Topic: n00b question: if you create an address offline... (Read 832 times)
Thanks for the clarification with this everyone!
Yeah just to clarify what has been said, you don't "create" addresses. All the addresses that will ever exist have already been created. When you generate an address/key pair, you're simply choosing one of these existing addresses at random. This is why you can generate addresses while not connected to the internet.
You cannot send coins to an address does not exist. For example you cannot send coins to an address that doesn't start with 1. The client will tell you this after you attempt to send the coins.
If you send coins the first step is usualy verifiy that the address is a valid bitcoin address. If it's valid then the online computer will send the coins off to that address, whether it's been used before or not. It doesn't have to be on the network for it to be a valid address. There are 2^256 address, and we haven't even made speckle of those addresses yet. Those coins will sit at that address. The address doesn't have to be electronic, it can be paper, steel, whatever. The coins are on the address (which is thus in the network), not the device or object that holds the coins.
Hope that clears it up.
If you send coins the first step is usualy verifiy that the address is a valid bitcoin address. If it's valid then the online computer will send the coins off to that address, whether it's been used before or not. It doesn't have to be on the network for it to be a valid address. There are 2^256 address, and we haven't even made speckle of those addresses yet. Those coins will sit at that address. The address doesn't have to be electronic, it can be paper, steel, whatever. The coins are on the address (which is thus in the network), not the device or object that holds the coins.
Hope that clears it up.
That's what I meant. As long as the address has a valid format, the coins will be sent, even if that address has no corresponding private key stored anywhere.
You cannot send coins to an address does not exist. For example you cannot send coins to an address that doesn't start with 1. The client will tell you this after you attempt to send the coins.
If you send coins the first step is usualy verifiy that the address is a valid bitcoin address. If it's valid then the online computer will send the coins off to that address, whether it's been used before or not. It doesn't have to be on the network for it to be a valid address. There are 2^256 address, and we haven't even made speckle of those addresses yet. Those coins will sit at that address. The address doesn't have to be electronic, it can be paper, steel, whatever. The coins are on the address (which is thus in the network), not the device or object that holds the coins.
Hope that clears it up.
If you send coins the first step is usualy verifiy that the address is a valid bitcoin address. If it's valid then the online computer will send the coins off to that address, whether it's been used before or not. It doesn't have to be on the network for it to be a valid address. There are 2^256 address, and we haven't even made speckle of those addresses yet. Those coins will sit at that address. The address doesn't have to be electronic, it can be paper, steel, whatever. The coins are on the address (which is thus in the network), not the device or object that holds the coins.
Hope that clears it up.
Blockchain.INFO does not know about your address, but as soon as you send a deposit, it sees you sent X bitcoins to address X. Bitcoin has a public ledger, everyone can see to an extent where bitcoins go.
Ahh alright, that makes perfect sense. So essentially, if you're using a cold storage method of a paper wallet and generate the address and private key offline and print it, you should be all set?
Yup
Thats how everyone should be doing.
We're having many great projects ahead such as Trezor that would help removing fiction for having a cold storage.
Blockchain.INFO does not know about your address, but as soon as you send a deposit, it sees you sent X bitcoins to address X. Bitcoin has a public ledger, everyone can see to an extent where bitcoins go.
Ahh alright, that makes perfect sense. So essentially, if you're using a cold storage method of a paper wallet and generate the address and private key offline and print it, you should be all set?
Yea.
I believe you can send coins to an address that doesn't exist, and they will be registered in the ledger, but they will also be unspendable by anyone since nobody has the private key behind that address
Blockchain.INFO does not know about your address, but as soon as you send a deposit, it sees you sent X bitcoins to address X. Bitcoin has a public ledger, everyone can see to an extent where bitcoins go.
Ahh alright, that makes perfect sense. So essentially, if you're using a cold storage method of a paper wallet and generate the address and private key offline and print it, you should be all set?
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Blockchain.INFO does not know about your address, but as soon as you send a deposit, it sees you sent X bitcoins to address X. Bitcoin has a public ledger, everyone can see to an extent where bitcoins go.
...how does the blockchain know that the address exists? I created a paper wallet offline with a brand new address, sent a test deposit, and it's there. Just wondering how this works if the address was never transmitted to the internet from my computer.
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