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Bitcoin Qu0026A: What is a Private Key?

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What is a private key? How are they generated and formatted? Are private keys transmitted when you make a transaction? What are the chances of collision? Will quantum computing making it easy to guess private keys? Does implementing quantumproof algorithms require an overhaul of the code?

Learn more from the following chapters of 'Mastering Bitcoin':
https://github.com/bitcoinbook/bitcoi...
https://github.com/bitcoinbook/bitcoi...
Key to address code: https://github.com/bitcoinbook/bitcoi...

Chapters
0:00 How is the private key calculated using the elliptic curve mathematical computation? If transactions are public, why can't someone launch a bruteforce attack and guess the private key, knowing the fact that we have quantum computers now?
5:15 Do all private keys start with the number 5?
5:52 How do you ensure the private key is transmitted securely and privately into the blockchain?
6:42 Please explain key collision. Also, please give an example of encryption collision. Is it possible to generate a private key that is already being used?
10:30 If transactions are public, why can't someone launch a bruteforce attack and guess the private key, knowing the fact that we have quantum computers available now?
12:39 Quantum attacks on Bitcoin and how to protect against them.

These questions are from the MOOC 9.3 and 9.4 sessions, as well as the (rescheduled) April Patreon Q&A session, which took place on March 2nd, March 9th, and May 5th 2018 respectively. Andreas is a teaching fellow with the University of Nicosia. The first course in their Master of Science in Digital Currency degree, DFIN511: Introduction to Digital Currencies, is offered for free as an open enrollment MOOC course to anyone interested in learning about the fundamental principles. If you want earlyaccess to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron:   / aantonop  

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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most wellknown and respected figures in bitcoin.

Follow on Twitter: @aantonop   / aantonop  
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/InternetMon...

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/InternetMoney...

MASTERING BITCOIN: https://www.amazon.co.uk/MasteringBi...

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/MasteringBitc...

Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations...

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Music: "Unbounded" by Orfan (  / orfan  )
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
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