Reply to post: Re: "[..] demonstrates again that brain wallets are not secure and no one should use them."

Bitcoiners are just like everybody else: They use rubbish passwords

Seajay#

Re: "[..] demonstrates again that brain wallets are not secure and no one should use them."

That's the whole point of crypto currencies though; trust no-one (except yourself and the maths (and the group of large miners who de facto set the rules)).

For there to be a fall back option, you need to trust someone to be the central bank and have access to everyone's money. At that point you may as well use a real bank and a real currency.

So either you do make a backup and store it in a separate "Availability Zone" (your mum's house) or you accept that mindwallets are like cash, let go of a bank note on a windy day and it's gone, no fallback.

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