A private key, also known as a secret key, is a cryptographic key that is used to decrypt or digitally sign data. It is a crucial component in asymmetric encryption algorithms like RSA and ECC ...

Losing a private key means losing access to Bitcoin permanently because there is no recovery system. For long-term storage, offline wallets like hardware devices or metal backups reduce risk exposure.

Forbes contributors publish independent expert analyses and insights. Korok Ray is a PhD economist/professor who researches/teaches Bitcoin. There's been a raging debate on Twitter/X this last week ...