Bitcoin Well Explains: Public and Private Keys When you buy Bitcoin, what do you actually own? Most people think it works like a digital file — a little coin sitting on their phone or USB drive. That mental model is completely wrong. And as long as you're holding onto it, you don't really understand what you own. In this video we strip away the jargon and explain exactly how Bitcoin ownership works — starting with one stubborn misconception about wallets. Here's what we cover: Why your wallet holds zero Bitcoin The mailbox mental model that actually works Public keys, private keys, and Bitcoin addresses explained Why your private key is the most important piece of information in Bitcoin Why leaving Bitcoin on an exchange means you don't own it How digital signatures let you spend without exposing your secret Why a private key is mathematically impossible to crack What's coming in Part 2: seed phrases This is Part 1 of a four-part series on Wallets, Keys, and Seeds. Bitcoin #BitcoinWallet #SelfCustody #NotYourKeysNotYourCoins #bitcoineducation Chapters: 0:00 Intro — Iran War Spaces Recap, Bitcoin Price, Fountain App 2:33 Today's Topic: Wallets, Keys, and Seeds 3:49 The Wrong Mental Model About Wallets 5:01 What Your Wallet Actually Holds 5:44 The Mailbox Analogy — Bitcoin Addresses and Public Keys 7:15 Your Private Key: The Most Important Thing in Bitcoin 8:53 Not Your Keys, Not Your Coins — What It Really Means 9:59 Can Someone Just Guess Your Private Key? 11:32 Digital Signatures: Spend Without Exposing the Secret 12:11 Recap and Foundation of Bitcoin Ownership 12:57 Coming Next: Seed Phrases RESOURCES & LINKS: 🚀 Buy Bitcoin/Freedom: https://bitcoinwell.com 📧 Join the Mission (Newsletter): https://bitcoinwell.com/newsletter 📊 Take the Bitcoin Survey: https://bitcoinwell.com/survey 📈 Investor Relations: https://bitcoinwell.com/investors CONNECT WITH US: 🕊️ X (Twitter): https://twitter.com/thebitcoinwell 📸 Instagram: https://instagram.com/thebitcoinwell ⚡ Nostr: npub19mf4jm44umnup4he4cdqrjk3us966qhdnc3zrlpjx93y4x95e3uq9qkfu2 (https://bitcoinwell.com/nostr)