Adam Meister the Bitcoin Meister talks about BCash, BTrash, altcoins, Trezor hardware wallet, 24 words, 21 million, 2014, 2020, Mining Costs, investments, ease of use, custody, ETF, bull market, 1 million Bitcoin. Also see http://disruptmeister.com
Learn more about the 24 seed words: https://youtu.be/wWCIQFNf_8g
Equipment: The wide shot is my Sony a6500 with the Sony Zeiss 24mm set at f2.8 and the tight shot on Adam was my Sony A7sII with the G Master 85mm also at f2.8 - audio was recorded with my Sound Devices MixPRE 6 with two Sennheiser MKE-2 lav mics.
From JayCee Botha: The 24 words thing is not Trezor specific, it’s just an easy way to write down words that each has a value and via an algorithm by using them in the correct order derive at your bitcoin address. The Trezor device itself, randomly creates these words only when the user sets it up and is not created at factory time. For this reason the code on the Trezor is open source so there are no pre set keys or anything like that. The words (private key) are stored on the device and is only used ever to sign a message and send the signed message out. No software can from the outside go into the device to read it. Software and websites only ever receive the signed message and signed instruction creates by the Trezor. It’s very easy to validate if the signature is true with calculations but one cannot determine the private key from the signature itself. Almost like looking at a Rubick’s cube you can within 5 seconds say if it’s solved or not, yet you have no idea how it got there, what steps where used etc. hope this helps
Oh and as for validating if your 24 words are correct or not in restoring..Trezor does not know. If you by accident switch two words around it’s algorithm will simply derive at another total different private key that are 100% valid and assume it’s yours and give you an empty wallet with a zero balance.