Crypto wallet is just a private key - long sequence of random byles. Key word - private. That means nobody except you know that private key byte sequence. To operate your wallet you have to know private key. If your wallet is "operated" by whatever third party, it is not your wallet anymore.
That simple. Crypto wallet is not much different from normal wallet. If you give your normal wallet to somebody to "operate", it is not your normal wallet anymore.
And, meanwhile, what's the point of giving out your money for "operating" by someone else? What prevents you to "operate" your own money in the same way by yourself? Why banks or corporations are needed to "operate" your money?
IDK what crypto you talking about, but actual BTC wallet file have only private and public keys (BTC addresses) and software settings.
Knowing only private key you could rebuild your wallet from scratch.
Distributed database AKA blockchain store only transactions, not accounts. Obviously, there will be transactions to your address and from your address. Transactions to your address should be signed by private key of senders. Transactions from your address should be signed by your private key. Blockchain is designed so, that each new block of transactions contains signatures of previous one and is signed with private keys of miner who win this round. So it is practically impossible to somehow change any transaction stored in blockchain, including those to your address and from your address, because they signed by thousands of people who don't even know that address is yours.
In BTC transactions are public. You don't need a private key to access them. Funny, but you don't need your private key even to receive transaction to any address of your wallet. You need private key only to spend. You also don't need to have blockchain and even have access to blockchain to operate your wallet. Others, who will forward your request to blockchain will check if your request for spending is valid and address you use really have sum you want to spent just by adding all transactions to and from this address. You could recieve and spend without touching blockchain at all. Blockchain is for those in network who will forward and sign your transaction.
Basically, blockchain is like a public bilboard where records like "0.1BTC sent from address JLDm343jLKJDmss to address KJFsnskdDKSD" exposed. If you a sane person, and care about privacy, then nobody know that "KJFsnskdDKSD" is one of your addresses. So unless you an idiot, then publicity of that records in no way harm your privacy.
You mistakingly allege that crypto blockchain is like bank database where records store accounts with amount. It is not. Only transactions are stored. Actually there is just no place in BTC where current sum of your account is stored.
Crypto is not like bank or whatever. If you are unable to imagine a system without accounts with sums on them, try to imagine that each time you spend, you personally print your own banknote of your own soveregn treasury, backed by transactions in blockchain specifically for receiver of your payment.
Crypto is not an asset, money or whatever you imagined to yourself. It is just a system for storing transactions, nothing more, nothing less.
Here is the glitch in the delusion you cling to about encryption -- the keys do not equate to the value. They equate to accessing stored value defined on a server. Your BTC address is not the storage of value. When you mine - the value is stored and must be distributed. Under your theory of isolation then you shd have a new wallet key every time you change the amount -- but that is not what happens. The wallet is a static DB owned by some one else. Your offline wallet can not exchange value peer to peer without internet connectivity eventually.
there is no server in BTC, and there is no any value storage at all.
Your BTC address is not the storage of value.
Nothing is a storage of the value in BTC.
BTC is a distributed storage of transactions between addresses , not some single-server storage of account values like you used to with banks.
There is no place in whole BTC system for storing value that is on your address. No such thing at all, so your
assumption is just senseless.
If one want to know how many coins is currently available on some address he have to calculate a sum of all transactions to that address and subtract sum of all transactions from that address. No way around. And everyone who spread and sign block with yourr transaction will do that to check if you have enough at your address to make transaction you issued valid.
Only way to change sum some address currently can operate without creating additional transaction to(from valid address that have incoming transactions) or from (impossible without your private key) it, is to rebuild (and so re-mine) the whole blockchain since block with transaction you want to change.
There is no computer power on whole Earth to replace one transaction in blockchain in a reasonable time. Also, since transaction have two addresses, you can't do that without affecting the other address and so all following transactions connected with that address too. So you will have to change transactions of that second address too and who knows how long chains of transactions connected with that second address. It is just impossible at current level of our computer tech. Also you will have to somehow convince all other participants of BTC network to abandon current blockchain and accept your modified version of blockchain. I don't see how that could be done.
The address is the storage of value as it is a promissory key to equate a value defined in storage. You can not claim a thing has no value by giving it credibility of value to access. Either the BTC address IS the note of value (which it is not) or the key is access to the address where the storage of value is represented. You can not exclude the system when you can see inside the wallet when you insert a key unassigned by you.
There is no "storage of value" in BTC. Address is an endpoint for transaction. Number of endpoints in transaction is 10000 for input adresses and 65535 for output addresses.
BTC address is not a note of value, nor a key for access to a value. It is endpoint. BTC address private key allow you to issue a network-accepted request for transaction where this address is used as input. Nobody (you included) need any access to your address for anything else, including creating transactions where your address is output.
There is nothing except transactions in Bitcoin. No value storages, no accounts as in banks, nothing like that. Even miner block reward is transaction.
This same sort of line of logic where there is not a compilation so as to equate value is the same dogma that thinks encryption thru ISP is untouchable. There is a trail. There is a db of transactions. There are numerous companies that store your wallets, mining, etc -- hell one cunt mining company that stole my Doge ayh mined as an experiment bcz ayh did not collect it in time -- so how could they do this if the address was strictly mine? How do intelligence agencies recover crypto? The claims of no ledger is a lie. Data passes thru agencies you don't see -- the data is stored -- crypto is stored value -- made up value -- the address is a marker on a highway -- not the highway.
It's always the same - people who lack basic understanding of something are the most vocal in their opposition to it. It's something to do with Dunning-Kruger.
But Savannah wrote an online article about it so it must be true I guess. Savannah?Never take financial advice from strippers btw.
Crypto wallet is just a private key - long sequence of random byles. Key word - private. That means nobody except you know that private key byte sequence. To operate your wallet you have to know private key. If your wallet is "operated" by whatever third party, it is not your wallet anymore.
That simple. Crypto wallet is not much different from normal wallet. If you give your normal wallet to somebody to "operate", it is not your normal wallet anymore.
And, meanwhile, what's the point of giving out your money for "operating" by someone else? What prevents you to "operate" your own money in the same way by yourself? Why banks or corporations are needed to "operate" your money?
A crypto wallet is a db of data accessible thru an assigned key.
None of those words mean it is yours -- never was.
IDK what crypto you talking about, but actual BTC wallet file have only private and public keys (BTC addresses) and software settings.
Knowing only private key you could rebuild your wallet from scratch.
Distributed database AKA blockchain store only transactions, not accounts. Obviously, there will be transactions to your address and from your address. Transactions to your address should be signed by private key of senders. Transactions from your address should be signed by your private key. Blockchain is designed so, that each new block of transactions contains signatures of previous one and is signed with private keys of miner who win this round. So it is practically impossible to somehow change any transaction stored in blockchain, including those to your address and from your address, because they signed by thousands of people who don't even know that address is yours.
In BTC transactions are public. You don't need a private key to access them. Funny, but you don't need your private key even to receive transaction to any address of your wallet. You need private key only to spend. You also don't need to have blockchain and even have access to blockchain to operate your wallet. Others, who will forward your request to blockchain will check if your request for spending is valid and address you use really have sum you want to spent just by adding all transactions to and from this address. You could recieve and spend without touching blockchain at all. Blockchain is for those in network who will forward and sign your transaction.
Basically, blockchain is like a public bilboard where records like "0.1BTC sent from address JLDm343jLKJDmss to address KJFsnskdDKSD" exposed. If you a sane person, and care about privacy, then nobody know that "KJFsnskdDKSD" is one of your addresses. So unless you an idiot, then publicity of that records in no way harm your privacy.
You mistakingly allege that crypto blockchain is like bank database where records store accounts with amount. It is not. Only transactions are stored. Actually there is just no place in BTC where current sum of your account is stored.
Crypto is not like bank or whatever. If you are unable to imagine a system without accounts with sums on them, try to imagine that each time you spend, you personally print your own banknote of your own soveregn treasury, backed by transactions in blockchain specifically for receiver of your payment.
Crypto is not an asset, money or whatever you imagined to yourself. It is just a system for storing transactions, nothing more, nothing less.
Here is the glitch in the delusion you cling to about encryption -- the keys do not equate to the value. They equate to accessing stored value defined on a server. Your BTC address is not the storage of value. When you mine - the value is stored and must be distributed. Under your theory of isolation then you shd have a new wallet key every time you change the amount -- but that is not what happens. The wallet is a static DB owned by some one else. Your offline wallet can not exchange value peer to peer without internet connectivity eventually.
there is no server in BTC, and there is no any value storage at all.
Nothing is a storage of the value in BTC.
BTC is a distributed storage of transactions between addresses , not some single-server storage of account values like you used to with banks.
There is no place in whole BTC system for storing value that is on your address. No such thing at all, so your assumption is just senseless.
If one want to know how many coins is currently available on some address he have to calculate a sum of all transactions to that address and subtract sum of all transactions from that address. No way around. And everyone who spread and sign block with yourr transaction will do that to check if you have enough at your address to make transaction you issued valid.
Only way to change sum some address currently can operate without creating additional transaction to(from valid address that have incoming transactions) or from (impossible without your private key) it, is to rebuild (and so re-mine) the whole blockchain since block with transaction you want to change.
There is no computer power on whole Earth to replace one transaction in blockchain in a reasonable time. Also, since transaction have two addresses, you can't do that without affecting the other address and so all following transactions connected with that address too. So you will have to change transactions of that second address too and who knows how long chains of transactions connected with that second address. It is just impossible at current level of our computer tech. Also you will have to somehow convince all other participants of BTC network to abandon current blockchain and accept your modified version of blockchain. I don't see how that could be done.
The address is the storage of value as it is a promissory key to equate a value defined in storage. You can not claim a thing has no value by giving it credibility of value to access. Either the BTC address IS the note of value (which it is not) or the key is access to the address where the storage of value is represented. You can not exclude the system when you can see inside the wallet when you insert a key unassigned by you.
There is no "storage of value" in BTC. Address is an endpoint for transaction. Number of endpoints in transaction is 10000 for input adresses and 65535 for output addresses.
BTC address is not a note of value, nor a key for access to a value. It is endpoint. BTC address private key allow you to issue a network-accepted request for transaction where this address is used as input. Nobody (you included) need any access to your address for anything else, including creating transactions where your address is output.
There is nothing except transactions in Bitcoin. No value storages, no accounts as in banks, nothing like that. Even miner block reward is transaction.
This same sort of line of logic where there is not a compilation so as to equate value is the same dogma that thinks encryption thru ISP is untouchable. There is a trail. There is a db of transactions. There are numerous companies that store your wallets, mining, etc -- hell one cunt mining company that stole my Doge ayh mined as an experiment bcz ayh did not collect it in time -- so how could they do this if the address was strictly mine? How do intelligence agencies recover crypto? The claims of no ledger is a lie. Data passes thru agencies you don't see -- the data is stored -- crypto is stored value -- made up value -- the address is a marker on a highway -- not the highway.
It's always the same - people who lack basic understanding of something are the most vocal in their opposition to it. It's something to do with Dunning-Kruger.
But Savannah wrote an online article about it so it must be true I guess. Savannah?Never take financial advice from strippers btw.