Private Key Generation
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Hi iv’e been doing some reading about cryptography and I was wondering if there was a way to use some known parameters, e.g. a number sequence / pin or a password etc that could generate the same private key repeatably.
This is just an idea but it would then allow me to hold the contents of my wallet on the blockchain without the need for a physical wallet file as I could just import a key into a wallet that was generated from my memorable password/pin etc?
I could actually generate a private key like this then extract the public key and save it before deleting all traces of the private key.
in theory being able to use any hardware anywhere to get access to your address by generating the private key on the fly.
This may not be possible but I think this could be very powerful if it was.
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Exist and it’s called brain wallet and also could be very weak and hackable because humans are weak in entropy.
Edit: One of the many examples http://www.reddit.com/r/Bitcoin/comments/1ptuf3/brain_wallet_disaster/ -
oh ok thanks for the link :-)
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Looks like the guy in your post used a line from a book which was an easy match for a bot.
I think if I come up with a good passphrase code combination this could be a real winner.
