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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34
votes
7answers
14k views

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 ...
24
votes
6answers
3k views

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 ...
11
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4answers
3k views

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 ...
7
votes
1answer
322 views

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 ...
4
votes
3answers
2k views

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 ...
4
votes
2answers
158 views

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, ...
1
vote
1answer
923 views

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: ...
1
vote
1answer
753 views

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 ...
1
vote
2answers
127 views

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 ...
1
vote
1answer
425 views

How can I prove that I destroyed some bit coins? [duplicate]

If I wanted to destroy bitcoins, and prove that it was done (with relative certainty), what would I need to do?
0
votes
1answer
237 views

Accounting for currency destroyed in lost wallets? [duplicate]

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 ...