Redeem private key bitcoin mining

A user can create a public key by performing an operation with the private key. Typically, we do another operation on the public key to get a public address. This is what you hand out to other users when you want them to send funds to you. If you sign a message i. They use your public key to check if the message was really signed by you, and to ensure it wasn't altered after that. But you should never reveal your private key.

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WATCH RELATED VIDEO: 144 Bitcoin Leaked private keys, How to add them and install Electrum Bitcoin Wallet 2020

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Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. Connect and share knowledge within a single location that is structured and easy to search. I received Some mining profits to my Blockchain.

However the person who sent them to me send them to me with a private key. They then wanted me to send them money to unlock the private key. Does anyone know of a way that I can get that private key unlocked so I can recoup my profits from them without paying them to do so? First, confirm that you did indeed receive a private key. On Bitcoin mainnet, private keys are almost always distributed in a format that starts with either a K or an L capitalized in either case and are usually 52 alphanumeric characters long.

Here's an example:. If you instead received a code starting with a 1 , a 3 , or bc1 , then what you received was an address. If you received a hexadecimal code that was characters long and started with 04 or 66 characters long and starting with 02 or 03 , then what you received was a public key. None of those are private keys, and there's no way to get the private key from an address or a public key.

Here are some examples of addresses and public keys:. If you have any other type of information, that's probably also not a private key and it may have nothing specific to do with Bitcoin. If you do indeed have a private key, you can import it into most Bitcoin wallets. See the documentation for your specific wallet for instructions if you can't find the documentation for importing private keys, feel free to ask a separate question.

You don't need any special information to "unlock a private key". In addition, the normal way to receive mining profits is by a normal Bitcoin payment to one of your addresses; I've never before heard of any mining pool paying profits by distributing private keys as that has all the same costs plus a large additional security risk.

It seems likely to me that the person you're communicating with is attempting to steal money from you, so be careful in your dealings with them. You can see my previous answer here for some information on choosing a wallet. For example, importang a private key in Electrum for an address starting with 3 is here not the key, the address that the key makes - it is slightly different if the address where the payment was sent is starting with either a 1 or bc1.

If you do not know which address is correct you can import the private key multiple times. You can ask an additional question if you need to, it may have already been answered if you search. But, the private key may not be a raw private key and may already be formatted for the address type. Sign up to join this community.

The best answers are voted up and rise to the top. Stack Overflow for Teams — Collaborate and share knowledge with a private group. Create a free Team What is Teams? Learn more. Unlocking a Private Key from watch status Ask Question. Asked 3 years, 10 months ago. Active 3 years, 7 months ago. Viewed 2k times. Improve this question. J posh J posh 1 1 1 bronze badge. You are almost definitely being scammed. Private keys do not need unlocking.

They are either lying about what they sent to you, or are just plain trying to scam you — Raghav Sood. Thank You that is what i believed as well. I have not a d will not give them money. It shows up in my block chain as watch only. Agreed, sounds like a scam to me! Do not send any more money to them — chytrik. Possible duplicate of I need to recover private key? Add a comment. Active Oldest Votes. Improve this answer. David A. Harding David A.

Harding If you have the private key you do not need to pay to unlock it. First you need a wallet and then you need to import the private key. Importing the private key will be a different procedure depending on what wallet you choose. Willtech Willtech 3, 2 2 gold badges 11 11 silver badges 41 41 bronze badges.

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Bitcoin Private Keys: Everything You Need To Know

Startup times are instant because it operates in conjunction with high-performance servers that handle the most complicated parts of the Bitcoin system. In short, not really. The Electrum client never sends private keys to the servers. In addition, it verifies the information reported by servers, using a technique called Simple Payment Verification. The client subscribes to block header notifications to all of these, and also periodically polls each for dynamic fee estimates. For all connected servers except one, that is all they are used for.

TREZOR ONE CRYPTOCURRENCY WALLET BLACK the popular original hardware wallet for securely managing, storing, and using your private keys. Super easy and.

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It's like passively playing the world's worst lottery in terms of odds, but hundreds of thousands of times every second. It's fun but the odds are astronomically low. This is a rare care where "astronomically low" is actually underselling how unlikely something is. I mean, I found 10 used wallets not within pages of the first nor last page of his website in roughly 5 minutes. Most had their last txn out roughly I've noticed that there are a few hardcoded ones on the final page, where the account exists and the key is wrong. I'd say odds are that the website is wrong, but you can always load those keys in a wallet and see if they give you control over the actual address. If that works, I'd assume it's the case that some people have used weak keys for example, a popular Ethereum wallet would actually generate bits of entropy but accidentally truncate it to 32 bits in an operation , and any funds in those wallets will have been snagged long ago. Point being: generate a private key properly, and no one will ever find it.

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redeem private key bitcoin mining

In this guide we will walk you through setting up your very own cold storage wallet for Bitcoin. We'll be discussing the completely free and highly secure 'paper wallet' method. Before diving into the process, you may be wondering, "What is cold storage? Although 'hot' online wallets like the Bitcoin.

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Up to $4.2 Billion in Lost Bitcoin Can Be Recovered – Be Wary of Scams

While paper wallets are a very secure way to store your cryptocurrency, you will at some point want to access those coins. Thankfully, while the process may not be particularly intuitive, it is simple to execute. The most common way to obtain a paper wallet is by purchasing bitcoin, litecoin, or another cryptocurrency at a bitcoin kiosk. A paper wallet will display two key pieces of information: a private key and a public address. As this is the key you use to send bitcoin from the wallet, it is extremely important that you keep it secure and secret.

What are private and public keys in bitcoin?

There's also live online events, interactive content, certification prep materials, and more. Ownership of bitcoin is established through digital keys , bitcoin addresses , and digital signatures. The digital keys are not actually stored in the network, but are instead created and stored by users in a file, or simple database, called a wallet. Keys enable many of the interesting properties of bitcoin, including de-centralized trust and control, ownership attestation, and the cryptographic-proof security model. Every bitcoin transaction requires a valid signature to be included in the blockchain, which can only be generated with valid digital keys; therefore, anyone with a copy of those keys has control of the bitcoin in that account. Keys come in pairs consisting of a private secret key and a public key. Think of the public key as similar to a bank account number and the private key as similar to the secret PIN, or signature on a check that provides control over the account. These digital keys are very rarely seen by the users of bitcoin.

Bitcoin wallet import format. In private key cryptography, the key is kept as a secret. The wallet creates public keys that are hashed and used as addresses.

Cryptocurrency wallet

A system and method for transaction bitcoin is described. Bitcoin can be sent to an email address. No miner's fee is paid by a host computer system. Hot wallet functionality is provided that transfers values of some Bitcoin addresses to a vault for purposes of security.

What Are Public and Private Keys?


A private key is a secret number that is used in cryptography , similar to a password. In cryptocurrency , private keys are also used to sign transactions and prove ownership of a blockchain address. A private key is an integral aspect of bitcoin and altcoins , and its security makeup helps to protect a user from theft and unauthorized access to funds. Cryptocurrency is controlled through a set of digital keys and addresses, representing ownership and control of virtual tokens.

Warning: Electrum versions older than 3.

If you browse the Internet, you might have heard about Bitcoins. Unlike regular currencies that are issued by central government regulatory bodies, Bitcoin is not issued by any authority. You can think of Bitcoin as an online financial network that people use to send payments from one person to another. You might have heard this term and our best guess is, it still sounds like technical mumbo-jumbo to you! Blockchain is an algorithm and distributed data structure for managing electronic cash without a central administrator among people who know nothing about one another. Stills sounds complex?

In my earlier guide on Bitcoin wallets , I have used two terms extensively- Private Address or key and Public Address or key. These keys are what makes Bitcoin the safest and most widely used cryptocurrency. It has a unique and specific number an address. And as the receiver, you have a p rivate address or key to unlock the mailbox and collect your belongings.

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  1. Mikakus

    What necessary words... super, a brilliant idea

  2. Megis

    Incredible ))))))))))))))))))))

  3. Sully

    Not always, sometimes even earlier =)