Ledger doesn't show transaction, it shows up in Electrum. What's going on?

[hosseinimr93]

I was thinking seed phrase is the mnemonic for the private key, but since private key is actually a bitcoin address, it's not. The seed phrase is the mnemonic for the MASTER private key.

A seed phrase (which is called mnemonic phrase as well) is a series of words and can generate the master private key and numerous addresses.

Right? So private key = one bitcoin address (which can differ based on script type)?

A single private key can generate three types of addresses. A legacy address which starts with 1, a nested segwit address which start with 3 and a native segwit address which starts with bc1.

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[Bitcoin_Arena]

Right? So private key = one bitcoin address (which can differ based on script type)?

A single private key can generate three types of addresses. A legacy address which starts with 1, a nested segwit address which start with 3 and a native segwit address which starts with bc1.

Taproot address type?

Sorry for these basic questions. If you have a recommendation on an article/book/video for someone at my level, I'm all ears!

thanks.

Always feel free to ask any question. Members will be happy to help. These websites can be quite helpful in getting you started.

• https://learnmeabitcoin.com
• https://www.lopp.net/bitcoin-information.html. You will get many more resources under this second website.

[ContourCool]

So then, is this guy wrong?

https://6102bitcoin.com/faq-bitcoin-seed/#All-seeds-are-not-created-equal

In his terminology he has this:

Private Key = A secret 256 bit number that you use to spend bitcoin   
Other names = Secret Key

But you're saying that he should have said Master Private Key, not private key?

[nc50lc]

So then, is this guy wrong?

He's not wrong but the article is not contradicting the replies here.

The equivalent to "master private key" that they are talking about is the "master extended key" mentioned in the article.
That master private key is used to derive the wallet's private keys and public keys where the addresses are derived from.

[ContourCool]

Thanks for this info.

I feel sure I've come across these concepts before, but the problem with bitcoin is that... there's SO DARN MUCH to learn, and I have a head kind of like a bucket. It's kind of full, and if I learn more stuff, some of the old stuff has to go.

Appreciate that there's people like you guys who can clarify!

 

[Cricktor]

If I remember correctly a private key (that's a 256bit number, idealy random) can derive 6 different address types (7 if you count the rare P2MS type).

• Derive an uncompressed public key and use that for the ancient P2PK type "public address" (pay to pubkey)
• Derive an uncompressed public key, hash it with SHA256 and RIPEMD160 and you get a P2PKH type public address, those that start with 1... (pay to pubkey hash)
• Derive a compressed public key, hash it with SHA256 and RIPEMD160 and you get a P2PKH type public address, those that start with 1... too, and are not the same as no. 2 (pay to pubkey hash)
• P2SH or P2WPKH-P2SH, you lock the coins to a hash of a redeem script, which gives you a public address that start with 3... (pay to script hash; nested segwit)
• P2WPKH, native Segwit in Bech32 notation gives you the public addresses that usually start with bc1q...
• P2TR, Taproot in Bech32m notation gives you the public addresses that start with bc1p...

(I'm simplifying things and the Bech32 part is a bit incorrect, but for the sake of simplicity...)

[nc50lc]

If I remember correctly a private key (that's a 256bit number, idealy random) can derive 6 different address types (7 if you count the rare P2MS type).

It's okay not to count P2MS since it doesn't have an address, just bunch of public keys;
In that sense, count P2PK out as well since it's literally "Pay-to-Pub-Key", just a public key.

BTW, it's been a long time since I read "public address" to refer to "address".
I usually only use it to refer to my addresses that are already shared in public.

[Cricktor]

...
BTW, it's been a long time since I read "public address" to refer to "address".
I usually only use it to refer to my addresses that are already shared in public.

You're likely quite right, P2MS is realy rare and uncommon. And Pay-to-PubKey has likely only a relevance for the first few tenthousend blocks until it has been replaced by P2PKH.

In the context of Bitcoin private key, public key and address I like to call the latter "public address", because, well, it's supposed to be public and revealing it is no problem, except if you make it clear it's your Bitcoin address which would allow an attribution of the address to you.