Most humans have a very difficult time comprehending just how big some really big numbers are.
why would all the air in a room suddenly collect tightly in a corner?
For the same reason that two people will randomly generate the same address.
Generation of addresses is
random.
The motion of the air molecules in the room is
random.
There is a "possibility" that two people will just happen to randomly generate the same address.
There is a "possibility" that all the air molecules will just happen to move in the same direction to the corner of the room.
Imagine you are walmart.com or amazon.com ..etc and you get 500 transaction a second/or minutes or whatever, then someone with that very extremely low possibility generated your business address. Oh well... imagine your loss!
2
160 is a very Very VERY big number.
500 transactions per second is not a very Very VERY big number.
Also, Walmart or Amazon or whatever should be using a new address for every transaction. So even though they won't ever have the same address as anyone else, it wouldn't be a big problem if they did since that address will only have one transaction of bitcoins in it.
there is an extremely small chance that someone may generate the same address and all your saving will be gone!
You don't seem to understand how "extremely small" that chance is. There are things that are MUCH more likely to happen, that you don't every worry about and that are far more dangerous.
You might say a chance of a person having a birthday on a given day is 1 in 365, and therefore the chances of two people having the same birthday are (1/365)*(1/365)= 1/133225
But...
http://en.wikipedia.org/wiki/Birthday_problemSo, while your individual chances of generating the same address as anyone else is very very very very very low, you may hear of such a case in the bitcoin community eventually.
No you won't. Not if both addresses were generated using random numbers with sufficient entropy. 2
160 is a very Very VERY big number. 365 is not a very Very VERY big number.
Keep in mind that no matter how many addresses are ever created, there can never be more than 2,099,999,997,690,000 addresses in use at a time, and will almost always be much less than that.
Though, in multiple instances I have seen Danny is quite a knowledgeable person, but I dont understand why sometimes he argues like a kid!!!
Because that is the only way to present a demonstration of "extremely unlikely equals impossible" that anyone seems to understand.
Why on earth all the air in the room will spontaneously collect in one corner suffocating everyone in the room?
It wouldn't. And no two people generating random addresses with sufficient entropy are going to generate the same address either. They are both "mathematically possible", but in reality they are both impossible.
No, it really isn't. It is however so unlikely that we can say it is impossible (just like generating identical addresses from completely random sources with sufficient entropy).