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This is not financial advice. The questions being posed here are for academic curiosity only.
Another thing is some types of randomness are easy to quantify, like number of coin flips or dice rolls.
But if you are relying on the obscurity of your process, it's hard to quantify how unknown it really is.
Is that the issue?
If so, I think we talk about this in a misleading way when describing security.
I think most people just haven't thought about it as deeply or as meta as you.
It matters for helping people understand the actual threat environment they're in, as well as demystifying some of this stuff.
I'm usually just content if I can get people to understand that bitcoin doesn't "exist" in their wallet...
If the process were unknown, but enough known keys were generated from said process, mathematicians could probably work out a way to guess the search space.
That makes sense. Is there any risk for a single key, other than the process becoming known?
Just that, to do it well enough to not get guessed, is more complicated to work out, than just using dice lmao.
A one time use psuedo random process could be created, but....no lmao
This was to help me check my intuition about what's going on.
Even if I rolled my own process, I'd do enough reps to have high entropy.
I think I'd still be a bit concerned if you "hand-rolled" your own low-entropy-but-unknown process. The problem is the "if I thought of it maybe someone else would've thought of it" problem.
It not only has to be an unknown process, it has to be a process that someone else isn't likely to think of or stumble into