I am using a Mac and downloaded Bitcoin-Qt as my wallet, and it has "synchronised". However, I am unable to use this program to generate a new address. I click on "new address", and all it makes me do is enter an address and name it…
Is it safe to use a website like Instawallet to "create" an address for me, and then use this address to receive coins with Bitcoin-Qt?
If two different people are using the same Bitcoin address, in a client like Bitcoin-QT, and if both receive money to the very same address, how will the network know who "owns" the bit coins associated to that address?
What is this "Private Key"? Is there a private key for every Bitcoin address? Where do I find it?
Lastly, if I want to sell my bitcoins, how does the "Private Key" play into all of this?