Use #asknostr for more visibility while asking question
Keeping it simple:
Bitcoin are stored in the blockchain as UTXO.
Every UTXO hold a specific amount of bitcoin
Every UTXO is sent to an address
Who can prove to be the owner of an address can spent the UTXO associated on the address. To prove it, you have to use your private key.
The private keys are generated and stored in bitcoin wallet software.
An hard wallet, or hardware wallet, is a device (not a software) who can create and store a private key and never expose it to the world.
Normal and hardware wallet have backuo procedure for re-create your private key in case of disaster.
Long term storage require the user to have always a procedure to restore their keys even if the vendor of the hardware wallet don't exist anymore
Mr.Robot
npub1dt…7m357
2024-02-22 12:24:17
in reply to nevent1q…59ja
Author Public Key
npub1dtcn2yuw2w5rpz09azk47zxyf30zd6kgk2cnzgw78njpv0nn3xqqd7m357Published at
2024-02-22 12:24:17Event JSON
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"content": "Use #asknostr for more visibility while asking question\n\nKeeping it simple:\n\nBitcoin are stored in the blockchain as UTXO.\n\nEvery UTXO hold a specific amount of bitcoin\n\nEvery UTXO is sent to an address\n\nWho can prove to be the owner of an address can spent the UTXO associated on the address. To prove it, you have to use your private key.\n\nThe private keys are generated and stored in bitcoin wallet software.\n\nAn hard wallet, or hardware wallet, is a device (not a software) who can create and store a private key and never expose it to the world.\n\nNormal and hardware wallet have backuo procedure for re-create your private key in case of disaster.\n\nLong term storage require the user to have always a procedure to restore their keys even if the vendor of the hardware wallet don't exist anymore",
"sig": "95084dc1b7621e06cd7a06d40af48cbf04cfe6374761200d47e6fa2dbc5f803216ecc52e86267f238b93ddfc1ed997fe7dd950a03685b586a2aaac8b5a827954"
}