Thanks, Mal!
So every account number is associated with a unique password and there are no duplicates through the Elliptic Curve. If I use a password to create an account offline and never register this account on the blockchian, I still can send money to this account. Is that becasue the system will record any receiving money transactions? This sounds like a cold wallet for me.
Ok this may help bridge the gap, in an over simplified comparison: Bitcoin WIF can be compared to Crypti passphrase.
So we know what Crypti passphrases are, but what is a Bitcoin WIF?
WIF (Wallet Import Format) is used in Bitcoin for things like cold storage wallets and many other things..
All of your Bitcoin wallet addresses have one and it and be found from your wallet command line.
So lets look at the example of Paper wallets
- Ok to the Left we have your standard BTC address, as you can see this is used to Load (send BTC to it) and Verify (block explorer check the balance)
- To the right we have a WIF private key used to Spend (use the BTC)
So how do we use/spend that BTC?
You simply go to your BTC wallet console and copy the WIF in to the command line
with the command
importprivkey 5HpHagT65TZzG1PH3CSu63k8DbpvD8s5ip4nEB3kEsreAnchuDf
The wallet then "hashes" the key pairs and address from this number
you know have a address to send BTC to, the above WIF hashes to
1EHNa6Q4Jz2uvNExL497mE43ikXhwF6kZmSo what does this have to do with
Crypti?
Ok remember I said Crypti passphrase are "like" BTC WIF
Let use the same string of numbers and letters above from the WIF and put it in to a Crypti wallet as a Passphrase
Here is what we get
Account:
14078299672521807431CCrypti uses a different Hash algo then Bitcoin (see above)
However the
same WIF entered in to
any Bitcoin wallet
anywhere will
always give you the
same address in to the wallet
I think by now your seeing where this comparison is going.. but if not..
the
same Passphrase entered in to
any Crypti wallet
anywhere will
always give you the
same account in to the wallet
Please note I have over simplified this a little, it is much more complex when you get in to the code...
To sum it up entering
5HpHagT65TZzG1PH3CSu63k8DbpvD8s5ip4nEB3kEsreAnchuDf in to
Bitcoin wallet gives you
1EHNa6Q4Jz2uvNExL497mE43ikXhwF6kZmCrypti wallet gives you
14078299672521807431CI guess I never thought about it but if you are having a hard time coming up with a good Crypti passphrase and you own Bitcoin, you could always use the same. I would not recommend this, it would be like someone getting your car keys and then also robing your house with the key on the same ring..
So moral of the story in Bitcoin the wallet stores this info in the wallet.dat file, in Crypti you store it in your Brain. Oh and that means ppl can't hack your wallet and steal your Crypti keys oh and with Crypti the passphrase can be up to 100 characters and use ANY unix character like ¿ Ð ‡
Because if you haven't put it together by now, if someone guesses your WIF its the same as if they guess your Crypti passphrase
So bitcoin uses 51 characters (only numbers and letters) and always start with the number 5.
Please understand guessing either a hard Passphrase or a WIF is very very hard for either of them.