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rfisher1968 (OP)
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May 29, 2013, 05:20:19 PM
 #1
How does bitcoin-qt know that a private key is not already in use?
DannyHamilton
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May 29, 2013, 05:52:32 PM
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Quote from: rfisher1968 on May 29, 2013, 05:20:19 PM
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.
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May 29, 2013, 06:01:45 PM
 #3
Answer when there are 2^160 possibilities (the total number of bitcoin addresses)
https://bitcointalk.org/index.php?topic=207808.msg2179046#msg2179046
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
Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
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May 29, 2013, 06:08:40 PM
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https://en.bitcoin.it/wiki/Weaknesses

It is called collision.I had this concern popped in my mind some days ago.
Not anymore.
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