Hey guys, xCacheMoney here with a question.
So blockchain.info allows for infinite addresses to be created to receive and send bitcoin right?
And bitcoin addresses are very complicated no?
There's also hundreds of stories of misplacing a number or letter in the address someone's sending bitcoin to.
So why isn't there people creating, spamming that 'Create New' button on the site, and creating nigh-infinite amounts of addresses in the hope that someone wrongly misplaces their bitcoin there?
Just a question, I know that is probably due to the fact that they must have some limit, you don't want to waste your time creating all those accounts, or it's tantamount to scamming.
Just a thought
xCM.
There is no limit... Anybody can create as much private keys as they want. They can use blockchain.info, altough i don't like web based wallets. They can also use bitcoin core, armory, multibit, multibit HD, electrum,...
The thing is: it would be impossible to create the private keys for even 0.001% of all the addresses... We just don't have, and never will have enough computer power and storage to store all these private keys. And i'm not talking about "pushing the button on blockchain.info", i literally mean that you can not own enough powerfull servers generating private keys 24/7 to generate even a tiny fraction of keys that could exist.
you can read more about this on this discussion:
https://bitcointalk.org/index.php?topic=24268.0One thing i think you're a bit confused about: holding bitcoin is basically holding a private key. If two people hold the same private key (it doesn't matter if they have the private key stored on a paper wallet, on a hardware wallet, in blockchain.info's database, in a wallet.dat file, in electrum,...), each of the two people can sign transactions, thus spend the coins that are controlled by this (shared) private key.
Blockchain.info doesn't controll bitcoin, they're merely an online wallet, block explorer,... One of the many out there.