Knight Hider

in a world of criminals who operate above the law
one man can make a difference and you are going to be that man
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