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Questions tagged [destroy-bitcoins]

Sending bitcoin to a valid address for which no private key is currently known and become unattainable.

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How to generate a valid bitcoin address for destroying bitcoins?

(Following up to this question.) In order to put a bitcoin beyond use, the answer was to select a made up address. As this isn't a formal destruction of bitcoins, there's a risk that the private keys could be found to spend those "destroyed"…
billpg
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Can a bitcoin be destroyed?

Its the hypothetical future and BTC2 is being designed. Everyone loves BTC2 and no-one wants the old BTC1 any more. People who have BTC1 would be annoyed that their assets are suddently worth a lot less because there's no demand for their BTC1 any…
billpg
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Why destroy bitcoins?

I keep seeing references to destroying bitcoins by sending them to addresses that nobody can own (e.g., addresses derived from impossible public keys). What would be the reason for doing this? It's discussed in such a cavalier manner in various…
brianmearns
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How does a recipient know they can satisfy the transaction script to spend their bitcoins?

The wiki page on the transaction script says: The party who originally sent the Bitcoins now being spent, dictates the script operations that will occur last in order to release them for use in another transaction How does a recipient know they…
Ash Moran
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Is there an open source tool to publicly destroy bitcoins?

Several interesting applications of bitcoins involve a scenario where they are intentionally "destroyed". Is there an open source tool that can be used to destroy bitcoins? And if so, is it possible to programmatically verify (via the same tool or…
Nick ODell
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Probablity that a Bitcoin has been Lost

I am building some new metrics to better understand the Bitcoin economy and one that seems to be useful is a probabilistic notion that a Bitcoin has been lost. I'm aware of the bitcoin days destroyed, but has anyone done any modeling to gain a sense…
Charles Hoskinson
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What's with this address 1111111111111111111114oLvT2?

It was the burn address with the most BTC received in 2017 according to http://bitcoinwhoswho.com/blog/2017/12/30/8-97-bitcoins-burned-in-2017/. It's Hash160 is 0000000000000000000000000000000000000000. In Sept 2015 it served as a 40 BTC…
Bitcoin WhosWho
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How can I prove that I destroyed some bit coins?

If I wanted to destroy bitcoins, and prove that it was done (with relative certainty), what would I need to do?
makerofthings7
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How hard it is to destroy BitCoin system if the government leaders decide to do this?

Just wondering, since the government controls the physical internet. The Bitcoin system could be somehow destroyed by the governments. I'm just wondering if they want to do this, is it technically hard?
AGamePlayer
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How would I generate a valid vanity address for destroying coins?

I want to generate very long vanity addresses, with the relaxed constraint that I don't need the corresponding private key, they only need to be valid Bitcoin addresses. How would I do this? Example: Input Prefix: 1XXXXXXXXXXXXXXXXXXXX Output:…
Brian
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Accounting for currency destroyed in lost wallets?

Bitcoin will eventually be capped at 21,000,000 Bitcoins, but what happens to all the wallets that are lost? I'm sure thousands of BTC are already as good as destroyed. Even if there weren't millions of USD being printed consistently, they would…
tkbx
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Different ways in which bitcoin can be burnt

I'm interested in the different ways in which bitcoin can be burnt. I can see three ways: Send coins to a 'made-up' address. There's no way to distinguish it from a real address (so the transaction will not be rejected), except that no-one has the…
andrewr
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