Brain Wallets Aren’t Just For Spies – How to store bitcoins in your brain

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How would you like to be able to carry your wealth with you everywhere you go and yet have it totally undetectable by any outside observer? Imagine crossing borders, fleeing from dictators, or simply passing time in the gulag while confidently knowing that you can conjure up your wealth at the time of your choosing. You can do this now with the advent of Bitcoin. Bitcoin is the new, spendable financial asset that some are calling the ultimate offshore bank account. As a useful and scarce digital commodity, this data has become quite valuable. It is its nature as data that makes it exquisitely manipulable. Without getting into a high-level technical discussion, bitcoins are simply entries in an open, global ledger. They are represented by a string of digits known as a “public address.” This public address is controlled by another string of digits known as the “private key.” A good analogy is email. People can send (or “sign over”) bitcoins to your public address much like people can send emails to your email address. For email, the person with the password is the only one who can send emails from that address. The bitcoin private key acts much like the …

Tutorial: How To Create Super-Secure and Easily Memorable Passphrases

admin Banking, Bit Resources, Bitcoin For Beginners, Custom Bitcoin Address, How To Get A Custom Bitcoin Address, Technology, Things To Know, Wallets 0 Comments

So I’m sure once you start accumulating your precious coins you’re going to want to keep them  safe & secure.   In this tutorial, I will show you how to create a super- secure and easily memorable passphrase of between 10 – 20 random words. Let’s get started: Get 5 dice (standard six-sided) Take the 5 dice, put them in a shoe box or cup, shake them up and let them drop on a table. Record the 5 numbers from left to right. Example: 25361 Repeat steps 2 thru 3 for a minimum of 10 times and write them down in a column. Open this dictionary list of 7,774 words and find the corresponding words then write them in a second column next to the numbers. Discard the numbers, connect the words and create your passphrase. I like to use all upper case letters with no spaces in between. You can choose your own formula. The rolls of the dice are what generate randomness and the word list gives you a large enough data set to pull from. Using this method a 20-word passphrase has256 bits of entropy but a 10-word passphrase at 128 bits is more than enough. How to memorize …