What is a cryptocurrency mnemonic phrase? How does it relate to a bitcoin or ethereum private key? Are they the same thing? Are seeds and mnemonics the same thing? Can someone guess my bitcoin private key or mnemonic? Watch this video to understand how mnemonic phrases work, why they're used in bitcoin, why they're considered secure. Hint: turn on closed captions to help you remember what's being taught. Chapters 0:00 If a bitcoin private key is such a big number and you can never guess it, how does relate to mnemonic phrases? 1:03 Let's discuss what a mnemonic phrase actually is. 1:23 Cryptographic keys are just numbers. A bitcoin private key is just a number. 1:42 What is a mnemonic phrase? 2:10 Bitcoin Improvement Proposal or BIP39 is the standard for seed phrases 3:03 There are 2048 words in the BIP39 dictionary 4:00 How do you make a number out of words? 6:09 Example of how to take a number like a bitcoin private key and encode it in 24 words 8:06 Derivation function that allows you to take the mnemonic and generate the same sequence of keys 8:27 Summary of why a mnemonic phrase is as secure as a bitcoin private key written in decimal or binary This video help explains how mnemonic phrases or mnemonic seeds as they're often called, relate to cryptocurrency private keys. It discusses the bitcoin improvement proposal BIP39 and its implementation. If you want to understand how your cryptocurrency wallet works, this video is for you. This video was made as a followup to the "Can Someone Guess My Bitcoin Private Key" video here: https://youtu.be/2eZ5DP2P5As You may want to watch that video first to really understand what's being explained. Learn more about bitcoin, ethereum, and other cryptocurrency private keys in these videos: Passwords and authentication: https://youtu.be/m8jlnZuV1i4 Bitcoin and crypto security: https://youtu.be/P7IuPA26GGc Learn why bitcoin, ethereum, and other open blockchain technologies are different in my talk The Fairness Protocol: https://youtu.be/JtyRN4YFRFI Community Builders who support this free work on Patreon get to ask questions and vote on questions at least a week before the event. YouTube Community Members who support this work get to ask questions and vote an hour before the event starts. Everyone else gets to ask questions and vote on questions when the event starts. Giving early access is a small way Andreas can give something to the people who help to financially support the mission and still include anyone who wants to participate. SUBSCRIBE to this YouTube channel and select the bell ? for notifications: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ?sub_confirmation=1 JOIN this YouTube channel to become a YouTube Community Member and access custom emojis and other perks: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ/join BECOME a Community Builder: https://patreon.com/aantonop You may already know that Andreas’ mission is to educate as many people as possible about Bitcoin and open blockchain technologies. Watching and sharing these videos is one way to do that. Thank you for being part of this mission! About aantonop: Andreas isn't promoting a company or an organization; he's paid by the community (people who support this work on Patreon and YouTube) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved (if you decide you want to). Learn more at https://aantonop.com ***Learn More From Andreas’ Workshops, Books & Events** Amazon & Kindle: http://www.amazon.com/-/e/B00MVAG8Z8 Audible: https://www.audible.com/author/Andreas-M-Antonopoulos/B00MVAG8Z8 E-books & Merch: https://aantonop.io/shop Patreon: https://patreon.com/aantonop Website: https://aantonop.com Workshops: https://aantonop.com/workshops ***Connect with Andreas on Socials*** Facebook: https://www.facebook.com/AndreasMAntonopoulos Instagram: https://www.instagram.com/amantonop/ LinkedIn: https://www.linkedin.com/company/aantonop/ Twitter: https://twitter.com/aantonop Thanks for watching!