Genesis block reward 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

hosseinimr93

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Quote from: adaseb on March 31, 2024, 11:54:50 PM

Yeah it’s satoshis address and people basically send money there for fun. Most likely it Will be lost forever. Sure it’s possible to spend but it’s highly unlikely that satoshi will ever surface or spend those coins.

Even if Satoshi owns the private key of that address, the 50 BTC premined in genesis block is still unspendable.
It may worth mentioning that satoshi would be able to spend other coins that have been sent to that address if he owns the private key.

More information on bitcoin wiki:

Quote

The first 50 BTC block reward went to address 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa, though this reward can't be spent due to a quirk in the way that the genesis block is expressed in the code. It is not known if this was done intentionally or accidentally. It is believed that other outputs sent to this address are spendable, but it is unknown if Satoshi Nakamoto has the private key for this particular address, if one existed at all.

adaseb

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Yeah it’s satoshis address and people basically send money there for fun. Most likely it Will be lost forever. Sure it’s possible to spend but it’s highly unlikely that satoshi will ever surface or spend those coins.

On the day of the anniversary of the Genesis block, many donate large sums to that address. Like last January and January before that the address was sent a huge sum. Most likely some early adopter just thanking satoshi for all his work.

The rest is just dust and bitcoin sent as a memory.

NeuroticFish

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Quote from: citb0in on March 31, 2024, 02:04:24 PM

for what potential reason?

Realistically I see two potential reasons:

1. Burn dust.
You will see that in many cases the amounts sent are very small. I guess that some use it as a safe burn address for the extra dust from their transactions.

2. Send a message.
* Some use vanity burn addresses for that as you can see in tx 55571ca5e1f86c11a5ec5837aa1edf4262042b4b18379373585047ce8f8938cf
* There may be hidden messages in some of those tx' OP_RETURN, but I don't know them.

Of course, there are unrealistic potential reasons too, the top one being that some may be under the impression if they send coins there they make a donation to Satoshi.

Upgrade00

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That address is believed to be owned by Satoshi and those 50BTC gotten from mining the Genesis block are by design not spendable, only the other bitcoins sent after can be spent.

There could be a couple of reasons why people send bitcoins to that wallet, maybe to appreciate Satoshi or as a means to lock up some bitcoins since it's unlikely that wallet will ever go active.

citb0in

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This is the bitcoin address that received the very first Bitcoin block reward in the genesis block:

1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

What information is known about the use of this address? Who regularly sends coins to this address and, above all, for what potential reason?

Topic: Genesis block reward 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (Read 140 times)