If I understand it correctly, I could generate a valid Bitcoin address (key pair) following this algorithm.
With an address generated in such a way I would be able to receive Bitcoin without ever having to install a Bitcoin client. Is this correct?
How could I follow this algorithm with common (command-line) tools, i.e. those typically available on (even older) GNU/Linux systems? (they don’t have to be installed by default, but they should be part of the distributor’s package archive)
Would there be any risks/problems using such a key instead of one generated by a Bitcoin client?