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Author Topic: Will we ever run out of bitcoin addresses?  (Read 2420 times)
norulezapply
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August 20, 2011, 12:22:46 PM
 #1

After writing this I'm guessing we'll never run out of addresses any time soon (as in within the next 1000 years)

base 36 ^ 34 characters per address = 8.2089011515213367907186323883068e+52 possible address combinations right?

But is it possible to generate a new address and receive an addres that is already occupied by someone?
Say, if I generate an address, and someone else does the same and gets the same address as me by chance, then isn't there a major issue with the system there? Since if I deposit some bitcoins they'll show in both mine and his wallet?

Any thoughts on this?

If my post helped, I'll happily accept a few bitmills!   15rGg6A1JFZV3b7TTbtpAaiYGdUD1e1oAm
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JoelKatz
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August 20, 2011, 12:28:46 PM
 #2

It is billions of times more likely that some astronomical event will obliterate the Earth and destroy your bitcoins.

I am an employee of Ripple.
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
norulezapply
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August 20, 2011, 12:30:27 PM
 #3

It is billions of times more likely that some astronomical event will obliterate the Earth and destroy your bitcoins.
Hah that is actually true..
So it could actually happen then?

If my post helped, I'll happily accept a few bitmills!   15rGg6A1JFZV3b7TTbtpAaiYGdUD1e1oAm
JoelKatz
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Democracy is vulnerable to a 51% attack.


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August 20, 2011, 12:31:12 PM
 #4

Yeah, so buy asteroid insurance.

In most cryptosystems, there are a finite number of keys and it is always possible that someone might guess your key by pure luck. The solution is always to ensure that the number of possible keys is high enough that this need not be worried about. AES-128 is considered good enough for government work, and it "only" has 10^40 possible keys. 10^48 is more than enough.

I am an employee of Ripple.
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
jackjack
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May Bitcoin be touched by his Noodly Appendage


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August 20, 2011, 12:34:27 PM
 #5

After writing this I'm guessing we'll never run out of addresses any time soon (as in within the next 1000 years)

base 36 ^ 34 characters per address = 8.2089011515213367907186323883068e+52 possible address combinations right?

But is it possible to generate a new address and receive an addres that is already occupied by someone?
Say, if I generate an address, and someone else does the same and gets the same address as me by chance, then isn't there a major issue with the system there? Since if I deposit some bitcoins they'll show in both mine and his wallet?

Any thoughts on this?
Base36?
Addresses are base 58 encoded 9e59 addresses

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
norulezapply
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August 20, 2011, 12:37:26 PM
 #6

After writing this I'm guessing we'll never run out of addresses any time soon (as in within the next 1000 years)

base 36 ^ 34 characters per address = 8.2089011515213367907186323883068e+52 possible address combinations right?

But is it possible to generate a new address and receive an addres that is already occupied by someone?
Say, if I generate an address, and someone else does the same and gets the same address as me by chance, then isn't there a major issue with the system there? Since if I deposit some bitcoins they'll show in both mine and his wallet?

Any thoughts on this?
Base36?
Addresses are base 58 encoded: 9e59 addresses
Actually now that I think about it isn't it base 62?

If my post helped, I'll happily accept a few bitmills!   15rGg6A1JFZV3b7TTbtpAaiYGdUD1e1oAm
jackjack
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August 20, 2011, 12:40:33 PM
 #7

After writing this I'm guessing we'll never run out of addresses any time soon (as in within the next 1000 years)

base 36 ^ 34 characters per address = 8.2089011515213367907186323883068e+52 possible address combinations right?

But is it possible to generate a new address and receive an addres that is already occupied by someone?
Say, if I generate an address, and someone else does the same and gets the same address as me by chance, then isn't there a major issue with the system there? Since if I deposit some bitcoins they'll show in both mine and his wallet?

Any thoughts on this?
Base36?
Addresses are base 58 encoded: 9e59 addresses
Actually now that I think about it isn't it base 62?
Nope, no 1/I/O/0

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
Artefact2
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August 20, 2011, 02:17:54 PM
 #8

"There are 1,786,752 different addresses in the block chain. That's less than 0.000000000000000000000000000000000000001 % of all the addresses that can be generated."

But I used 2^160 ~= 1.46e48 as the total number of addresses (Because addresses are stored as hash160s internally, and I assume every hash160 is a valid address ; if I'm wrong then correct me!).

A pool-biased blockchain representation, by me: pident (WTFPL)
jackjack
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August 20, 2011, 02:54:51 PM
 #9

"There are 1,786,752 different addresses in the block chain. That's less than 0.000000000000000000000000000000000000001 % of all the addresses that can be generated."

But I used 2^160 ~= 1.46e48 as the total number of addresses (Because addresses are stored as hash160s internally, and I assume every hash160 is a valid address ; if I'm wrong then correct me!).
Yep, you are of course right


Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
kokjo
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You are WRONG!


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August 20, 2011, 02:58:36 PM
 #10

yes. BUT first in about 10-30 times the age of the universe.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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