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Topic: private Key ? (Read 748 times)

legendary
Activity: 4466
Merit: 3391
October 01, 2017, 01:53:05 AM
#25
what is private key and how this key work ?

private key is your secret password aside to your existing one, and its very important to keep because without this private key you wont able to open/control/manage your crypto wallet. and keep it on you mind that you cant share this private key to anyone/anybody to avoid you to get hacked. private key works to retrieve, open, access your crypto wallet.

You are confusing the "wallet" with "address". They are not the same thing.

Here is a simplified explanation of the major terms:

Bitcoins are sent to and from an address.
A private key allows you to send bitcoins from an address.
A wallet is a container that holds private keys (and their associated addresses).
A seed is used by a wallet to generate private keys.
A password is used to encrypt a wallet so that only you can use the private keys that it contains.
legendary
Activity: 1232
Merit: 1005
October 01, 2017, 01:17:35 AM
#24
Read the bitcoin wiki, or the intro videos for example in any wallet site or bitcoin.com
newbie
Activity: 19
Merit: 0
October 01, 2017, 12:53:43 AM
#23
from name it is like your house door key you must safe it to safe your house


so get paper and write it then safe it

if internet drop or war III start will help you
full member
Activity: 403
Merit: 100
September 30, 2017, 11:38:08 PM
#22
what is private key and how this key work ?

private key is your secret password aside to your existing one, and its very important to keep because without this private key you wont able to open/control/manage your crypto wallet. and keep it on you mind that you cant share this private key to anyone/anybody to avoid you to get hacked. private key works to retrieve, open, access your crypto wallet.
newbie
Activity: 4
Merit: 0
September 30, 2017, 12:17:16 AM
#21
How does one go about finding the private key that belongs to his/her hardware wallet?
newbie
Activity: 8
Merit: 0
September 29, 2017, 10:13:30 AM
#20
Private key serve as your password in your wallet. Don't share it nor give it to others.
member
Activity: 96
Merit: 11
September 29, 2017, 09:53:06 AM
#19
Here is the definition of private key in from bitcoinwiki:
"A private key in the context of Bitcoin is a secret number that allows bitcoins to be spent. Every Bitcoin wallet contains one or more private keys, which are saved in the wallet file. The private keys are mathematically related to all Bitcoin addresses generated for the wallet.

Because the private key is the "ticket" that allows someone to spend bitcoins, it is important that these are kept secure. Private keys can be kept on computer files, but in some cases are also short enough that they can be printed on paper.

Some wallets allow private keys to be imported without generating any transactions while other wallets or services require that the private key be swept. When a private key is swept, a transaction is broadcast that sends the balance controlled by the private key to a new address in the wallet. Just as with any other transaction, there is risk of swept transactions to be double-spending."

Do some reading.   The answer is out there, it's public.   Do a search for "RSA" the company which brought public/private key pair encryption to the market place.

There are 2 things to learn.   asymmetric encryption/decryption and digital signatures with use this encryption.

One more time,  a private key is created by multiplying two prime numbers together, the product of the multiplication becomes the public key.

7 prime number 1
11 prime number 2

7 * 11 = 77

77 is the public key

7 and 11 make up the private key.

77, the public key is used in math function to encrypt messages
7 and 11 remain private and only used by the person who wished to decrypt the messages.

I won't go into the math, it' not important and people can look it up if they want proof.

Next we can use this process of encryption and decryption to create digital signatures used by the bitcoin system to verify the true identity of a person who claims to have ownership of a receiving transaction.  When you contact amazon.com to buy something, how do you really know it was amazon that sent you the web page before you give up your credit card number.   Your computer uses encryption to verify the digital signature sent by amazon.  I won't go into the details.  Want proof, google "how do digital signatures work".

If we use prime numbers with thousands of digits  to generate public keys all the computing power on earth could not factor out the individual primes used to make that public key in billions of years.  The NSA the largest code breaking entity in history is powerless against this encryption.

legendary
Activity: 2716
Merit: 1225
Once a man, twice a child!
September 29, 2017, 04:12:41 AM
#18
What is a Privet key? it like a password that is provided by your wallet so save it at your note or memo.
private key is the unique  long password to avoid  any body can try to login your account or somebody try to crack your account  if you have private key it means your wallet is safe..


No. You both have no idea what you are writing about. Please stop spamming nonsense just to increase your post count.

Ok, let us assume both were wrong in explaining what question was asked. It should have been your responsibility as a high ranked memeber of this forum to put them through and help out the OP rather than castigating them for spamming.
newbie
Activity: 10
Merit: 0
September 29, 2017, 12:45:45 AM
#17
In cryptography, a private key  is a variable that is used with an algorithm to encrypt and decrypt code.
full member
Activity: 238
Merit: 100
Presale is live!
September 28, 2017, 10:01:07 PM
#16
A private key unlocks the public key to decrypt data. This gives the user control over ones funds as access to the private key is what's needed to control it.
member
Activity: 96
Merit: 11
September 28, 2017, 05:19:32 PM
#15
Modern encryption is accomplished using 2 keys which are bound by the relationship of the product of very large prime numbers.

So a private key would be made up of 7 and 11, both primes.  Multiply them together and we get 77.

I tell the world to use the number 77 with some special functions to encrypt messages they want to send me.  The number 77 becomes public and I tell the whole world about it.

I then use the numbers 7 and 11 to decrypt them with another set of math functions.  I must never tell people about 7 and 11.  These numbers are short and only an example.

Now replace 7 and 11 with huge prime numbers.  

What is important is that we use the product of the 2 primes to encrypt and the individual primes to decrypt and the 2 prime numbers we choose must be kept secret.
hero member
Activity: 823
Merit: 500
SquidCoin.cash
September 28, 2017, 02:51:39 PM
#14
Private key is the most important thing for you . If you somehow lost your Myetherwallet private key you will lost your all of your coins that were stored in myetherwallet . So keep your private key in a safe place  Smiley Smiley Smiley Smiley Smiley
newbie
Activity: 58
Merit: 0
September 28, 2017, 01:50:45 PM
#13
its like your password for email.
if someone know the password of your email, he can acces your email, so if someone know your private key, someone can acces to your bitcoin address too
hero member
Activity: 1008
Merit: 510
September 28, 2017, 01:49:13 PM
#12
what is private key and how this key work ?

The way Bitcoin was designed, it is built on the blockchain which is often described as an open ledger. The public keys are on the public ledger for anyone to see how many Bitcoins are in an address, and all information about transactions including where they go and how much and what comes in and how much and where it leaves. What it doesn't tell you is who those addresses belong to and how to access them.

This is the reason for the private key. It's the only was to access an account. Anyone that has it can move Bitcoins off the address. It unlocks that address, hence the name "key".
member
Activity: 96
Merit: 11
September 28, 2017, 01:25:37 PM
#11
It would help for everyone to get a handle on what encryption is all about, it's history, why we need it and how we got where were we are today.  Everyone uses it.   Buy from any entity over the WEB with a credit card and you are using it.

A good book which will help people get a better idea of how all this fits together is.

"The Code Book"  The science of secrecy from ancient Egypt to to quantum cryptography.

Author Simon Singh.  The chapter on public/private key pair encryption (asymmetric cryptography) is very good and easy to understand.

newbie
Activity: 2
Merit: 0
September 28, 2017, 05:36:24 AM
#10
The private key is like your password so you should not give this key to anyone because someone who holds the key is the one who holds the coin number in your wallet.  Shocked
full member
Activity: 202
Merit: 100
September 26, 2017, 12:07:09 PM
#9
private key same as password. but you can not  change it or you can not reset it
full member
Activity: 144
Merit: 100
September 26, 2017, 10:44:12 AM
#8
Yes the private key very important, always store it in a save place and make some backups of it so you can't loose it
full member
Activity: 267
Merit: 100
September 25, 2017, 09:14:16 PM
#7
Your private key is everything! Do not give away control of this. In Bitcoin when you send a transaction you are doing so with a public and private key. Public key is like your email address and private key is like your password.
legendary
Activity: 4466
Merit: 3391
September 25, 2017, 04:26:01 PM
#6
What is a Privet key? it like a password that is provided by your wallet so save it at your note or memo.
private key is the unique  long password to avoid  any body can try to login your account or somebody try to crack your account  if you have private key it means your wallet is safe..

No. You both have no idea what you are writing about. Please stop spamming nonsense just to increase your post count.
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