Wait, if my 24 word seed can bring back my coins, doesn't that mean my private keys are held somewhere?
That's why it's called a seed and not a passphrase. Your keys come from the seed and your seed can clone them if they are lost.
How does it know how to clone it?
What if I make 4 other accounts on my trezor.
I don't know what you mean by account. The Trezor doesn't contain accounts. It contains a wallet filled with addresses. The website has your account. The Trezor can only load one wallet at a time
If you lose your Trezor you will want to clone the wallet from the seed so you at least get your bitcoins back. You have to do that yourself.
There's is a "account" moniker in the key derivation scheme.
All accounts are derived from the seed.
Interesting choice of monikers. Very bank. Cannotes third party security. Most clients use the term wallet. Why did you choose account?
Other coins, for instance, Monero, are also using the term "account" instead of "wallet", for various practical reasons.
It's unfortunate that they called it account, because it connotes with bank account.... but, a bank account is really a bank deposit account. Account really means some numbers that you track, and deposit means that you have given your money away. So it is not
really bad to call it an account (as in BIP-0032). It is a way to arrange your numbers.
Gives us a splendid pretext to argue what an account really is, and what a deposit really is.
