blatchcorn (OP)
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August 27, 2014, 04:31:22 PM |
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I would have thought it has happened to at least one person here.
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wasserman99
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August 28, 2014, 01:15:50 AM |
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It has obviously happened, but people likely would not want to admit it as it would open them up to a number of potential scams and would make their brainwallet more vulnerable to attackers. If an attacker knows that a certain person has created a brainwallet with BTC in it then the attacker can look at the movies and books the person likes as well as how they speak/write to get somewhat of an idea as to what they may have used for their brinwallet.
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deepestfear
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August 28, 2014, 06:02:31 AM |
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Plus the tricky thing with a brainwallet is what happens if you die unexpectedly? Harder to ensure that your descendants will be able to access the btc
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jonald_fyookball
Legendary
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Merit: 1008
Core dev leaves me neg feedback #abuse #political
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August 28, 2014, 06:54:17 AM |
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Plus the tricky thing with a brainwallet is what happens if you die unexpectedly? Harder to ensure that your descendants will be able to access the btc
you need a dead man switch service. or some kind of secret sharing or multi sig. Here's a cool idea you could do if your family is bitcoin savvy: You create a family dictionary, similar to electrum dictionary but you scramble the word order of the dictionary itself so that the words correspond to different numbers. The dictionary is only known to closest family members. Then in your will, you leave them the seed. It could be in possession by the lawyer and he could not use it himself. or it could simply be in safe deposit box which is willed to the next of kin.
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wasserman99
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August 29, 2014, 03:54:26 PM |
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Plus the tricky thing with a brainwallet is what happens if you die unexpectedly? Harder to ensure that your descendants will be able to access the btc
you need a dead man switch service. or some kind of secret sharing or multi sig. Here's a cool idea you could do if your family is bitcoin savvy: You create a family dictionary, similar to electrum dictionary but you scramble the word order of the dictionary itself so that the words correspond to different numbers. The dictionary is only known to closest family members. Then in your will, you leave them the seed. It could be in possession by the lawyer and he could not use it himself. or it could simply be in safe deposit box which is willed to the next of kin. Or to prevent your family from having so solve a puzzle to get money you intended for them to have while they are grieving, you could write down what the brain wallet is and instructions as to how to use it in a safe place that no one would have access to prior to your death but could access it easily once you die.
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fryarminer
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August 29, 2014, 04:36:00 PM |
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Plus the tricky thing with a brainwallet is what happens if you die unexpectedly? Harder to ensure that your descendants will be able to access the btc
you need a dead man switch service. or some kind of secret sharing or multi sig. Here's a cool idea you could do if your family is bitcoin savvy: You create a family dictionary, similar to electrum dictionary but you scramble the word order of the dictionary itself so that the words correspond to different numbers. The dictionary is only known to closest family members. Then in your will, you leave them the seed. It could be in possession by the lawyer and he could not use it himself. or it could simply be in safe deposit box which is willed to the next of kin. I can totally see a family fight getting pretty serious when one family member insists that they know how to decipher this when in reality they have no idea.
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MightyBTC
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Merit: 10
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August 29, 2014, 04:41:53 PM |
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Never forgot my private key anytime, nor will I do. Because I keep it written in physcial form.
OP did you loose any?:O
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DRK
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August 29, 2014, 05:06:56 PM |
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This does seem like a serious weakness of them... you write it down and you lose the benefit right...
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jonald_fyookball
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Merit: 1008
Core dev leaves me neg feedback #abuse #political
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August 29, 2014, 05:43:55 PM |
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This does seem like a serious weakness of them... you write it down and you lose the benefit right... No...you store it encrypted and hidden inside a picture of a cat (done offline of course) , in case you ever forget. :-)
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oceans
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August 29, 2014, 05:54:46 PM |
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Never been one to use a brainwallet private key because I feel that it's not the best to use especially since I can so easily forget things and it seems I am defeating the purpose of the brainwallet key by having it written down so no I have never forgotten one but I feel if I did have one I probably would do.
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R2D221
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August 29, 2014, 06:02:35 PM |
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I try to stay away from brain wallet because of this, I want to stash my bitcoins for a long time and I don't trust myself to remember a brainwallet 8 years from now.
I have remembered my password for more than 10 years (some may argue that not changing it is bad). If I wanted to use it as a brainwallet, I'm confident that either I remember it, or I forget it and lose access not only to my bitcoins, but to all my internet life.
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An economy based on endless growth is unsustainable.
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R2D221
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August 29, 2014, 06:19:25 PM |
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I try to stay away from brain wallet because of this, I want to stash my bitcoins for a long time and I don't trust myself to remember a brainwallet 8 years from now.
I have remembered my password for more than 10 years (some may argue that not changing it is bad). If I wanted to use it as a brainwallet, I'm confident that either I remember it, or I forget it and lose access not only to my bitcoins, but to all my internet life. Well you wouldn't want to use your main password now would you? One stolen database or keylogger on any machine or phone you login into and you're done for. Well, I guess you're right. What I actually do is use KeePass with my main password, and then generate long random passwords for all my services (including Bitcoin).
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An economy based on endless growth is unsustainable.
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Pente
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August 29, 2014, 07:22:01 PM |
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I try to stay away from brain wallet because of this, I want to stash my bitcoins for a long time and I don't trust myself to remember a brainwallet 8 years from now.
Write down clues that only you would understand to jog your memory.
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arxwn
Newbie
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August 29, 2014, 07:32:40 PM |
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Imagine the embarassement, going through stress or an accident or even drugs and forgetting it. brainwallets are more of a gimmick. It makes better sense to keep em printed and offline.
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LitcoinCollector
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Merit: 1000
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August 29, 2014, 07:54:25 PM |
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The concept of a brainwallet is very interesting. Storing coins into your memory. But I have no brainwallet yet.
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jonald_fyookball
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Activity: 1302
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Core dev leaves me neg feedback #abuse #political
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August 29, 2014, 08:05:04 PM |
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Imagine the embarassement, going through stress or an accident or even drugs and forgetting it. brainwallets are more of a gimmick. It makes better sense to keep em printed and offline.
it's not a gimmick. they have advantages other wallets don't. (drawbacks too) Also it would be equally embarrassing to lose coins in another kind of wallet.
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arxwn
Newbie
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August 29, 2014, 08:19:14 PM |
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That's true , if your have the mnemonic capacity it is the ultimate security. I lost a couple of bitcoins back in 2010 due to IT failures.
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wasserman99
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August 29, 2014, 08:31:09 PM |
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Imagine the embarassement, going through stress or an accident or even drugs and forgetting it. brainwallets are more of a gimmick. It makes better sense to keep em printed and offline.
it's not a gimmick. they have advantages other wallets don't. (drawbacks too) Also it would be equally embarrassing to lose coins in another kind of wallet. I think it would be difficult for anyone to really ever know that you had lost your bitcoin with either a brain wallet or a "traditional" wallet. IMO a brain wallet is really only ever appropriate if you are in a very high risk situation in which all of your assets will be seized and searched (similar to Ross in the SR case).
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Kipsy89
Sr. Member
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Activity: 280
Merit: 250
Relax!
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August 29, 2014, 08:43:23 PM |
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Luckily I haven't, but I only keep a very low amount of BTC in brain wallets! Most of my coins are in safe paper wallets or encrypted Electrum wallets. Better safe than sorry, man!
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udet4food
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August 29, 2014, 09:27:08 PM |
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I do not even try to use brainwallet because I forgot few passwords already. The less you use the password, the higher chance of forgetting it.
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