What cryptography *magic* makes mnemonic seed words work? How is randomness generated? Can seed words be imported into more than one wallet?
More on wallets and mnemonic code words – https://github.com/bitcoinbook/bitcoinbook/blob/f8b883dcd4e3d1b9adf40fed59b7e898fbd9241f/ch05.asciidoc
BIP39 – Mnemonic code for generating deterministic keys https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki
BIP32 – Hierarchical deterministic wallets https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki
These questions are from the MOOC 9.4 session which took place on March 9th, 2018. Andreas is a teaching fellow with the University of Nicosia. The first course in their Master of Science in Digital Currency degree, DFIN-511: Introduction to Digital Currencies, is offered for free as an open enrollment MOOC course to anyone interested in learning about the fundamental principles.
If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop
RELATED:
How do I choose a wallet? – https://youtu.be/tN6b62sEpsY
Hot vs. cold wallets – https://youtu.be/Aji_E9sw0AE
Secure, tiered storage system – https://youtu.be/uYIVuZgN95M
How do I secure my bitcoin? – https://youtu.be/vt-zXEsJ61U
HODLing and the “get free” scheme – https://youtu.be/MhOwmsW1YNI
How to get people to care about security – https://youtu.be/Ji1lS9NMz1E
Airdrop coins and privacy implications – https://youtu.be/JHRnqJJ0rhc
The price of losing privacy – https://youtu.be/2G8IgiLbT_4
Bitcoin as everyday currency – https://youtu.be/xYvvSV4mjH0
Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.
Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8
[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8
MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042
[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388
Subscribe to the channel to learn more about Bitcoin & open blockchains!
Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
source
Wat about the checksum
I have a question to complete this video ! in additional to the 12/24 words why can't we choose a 13th or 25th words, wich is a password to protect seedphrase? if someone steal my 12 words I will scream and suicide. So adding a password to complete the seedphrase is a good idea, and with that way we can show seedphrase without be scared, how do to that?
Sincerely a Fan!
thank you so much for making this stuff easy to understand.
Thank you for this video sir. One of my biggest fears of cold storage was that "what if" I loose the wallet and the manufacturer of the wallet goes out of business & and that wallet is no longer available. I have a much better understanding of what a mnemonic seed is now and with that understanding brings peace of mind. The cold wallet isn't important. The seed phrase is all that is needed, and it can be used on any cold wallet to restore my Bitcoin. Thank you for explaining it in simple English. Truly grateful.
Thanks Andreas, just was I was looking for!
Very easy to understand explanation! Do you have a video on how to best/easiest store your mnemonic seed?
Thank you Andreas
How do I add a seed to my existing cold storage wallet
Well done! I bet you saved many hours of searching/reading for your viewers! Many thanks once again!
Is there a way that Facebook could move everyone off of the existing platform and utilize Blockchain technology? Seems this would eliminate some Zucks problems.
Hey Andreas, I don't know if this is the right place to ask questions but I wanted to ask one.
Do you think bitcoin is going to lose value/volume when other alts can be traded/exchanged for fiat in the near future?
if that ever happensI was searching for this answer for a very long time
… wow … BIG THX* … even for "not-that-intense-IT-cracks" understandable … -_- … SINCERE APPRECIATION, dear Andreas* … !!!
Very interesting, I've learnt something today.
One caveat on moving the seed from one wallet to the other is they need to use the same derivation path. For Bitcoin not so much a problem, but for altcoins some wallet provider use different derivation paths (e.g. Trezor vs Ledger for Ethereum)
Andreas, what if a person choose some aleatory seeds, and after that he could access funds from other person? Could it be possible to create a program to create aleatory seeds and trying to discover other person wallet? Thanks.
Andreas the way you explain things is incredible. All of your content is next level mate. The crypto world needs many many more great minds like yours ??
Thank you for continuing to educate others AA. God bless.
Love me some AA!!
my 12 words that restore BOTH Coinomi and Jaxx LTC DON'T restore Loafwallet LTC … the 12 words created a new LTC wallet with Loafwallet
Coinomi and Jaxx have 1 balance (12 words) … and Loafwallet has another balance (same 12 words)
23 x 22 x 21 x 20 x 19 x 18 x 17 x 16 x 15 x 14 x 13 x 12 x 11 x 10 x 9 x 8 x 7 x 6 x 5 x 4 x 3 x 2 is not a significantly big number.
That's something new to learn.. Thanks!
❤️️
Im more educated than before….:D Feels great
These comment sections are not good for Andreas’ ego, or they are.. (depending on how you look at it)
Thanks sir nice explaination…..:-)
Best
Awesome video Andreas! We just covered this in our Bitcoin/Blockchain workshop last week. Loving all the hardware wallet, HD and mnemonic info.
now any human on earth is 12 words memory away from total freedom.. hello world?
Thank You Andreas!
Great explanation and series of videos! Pls continue with this series of Q&As, education is the key for everything 🙂
Thanks for the info A.A.
Wow, a video about mnemonic seed just after I created a video about the cryptosteel!
Andreas = The Best Ever
Thank you Andreas 🙂