There is indeed a chance you get the same address as somebody else. A change greater than zero.
You know at first I had determined that if that was the case, I wouldn't bank on it, because out of my Ignorance I thought anything greater than zero is a huge possibility enough. Thanks to you for the clarification. 
Topic: Bitcoin clarification needed, please (Read 133 times)
Yes, this is possible, but the probability of occurrence is less than that of Mars hitting the Earth.
The private key length is a 256-bit binary string. The probability that two private keys are exactly repeated is 1 of 2^256≈10^77.
In contrast
1. The probability of 1 million prizes in the lottery is one in a million. (10^6)
2. The average death rate for global traffic accidents is one in four million.（4*10^6）
3. Experts analyzed that asteroids larger than 6 km in diameter will collide with the Earth every few hundred million years. (10^8)
Assuming that 100 million (10^8) private keys have been used, the probability of randomizing one of them is 10^69.
It is equivalent to 11 consecutive million prizes, or 10 consecutive deaths by traffic accidents，or 8 consecutive asteroid hit on the Earth.
So it is almost equal to impossible.
The private key length is a 256-bit binary string. The probability that two private keys are exactly repeated is 1 of 2^256≈10^77.
In contrast
1. The probability of 1 million prizes in the lottery is one in a million. (10^6)
2. The average death rate for global traffic accidents is one in four million.（4*10^6）
3. Experts analyzed that asteroids larger than 6 km in diameter will collide with the Earth every few hundred million years. (10^8)
Assuming that 100 million (10^8) private keys have been used, the probability of randomizing one of them is 10^69.
It is equivalent to 11 consecutive million prizes, or 10 consecutive deaths by traffic accidents，or 8 consecutive asteroid hit on the Earth.
So it is almost equal to impossible.
There is indeed a chance you get the same address as somebody else. A chance greater than zero.
But in order to understand how small that chance is, you should look at the next image. Although it was made to show how difficult would be to brute force a Bitcoin address, it also tells nicely that there are so many addresses to choose from that our sun's whole energy is not enough only to count them.
Edit: typo
But in order to understand how small that chance is, you should look at the next image. Although it was made to show how difficult would be to brute force a Bitcoin address, it also tells nicely that there are so many addresses to choose from that our sun's whole energy is not enough only to count them.
Edit: typo
There is a chance that it could happen since the address generation is random but very very unlikely. It's known as collision. In the event that i happens. Both the colliding owner and original owner can spend the BTCs sent to the wallet but the colliding owner won't be able to spend the entire amount of BTCs in the address and the same would apply if the original owner tried to spend
You can look up for more information here to see how scenario just seems almost impossible.
https://en.bitcoin.it/wiki/Technical_background_of_version_1_Bitcoin_addresses
You can look up for more information here to see how scenario just seems almost impossible.
https://en.bitcoin.it/wiki/Technical_background_of_version_1_Bitcoin_addresses
Hi there,
I'm relatively a newbie in bitcoin and entire crypto technology, Although I have read about a lot of things on how it works and its security, but so far, the more I learnt has brought about even bigger questions to which I seek answers to.
My Question(s) goes thus: is there any chance of someone generating a bitcoin address that has been generated or belong to someone ? A dumb question as it would seem, but my reason for asking is that, having read that bitcoin addresses are generated in respect to a specific private key and for the fact that an address could be generated offline, also that there is no central database that would be crosschecked by the address generator to know if the address is already generated by someone.
So, even if it is very unlikely is there an iota of chance that it could happen, I mean a greater than zero chance ? If No, please enlightening me on why and how.
I'm relatively a newbie in bitcoin and entire crypto technology, Although I have read about a lot of things on how it works and its security, but so far, the more I learnt has brought about even bigger questions to which I seek answers to.
My Question(s) goes thus: is there any chance of someone generating a bitcoin address that has been generated or belong to someone ? A dumb question as it would seem, but my reason for asking is that, having read that bitcoin addresses are generated in respect to a specific private key and for the fact that an address could be generated offline, also that there is no central database that would be crosschecked by the address generator to know if the address is already generated by someone.
So, even if it is very unlikely is there an iota of chance that it could happen, I mean a greater than zero chance ? If No, please enlightening me on why and how.
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