Quote from: TimS on August 08, 2014, 06:19:27 PM

You're wrong. Security through obscurity is not secure. You should assume that the enemy knows everything about your system except your private key.

Quote from: NadimAJ on August 08, 2014, 05:44:59 PM

When an uninitiated thief breaks into the house of a security conscious homeowner, he has no idea where the valuables are kept.

Actually, he probably knows where the valuables are kept, because the average person is stupid and predictable, even when they try to be clever (this is true of hiding places for valuables, and doubly so for passwords). It'd be much better if you could instead stick an unbreakable safe in the middle of your living room.

Not to mention that unpredictability makes it more difficult to analyze a program's security. Also, it makes it harder to backup the user's wallet, and loss due to a lack of backups is more likely than theft. Encryption is your best bet.