Topic: Security of Bitcoin Address (Read 268 times)

What are the chances of anyone accidentally creating the same Bitcoin address? Is it remotely possible or there is some kind of checks before network, software, God or something would do a check first before approving the Bitcoin address. Again, I'm just thinking out loud. Hmmm...🤔

This question is just like you asking your parents to give birth to somebody just exactly like you in resemblance, character, attitude and every aspect of you and do you think you will be of the same age too?
This question you have asked is rhetorical. If that should happen then what is the possibility that your funds would be safe because the probability of having same wallet keys is narrow if it is feasible. So OP,  I do not think you will really get a clearer picture of what you want neither will you get a direct answer for this question you have just asked. Just as LoyceV has said, you can start that way and wait for your answer.

Here is a good parable.

Possibility increases drastically when there is divine intervention.

What are the chances of anyone accidentally creating the same Bitcoin address? Is it remotely possible or there is some kind of checks before network, software, God or something would do a check first before approving the Bitcoin address. Again, I'm just thinking out loud. Hmmm...🤔

In theory, that's possible. In practice, that's impossible.
Take note that there are 2¹⁶⁰ valid bitcoin addresses (There are even more addresses if consider all types of bitcoin addresses).


No.
Note that your bitcoin address in generated through some mathematical calculations from a random number and you don't need internet connection for that.

What does it match to?
Let’s try to evaluate the size of such a figure through an analogy. Imagine that you have a computer capable of generating 400,000 Bitcoin addresses per second, which already requires significant computing power.

Start the computer, and go for a walk. For example, complete the Tour of France (6397 km), walking at a normal pace of 4 km/h. Once you have finished your walk, say hello to a random person, and start your walk again. Once you have said hello to 66 million inhabitants, and completed the Tour de France each time, visit one of the 36,000 French municipalities.

Now repeat your tours of France, your greetings to each inhabitant, and when you have finished visiting all of the French municipalities, you will probably have generated a Bitcoin address collision with your computer.

The computer in question would then need 10 million billion of hard drives to store such a large amount of data. Unfortunately, here is the bad news: there is no guarantee that the address on which you generated a collision contains bitcoins: at present, only 10 million addresses have been used on the network.

The probability of generating a collision on an address containing bitcoins is therefore much lower, and it is highly likely that the Earth would have disappeared well before you finish your tours of France.

Conclusion: Don’t worry
All this is simply to say that one should not worry about the possibility that an address collision is generated by two different wallets. The creator of the Bitcoin network has devised a particularly well-adapted system, which, through decentralization, ensures that everyone has the opportunity to use the network without having to register the addresses of their wallets with anyone, and this without fear that two people will ever use the same address.

In my place, when someone registers a SIM-Card and after using it for some times (months or years) they get rid of it either by mistake or intentionally, the network provider gives a duration of about 8 months or a year, if the SIM-Card is in-active for the duration of 8 months, it became recycled and sold to another customer.

My question here is, the way Bitcoin wallets are programed and being generated, is it also certain that old unused Bitcoin addresses (that was generated by someone but was not used or probably lost his phrase) can never be recycled by the system to be used again?

My question here is, the way Bitcoin wallets are programed and being generated, is it also certain that old unused Bitcoin addresses (that was generated by someone but was not used or probably lost his phrase) can never be recycled by the system to be used again?

My question here is, the way Bitcoin wallets are programed and being generated, is it also certain that old unused Bitcoin addresses (that was generated by someone but was not used or probably lost his phrase) can never be recycled by the system to be used again?

In theory, that's possible. In practice, that's impossible.
Take note that there are 2¹⁶⁰ valid bitcoin addresses (There are even more addresses if consider all types of bitcoin addresses).

It's not possible because you as a user can not create a Bitcoin address without going through verification and confirmation of the validity of the address before authentication, so don't be so gullible not to notice the error message of the address if not valid or valid to an already existing wallet.

which produces a private key just like your bank pin for transactions.

you as a user can not create a Bitcoin address without going through verification and confirmation of the validity of the address before authentication, so don't be so gullible not to notice the error message of the address if not valid or valid to an already existing wallet.

Let's look at this from the aspect of a normal bank account, after you create a bank account, you are given a unique account number, that only links to your bank account. And until your account becomes dominant this number remains yours and yours only.

I really don't think it's possible for two persons to have the same wallet or Bitcoin address.

What are the chances of anyone accidentally creating the same Bitcoin address? Is it remotely possible or there is some kind of checks before network, software, God or something would do a check first before approving the Bitcoin address. Again, I'm just thinking out loud. Hmmm...🤔

Here is a good parable.

Possibility increases drastically when there is divine intervention.

There's an answer in old thread, my suggestion if you have a question, it's better to use google search by type "bitcointalk.org: your question", but if you don't find any answer then you can create new thread.

AFAIK I haven't see anyone create a thread when they create a new wallet, the wallet have been funded (which mean someone have been use this existing wallet).

What are the chances of anyone accidentally creating the same Bitcoin address?

That can happen only if you use a malicious tool. There have been cases that people got a used pre-generated address from a malicious paper wallet generator.