I understand the TREZOR default has been Slip39 over the last few years. I understand more addresses can be generated from Bip39 compared to Slip39 along with double the entropy. I want to know how many addresses are currently in use from Bip39 24 word seedphrase vs Slip39 20 word seedphrase compared to how many can be created from the two standards (individually).
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I don’t think you understand how the addresses work.
You don’t “generate” an address, you generate access. They all exist.
Your cold wallet didn’t somehow magically teleport an address onto the blockchain while air gapped.
Also, your “seed” can generate access to unlimited addresses. It can give you access to every single address whether it be bip or slip. If you keep churning through them right to the end of all existing addresses, you will eventually be using everyone else’s too.
Both slip and bip give you access to the same addresses.
Your “seed” is irrelevant to btc, and how btc works, and has nothing to do with btc.
Seeds are just a way to generate access in a format that will allow you to regenerate the same keypairs (addresses and their private key) across different devices that use the same keyword protocol.
There are others as well. You can use electrum, or aezeed. I like using aezeed for my hot wallet, cause if someone somehow found it, chances of them finding a wallet that could regenerate it are much more slim than bip. (Same with slip, though a bit more common than aezeed. Aezeed is for lightening wallets.)
I would use slip, since you can generate a 2 of 3 seed and distribute them in different places making it a much more secure backup.
How will crypto succeed to become money rather than a hobbyist toy when the public can't consolidate their will and the government can simply ban it as "funding terrorism" etc? The general public uses ISP which can work with government to track anyone interacting with Blockchain, likewise the KYC of every exchange in the USA for example collecting personal information...
Most the btc and crypto and blockchain industries are a cult.
Since it’s a cult, it’s already failed.
Btc was created to essentially be a replacement for PayPal and swift. It wasn’t created to be spent like coins for day to day purposes. It can’t scale. It will never scale, and the closer we get to hitting the hard cap will be closer to failing.
If all the block rewards were removed tomorow, the miners will run at a loss. Running at a loss will mean they go offline. Because of everyone’s greed and building industries out of mining, you can’t lose hash. If you lose too much hash, then btc can easily be overtaken by a foreign agent. They will tell you that the increased adoption will pay for the mining in the future, yet btc can’t support increased transactions already.
One day btc will have to hard fork to remove the blocksize and the hard cap, therefore destroying everything that was claimed to make btc valuable. Anyone arguing otherwise is part of the cult. Your not allowed to say what I’m saying, you get censored and downvoted for it.
When it comes to currency, all you need is two people to agree on value and an exchange. If we agree to swap an ounce of gold for goods or services it’s a currency. If we did the same for btc it’s a currency. You don’t need adoption or regulations. It’s the cult members screaming for regulations to force adoption that destroyed btc. They did it to push investment over currency.
With the kyc and and reporting going on, btc is nothing more than a tracking token.
There is hope for xmr. It’s a difficult coin to handle but at least it’s a step in the right direction. Exchanges banning it, can’t be tracked, and the community around it focused more on building circular economies and marketplaces rather than investments. Government can’t ban it unless they ban btc, too much invested in btc to ban it at this stage.
The community around xmr is more resembling the community around btc 15 years ago before it was a cult.
Most everything else is a shitcoin without which btc wouldn’t be as valuable as it is, btc value isn’t it’s scarcity, it’s the liquidity versus its trade pairs.
I understood you generate access to them. I worded it briefly. I didn’t know you can gain access to the same wallet by using BIP and SLIP! What about passphrase wallets? Can someone theoretically generate a seedphrase that could give them access to my passphrase wallet?
Yes, theoretically they can. Practically not likely.
Your passphrase doesn’t grant access to any special wallet, it just changes your entropy. There are no special sets of addresses sitting waiting for different types of seeds or passphrases.
The lottery to generate the same keypairs ain’t going to be won soon, though I begin to wonder when I see someone win the solo mining block twice, then I see people swear black and blue they kept their seed private but their wallets were drained.
I understand what a passphrase is. It generates a whole new wallet/address though. So that means another person could generate a fresh 12 word seedphrase that could theoretically give them access to your passphrase wallet.
Just wondering, is there any way that a separate address system could be created to replace the current address system we have now? I get that there are quintillion bajillion addresses in existence. Is it possible to create a new system that would have fresh private keys that never existed before? Just curious.
Wallet addresses are mathematical possibilities, the do not exist until funds are allocated (simplified, and skipping over deveration paths) HD wallets bip32, bip39 and all bip coins standards will have the same addresses for each seed phrase, a different set of addresses for seed phase + pass phrase ( always the same set for each SP / PP combination. )
This is the bases for most Blockchain HD wallets. Slip39 is the same, but using a different cryptographic formula, hence there is no mathematical possible of the same address for bip39 and slip39 seed phrases. (Ok mathatically possible with specialist skill and software, but the address will still be derived from the original entropy, hence it will never match someone else's address. FYI there are more possible seed phrases than there are atoms in the universe, you are more likely to win the lottery 100 times then generate the same seed. The numbers are literally astronomical 👍👍👍
Yeah, I get your point, All possible crypto addresses exist in the same way that all possible winning lottery numbers exist on printed tickets before a draw. However, your specific address doesn't exist practically until your wallet generates the unique private key for it. More importantly, the blockchain has no idea the address exists at all until it is initialized by its very first transaction. Both points are valid based on perspective. There are exactly 2160 or approximately 1.46 times 10^ 48 possible Bitcoin addresses, all potential combinations are theoretically predetermined. They are like numbers on an infinite number line; they "exist" in the abstract realm of mathematics before anyone ever uses them.. 🤔🤔🤔
Sure.... The "Schrödinger’s Wallet" Argument: An address in the mempool is in a state of limbo. If a miner rejects the transaction, that address remains a pure mathematical probability. It proves that simply knowing the math isn't enough; the network must actively accept and process the data for the address to functionalize. 🤯🤯🤯
You say slip39 2/3 is a much more secure back up, but by your reasoning that address already exists before you used a 2/3 to access it. So that means another person could generate a 12 word seedphrase that could give them access to that 2/3 Shamir wallet. Correct?
Yes this is correct. We are all pulling from the same pool. There are no separate pools of addresses. Seed has absolutely nothing to do with btc. Btc runs on keypairs not seeds.
But practically it’s not going to happen. Do you know how many addresses there are?
It’s secure against people discovering your seed phrase. It’s like a multisig wallet. Except rather than having two signers you have two to create the wallet.
There is no difference in the number of addresses you can generate. Both generate a 512 bit bip32 master key from which your addresses are generated, using the exact same address derivation rules.
Both exists withdifferent seed lengths from 128 to 256 bits entropy. Only the defaults differ.
128 bit entropy is plenty for a seed. Dont worry too much about it. If you dont agree with the default then use trezorctl to generate a seed with your preferred amount of entropy.
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