Replying to Avatar TK SuitCoin.exe 80HpW

Indeed but the private-public key cryptography is what makes it possible so key 🔑 is the correct verbiage to use to understand what's goin on.

Best way to try to think about it is as a safe deposit in cyberspace you have the key that only you have access to and you know the numerical box in which only your key can open nobody else can move that Bitcoin without your key or explicit cooperation
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star girl 1mo ago đź’¬ 1

ok, so:

1) there is no “digital bitcoin” money. no blockchain of each coin floating around from “wallet” to “wallet.” there is only a ledger recording transactions.

2) however, in order to record the transaction there has to be a digital “address” or location or identity encoded. an association. this is what you/all refer to as a “key”? no: there is first an address or location (you are calling this a “safe deposit box”) & then there is the “key” which is essentially authority to transact. Transact is publishing a new location of amount/s to the bitcoin ledger.

What you are calling “wallet” is the location (safe deposit) but really is an association or link of the amount on the ledger to a unique code (address/identity/location/safe deposit) & “key” is authority to transact or publish a new location of said amount/s associated to that code to the bitcoin ledger?

When people are “purchasing” “bitcoin” they are purchasing the right to publish or disperse encoded/linked/associative amounts & destinations of new associations to the ledger? Trying to understand what people are buying, what a wallet is, and what a key is ACTUALLY.

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TK SuitCoin.exe 80HpW 1mo ago

Almost, The keys are derived from 2048 word list. Every combination of private keys is technically already known but the ability for anyone to find yours is near impossible.

When you're buying bitcoin you're not buying the right to move, the key you create does that, when you buy bitcoin from an any exchange or another person you are essentially telling them here's my address/location/safe deposit (public key) send the bitcoin is bought here. Which is then in turn protected by your private key which only allows you authorization to move it, this only applies if you take self custody. If you leave your coins on coinbase/kraken/strike/river you only have an IOU that is in their database.

Check out the private key list here

Allprivatekeys.com

Pick a number between zero and 14474011154664524427946373126085988481604695534884363047825645392689770186792 at the bottom of the page and see if you find some bitcoin. The probability of this happening is like finding a specific atom in the observable universe that I've chosen for myself.