Published on: 2019-03-06T01:37:35+00:00
A member of the bitcoin-dev community proposed a method of generating wallets using a list of 20 Chinese take-out menu items as seed phrases. However, another member pointed out that this method lacks sufficient security, providing only 77 bits of entropy and being vulnerable to brute force attacks within a few hours. They recommended using a BIP-39 seed phrase or incorporating additional secret phrases for greater entropy. Moreover, it was noted that some vendors print only 35 different combinations of Chinese food items, further reducing the security of this approach. The original poster acknowledged that their idea was merely for amusement and lacked practical applicability.In an email thread discussing Bitcoin development, Trey Del Bonis suggested that having 20 paper wallets might be excessive, although it would yield a staggering 390700800 possible wallets. Nevertheless, the speed at which mid-level hardware can check addresses (50k per second) means that all possibilities could be explored in just two hours. Consequently, Del Bonis cautioned against considering this method as a challenge for someone who discovers the 20 pieces of paper, assuming they are concealing the wallet. Instead, relying on a strong random number generator (RNG) would offer better entropy than trusting the printing company.Another proposal put forth by a Bitcoin developer involves creating a wallet seed from the numbers found in fortune cookies. Each number is estimated to possess approximately 6.6 bits of entropy, suggesting that around seven fortunes would be sufficient for a "very secure" wallet seed. To enhance security, it is recommended to divide the information between something physical and something memorized, making compromise more difficult. Additionally, this scheme allows for plausible deniability by generating decoy wallets using other fortune numbers. Although a Python script has been created to demonstrate the concept, it should be noted that the idea is still in its early stages, with concerns raised about potential weaknesses, such as individuals discarding their fortunes.
Updated on: 2023-08-02T00:32:53.894879+00:00