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Author Topic: How come nobody generates an existing Private key  (Read 493 times)
yona
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March 21, 2013, 06:20:54 PM
 #1

So, maybe I am a missing something here but how come nobody generates an existing Private key [by chance/mistake] and gets access to an existing wallet?
i know it's a one in a zillion chance [or even less] but even so,
 does it not make it a little less safe?
and the more people use bitcoins and more wallets and keys they use, does this chance not grow?
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totaleclipseofthebank
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March 21, 2013, 06:22:51 PM
 #2

https://en.bitcoin.it/wiki/Weaknesses#Generating_tons_of_addresses

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yona
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March 21, 2013, 06:33:27 PM
 #3

thanks for the quick reply totaleclipseofthebank
so can i gather a collision between keys [addresses] is possible but not probable?
DannyHamilton
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March 21, 2013, 06:40:30 PM
 #4

thanks for the quick reply totaleclipseofthebank
so can i gather a collision between keys [addresses] is possible but not probable?

This depends on what you mean by "possible".  The human mind seems to have a difficult time understanding just how "big" really big numbers are.

Would you say it is "possible but not probable" that you will "be struck by lightning while taking a crap every year for 17 years in a row"?

yona
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March 21, 2013, 08:31:26 PM
 #5

here is a post dealing with the question:
https://bitcointalk.org/index.php?topic=104461.0
guess this has been discussed.
possible but extremely not probable...
 Smiley
guess i will sleep better now.
DannyHamilton
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March 21, 2013, 08:51:17 PM
 #6

here is a post dealing with the question:
https://bitcointalk.org/index.php?topic=104461.0

That would be a link to the exact same discussion I linked to already?

guess this has been discussed.

Yes. Many times in the past four years.

blub
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March 21, 2013, 09:09:21 PM
 #7

99.99%

DannyHamilton
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March 21, 2013, 09:11:53 PM
 #8

But what is the probability that it will be discussed again?

1 - x

Where x is the odds of a collision while generating truly random private keys.

Peter Lambert
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March 21, 2013, 09:12:46 PM
 #9

But what is the probability that it will be discussed again?

1 - x

Where x is the odds of a collision while generating truly random private keys.

Beautiful response.

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