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Author Topic: Mycelium wallet - seed = private key?  (Read 27 times)
smashrc
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February 21, 2018, 07:29:23 AM
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I am using Mycelium wallet to store btc. Does this wallet has private key? All I found is call seed. Does "master seed" is equal to "private key"? i am trying to receive airdrop of Bitcoin Private, is Mycelium able to to get this airdrop?
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mocacinno
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February 21, 2018, 07:32:11 AM
 #2

I am using Mycelium wallet to store btc. Does this wallet has private key? All I found is call seed. Does "master seed" is equal to "private key"? i am trying to receive airdrop of Bitcoin Private, is Mycelium able to to get this airdrop?

a seed is not equal to a private key.
Basically, a seed is used to calculate a "master private key". Given a certain derivation path, "normal" private keys are derived from this "master private key". This is the short (easy) version, but as a normal user, you shouldn't worry about the technical part to much... Your wallet will take care of all these calculations and derivations for you. The only thing you should remember is that if you remember which wallet software you used, and you've written down the seed, there'll almost always be a way to restore your wallet if your pc crashes, or you accidentally delete your wallet.

I have never heared about Bitcoin Private, but i would like to warn you about airdrops that require you to share your seed, xprv or any other private key (i mean, really, these keys have the word private right in their name, it should be obvious they're not meanth for sharing).... These airdrops are *usually* scams that are started to collect private keys from unsuspecting victims in order to rob them later...
If you accidentally already submitted your seed to anybody, i'd suggest you to create a new, clean wallet, and move your funds ASAP, treat the old wallet as compromised and never use it again...

smashrc
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February 21, 2018, 07:59:15 AM
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Thanks mocacinno, now I understand what is the different of seed and key.

Yes, I know. I know that I shouldn't provide seed or key to anyone. It is like a password that should never pass out.

Here you can see the airdrop of Bitcoin Private, i think it is real.

https://twitter.com/bitcoinprivate

https://airdropalert.com/

https://btcprivate.org/
VitKoyn
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February 21, 2018, 08:02:11 AM
 #4

I am using Mycelium wallet to store btc. Does this wallet has private key? All I found is call seed. Does "master seed" is equal to "private key"? i am trying to receive airdrop of Bitcoin Private, is Mycelium able to to get this airdrop?
Master seed is not your private key but all your Bitcoin address private keys are encrypted in it. So is it possible to get those private keys? the answer is yes. If you are using an HD account in mycelium you have to get the private key by clicking export but that is not the private key that you need for you to be able to claim Bitcoin private because that is a BIP32 extended key. By using bip32.org, you will be able to see your private keys note that you have to change the derivation path for you to see the right private key if your HD account have 2 or more Bitcoin address and transfer all your coins to a new address before doing anything, also read this https://bitcoin.stackexchange.com/questions/57422/how-to-sweep-private-extended-key-from-mycellium-for-bitcoin-cash-coins

bug.lady
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February 21, 2018, 08:08:09 AM
 #5

I am using Mycelium wallet to store btc. Does this wallet has private key? All I found is call seed. Does "master seed" is equal to "private key"? i am trying to receive airdrop of Bitcoin Private, is Mycelium able to to get this airdrop?

a seed is not equal to a private key.
Basically, a seed is used to calculate a "master private key". Given a certain derivation path, "normal" private keys are derived from this "master private key". This is the short (easy) version, but as a normal user, you shouldn't worry about the technical part to much... Your wallet will take care of all these calculations and derivations for you. The only thing you should remember is that if you remember which wallet software you used, and you've written down the seed, there'll almost always be a way to restore your wallet if your pc crashes, or you accidentally delete your wallet.

I have never heared about Bitcoin Private, but i would like to warn you about airdrops that require you to share your seed, xprv or any other private key (i mean, really, these keys have the word private right in their name, it should be obvious they're not meanth for sharing).... These airdrops are *usually* scams that are started to collect private keys from unsuspecting victims in order to rob them later...
If you accidentally already submitted your seed to anybody, i'd suggest you to create a new, clean wallet, and move your funds ASAP, treat the old wallet as compromised and never use it again...
great answer, I may only add that you don't need to stick to Mycelium technology: your wallet may be recreated in any other wallet (Jaxx, Trezor, Ledger) supporting 12-word seed, as Mycelium does too. So the only information you need to store (and do it securely! never share or show it to anybody!) is your seed.

Pandacomel
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February 21, 2018, 08:11:25 AM
 #6

Mycelium is an iOS and Android Bitcoin wallet app. Very easy to install, for daily basis use.A Bitcoin wallet is a software program where Bitcoins are stored. To be technically accurate, Bitcoins are not stored anywhere; there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the person who owns the balance. Bitcoin wallets facilitate sending and receiving Bitcoins and gives ownership of the Bitcoin balance to the user.  The Bitcoin wallet comes in many forms; desktop, mobile, web and hardware are the four main types of wallet.

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