Which one is more important?
The private key is the most important, without it you won't have any bitcoins.If he encrypted his wallet and all his backups, the passphrase will be just as important lol
Topic: What is the difference between bitcoin wallet passphrase and private key (Read 1553 times)
March 02, 2014, 02:16:31 PM
If he encrypted his wallet and all his backups, the passphrase will be just as important lol
March 02, 2014, 01:28:10 PM
What is the difference between bitcoin wallet passphrase and private key?
You need a private key, but you don't need a passphrase.You do need to encrypt and backup your wallet.
Which one is more important?
The private key is the most important, without it you won't have any bitcoins.Without encrypting your wallet, you also potentially won't have any bitcoins.
March 02, 2014, 12:59:36 PM
What is the difference between bitcoin wallet passphrase and private key?
You need a private key, but you don't need a passphrase.
Which one is more important?
The private key is the most important, without it you won't have any bitcoins.
March 02, 2014, 07:18:31 AM
What is the difference between bitcoin wallet passphrase and private key? Which one is more important?
A wallet contains one or more private key (and the associated addresses). A private key is what allows you to spend the bitcoins at that address. Many people use the term "wallet" incorrectly when they mean "address".
A wallet passphrase is simply the passphrase used to encrypt the wallet. If the wallet is not encrypted then anyone the gains access to the wallet can copy the private keys it contains and steal your bitcoins.
Precisely.
March 02, 2014, 06:18:44 AM
What is the difference between bitcoin wallet passphrase and private key? Which one is more important?
A wallet contains one or more private key (and the associated addresses). A private key is what allows you to spend the bitcoins at that address. Many people use the term "wallet" incorrectly when they mean "address".
A wallet passphrase is simply the passphrase used to encrypt the wallet. If the wallet is not encrypted then anyone that gains access to the wallet can copy the private keys it contains and steal your bitcoins.
March 02, 2014, 06:09:08 AM
What is the difference between bitcoin wallet passphrase and private key? Which one is more important?
The private key is needed to spend your coins, the passphrase protects the key as it is usually encrypted. In theory you dont need a passphrase for your privatekey and just store it in plaintext somewhere but that is not a goos idea, as anyone who can access your privatekey can spend your BTC.
March 02, 2014, 05:43:06 AM
In that case if I lost my wallet file but still have the private key my bitcoins are safe?
Just import you private key to another wallet ... transfer the fund to another wallet (a wallet only you accces the wallet.dat file) and your BTC are safe
Import the key to blockchain.info .... or better just swipe it then transfer everything to your local wallet
March 02, 2014, 05:37:37 AM
In that case if I lost my wallet file but still have the private key my bitcoins are safe?
March 02, 2014, 04:48:23 AM
You choose the pass phrase!
The private key chooses you!
The private key chooses you!
March 02, 2014, 04:47:25 AM
What is the difference between bitcoin wallet passphrase and private key? Which one is more important?
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