Antwort auf: Auf Trezor habe ich meinen Pin, meine Seed Phrase und meine Passphrase … aber was ist mein privater Schlüssel?

NOTE: This explanation is simplified because you usually do not need to know the ultra fine details. If you want to, feel free to research as deeply as you want.

A private key is basically just a number between 1 and 2^256. It is the key to unlock your space on the blockchain and access your coins.

Seed words are that private key made into an easy to use interface. So for all intents and purposes, private key = seed words.

PIN is the set of numbers that you use to access your Trezor. Once entered the Trezor can access the blockchain space used by the above referenced seed words/private key.

Passphrase – this is the big one. It has caused a lot of problems but also solved a lot of problems. It is a special lock created by you alone. It can be as simple or as complex as you like. You can even opt to not use it at all. Attributes of your passphrase (if you decide to use one):

1. Case sensitive. So ‚bitcoins rocks‘ is different that ‚bitCoin rocks‘
2. Spaces and special characters are allowed.
3. **IF FORGOTTEN OR LOST IT CANNOT BE RECOVERED IN ANY WAY**. You will LOSE ALL COINS that are associated with it.
4. You can have as many or as few as you want (even zero).
5. Each one opens a new secret location where you store as many or as few coins as you want (even zero).
6. If you forget it, you HAVE to remember it and enter it correctly to get your coins back. Period.
7. If your passphrase is ‚bitcoinrocks‘ and you type in ‚bitcoin rocks‘, it WILL NOT say ‚Incorrect Passphrase‘. It will open the space associated with the incorrect phrase and nothing will be there. This is by design.
8. It can be a great way to hide your coins in the event of a $5 wrench attack. Tell them your PIN. They open it up and steal the 0.3 BTC you have and walk away laughing. After they leave you put in your PIN, type in your passphrase and chuckle that they never saw the 3.2 BTC you have in the secret space protected by the passphrase.
9. BUT if you then forget your passphrase, you are 100% fucked. You will see the 3.2 BTC on the blockchain but never ever ever be able to access it until and unless you type in the EXACT correct passphrase. So if you die, you better have that correct phrase somewhere so your loved ones can get your coins.
10. 100% optional. You do not have to use it if you do not trust that you will be able to always recall it or that your loved one will be able to come up with it if you die or are incapacitated.