It is a common characteristic of hashes that different numbers can produce the same initials. For example, as in the case you provided, 1BY8GQbnH7ny3ZbLpmVtBZLZ2Lw7528UfK. This is not surprising.
If you really think it has some connection with the private key, then can you explain why the Bech32 and SegWit addresses of the same private key don’t have the same initials, while only the legacy address does? Does legacy address have some magic in it?
I never got answer to this question @ bibilgin & Mcdouglasx after reading your comments i believe you guys are expert in this so can please explain how come probability come into this if there's no connection in any shape or form?
It's called coincidence and not a probability
Each private key acts as an independent random event, and the probability of finding a specific prefix in an address does not change regardless of previous results. This is what confuses most people since the probability of an individual event (such as finding prefix "X") remains the same on each attempt.
However, when we look for the match of multiple prefixes in a dataset example
1:256, we enter the realm of compound probability.
This is the part most intuitively ignore and therefore fail:
-Probability of finding "a": 1/16
-Probability of finding "ab": 1/256
-Probability of finding two "ab" in 256 attempts: approximately 0.18As you can see, if you find "
ab" in an early shot, the probability of finding another "
ab" in the next
256 attempts is very low. This would allow you to skip those subsequent attempts without losing significant precision, since although each attempt is still an independent event, the chances of it being there are very low.
For this reason, in probabilistic searches you can skip unlikely private keys. It's not that the private key has a relationship with the hash of the address, but that each key is essentially an independent shot, and we would omit the less likely shots.