This is my first post so I'm not sure if presentations are requested.
I'm starting to try to understand bitcoin.
So, I've set up a wallet and eveything but I still have a few questions I cannot find answers to :
1) Is there a way to choose my Personnal key (using some sort of algorithme from a pass phrase) ?
- I get that if the passphrase is week, so will my "account".
2) People says that adresses are accounts, but also that each adress should only be used once. How is this working ?
3) Lastly, I'd like to try to understand how bitcoin transfers Work. But for that I need some .
- Any one would have even the smallest part of Bitcoin (Satochi if I'm not mistaken) to spare ?
- Here is my adress : 1CUtoK6PNcyUjaCPxHTmMAPFP2FWxXNSFn
4) How does change work ?
- I get that if you pay 1BT with an adress who has 2BT, then you get 2 transactions. 1 to send 1BT to the recipient, but then, you get another adress with the remaining 1BT ? But how do you get the private key of this adress ? As I seem to get : No privateKey, No Money !
Thanks for taking the time to answer all of my noob questions.
PS : Please also excuse my english, but this is not my native language.
Have a good day everyone.
1. Some wallets give you the option to choose your password, some others not. Which wallet are you using?
2. You can use an address as many times as you want. But keep in mind this: the more times you use an address >>> the more inputs you get. The more inputs you get= the more you will spend in transactions fees. To find out how fees work go here: http://bitcoinfees.com/
3. There are websites called faucets to get 'free' money.
4. Any Bitcoin address has its own private key. Some wallets can give you full control of your private keys while other don't. So, another time, which is your wallet?