Private and Public keys questions

[xcsler]

1) Does every public key have a unique private key?
    Is the relationship of public to private keys 1:1 or many:1?
    If it is 1:1 then every time a transaction is made a new private key is generated and I have to back up my wallet.dat file!?


2) I plan on buying bitcoins on MtGox and sending them to ONE specific public address on my local wallet on multiple occasions.
    I assume that I can always send those coins to the same public address which in turn would be associated with one private key. Is this
    correct or does each transaction require a different public address?

3) Is there a maximum number of bitcoins that can be transacted at any one time?

Thanks in advance for everyone's help with these likely redundant questions.

[Ei Cot]

For help with the first question, you should review the Wikipedia article on public-key cryptography.  The relationship between private and public keys is 1:1.

You should keep a backup of your wallet that is kept up to date as you make transactions.

[nimda]

    If it is 1:1 then every time a transaction is made a new private key is generated and I have to back up my wallet.dat file!?

Your wallet.dat file has 100 keys. Back it up every 100 transactions.

2) I plan on buying bitcoins on MtGox and sending them to ONE specific public address on my local wallet on multiple occasions.
    I assume that I can always send those coins to the same public address which in turn would be associated with one private key. Is this
    correct or does each transaction require a different public address?

For privacy, it's recommended that you don't re-use addresses. That doesn't mean you can't re-use them, though. You can use the same address as much as you want.

3) Is there a maximum number of bitcoins that can be transacted at any one time?

No, but there is a maximum number of bitcoins that can ever exist: 21 Million.

[xcsler]

For help with the first question, you should review the Wikipedia article on public-key cryptography.  The relationship between private and public keys is 1:1.

You should keep a backup of your wallet that is kept up to date as you make transactions.

Thanks, that was a helpful link. I understood that there was a public-private relationship but never explicitly read that it was a 1:1 relationship.

[SSSSer]

i also thank for the link above. this is best explain i find of all places!