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it looks solid and im pretty sure the future will be bright for tomochainAll news related to BSV today, still no proof that Craig Wright is NOT Satoshi. Great publicity
how deluded are you? you keep defending this scam coin, like you are totally brainwashed by this cult.
I feel pity for you.
Fantastic explanations, thank you so much!
Best Answer
It is a published list of 2048 English words... when the device is first initialised, it generates a very large random number known as the "seed", from which all your private keys are generated... This very large number is VERY important, and needs to be able to be backed up and restored, to prevent you from losing your funds should your device get lost/damaged/stolen etc.
Rather than have users attempt to write down this very large number as a backup (which would be incredibly easy to get wrong, one missed/incorrect numeral would invalidate it!), a system was devised to represent the very large number by a sequence of words, which are generally a lot easier for humans to write down, store and re-enter without mistakes than a very very VERY long sequence of numbers. So, the seed is broken down into smaller "chunks" (24 chunks in the case of the Ledger)... and each chunk is then represented by a word from the list.
As each "chunk" is actually 11 bits long, and 11 bits can be used to represent 2048 numbers in the range from 0-2047... hence the reason why the list has 2048 words.
When you restore your device... and enter your 24 words... each word is converted back into the 11 bit number "chunk"... all the chunks are then concatenated back together... and the device once again has your very large number (aka seed)!
That is a very over simplified explanation of BIP39 seed mnemonics... you can read more here: https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki
Best Answer
ok but my question is: does every ledger have the same 'set' or words? but just in a different order?
Lets say my words are:
1) Carrots
2) Apple
3) Banana
etc...
If I buy a new Ledger and I try to restore, will I have the same set of words to choose from to 'rebuild' my 24 recovery phrase?
Lets say my words are:
1) Carrots
2) Apple
3) Banana
etc...
If I buy a new Ledger and I try to restore, will I have the same set of words to choose from to 'rebuild' my 24 recovery phrase?
yeah i did that already, but if i lose my Ledger, and buy a new one. How can I enter the same words on the new device? will they propose me the same list of words to choose from? that's the part i dont undertsand.
Yes... Ledger utilises the BIP39 wordlist... specifically, the English one.It is a published list of 2048 English words... when the device is first initialised, it generates a very large random number known as the "seed", from which all your private keys are generated... This very large number is VERY important, and needs to be able to be backed up and restored, to prevent you from losing your funds should your device get lost/damaged/stolen etc.
Rather than have users attempt to write down this very large number as a backup (which would be incredibly easy to get wrong, one missed/incorrect numeral would invalidate it!), a system was devised to represent the very large number by a sequence of words, which are generally a lot easier for humans to write down, store and re-enter without mistakes than a very very VERY long sequence of numbers. So, the seed is broken down into smaller "chunks" (24 chunks in the case of the Ledger)... and each chunk is then represented by a word from the list.
As each "chunk" is actually 11 bits long, and 11 bits can be used to represent 2048 numbers in the range from 0-2047... hence the reason why the list has 2048 words.
When you restore your device... and enter your 24 words... each word is converted back into the 11 bit number "chunk"... all the chunks are then concatenated back together... and the device once again has your very large number (aka seed)!
That is a very over simplified explanation of BIP39 seed mnemonics... you can read more here: https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki
yeah i did that already, but if i lose my Ledger, and buy a new one. How can I enter the same words on the new device? will they propose me the same list of words to choose from? that's the part i dont undertsand.
You will select Restore configuration, choose the words you written down in their right order and it will generate the same wallet you were using in your old lost device.https://support.ledger.com/hc/en-us/articles/360005434914-Restore-from-recovery-phrase
Or a guide with images: https://medium.com/@trionkidnapper/ledger-nano-s-restoring-a-device-using-recovery-phrase-d80051ecf17a
ok thanks for the links, really helpful
Whats a backup seed? sorry im a newbie 
Exactly what you said above. Your list of words (P.S: order matters; you need to write the exact words in the exact order).yeah i did that already, but if i lose my Ledger, and buy a new one. How can I enter the same words on the new device? will they propose me the same list of words to choose from? that's the part i dont undertsand.
Either buy a new Nano S and restore your wallet with the backup seed or just restore it directly into a wallet (e.g Electrum).
You can get the same wallet (with all your addresses and coins) just with it.
You can get the same wallet (with all your addresses and coins) just with it.
Whats a backup seed? sorry im a newbie
Hi,
just got a Ledger Nano S, and I have a newbie question (im a newbie):
So i write down my 24 words and my pin. what happen if I lose my ledger? Someone told me that i can buy a new one and just restore it using my pin and 24 words.
ok but my question is: does every ledger have the same 'set' or words? but just in a different order?
Lets say my words are:
1) Carrots
2) Apple
3) Banana
etc...
If I buy a new Ledger and I try to restore, will I have the same set of words to choose from to 'rebuild' my 24 recovery phrase?
Thanks in advance!
just got a Ledger Nano S, and I have a newbie question (im a newbie):
So i write down my 24 words and my pin. what happen if I lose my ledger? Someone told me that i can buy a new one and just restore it using my pin and 24 words.
ok but my question is: does every ledger have the same 'set' or words? but just in a different order?
Lets say my words are:
1) Carrots
2) Apple
3) Banana
etc...
If I buy a new Ledger and I try to restore, will I have the same set of words to choose from to 'rebuild' my 24 recovery phrase?
Thanks in advance!
Litecoins Litepay payment system will become available in 41 countries on Monday, February 26. This is BIG guys! Make sure you have Litecoin in your long term hold portfolio!
zero effect at all, in fact the price is dropping Litepay is crap for users, it's only good for merchants
Re: ★★DigiByte|极特币★★[DGB]✔ DigiSync v6.14.2 - DigiSpeed - Segwit -DiguSign
On the official site of CitiT4IChallenge Digibyte is on the 12th page with status "Finalist".
https://techforintegritychallenge.com/community#content
But companies on first 9 pages has status "Award Recipient!"
Is it means Digibyte is not win?
https://techforintegritychallenge.com/community#content
But companies on first 9 pages has status "Award Recipient!"
Is it means Digibyte is not win?
looks like it
Those look like the demo day award recipients. They wouldn't publish the winners before announcing them. If you filter for the Citi 4 Integrity Challenge, all of the "award recipients" are the ones from the demo days.
prepare for the final drop, DGB not wining any prize, it'S official now.
Re: | NEO Smart Economy | Official Thread |⚡Updated: Interview With DA Hongfei⚡
the new wallet is more shitty than the last one. impossible to use, not user friendly, i dont even know how to send coins in that wallet. Why is it so difficult to create a simple wallet like every other altcoins?
i have no choice to leave my NEO coins on bittrex until to come up with something better than this.
You downloaded the neon wallet? i have no choice to leave my NEO coins on bittrex until to come up with something better than this.
Ive downloaded neo-gui 2.0
is that the right thing?
Re: | NEO Smart Economy | Official Thread |⚡Updated: Interview With DA Hongfei⚡
the new wallet is more shitty than the last one. impossible to use, not user friendly, i dont even know how to send coins in that wallet. Why is it so difficult to create a simple wallet like every other altcoins?
i have no choice to leave my NEO coins on bittrex until to come up with something better than this.
i have no choice to leave my NEO coins on bittrex until to come up with something better than this.
Re: [ANN][UBQ] Ubiq - Smart Contracts For An Automated World
I love UBIQ but the wallet is not friendly at all, I cant understand how it works and how to receive coins and the UI is horrible and a pain in the ass to navigate. So fuck that, I'll just leave my coin on Bittrex, even if it'S less safe. Hopefully they will release a better wallet in the future.