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Bitcoin is hard money, in more than one way.
The never -ending work to protect BTC can be the most difficult. There are lots of options-Hardware wallets, software solutions and even multi-gigs can trick, it depends on how they apply.
But if you are a legendary bittercar Peter Tod, you can choose the option of reliable brain wallet. And fortunately for us, he has told us how he would do it.
,PS caught Peter Todd on stage on stage Permitted iv Later this month in Brooklyn, because he sits to kick day 1 for an intimate chat with Pete Rizo.,
First, a disclaimer: Todd shared his brain wallet process in August 2012, a year ago, a year ago. BIP -39 was introduced.
BIP-39 brought Mnemonic phrases for bitcoin and made a place for a 25th word, which was leveled at the top, which enhances considerable levels EntrapeProtect private keys from brut force attack.
All this only makes the process of tod more effective, even if it can use a different method today. What did he do effectively BIP -39 From his mind (And some help from bitcoin).
Method
How to here, to your own Word,
- “Create a password that you can remember personally. Personally I use PWGen the program that produces ‘pronounceable passwords’. I use it in eight-caste upper/digits/symbols mode.
- Write that password below. Yes it is heretics; You will safely destroy it later.
- Remember that password. This is very easy to think of you. I think if I am remembering a password five minutes a day a day, I can easily remember it in a week or a week, and perhaps it is very permanently missing it after a month or two. Remember the study at the university? Use those techniques. Flashcards are very effective; An important part of the memoir is being forced to remember what you are trying to remember.
- Repeat until you remember five different passwords. During this process it helps to do something like encrypting various files with sub-priests, and to ensure that you practice decrypt them that you do not forget the individual parts. This allows you to avoid having copies of parts of the password if you are paranoids.
- Take all five passwords and take them to a big super password: Eis9ui@r + vi4g
- Use this password! Eventually you will forget it, although it takes time to forget that it will go down fast. For me, I make a point of using my password every month. Even it is enough to remember it mentally. ,
Follow those steps and your password will be 49 characters long. Ideally, Toddle would like at least 128 bits entropy to eliminate any risk of cruel force. Through his own analysis, for his optimal configuration Pwgen 221 bits will produce entropy-“Gold standard 256-bites levels that provide modern encryption.”
In practice, it works by feeding a memorable password to bitcoin client Encryptwelling Celebration. As a client key, the wallet will again encrypted the wallet using the password.
Any possible thief – in meatspace or cyberspace – will need to cyphon the password from your brain in any way, before they can reach your bitcoin anytime. Just whatever you do, Don’t forget password“All you are confident that you can really learn,” Todd wrote.
“The key is that you do not try to remember the whole thing at once. Divide the task into some subtask, ie sub-pastewards, and remember them one after the other. People had dozens of phone numbers in their heads, remembering one at a time.”
Tod was right to tell that the average that is not going to do so.
And this is why Peter Todd will be a bitcoin legend forever.
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