Bitcoin Forum
April 27, 2024, 03:29:00 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: really dumb question  (Read 404 times)
lorax2013 (OP)
Newbie
*
Offline Offline

Activity: 29
Merit: 0


View Profile
November 04, 2013, 04:29:14 AM
 #1

Sorry total noob question.  I'm told the best way to safely store bitcoins is in a paper wallet.  I'm told to go to www.bitaddress.org and, for greatest safety, download and run their "wallet generating software" while offline.  So this will give me a wallet with a public and a private key - and supposedly nobody else can know the private key because the wallet was generated offline and it is only printed on paper. 

Then I'm told it is safe to start transferring bitcoins to the wallet by giving out the public key (bitcoin wallet address).  I'm told that at some future point, when I want to transfer coins out of this wallet, I can go to www.blockchain.info for example and then I'll have to enter the private key to access that wallet and get the coins out.

My dumb question is:  If nobody knows the private key associated with this wallet and it was never sent out to the cloud, how does the network know if the private key is correct once I finally enter it to access my bitcoins?   Or to summarize colloquially, "How do it know?"   
1714188540
Hero Member
*
Offline Offline

Posts: 1714188540

View Profile Personal Message (Offline)

Ignore
1714188540
Reply with quote  #2

1714188540
Report to moderator
"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714188540
Hero Member
*
Offline Offline

Posts: 1714188540

View Profile Personal Message (Offline)

Ignore
1714188540
Reply with quote  #2

1714188540
Report to moderator
Shallow
Sr. Member
****
Offline Offline

Activity: 938
Merit: 255


SmartFi - EARN, LEND & TRADE


View Profile
November 04, 2013, 05:27:31 AM
 #2

Think of it like the missing piece of a puzzle. The client can decide if what you're giving it fits with the data it already has.

████
██
██
██
██
██
██
██
██
██
██
██
████
...The Open..............
...Lending Platform...
████
████
████
████
████
████
████
████
████
████
████
████
████
▄▄█████████▄▄
▄█████████████████▄
▄██████████▀▀▀▀███████▄
█████████▀        ███████
████████▀        ▄█████████
█████████       ▄▀▀██████████
█████████     ▄▀   ▀█████████
██████████  ▄▀      █████████
█████████▀▀       ▄████████
███████        ▄█████████
▀███████▄▄▄▄██████████▀
▀█████████████████▀
▀▀█████████▀▀
.SMARTFI..████
████
████
████
████
████
████
████
████
████
████
████
████
...Join the SmartFi.....
...Token Sale...
████
██
██
██
██
██
██
██
██
██
██
██
████
████████████████████████████
████████████████████████████
████████████████████████████
█████████████████▀▀  ███████
█████████████▀▀      ███████
█████████▀▀   ▄▄     ███████
█████▀▀    ▄█▀▀     ████████
█████████ █▀        ████████
█████████ █ ▄███▄   ████████
██████████████████▄▄████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████▀▀▄██████▄▀▀████████
███████  ▀        ▀  ███████
██████                ██████
█████▌   ███    ███   ▐█████
█████▌   ▀▀▀    ▀▀▀   ▐█████
██████                ██████
███████▄  ▀██████▀  ▄███████
████████████████████████████
████████████████████████████
████████████████████████████
coqui33
Full Member
***
Offline Offline

Activity: 198
Merit: 100



View Profile WWW
November 04, 2013, 05:39:13 AM
 #3

A mathematical operation can generate a unique address from a given private key, but no no operation can go the other way. So when you try to use a privkey to spend coins that were sent to an address, the software gens a trial address from the privkey that you submitted. If the trial address matches the one where the coins were stored, you're good. If not, you're not.

Armed Citizens and the Law -- NRA-certified firearms instructor
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!