Tim S.
  • Member for 8 years
  • Last seen more than 1 year ago
Can two private keys generate the same (public) Bitcoin address?
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20 votes

Yes, you can have two keys generate the same address. There are 2^160 possible addresses, and 2^256 possible private keys, so each address corresponds to roughly 2^(256-160)=2^96 private keys. Any of ...

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What does the mining difficulty number really mean?
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16 votes

(If I may repeat myself a bit...) Mining is like having a lot of people throwing weighted coins (such that 1 millionth of the time it comes up heads) and telling you when they hit a heads. If one such ...

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Solo mining just for luck, realistic?
14 votes

As long as you're in good communication with the network and have a hashrate measured in something better than minutes per hash, yes, you technically do have a chance of successfully mining a block, ...

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what programming languages are used to built bitcoin?
12 votes

The reference implementation, Bitcoin Core, is written primarily in C++, with various resource files and scripts in other languages. Another implementation, mainly used in lightweight clients like ...

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Should you protect your Bitcoin address like your credit card number?
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12 votes

A bitcoin address is not like a credit card number. You can safely give your bitcoin address out publicly. What the email is asking for is something you should never give out publicly: the mnemonic ...

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I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?
10 votes

Given that bitcoin has increased in value, one of us has to profit from this. If you hold the bitcoins while the value goes up, you are the one entitled to profit from it, because you also risk ...

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What does the US government do with seized coins?
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10 votes

The bitcoins will be sold, but they haven't said precisely how that will happen. Since there is no bitcoin exchange that is properly legally licensed in the US, they will likely auction them off ...

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Did I pay a fee to transfer from Coinbase to Blockchain?
9 votes

Coinbase covered the fee. I believe they do this in order to simplify things for their users (so that if it says you have x BTC, you can transfer x BTC, not (x minus transaction fees) BTC). Of course,...

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Want to write my own solo cpu bitcoin miner
8 votes

I'm not sure that a guide as basic as you describe is even possible. It depends on what exactly you mean. Mining itself isn't too complicated to read and understand, but writing a start-to-end app ...

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Where do these coins gain their value?
8 votes

This is really asking about basic trading economics: if I have some new product X, what price does it have? I can set a price and see if anyone buys it. If not, I might lower the price or auction it ...

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Why does bitcoin use public keys as pseudonyms?
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7 votes

More accurately, the pseudonyms most commonly used are addresses, which are derived from public keys (not the longer public keys themselves). In order for Bitcoin's idea to work, you must have coins ...

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How do you get a Bitcoin Public Key from a Private Key
6 votes

Here's a self-contained Python script that does the conversion. You can check its work by comparing to entering your private key as the "Secret Exponent" at Brainwallet. I took the script from this ...

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Genenerate address offline, but blockchain knows about my address
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6 votes

It only knows anything about the address because you asked about it. Since the address has never appeared in the blockchain, all it knows is what can be seen from the address: its hash160 value. This ...

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What is the relation between the bitcoin address and the corresponding private key?
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6 votes

A Bitcoin address is a hash of the public key. The Bitcoin wiki explains the exact (complicated) procedure in great detail. In brief, it involves hashing the public key and includes a checksum. The ...

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How is Coinbase any different than Mt Gox?
5 votes

You're right that in this regard, Coinbase and Mt.Gox are similar: they control the private keys, and incompetence or malice on their part could result in the loss of your coins. One difference is ...

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Compared to Slush's pool, how exactly does Eligius payout owed bitcoins to the miners?
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5 votes

How does Eligius pay miners directly from the newly generated coins? It simply generates the coinbase transaction to include payments directly to its miners, instead of only a transaction to itself. ...

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How to get the Input Address from vin where only a txid is given (Insight-Api)
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5 votes

First, use the API to get the information on the txid. /api/tx/e3f0e88ce224d342a0189c1b9d2fd488d8bda2f303dbe1e1dbbaa5f51d9f4a53 This result will include all of the details you're looking for. Here ...

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Is a bootstrap.dat virus possible?
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5 votes

No, it's not possible. With the exception of Script commands, nothing in the blockchain is executed by Bitcoin Core: it's just data. Scripts are only able to do things like hashing and arithmetic, so ...

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Is Bitcoin a fully decentralized network, or how do clients connect to the network?
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5 votes

The various approaches the core client takes are described in some detail on the Bitcoin wiki. Once you're connected to the network, your peers can tell you about more peers, so the big question is, ...

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What app should I use to import my wallet keys?
5 votes

Since I don't know what wallet app on Android you're using, I'll give an answer that should work for any: If you create an account at Coinbase, you can import your private keys and then send them to ...

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What was the first official BTC miner software?
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4 votes

The first official mining software was Bitcoin Core (then known simply as Bitcoin, later bitcoin-qt), and it still serves as a reference mining implementation, making it the "official" miner. See its ...

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What is the reason for using PoW in bitcoin?
4 votes

Why is it not designed in a way to use consensus algorithms what ripple uses? A consensus algorithm requires that you can trust contributing nodes. Otherwise, you're open to a Sybil attack, where an ...

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What cryptographic operations are performed on the 3 public keys to produce a multisig (2 of 3) address?
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4 votes

To better understand multisig addresses and transactions, it's useful to read BIP 0013 and create a multisig address using https://coinb.in/multisig/ If I want to create a multisig that requires ...

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Can I lower fees with stratagy
4 votes

Regardless of what accounts they are in in your wallet, consolidating/spending your dust may require substantial transaction fees - maybe even exceeding the value of the dust. The major factor that ...

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Why is it possible to have multiples addresses in an output of a transaction?
4 votes

Multisig transactions might have multiple addresses. For an example I found on webbtc's list of multisig transactions, see 055f9c6dc094cf21fa224e1eb4a54ee3cc44ae9daa8aa47f98df5c73c48997f9 (using ...

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HD / Deterministic Wallets and public key
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4 votes

Clients that use an HD wallet generate a fairly large number of the keys in advance (e.g. Armory does 100 by default). When it scans the blockchain for relevant transactions, it checks for ...

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How do we check the time when a transaction hits x confirmations?
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4 votes

The first confirmation was in block 298902, so the third confirmation was with block 298904, which is timestamped as 2014-05-03 09:42:49 (66 minutes after it was first received). However, this ...

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Mining with multiple older computers
4 votes

I wouldn't use them to mine. Since GPUs back then couldn't do arbitrary calculations, the only thing you can use are the CPUs. CPUs are relatively better at mining scrypt (e.g. Litecoin) than SHA256 (...

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To combine or not to combine
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4 votes

There are more variables at play than you have listed, so I can't answer with certainty. Calculator for estimated TX-Fees lists some of the considerations as to when a fee is required, and how much ...

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How to tell who mined a bitcoin?
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4 votes

If bitcoin algorithm was broken and some one started spitting out blocks one after the other through their other worldly space computer, could it be detected that the same miner was busting all the ...

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