Bitcoin Forum
December 05, 2016, 04:47:14 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: A few questions about addresses  (Read 1149 times)
nimda
Hero Member
*****
Offline Offline

Activity: 784


0xFB0D8D1534241423


View Profile
June 02, 2012, 02:39:11 PM
 #1

1. Given the current nature of addresses, how many total addresses are possible?
2. How many addresses currently have bitcoins?
3. How many addresses with BTC will it take for it to become profitable to generate addresses at random and check their balance, then send all of its coins to another address?

For #3, assume that the addresses are being generated as fast as possible, i.e. without any regard for security. The private key might as well start at a random seed, then simply be incremented. With these provisions, I think 20 MKeys/s is a possibility.

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
1480956434
Hero Member
*
Offline Offline

Posts: 1480956434

View Profile Personal Message (Offline)

Ignore
1480956434
Reply with quote  #2

1480956434
Report to moderator
1480956434
Hero Member
*
Offline Offline

Posts: 1480956434

View Profile Personal Message (Offline)

Ignore
1480956434
Reply with quote  #2

1480956434
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480956434
Hero Member
*
Offline Offline

Posts: 1480956434

View Profile Personal Message (Offline)

Ignore
1480956434
Reply with quote  #2

1480956434
Report to moderator
1480956434
Hero Member
*
Offline Offline

Posts: 1480956434

View Profile Personal Message (Offline)

Ignore
1480956434
Reply with quote  #2

1480956434
Report to moderator
Pieter Wuille
Legendary
*
Offline Offline

Activity: 1036


View Profile WWW
June 02, 2012, 02:42:15 PM
 #2

1) There are 2^160 = 1461501637330902918203684832716283019655932542976 valid normal addresses.

2) In januari, there had about 3 million addresses been used, with 123000 holding a >1BTC balance.

3) never

aka sipa, core dev team

Tips and donations: 1KwDYMJMS4xq3ZEWYfdBRwYG2fHwhZsipa
Boussac
Legendary
*
Offline Offline

Activity: 1173


e-ducat.fr


View Profile WWW
June 02, 2012, 03:02:09 PM
 #3


3) never

Isn't that the short answer, the long answer being "it's far more profitable to mine than to try to hit a random funded address" ?

Pieter Wuille
Legendary
*
Offline Offline

Activity: 1036


View Profile WWW
June 02, 2012, 03:19:58 PM
 #4

The long answer:

Assume the entire current bitcoin hashing power switches to mining addresses. Assume it consists of all GPU's. Assume a GPU doing EC math can produce 1 address per 10 bitcoin hashes. This results in roughly 1 TAddr/s (tera address per second). This results in about 3*10^19 addresses per year.

Assume all bitcoins are mined and in circulation, and perfectly distributed and thus there are 21M addresses that each hold 1BTC. This is equivalent to saying that one in 7*10^40 addresses is interesting.

This means that each year of mining by the entire network would result in a chance of 1 in 2*10^21 for finding *at least* one interesting address. This means that after about 1.5*10^21 years (120000000000 times the age of the universe), there is a chance of around 50% of having hit one.

In other words: never.

aka sipa, core dev team

Tips and donations: 1KwDYMJMS4xq3ZEWYfdBRwYG2fHwhZsipa
nimda
Hero Member
*****
Offline Offline

Activity: 784


0xFB0D8D1534241423


View Profile
June 02, 2012, 03:40:44 PM
 #5

Great answer, thanks!

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
Vod
Legendary
*
Offline Offline

Activity: 1848


Licking my boob since 1970


View Profile WWW
June 02, 2012, 10:59:26 PM
 #6

Awesome answer!

I'm into creating universes, smiting people, writing holy books and listening to prayers.
If you want your prayers answered, you must donate to 1CDyx8AUTiYXS1ThcBU3vy4SJWQq6pdFMH
Boussac
Legendary
*
Offline Offline

Activity: 1173


e-ducat.fr


View Profile WWW
June 03, 2012, 09:29:42 AM
 #7

Thanks sipa for this thorough answer.

Incidentally, I have read somewhere that there are approximately the same number of bitcoin addresses as there are atoms on earth.
Did anyone check that ?

Foxpup
Legendary
*
Offline Offline

Activity: 1694



View Profile
June 03, 2012, 10:44:20 AM
 #8

Thanks sipa for this thorough answer.

Incidentally, I have read somewhere that there are approximately the same number of bitcoin addresses as there are atoms on earth.
Did anyone check that ?

I guess it depends on your definition of "approximately". There are actually about 70 times as many atoms in the Earth as there are bitcoin addresses:

Number of bitcoin addresses (2^160): 1.462 quindecillion
Number of atoms in the Earth (according to Wolfram Alpha): 100 quindecillion

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
Boussac
Legendary
*
Offline Offline

Activity: 1173


e-ducat.fr


View Profile WWW
June 15, 2012, 12:54:33 PM
 #9

Thanks sipa for this thorough answer.

Incidentally, I have read somewhere that there are approximately the same number of bitcoin addresses as there are atoms on earth.
Did anyone check that ?

I guess it depends on your definition of "approximately". There are actually about 70 times as many atoms in the Earth as there are bitcoin addresses:

Thanks: that's close enough  Grin

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!