[KAR][BOUNTY] Why this BTC address 3KARPE1ESwHERE1SoUrMoNEYxxxx8dXeC5 is valid ?

[aintkarpeles]

KarpelesCoin has programmed a Fund Rehabilitation for MtGox and crytporush affected.

All the history started at this weird but valid  BTC address starting with '3' https://blockchain.info/address/3KARPE1ESwHERE1SoUrMoNEYxxxx8dXeC5

Bounty of 20 KARs for the fittest explanation

[pedrog]

It's  a multi-signature address.

[aintkarpeles]

 it is not necessary so. Indeed, it is not possible to know if it has got 1 or more private key.

[pedrog]

Multi-signature addresses

Addresses can be created that require a combination of multiple private keys. Since these take advantage of newer features, they begin with the newer prefix of 3 instead of the older 1. These can be thought of as the equivalent of writing a check to two parties - "pay to the order of somebody AND somebody else" - where both parties must endorse the check in order to receive the funds.

The actual requirement (number of private keys needed, their corresponding public keys, etc.) that must be satisfied to spend the funds is decided in advance by the person generating this type of address, and once an address is created, the requirement cannot be changed without generating a new address.

https://en.bitcoin.it/wiki/Address#Multi-signature_addresses

[CoinHoarder]

It would take years and years and years to generate '3KARPE1ESwHERE1SoUrMoNEYxxxx8dXeC5'. Therefore it is likely no one owns the private keys to that address. Any super long vanity address like that.. people ask "wow how can they generated such a long vanity address". The short answer is that they can't, the private keys are unknown even to the creator of the address. As long as the address starts with a 1 or a 3 and has a valid hash at the end of the first part of the address, it is considered "valid" by the client.

[aintkarpeles]

Multi-signature addresses

Addresses can be created that require a combination of multiple private keys. Since these take advantage of newer features, they begin with the newer prefix of 3 instead of the older 1. These can be thought of as the equivalent of writing a check to two parties - "pay to the order of somebody AND somebody else" - where both parties must endorse the check in order to receive the funds.

The actual requirement (number of private keys needed, their corresponding public keys, etc.) that must be satisfied to spend the funds is decided in advance by the person generating this type of address, and once an address is created, the requirement cannot be changed without generating a new address.

https://en.bitcoin.it/wiki/Address#Multi-signature_addresses

multisig addres are starting with '3' by convention ; the reverse case is not true for any address, it is not true that all '3' starting address be multisig. As an example  3KARPE1ESwHERE1SoUrMoNEYxxxx8dXeC5 is not multisig, otherwise you give me the keys as proof  

BTW, it is a related topic, not so bad anwser at all.

[aintkarpeles]

It would take years and years and years to generate '3KARPE1ESwHERE1SoUrMoNEYxxxx8dXeC5'. Therefore it is likely no one owns the private keys to that address. Any super long vanity address like that.. people ask "wow how can they generated such a long vanity address". The short answer is that they can't, the private keys are unknown even to the creator of the address. As long as the address starts with a 1 or a 3 and has a valid hash at the end of the first part of the address, it is considered "valid" by the client.

Very close, but you must be more precise. All you are saying, all is true and well explained, but there is an subtile difference (not beeing multisig/not multisig as explained) between addresses starting with '1' and starting with '3'.

Yes, it is a RIPEMD valid, but why? ....  Best answer until now, anyway .

[tacotime]

The prefix is the version number and is 1 byte.

m/n: testnet pubkeyhash
1: mainnet pubkeyhash for pay-to-pubkeyhash outputs
3: mainnet pay-to-script-hash (P2SH); multisig-to-spend outputs are a standard P2SH tx type

https://en.bitcoin.it/wiki/List_of_address_prefixes

[aintkarpeles]

The prefix is the version number and is 1 byte.

m/n: testnet pubkeyhash
1: mainnet pubkeyhash for pay-to-pubkeyhash outputs
3: mainnet pay-to-script-hash (P2SH); multisig-to-spend outputs are a standard P2SH tx type

https://en.bitcoin.it/wiki/List_of_address_prefixes

Yes!, it is becouse the script prefix, 05 and not 00. This is the reason for starting with '3'. If it is mulsig it depends how it has been formed. 3KARPE1ESwHERE1SoUrMoNEYxxxx8dXeC5  decisively is not multisig

Well, the bounty is yours!!! ( or not  ...)

[aintkarpeles]

ok, the winner, or if he rennounce, the next and so, please send me a valid starting with 1 or 3 , single or multi sig,  BTC or KAR address for seding 20 KARs

[tacotime]

17bmYcP6Vio6c1gnyPsaDSv4B11SLe81Ab

[aintkarpeles]

17bmYcP6Vio6c1gnyPsaDSv4B11SLe81Ab

Paid 20 KARs!

And thanks to all of us for participating in so much didactic topic.

... and take a look to KarpelesCoin meanwhile (