"[..] demonstrates again that brain wallets are not secure and no one should use them."
The very first phrase in the Bitcoin wiki on this subject is : "A brainwallet refers to the concept of storing Bitcoins in one's own mind by memorization of a passphrase. As long as the passphrase is not recorded anywhere, the Bitcoins can be thought of as existing nowhere except in the mind of the holder. If a brainwallet is forgotten or the person dies or is permanently incapacitated, the Bitcoins are lost forever. ".
My first reaction to that was Hoy Cow, how more useless can you get ?
If someone steals my Visa, I can have it blocked. If I lose my account password, I can go to the bank, prove I'm myself and get another one. If I lose my Internet access, I can go to the bank. With real money, there is always a fallback option.
This ? A knock on the head and your "money" is gone forever.
And you can't even light a cigar with it. Pff.
Biting the hand that feeds IT
