Are There Bitcoin Accounts?

Your wallet (which is a collection of Bitcoin addresses) acts somewhat like an “account” but there is no actual “account” in the database. For most users all it is enough to know the wallet acts as the account “manager” and maintains the “balance.”

When transactions are made there are “Inputs” and “Outputs.” If you have […]

How Do I Create a New Wallet if I Think it May be Compromised?

If you think it is possible that your wallet is compromised it is best to create a new wallet and transfer the bitcoins there. This means if it is possible that someone obtained your wallet file or encrypted wallet password. The old wallet should be saved in case bitcoins somehow get sent to an old […]

What does “Cannot ask for private key without user interaction disabled” mean?

When using the app the message “Cannot ask for private key without user interaction disabled” came up when sending bitcoins.

Before doing anything make sure you have backup the private keys from the web site.

The problem is caused by trying to send from a “watch-only” address (which is an address that cannot […]

Anatomy of a Bitcoin Wallet


A Bitcoin wallet is actually a collection of Bitcoin addresses. A Bitcoin address is essentially an account number. Each Bitcoin address has an associated “private key.” The Bitcoin address can be used to receive bitcoins or see the balance. The private key is needed to spend the bitcoins. see the video about the Bitcoin […]

Installing Bitcoin-QT Wallet Software

Bitcoin-QT is the software associated with the main Bitcoin project (other wallet programs are provided by private entities). This software does more than just being wallet. The Bitcoin blockchain is shared between other Bitcoin users via peer-to-peer software. The software also verifies transactions going through the Bitcoin network. If someone send invalid transactions or tries […]

How Do I Get Started With Bitcoin Software?

To be able to send and receive bitcoins you will need a “wallet.” A wallet is a collection of Bitcoin addresses that are essentially your account numbers. With Bitcoin you can use a different account number for every transaction and the account numbers are grouped into a wallet. The way Bitcoin works (behind the scenes) […]