Quote from: jonald_fyookball on May 21, 2014, 04:26:52 PM

Quote from: cp1 on May 21, 2014, 04:20:05 PM

Quote from: Light on May 21, 2014, 09:07:10 AM

As long as you have enough entropy, I do agree brain wallets are perfectly fine. The reason why many people including myself advise against it is that in general people are too lazy to properly choose random words instead substituting them for words they believe to be random or ones from famous films/songs/poems et al.

It's not just that. Everyone can work on cracking a brainwallet from anywhere. To crack a wallet.dat file they have to have a copy of it.

Anyone can also work on cracking a private key from anywhere too without the wallet file.
Bitcoin private keys have 160 bits of security, maximum.

So, you just have to make sure your brain wallet has enough
bits of security (128-bit or more).

Brain wallets should really only be used if you have serious concerns about your computer being compromised in the future (and this is a legitimate concern).

An effective brain wallet must be memorized, otherwise it is no better then a paper wallet or a password protected wallet on your computer.

People use "mining farms" to calculate the public key of many brain wallets and monitor the blockchain for when btc is transferred to the address. When it is they use a script to push a TX to transfer the coins to an address they control.