Cryptocurrency Q&A
Is knowing someone's private key equivalent to owning their Bitcoin?
Is knowing someone's private key equivalent to owning their Bitcoin?
BlockchainBaronGuard
Sun Dec 15 2024
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6 answers
848
I'm wondering if having access to someone's private key in the context of Bitcoin means that I essentially own their Bitcoin. Is possession of the private key tantamount to ownership of the associated Bitcoin?
6 answers
BitcoinBaroness
Tue Dec 17 2024
This is because private keys are the fundamental tool that grants authorization for transactions.
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Nicola
Tue Dec 17 2024
Without a private key, one cannot initiate or confirm a transaction in the blockchain.
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Maria
Tue Dec 17 2024
In essence, private keys act as digital signatures that verify the authenticity of the transaction.
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Silvia
Tue Dec 17 2024
Private keys serve as a crucial aspect in the realm of cryptocurrency.
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CryptoWizardry
Tue Dec 17 2024
Understanding a private key is akin to possessing ownership over crypto assets.
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