Quote from: mocacinno on July 17, 2019, 07:59:11 AM

Seems like you got a little confused there... I'll leave the technical aspects behind and try to explain it as simple as i can Wink

There's some oversimplifacation, but the basic idear behind the rest of this post is correct.

When you initialised your ledger, you were shown a seed phrase.
This seed phrase is used to create an xprv (a master private key)
From this xprv, your ledger can derive other private keys.
Each private key can be used to calculate a public key, the hash of the public key is your address (valid for P2PKH)

Each private key can be used to sign transactions spending unspent outputs funding one address. If one address is funded with multiple unspent outputs, the same private key will be used when you spend those unspent outputs.
So, in fact, each address has a unique private key (or, more correct, each private key results in 1 single address).

If you spend 3 unspent outputs funding 3 addresses controlled by the same HW wallet, 3 private keys derived from the same xprv will be used to sign the final transaction.

So if there are three private keys controlled by my xprv. And when I spend all my unspent outputs (all my BTC on HW wallet) in one transaction, it actually using three private keys for signing? So it's actually three transactions?