Private Key – Is the meme “BIP39 words contain all the Bitcoin in the world” true?

No, the meme “BIP39 words contain all the Bitcoin in the world” is not accurate. Bitcoin Improvement Proposal 39 (BIP39) is a standard for mnemonic phrases that are human-readable representations of cryptographic seeds used to create deterministic wallets. These phrases typically consist of 12 to 24 words chosen from a predefined list.

This meme seems to stem from a misunderstanding or misunderstanding of how BIP39 works. The mnemonic phrase created by BIP39 is a convenient way for users to back up and restore their cryptocurrency wallets. It does not contain actual Bitcoins or private keys themselves. Instead, it is used as a backup mechanism.

Ownership and control of Bitcoin is tied to a private key derived from a mnemonic phrase. But words alone cannot control Bitcoin. To access real funds, you must securely store and use the private key associated with the mnemonic phrase.

It is important to approach cryptocurrency-related memes with caution and verify information from trustworthy sources. Cryptocurrency security is an important aspect, and misinformation can lead to misunderstandings and potential risks.

I recommend reading about this on trusted websites such as Bitcoin Wiki in English or Guia do Investidor in Portuguese.