Hi My name is Ares, I am doing an educational video about "private key"

[AresTalk]

My name is Ares, I am doing a youtube channel called AresTalk;
I just published a general educational content
"AresTalk "Private key and public key" What do you need to know? NO COMPLICATE MATH CLASSSES!!
"
I hope it could help bitcoin starter to better understand the importance of protecting your private key;
I am doing my best to explain the mechanism without touching the technical aspects to intimidated a bitcoin beginner;
I will do more videos like that, hope you guys like it.
Here is the link:
https://www.youtube.com/watch?v=7Wq6oJ51agk&t=10s
https://www.youtube.com/watch?v=7Wq6oJ51agk&t=10s

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[odolvlobo]

I think you are spending too much time talking about private keys. Bitcoin users never encounter private keys. They only encounter addresses, seed phrases, and passwords.

These corrections and clarifications might be helpful.

A "seed phrase" or "recovery phrase" or "mnemonic phrase" is used by the wallet to generate all of the private keys managed by the wallet. Most wallets will generate a new private key every time bitcoins are received, so it is generally a mistake to ever associate a wallet with a single private key (the exception is a paper wallet).

If you have an "HD" wallet (the kind with a seed phrase), then you don't have to protect "your private key". The private keys generated by the wallet are generally not stored by the wallet. They are simply generated as needed from the seed phrase. Instead, you need to protect your seed phrase.

A seed phrase is not equivalent to a private key. It is not generated from a private key.

A bitcoin address is not an account number. It is better to think of a wallet as an account and an address as a payment ID.


This explanation of terms might also help:

I thought I would list some important terms and clear up some common confusion:

• Address: Bitcoins are sent to an address. An address is derived from its public key. It is not a public key or a wallet.
• Private Key: Used to control the bitcoins at an address. A private key is not a password or a seed.
• Public Key: A public key is used in a transaction. It is rarely seen, except  in a transaction. A public key is derived from its private key. It is not an address.
• Wallet: A wallet contains and controls private keys and their associated addresses. A wallet is not an address. A wallet typically uses a seed phrase to generate its private keys.
• Seed/Mnemonic/Recovery Phrase: Used by a wallet to generate private keys and their associated addresses. A seed phrase is not a passphrase or a private key. A seed phrase is also known as a recovery phrase because all of a wallet's private keys and associated addresses are derived from it.
• Passphrase/password: A passphrase is used to encrypt a wallet, private key, or seed phrase. A passphrase is not a private key or a seed phrase. However, sometimes a seed phrase will contain an extra word that is used like a passphrase.

Here are sets of terms that are frequently confused with each other:

• Public key <==> Address
• Address <==> Wallet
• Private key <==> Seed/Mnemonic/Recovery Phrase <==> Passphrase

Terms that should be avoided because they are ambiguous or are probably being used incorrectly:

• Wallet address: There is no such thing as the address of a wallet. As stated above, a wallet contains private keys and their associated addresses.
• Public address: Use of this term typically indicates a confusion between the terms "address" and "public key". All addresses are public.
• Public Key: Typically, this term is mistakenly used in place of "address".

[AresTalk]

Hi, odolvlobo, thanks for the corrections.
 I am trying to find a simple way to explain some basic ideas without touching the technical sides.
Finding some simple explanations to help people get some basic information is my goal for making the videos.
In future episodes, I will definitely improve the content quality.
Your post is very helpful for me.
Thank you so much for sharing.

[coolcoinz]

Think of adding a virtual desktop or a drawing board or some other aids. People like visual representations and will get bored after a few minutes of looking at you talk.
It's not a rule, some people can make it work without any visual help, like Andreas, but since you want to draw attention to your channel you should think of something that will make it stand out.
I've never seen anyone named after the god of war. Congratulations

[AresTalk]

Hi,coolcoinz, I think adding some visual representation is a great idea, definitely gonna do that.
As for the name, well, it started with a video game, everyone has been calling me that, so... it's too late to change it right now

[Saint-loup]

I think you are spending too much time talking about private keys. Bitcoin users never encounter private keys. They only encounter addresses, seed phrases, and passwords.
snip

I don't totally agree with that, many users prefer using private keys and single address wallets (paper wallets).
Because you can easily check your balance and your transactions on the blockchain at any moment, you can sign a message to prove you own that address/wallet whenever you want, and you can simply import your paper wallet in every software wallet by just flashing a QR code, and then deleting your software wallet after using it. Moreover you can secure your private key with a passphrase thanks to BIP38 encrypt feature.
At last, transaction fees are generally lower when you send funds from a single address than when you send them from several addresses at the same time.

[odolvlobo]

I think you are spending too much time talking about private keys. Bitcoin users never encounter private keys. They only encounter addresses, seed phrases, and passwords.
snip

I don't totally agree with that, many users prefer using private keys and single address wallets (paper wallets).
Because you can easily check your balance and your transactions on the blockchain at any moment, you can sign a message to prove you own that address/wallet whenever you want, and you can simply import your paper wallet in every software wallet by just flashing a QR code, and then deleting your software wallet after using it. Moreover you can secure your private key with a passphrase thanks to BIP38 encrypt feature.
At last, transaction fees are generally lower when you send funds from a single address than when you send them from several addresses at the same time.

I agree with what you wrote, but most people don't use paper wallets. Heck, most people don't even use wallets -- they have an account at some exchange.

At last, transaction fees are generally lower when you send funds from a single address than when you send them from several addresses at the same time.

That is not true. Transaction fees depend on the number of inputs, regardless of the number of addresses. If you send bitcoins that you received in several transactions, the fee will be the same regardless if they were received at one address or over many addresses.

[franky1]

A bitcoin address is not an account number. It is better to think of a wallet as an account and an address as a payment ID.

i would disagree with this statement. a TXID would b a payment ID as an address CAN BE RE-USED to receive multiple payments

the problem here is trying to translate bitcoin buzzwords and technology into analogies that the previous generations would understand, such as comparing it to fiat payment methods, is never going to be exact comparisons.

EG saying a private key is like a password that should never be told to others, is acceptable. but then explaining that the password uses special maths to create an account identifier(username/address) starts getting techy. then trying to explain the account identifier/addresses abilities, starts to veer far away from comparisons to things like online banking/paypal.

i think the best method of explaining bitcoin is not to try being so accurate or exact with a single explanation. but to have several layers of explanation. starting from a rough comparison to online fiat banking for newbies. and then the newbies can proceed to the next level where things become more exact with each level

[Saint-loup]

I think you are spending too much time talking about private keys. Bitcoin users never encounter private keys. They only encounter addresses, seed phrases, and passwords.
snip

I don't totally agree with that, many users prefer using private keys and single address wallets (paper wallets).
Because you can easily check your balance and your transactions on the blockchain at any moment, you can sign a message to prove you own that address/wallet whenever you want, and you can simply import your paper wallet in every software wallet by just flashing a QR code, and then deleting your software wallet after using it. Moreover you can secure your private key with a passphrase thanks to BIP38 encrypt feature.
At last, transaction fees are generally lower when you send funds from a single address than when you send them from several addresses at the same time.

I agree with what you wrote, but most people don't use paper wallets. Heck, most people don't even use wallets -- they have an account at some exchange.

At last, transaction fees are generally lower when you send funds from a single address than when you send them from several addresses at the same time.

That is not true. Transaction fees depend on the number of inputs, regardless of the number of addresses. If you send bitcoins that you received in several transactions, the fee will be the same regardless if they were received at one address or over many addresses.

I thought the same thing as you. I thought the fees were the same for utxos belonging to a single adress and utxos belonging to several different adresses. But I read since internally you need several partial signed transactions(because utxos come from several adresses) the fees are higher. I don't know if it's true or not.

[AresTalk]

I have just done a product review
"Seed Phrase/Private Key Storage Frozen Armor-BITHD #Crypto-wallet"

https://www.youtube.com/watch?v=j2SOkXIld8g&t=6s

I hope it will help people to know more about this type of product.

[atjiat]

The only place I use the private key is when using erc-20 wallets.  All other resources I have are stored on such wallets, which I get access to with the help of secret phrases, passwords, as well as personal identifiers, such as blokchaine info.  I think that not only private keys can give real security to all your means, but also a multi-level security system.  I mean that in the complex not only keys, but also passwords and all kinds of codes should be in your wallet, so that an attacker would have much more obstacles than just a private key.

[AresTalk]

The only place I use the private key is when using erc-20 wallets.  All other resources I have are stored on such wallets, which I get access to with the help of secret phrases, passwords, as well as personal identifiers, such as blokchaine info.  I think that not only private keys can give real security to all your means, but also a multi-level security system.  I mean that in the complex not only keys, but also passwords and all kinds of codes should be in your wallet, so that an attacker would have much more obstacles than just a private key.

Agreed, also, for bitcoin starter, the information is very overwhelming, you guys are really awesome with explaining the mechanism.

[NavI_027]

Hi, odolvlobo, thanks for the corrections.
 I am trying to find a simple way to explain some basic ideas without touching the technical sides.
Finding some simple explanations to help people get some basic information is my goal for making the videos.
In future episodes, I will definitely improve the content quality.
Your post is very helpful for me.
Thank you so much for sharing.

I know your intentions are good but like what others said, it has been discussed here couple of times already so don't feel bad if it seems other people doesn't fully appreciate it. But here's my tip, why don't you create a thread in your respective local board regarding this topic. I'm pretty sure your fellow countrymen, especially the beginnners or the ones who can't comprehend English language, will be glad to read such informative post. Good luck .

[barbara44]

Private key, what other function that private key has other than to use it to unlock your account and what other function does address have other than an identification of a particular account and an address for receiving fund, I think there is nothing to be learn about private keys here.

You would have just channeled this energy used for this tutorial into making people really understand the blockchain technology, because if there is anything to be learnt right now, it would be blockchain technology and not private key. You could have even done tutorial for cryptocurrency generally if you really want to drive traffic to you YouTube for you to make the AdSense money because I know that is your goal. I am not sure that you will get much people to go start leaning private keys for what?

[AresTalk]

Hi, odolvlobo, thanks for the corrections.
 I am trying to find a simple way to explain some basic ideas without touching the technical sides.
Finding some simple explanations to help people get some basic information is my goal for making the videos.
In future episodes, I will definitely improve the content quality.
Your post is very helpful for me.
Thank you so much for sharing.

I know your intentions are good but like what others said, it has been discussed here couple of times already so don't feel bad if it seems other people doesn't fully appreciate it. But here's my tip, why don't you create a thread in your respective local board regarding this topic. I'm pretty sure your fellow countrymen, especially the beginnners or the ones who can't comprehend English language, will be glad to read such informative post. Good luck .

Thanks, great advice, also doing that at the same time.