Well… there are people who used Brainwallets to keep their BTCs under a single password. They have lost a lot. 4BTC… or even more. Brainwallet was described by Forbes in… 2012 The Ultimate in Mobile Money. But it was in 2012. It’s November 2013 right now and the situation has changed.

Brainwallets are not a solution right now. Not at all. Just because you think no one will ever break your password, you must know, someone surely will, and I am going to convince you. I will show you how easy it is to steal BTC from a Brainwallet. As you can see in the first example, a redditor writes: “The pass phrase was a line from an obscure poem in Afrikaans“.

Continue reading