All existing bitcoins can be in your wallet (where is my mind?)
Do you believe in address/private key collision?
e.g.
Wallet A with or without Passphrase
Wallet B of 12 to 24 words with or without passphrase generate the same xpriv or the same addresses? I know it's such an absurd probability that we don't even need to worry about it.
It's true that the number of possible private keys corresponds to the same as each atom in the Universe.
Hence the importance of generating a random number, as these will be the entropy used to discover a bitcoin wallet/addresses.
Before the seed phrase pattern was so well known, wallets like Bitcoin-Qt (before it was renamed to Core) were known to generate 100 random keys by default, so you had to make a backup to avoid the risk of the wallet generating a change address in that you didn't make a backup, BIP-32 solved this, creating the concept of "seed", a single random number gen a root key and following a standardized process, this root key gen the child keys infinitely in a deterministic way.
In other words, just a random atom from the universe is chosen but the path to the next numbers is pre-determined by this process.
It didn't take long, someone came up with the idea of converting this seed into words (BIP-39), making users' lives easier, a single list of words would protect the user's wallet so that he only needed that to restore his coins.
As the algorithms used in this process generate infinite child keys, is it possible to generate all existing private keys in the universe, considering other derivation paths?
If you create addresses infinitely, one day you may generate an address with balance, and this address probably belongs to another seed
And even if you don't find it, we still have the possibility of using infinite passphrases with the same seed, which you will eventually find.
Do you folks consider this possibility?
And finally, as I was writing another question came to mind, addresses created randomly without seeds, are they possibly associated with a seed?
I know it is possible for two xpriv to generate the same addresses
e.g.
Wallet A with or without Passphrase
Wallet B of 12 to 24 words with or without passphrase generate the same xpriv or the same addresses? I know it's such an absurd probability that we don't even need to worry about it.
It's true that the number of possible private keys corresponds to the same as each atom in the Universe.
Hence the importance of generating a random number, as these will be the entropy used to discover a bitcoin wallet/addresses.
Before the seed phrase pattern was so well known, wallets like Bitcoin-Qt (before it was renamed to Core) were known to generate 100 random keys by default, so you had to make a backup to avoid the risk of the wallet generating a change address in that you didn't make a backup, BIP-32 solved this, creating the concept of "seed", a single random number gen a root key and following a standardized process, this root key gen the child keys infinitely in a deterministic way.
In other words, just a random atom from the universe is chosen but the path to the next numbers is pre-determined by this process.
It didn't take long, someone came up with the idea of converting this seed into words (BIP-39), making users' lives easier, a single list of words would protect the user's wallet so that he only needed that to restore his coins.
As the algorithms used in this process generate infinite child keys, is it possible to generate all existing private keys in the universe, considering other derivation paths?
If you create addresses infinitely, one day you may generate an address with balance, and this address probably belongs to another seed
And even if you don't find it, we still have the possibility of using infinite passphrases with the same seed, which you will eventually find.
Do you folks consider this possibility?
And finally, as I was writing another question came to mind, addresses created randomly without seeds, are they possibly associated with a seed?
I know it is possible for two xpriv to generate the same addresses