Public & Private Keys Explained (Litecoin/Bitcoin)

Public & Private Keys Explained (Litecoin/Bitcoin)



By now you have most probably already heard of the term Public & Private keys, but what exactly are they and more to the point what do they even do?

Note, 204 Tresvigintillion is the amount of time a standard desktop PC would take to crack a key – via Howseucreismypassword.net

Bloomberg Video: http://www.bloomberg.com/news/videos/b/9a33c478-516f-4fc9-8a11-0e9cb7c5b066)

🎧 Music:
♪ Kontinuum – Aware
♪ L’impératrice – Vanille Fraise

45 Comments

  1. i have 52 character on my private key is that normal ??

  2. So, what have they saved on a blockchain? What is the message saved in a blockchain ? How come to manage the data if there are many, say 100000000 transaction every minutes? Is that every transaction, from the start to the end, replicated and saved in a number of computers, privately owned by the miners or companies?

  3. Great video, thanks very informative 😉

  4. Question: these private keys has to be stored on bitcoin server right? Where is that ? And while guessing it will take long , what if someone hacked the server and stole everything from there

  5. Great content

  6. Jason Sutton

    i didnt understand how to receive ect

  7. so a public key is basically a public address

  8. 1800splitair

    fanks meat!

  9. Mitchel Rieger

    Subscribed. GReat vid

  10. In 2015, I can't recall how, I generated a BTC address (not wallet) on Blockchain. And I also forgot how, but I generated 17 deposits of various amounts of BTC, now totaling around $93. Today, in 2017, I opened a Blockchain WALLET and somehow miraculously got the BTC address and its ~$93 transferred. All well and good. BUT, now I've tried to send BTC to Cryptopia, but I'm being asked for a private key. I have no idea where to find it. I have the BTC address from 2015, the wallet ID, and that's it. So now the BTC is stuck lying fallow in the Blockchain wallet. How on earth can I find my private key? Thank you for any help you can give your gram from another parent in the States. Happy New Year.

  11. Gerry McLoughlin Naples FL Realtor

    Thank you!!

  12. good info! I like your vids so far

  13. Oliver Lorenzo

    Now that is how you explain it! Thanks man!

  14. karan sanwal

    Do these private and public key remain permanent till you use bitcoins? or are they like OTP?

  15. Samruddh Shah

    what simple explanation thanks

  16. David Hutcherson

    With no centralize server how does the private key work. Because in essence someone else has to have your private key to verify if it works like a password. You never explain this concept

  17. Crypto Rootz

    0.000000520

  18. So the homie gave me his Private key how do i use it??

  19. sunil bidder

    Hi,

    I am building a website for my client and he needs a bitcoin payment method in it but when I am integrating in the website, it is asking for master key of 128 or 111 (this is exactly what system says :- Electrum Master Public Key is invalid. Must be 128 or 111 characters long, consisting of digits and letters.)

    So can you help me from where I can generate the master key?

  20. This is going to sound weird. I created a coinbase mobile account and got a bitcoin address. But I have no idea what my security key is.

  21. Mauricio Rodriguez

    Question: does each transaction have a public/private key? Or do you just have ONE private key?

  22. i still have so many questions, lets say you have 10btc on a coldstorage paper wallet, and u want to move 1btc to another wallet without leaking ur private key, how do you do that?

  23. Was it assumed that a private key will be guessed manually by a person? Lol

  24. Darren Connelly

    Scenario: I send BTC from one wallet to another wallet/exchange. Am I right in saying that the new wallets address has a new private key and that is the key that CURRENTLY is most important to keep private as it’s that address that actually holds the funds now? if someone found out the private key to that old address on blockchain, aslong as no btc is stored on it then it’s useless until such time I sent bitcoin to it? or would the old address be assigned a new key anyway if you sent funds to it again in the future? Hope you know what I mean

  25. I had to dislike because you didn't "Expalin" private keys like your title.

  26. Shubham Gupta

    u look like the thinner version of samwell tarley from GOT

  27. Hannibalistic

    Hey Frankly, how do you actually purchase a BTC coin and own its private key without using an exchange like Coinbase?

  28. THANK YOU for using the postbox analogy! HUGE thank you. You are the only person who helped this make sense to me!

  29. Can you create as many public address as you like?

  30. GREAT EXPLANATION of a complicated topic. Thanks!

  31. Do some wallets use a private key and others a seed instead ?

  32. is the seed the private key?

  33. Rampant King

    So i registered on one exchange and have BTC wallet there, so i want to deposit to that BTC wallet from my BTC wallet which is on hardware, but it says upload "private key" is it safe at all? Coz i don't trust exchanges

  34. The postman scenario is a great explanation. Thanks amigo

  35. 13 dislikes ? Idiots!!!

  36. Super clear video!!

  37. Mike Chandler

    Good info

  38. trompacoable1

    goooooood video!

  39. Jack Atherton

    Nice vid, thanks

  40. Aakash Hingu

    Thank you, Thank you, Thank you, Thank you,Thank you for the Postman analogy !

  41. Aleksandr Egoshin

    What if I simply steal your private key?

  42. Jake Pittman

    Great video, I like the clean visuals and editing. And the Red Dwarf reference!

  43. hi Frank, how do i find this private key in my browser? I have a dogecoin wallet that is locked, and im told to provide my private key

  44. Lynda's Online Income

    Is the Private Key just another name for the transaction ID or the hash# ? It's confusing as I don't see the words Private Key being used with any of my coin wallets.

  45. Ginny Sinclair

    Thanks for the informative video, so now we know what they are and what they look like, but we still don't know !where! to find them?

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