Topic: Accidentally created a wallet address that someone else already has? - page 4. (Read 4257 times)
May 20, 2014, 01:44:36 PM
It could happen. But it's unlikely. Not unlikely like being in a plane crash. But unlikely like being in a plane crash 1 million times in a row.
May 20, 2014, 01:42:39 PM
I heard there are more Bitcoin addresses possible than there are atoms in the universe. If that is true, no one on earth will EVER duplicate an address.
The universe is much bigger than can be understood from an episode of Cosmos.
The universe is much bigger than can be understood from an episode of Cosmos.
May 20, 2014, 01:42:19 PM
If bitcoinaddress.org can make a bitcoin address and private key offline, theoretically, someone else might've already made an identical wallet elsewhere because you did not register on the blockchain since it was created offline.
Theoretically? You mean n the same way that, theoretically, all the air in the room could spontaneously collect in one corner leaving a vacuum in the rest of the room and causing everyone to suffocate and die?
Therefore, if you receive funds, the other guy could spend it or if you spend funds, you're spending someone else's money.
This is not a concern.
Is it not a worry because the mathematical probability is so infinitesimally small
Correct.
The probability that you will generate an address that already has bitcoins in it is significantly less than 1 in 7x1032.
due to there being so many characters in a bitcoin public address and private key?
More specifically, due to the bitcoin address being computed from a 160 bit hash.
But just to be safe, you should send a small amount of money to yourself
This does not make you any safer.
to make sure it works right and is not shared with anybody else
How will sending some bitcoins to yourself help you determine if it is shared with anybody else?
May 20, 2014, 01:36:30 PM
Doesnt sound very likely. I wouldnt worry about it.
May 20, 2014, 01:32:46 PM
you did not register on the blockchain
No, it doesn't works like that.
There's no registration inside the blockchain. Only Transaction FROM A TO B where A and B are public address. And only A and B (if the have the Private Key) can spend coins.
May 20, 2014, 01:29:31 PM
Is it not a worry because the mathematical probability is so infinitesimally small
You answered your own question with the proper RNG you should be just fine.
May 20, 2014, 01:28:00 PM
Hi,
Dumb question. If bitcoinaddress.org can make a bitcoin address and private key offline, theoretically, someone else might've already made an identical wallet elsewhere because you did not register on the blockchain since it was created offline. Therefore, if you receive funds, the other guy could spend it or if you spend funds, you're spending someone else's money.
Is it not a worry because the mathematical probability is so infinitesimally small due to there being so many characters in a bitcoin public address and private key? But just to be safe, you should send a small amount of money to yourself to make sure it works right and is not shared with anybody else before you tell people to pay you at your new address?
Thanks for the answer,
Dumb question. If bitcoinaddress.org can make a bitcoin address and private key offline, theoretically, someone else might've already made an identical wallet elsewhere because you did not register on the blockchain since it was created offline. Therefore, if you receive funds, the other guy could spend it or if you spend funds, you're spending someone else's money.
Is it not a worry because the mathematical probability is so infinitesimally small due to there being so many characters in a bitcoin public address and private key? But just to be safe, you should send a small amount of money to yourself to make sure it works right and is not shared with anybody else before you tell people to pay you at your new address?
Thanks for the answer,
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