Post
Topic
Board Development & Technical Discussion
Merits 2 from 1 user
Re: Brain wallet, step-by-step guide (FIXED!)
by
DannyHamilton
on 19/12/2016, 16:30:33 UTC
⭐ Merited by PowerGlove (2)
- snip -
just clearly state that the "passphrase" has to be unique and not "guessable" by anyone else, but that would be just to simple, wouldn't it?

Yes.  That would DEFINITELY be "just to simple".

I have personally lost BTC, that were stored in my mobile wallet (when my mobile was "borrowed" by a worthless asshat in the subway).

You didn't have a backup?

I have lost BTC that were stored in a wallet.dat when my SSD suddenly failed.

You didn't learn your lesson and create a backup?

I have lost BTC that were stored in a wallet.dat when I accidently typed rm -rf / into the console.

You STILL didn't learn your lessong and store a backup?

How can someone that is incapable of learning to backup valuable data (and careless enough to type "rm -rf /" into the console of the sole computer storing their wallet) think that they would be any good at all at choosing a secure brainwallet?

Oh, wait. I know...
It's the Dunning-Kruger effect isn't it?  Which is just one more reason to discourage brainwallet use.

But I am yet to lose any of my BTC that I have stored in a brain wallet.

"Yet" being the key word in that sentence.  You could have said the exact same thing about your mobile wallet seconds before it was "borrowed".  You could have said the exact same thing about your wallet.dat seconds before the SSD died and seconds before you typed "rm -rf /".

People have tried to convince me to store it in an online wallet (where the owner may pull of Houdini's magic disappearence act anytime)

Not anyone that knows what they're talking about.  Perhaps some newbies or other unknowledgeable individuals.

or on a crappy 100$ SSD (which failure is a poisson distribution around it's END-OF-LIFETIME point) before, but that's not gonna happen!

You really need to learn the concept of secure backups.

Saying "all brainwallets will be emptied" is just as wrong as claiming that "alternative storage methods" are fool-proof.

I've never said that "all brainwallets will be emptied".  I'm confident though in saying that MOST people that think a brainwallet is a good idea for themselves are making a bad decision.