If every particle in the known universe could create a billion addresses a second for the entire age of the universe, they would generate about one-quintillionth of the possible addresses.
Sorry JoelKatz. I know you mean to say "It's highly unlikely" (TM), but you're way overestimating the address space which is numerous orders of magnitude LESS than the number of atoms in the universe (what I think you mean by particle), so if every atom generated just ONE address, the vast majority of them would be expected to collide with others. In fact, unique values would be exceedingly rare.
Is it possible that some individual on the planet has a unique birthday?
The size of the 160 bit SHA-1 key space is in the same order of magnitude as the number of atoms in the Earth (~10^50)
This estimate is accurate to about one order of magnitude. If every atom of the Earth generated ONE address, then the chance of collision approaches 100% and only about half of all addresses would be expected to be unique.