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Author Topic: Creating new addresses (public keys)  (Read 517 times)
J4mie
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December 02, 2015, 03:49:21 PM
 #1

Hello,

I'm new to bitcoin, Bitcoin Core advises me to generate a new public key for each incoming transaction. Why is that recommended?

Edit: is it because in this way, people can't see ALL your bitcoins?
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Reply with quote  #2

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pedrog
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December 02, 2015, 05:08:57 PM
 #2

Hello,

I'm new to bitcoin, Bitcoin Core advises me to generate a new public key for each incoming transaction. Why is that recommended?

Edit: is it because in this way, people can't see ALL your bitcoins?

Yes, it's to better protect you privacy, you don't need to do it, the majority of people doesn't do it, but it's a good practice.

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December 02, 2015, 05:16:59 PM
 #3

Hello,

I'm new to bitcoin, Bitcoin Core advises me to generate a new public key for each incoming transaction. Why is that recommended?

Edit: is it because in this way, people can't see ALL your bitcoins?

Yes it's basically for that reason , using different addresses for each transaction will make it difficult for me to know your identity by just the addresses , however if you use the same address over and over in different websites and accounts etc ... people will end up finding you . It's basically for people who actually care about their private life ... those who don't , don't really use that .

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December 02, 2015, 08:16:59 PM
 #4

Thanks!
onlinedragon
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December 02, 2015, 08:26:22 PM
 #5

All the scammers in the world love to get your Bitcoin for free. Be aware who you gonna trust it's sometimes hard to see who you can trust and who you can't.

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cr1776
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December 02, 2015, 09:27:21 PM
 #6

1. Anonymity - of you and everyone you transact with is improved.
2. It wasn't mentioned above, but re-use can impact security - one you "spend from" an address you have "released" your "public key" into the wild (prior to that only the Base58 encoded RIPEMD hash of it (the "address") was publicly known ).  If ECDSA is broken (or the implementation is fragile) your coins are secure if you haven't reused addresses. 
3. Related to #2, without reuse bitcoin is more quantum computer resistant so your coins are better protected.

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