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RE: Is it Wise to Store Bitcoin on a TREZOR Before and During Bitcoin Hard-Forks?

in #bitcoin7 years ago

Every bit of info I can get is helpful, so I appreciate you sharing your knowledge on this.

In the question that you pointed out, I was working from the (mis?)understanding that each public key has its own unique private key. All that I currently know for my Trezor is the MPK (24 seed-words), which, as I understand it, is the the key to having access to all the private/ public keys used within the Trezor.

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Yes, each public key has a private key. Did my statement somehow negate that?

In any case Trezor as you know has a long reputation of being very secure and safe so it's likely the number one safest place to store your Bitcoin now.

No, nothing you said negated it. I was just trying to clarify my understanding and my position. I have a MPK (24 seed words), but I don't know the unique private key(s) to the hundreds of public keys that I generated between my BTC wallet, DASH wallet, and ETH wallet on the Trezor. As I now understand it, I don't need to know those private keys because the MPK generates them (all private keys are stored in/ under the MPK).

I agree on your assessment of the Trezor, which is why I store close to all my BTC, ETH, DASH, and ZCASH on it.

@jamesbrown Sorry I didn't reply for a couple of days, I was on a flight from Bangkok to Amsterdam.

As to Trezor, if I'm not mistaken you have many encrypted private keys on your Trezor which can only be decrypted with your unique MPK.

No prob. I'll figure it out when I have to. For now, it's good enough to know that the MPK is the "key" that gives access to real block-chain ownership (private keys).