https://en.bitcoin.it/wiki/Weaknesses
It is called collision.I had this concern popped in my mind some days ago.
Not anymore.
Topic: bitcoin-qt, how it creates a private key? (Read 845 times)
Answer when there are 2^160 possibilities (the total number of bitcoin addresses)
https://bitcointalksearch.org/topic/m.2179046
Here you're asking for private keys (a tiny bit less than 2^256 different ones), so you're basically multiplying what is in this thread by 79228162514264337593543950335
And anyway, it can be in use. In that case, jackpot
https://bitcointalksearch.org/topic/m.2179046
Here you're asking for private keys (a tiny bit less than 2^256 different ones), so you're basically multiplying what is in this thread by 79228162514264337593543950335
And anyway, it can be in use. In that case, jackpot
How does bitcoin-qt know that a private key is not already in use?
It chooses a random number from a pool of numbers that's so large that it's reasonably safe to assume that nobody else is using that number.
How does bitcoin-qt know that a private key is not already in use?
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