ok, so having the same adress means actually the same private key.
No, to be precise it is not the case.
Topic: same public key - page 2. (Read 3168 times)
No, to be precise it is not the case.
You can't double money in bitcoin.
Yes you can, happened back in march
ok, so having the same adress means actually the same private key.
That makes sense.
Thank you!
That makes sense.
Thank you!
In other words if Alice has a wallet that contains the address xyz and Bob has a wallet that contains the same address xyz
both have the same private key?
(And thus all individual addresses of Alice and Bob can be signed with their own or the other one's private key?)
both have the same private key?
(And thus all individual addresses of Alice and Bob can be signed with their own or the other one's private key?)
a) what happens if the same address (public key) gets created
b) what happens if the same private key gets created
b) what happens if the same private key gets created
The pub is derived from the priv, so if you had the pub you would also have the priv.
Or did I get something wrong here?
Yes, you did.
The results of generating the same address or the same private key are exactly the same. In either case you can spend any bitcoins that exist in an unspent output that requires a signature from a valid private key.
Even though it is highly improbable I think there are actually two questions to this:
a) what happens if the same address (public key) gets created
b) what happens if the same private key gets created
a)
As far as I know a certain address usually holds only parts of your wallets Bitcoins (worst case scenario all),
so if the same address gets created but the private keys are different only the amount assigned to that address can be spent by both people (because their different private keys are locked with the same address).
b)
If the private keys are identical all the funds of each wallet could be spent by each user.
(What happens if both have different amounts of BTC in their wallets - what would show on the client)
Or did I get something wrong here?
a) what happens if the same address (public key) gets created
b) what happens if the same private key gets created
a)
As far as I know a certain address usually holds only parts of your wallets Bitcoins (worst case scenario all),
so if the same address gets created but the private keys are different only the amount assigned to that address can be spent by both people (because their different private keys are locked with the same address).
b)
If the private keys are identical all the funds of each wallet could be spent by each user.
(What happens if both have different amounts of BTC in their wallets - what would show on the client)
Or did I get something wrong here?
Exactly it is that simple. The Bitcoin network has no concept of "ownership" only authentication. If one can sign a transaction with a valid private key they can spend the coins. If someone generates an address which produces the same public key as your address then they can spend your coins.
And what would happen with money that is transferred to an address that exists twice? would this money be doubled?
No. If you make a backup of your wallet the address exists twice but it doesn't double your money.
Imagine you had a safety deposit box which only had one key and you put $500 into it. Thus only you can spend the $500, and to do so requires the key.
Now imagine the bank screwed up and gave a second copy of your key to someone else by mistake. Same deposit box, same $500 inside it but now two keys which open the box. Has the money been doubled? Can it be spent twice? Of course not it simply means whoever use the box first can spend it and once spent the funds are gone.
Bitcoin works the same way. Your client/wallet doesn't have any coins. It has a set of keys which allow it to transfer ownership of coins in the blockchain. Instead of one safety deposit box "your coins" are distributed across tens of thousands of nodes all over the planet. When you spend coins you send a message to the network saying "hey those coins at address 1xyz... please transfer control of them to 1abc... I have signed this message with the private key for 1xyz so you know it is a valid request". The bitcoin network includes the transaction in the next block and the global consensus on where coins are located has been updated. All nodes now agree the coins are not at 1xyz... they are at 1abc... .
fact is/\people don't trust computers in general and without some kind of physical backup=\/fail..thanks
Exactly it is that simple. The Bitcoin network has no concept of "ownership" only authentication. If one can sign a transaction with a valid private key they can spend the coins. If someone generates an address which produces the same public key as your address then they can spend your coins.
And what would happen with money that is transferred to an address that exists twice? would this money be doubled?
Why would it get doubled? It is the same address, only more than one person has access to it. It is like sharing your wallet with your brother or whomever.
If I have a wallet with 1 BTC and I share it with my brother I still have 1BTC. No doubling there. Only now my brother can spend it and when he does, I cannot.
EDIT:
prolly misunderstand doubling?
easy just print out two or IC3/\physical bitcoins with the same addy and we are all\/good ..thanks
Thanks guys, now I think I understand this topic
Exactly it is that simple. The Bitcoin network has no concept of "ownership" only authentication. If one can sign a transaction with a valid private key they can spend the coins. If someone generates an address which produces the same public key as your address then they can spend your coins.
And what would happen with money that is transferred to an address that exists twice? would this money be doubled?
No. If you make a backup of your wallet the address exists twice but it doesn't double your money.
Imagine you had a safety deposit box which only had one key and you put $500 into it. Thus only you can spend the $500, and to do so requires the key.
Now imagine the bank screwed up and gave a second copy of your key to someone else by mistake. Same deposit box, same $500 inside it but now two keys which open the box. Has the money been doubled? Can it be spent twice? Of course not it simply means whoever use the box first can spend it and once spent the funds are gone.
Bitcoin works the same way. Your client/wallet doesn't have any coins. It has a set of keys which allow it to transfer ownership of coins in the blockchain. Instead of one safety deposit box "your coins" are distributed across tens of thousands of nodes all over the planet. When you spend coins you send a message to the network saying "hey those coins at address 1xyz... please transfer control of them to 1abc... I have signed this message with the private key for 1xyz so you know it is a valid request". The bitcoin network includes the transaction in the next block and the global consensus on where coins are located has been updated. All nodes now agree the coins are not at 1xyz... they are at 1abc... .
Are you saying that if I share my wallet with my brother the money isn't doubled? Crap!
If I have a wallet with 1 BTC and I share it with my brother I still have 1BTC. No doubling there. Only now my brother can spend it and when he does, I cannot.
EDIT:
prolly misunderstand doubling?
IC. LOL
Are you saying that if I share my wallet with my brother the money isn't doubled? Crap!
If I have a wallet with 1 BTC and I share it with my brother I still have 1BTC. No doubling there. Only now my brother can spend it and when he does, I cannot.
EDIT:
prolly misunderstand doubling?
legendary
Activity: 1862
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Reverse engineer from time to time
You can't double money in bitcoin.
Exactly it is that simple. The Bitcoin network has no concept of "ownership" only authentication. If one can sign a transaction with a valid private key they can spend the coins. If someone generates an address which produces the same public key as your address then they can spend your coins.
And what would happen with money that is transferred to an address that exists twice? would this money be doubled?
Why would it get doubled? It is the same address, only more than one person has access to it. It is like sharing your wallet with your brother or whomever.
If I have a wallet with 1 BTC and I share it with my brother I still have 1BTC. No doubling there. Only now my brother can spend it and when he does, I cannot.
EDIT:
prolly misunderstand doubling?
Exactly it is that simple. The Bitcoin network has no concept of "ownership" only authentication. If one can sign a transaction with a valid private key they can spend the coins. If someone generates an address which produces the same public key as your address then they can spend your coins.
And what would happen with money that is transferred to an address that exists twice? would this money be doubled?
Why would it get doubled? It is the same address, only more than one person has access to it. It is like sharing your wallet with your brother or whomever.
Exactly it is that simple. The Bitcoin network has no concept of "ownership" only authentication. If one can sign a transaction with a valid private key they can spend the coins. If someone generates an address which produces the same public key as your address then they can spend your coins.
And what would happen with money that is transferred to an address that exists twice? would this money be doubled?
Why would it get doubled? It is the same address, only more than one person has access to it. It is like sharing your wallet with your brother or whomever.
Exactly it is that simple. The Bitcoin network has no concept of "ownership" only authentication. If one can sign a transaction with a valid private key they can spend the coins. If someone generates an address which produces the same public key as your address then they can spend your coins.
And what would happen with money that is transferred to an address that exists twice? would this money be doubled?
imo it's going to get/\hairy if the geek foundation itself throws a monkey\/wrench reboot type command..thanks
Exactly it is that simple. The Bitcoin network has no concept of "ownership" only authentication. If one can sign a transaction with a valid private key they can spend the coins. If someone generates an address which produces the same public key as your address then they can spend your coins.
And what would happen with money that is transferred to an address that exists twice? would this money be doubled?
Exactly it is that simple. The Bitcoin network has no concept of "ownership" only authentication. If one can sign a transaction with a valid private key they can spend the coins. If someone generates an address which produces the same public key as your address then they can spend your coins.
yes we will see how beta testing the lightning generator(key sniffer)works out in the shark think tank..lol
http://tesladownunder.com/Tesla18Week2FullBright3000_small.jpg
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