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What many people don't realize is that over the last several years, there are people that have been generating billions of private keys from movies, literature, music, and quotations, etc. so that if anyone ever happens to use one of them, these people can immediately take the funds.
This article is really sneaky. It doesn't fully explain what a brain wallet is and so it seems as if they are talking about cracking the 12 or 24 seed words plus your passphrase which you took from your favourite book.
What a great experiment!
Thanks for posting.
It reminds of the guy whos key was posted accidentally in some files, and a tx happened seconds after the upload.
Imo, its evidence of some bad shit on the adoption-horizon. Gonna be a bumpy road with bots this nasty patrolling.
There are tons of bots continually doing this. Even if you use a brain-wallet with the hash of one recent block it WILL get swept away.
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I had a few brainwallets that held ridiculous amounts at today's price level. Nothing was taken. But I also didn't create them using dumb methods. Brainwallets still work fine. Though I wouldn't recommend it for most users.
This article is deceiving. 12 random seed words are enough. A passphrase added is significantly more.
a more secure way of storing coins could be to email yourself an encrypted backup of your private key
So where do you store the key to this encryption? Encypt it and email it to yourself?
I suppose at this level you could use a "brainwallet" e.g. easily memorized seed phrase. To serve as the encryption key for your totally random wallet address.
Write a script that checks the wallet for funds every second. Sweep keys once amount > 0.
Honestly, could be a pretty low powered device just sitting there trying to check wallet balances over and over again. Could probably run that script on a desktop fr 2010 and just leave it plugged in forever haha.
Brain wallets are well known to be a badg idea for many many many reasons including that it encourages non random pass phrases and human memories suck. Unless you're trying to get passed Kim Jong Un's blood riders, you probably don't need to even consider using a brain wallet. Get a hardware wallet and securely store your backup seed in a safe. More info
The network is robust in its unstructured simplicity
this is poetry
I love it!
When is the next round of this game? Larger amounts please.
EDIT: if someone has a good list of phrases - PM me for some brainstorming. Got the bot already.
The literature quotes are all first words from novels. The Satoshi quote is from the conclusion chapter of the white paper, near the end, which is why it took longer to snipe
That's the wrong method. Pick any phrase for a password, add a salt (another unrelated word), and hash it one trillion times.
I was going to use “this is a test of the emergency broadcast system” until I read this a few years ago
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