Topic: The Bitcoin Black Hole (Read 7178 times)
Thanks for the clarification.
donate to givewell if you really don't want some money.
Sending money into the void is giving it to all other bitcoin owners.
There are people with more important needs.
Which makes the idea of punishing someone for returning taxpayer money directly to taxpayers, rather than just "burning", it even less sensible.
I don't follow "punishing someone".
My second post in this thread describes someone who had that happen to them. I thought of a bitcoin black hole as a way for her to accomplish her goal without being thrown in jail.
donate to givewell if you really don't want some money.
Sending money into the void is giving it to all other bitcoin owners.
There are people with more important needs.
Which makes the idea of punishing someone for returning taxpayer money directly to taxpayers, rather than just "burning", it even less sensible.
I don't follow "punishing someone".
donate to givewell if you really don't want some money.
Sending money into the void is giving it to all other bitcoin owners.
There are people with more important needs.
Which makes the idea of punishing someone for returning taxpayer money directly to taxpayers, rather than just "burning", it even less sensible.
After reading about the effort put into making "vanity" addresses, I didn't think hand-crafting a viable address would be so easy.
These are really two different problems.
Problem #1, create a valid address that has a certain set of characters in it (i.e. to throw away money)
Problem #2, create a valid address that has a certain set of characters in it, that I know the private key to. (i.e. vanity addresses)
In problem #1, simply start with the characters that you are trying to create a valid address with. Get the right checksum at the end, and you're all set.
In problem #2, you have to create a valid key pair, and check to see if it has your desired string in it. A much more difficult problem!
Ah, a mistake on my part; for some reason I thought the vanity addresses didn't include private keys.
why the edit to the thread title?
I figure everyone's seen the thread by now and knows it's not trolling.
donate to givewell if you really don't want some money.
Sending money into the void is giving it to all other bitcoin owners.
There are people with more important needs.
Here are some other black holes:
1111111111111111111114oLvT2
11111111111111111111BZbvjr
(Check the public key hash160)
1111111111111111111114oLvT2
11111111111111111111BZbvjr
(Check the public key hash160)
I thought there was already a way to do this (maybe not with the current client, but in the block chain...basically a way of transferring coins into the void)...I could be mistaken, but I recall asking a similar question months ago and being told this.
There is at least one other use for this that I don't think has been mentioned in this thread...bootstrapping a successor to bitcoin. If a better virtual currency were invented, it could be brought into existence via the destructive exchange of bitcoins.
Btw, regarding the destruction being the equivalent of dissipating wealth to all other holders of bitcoin, it's a great point and I can imagine that even becoming a gesture of good will for wealthy individuals...they could pledge to take a substantial portion of their bitcoin holdings to their grave (of course, it would be hard to actually verify that unless they sent them to a null address before death).
There is at least one other use for this that I don't think has been mentioned in this thread...bootstrapping a successor to bitcoin. If a better virtual currency were invented, it could be brought into existence via the destructive exchange of bitcoins.
Btw, regarding the destruction being the equivalent of dissipating wealth to all other holders of bitcoin, it's a great point and I can imagine that even becoming a gesture of good will for wealthy individuals...they could pledge to take a substantial portion of their bitcoin holdings to their grave (of course, it would be hard to actually verify that unless they sent them to a null address before death).
donate to givewell if you really don't want some money.
Sending money into the void is giving it to all other bitcoin owners.
donate to givewell if you really don't want some money.
After reading about the effort put into making "vanity" addresses, I didn't think hand-crafting a viable address would be so easy.
These are really two different problems.
Problem #1, create a valid address that has a certain set of characters in it (i.e. to throw away money)
Problem #2, create a valid address that has a certain set of characters in it, that I know the private key to. (i.e. vanity addresses)
In problem #1, simply start with the characters that you are trying to create a valid address with. Get the right checksum at the end, and you're all set.
In problem #2, you have to create a valid key pair, and check to see if it has your desired string in it. A much more difficult problem!
why the edit to the thread title?
y'know...
if you had two addresses like that, and a client that sent 0.00000001 BTC without a transaction fee, you'd have the rudiments of an unhackable, on-line voting system.
if you had two addresses like that, and a client that sent 0.00000001 BTC without a transaction fee, you'd have the rudiments of an unhackable, on-line voting system.
With users with more money to burn having more votes - it's just like the current system, but without the pesky issue of setting up corporations, controlling public opinion, etc. Cut out the middleman - Brilliant!
heh. not really. but think about it...
a separate client and blockchain, designed so only one person could own one sending address... difficulty level of 0.001... log on and generate an amount equal to the number of elections you could vote in...
VoteCoin!
EDIT: BitVote?
y'know...
if you had two addresses like that, and a client that sent 0.00000001 BTC without a transaction fee, you'd have the rudiments of an unhackable, on-line voting system.
if you had two addresses like that, and a client that sent 0.00000001 BTC without a transaction fee, you'd have the rudiments of an unhackable, on-line voting system.
With users with more money to burn having more votes - it's just like the current system, but without the pesky issue of setting up corporations, controlling public opinion, etc. Cut out the middleman - Brilliant!
y'know...
if you had two addresses like that, and a client that sent 0.00000001 BTC without a transaction fee, you'd have the rudiments of an unhackable, on-line voting system.
if you had two addresses like that, and a client that sent 0.00000001 BTC without a transaction fee, you'd have the rudiments of an unhackable, on-line voting system.
It already got 0.021 BTC.
How do you go about designing an adress like that? I guess you need a few characters at the end to make it pass the verification, but is there a tool to determine them?
How do you go about designing an adress like that? I guess you need a few characters at the end to make it pass the verification, but is there a tool to determine them?
I think it's something like the first character specify the address type (I gather testnet addresses have a different first digit than live Bitcoin addresses), then whatever you want and the last few characters are a checksum to protect against typo in the address. If you understood the checksum process, it's probably trivial to come up with an address that passes muster in the client, but no one has the private key for.
Um.... wow.
Yeah, I would think such an obviously-manufactured address wouldn't have been created from aprivate public key.
And the address has already had bitcoins sent to it?
Are those your transactions, or did you just happen to notice the address in the blockchain?
Yeah, I would think such an obviously-manufactured address wouldn't have been created from a
And the address has already had bitcoins sent to it?
Are those your transactions, or did you just happen to notice the address in the blockchain?
No, I just saw the address mentioned elsewhere. I'm pretty sure the people sending coins to it are the people who don't particularly give a fuck about Bitcoins, and thought that to the "true believers", seeing some publicly destroyed would make them rage. I guess they don't understand that it has the opposite effect, lost Bitcoins are effectively donated to everyone.
http://blockexplorer.com/address/1BitcoinEaterAddressDontSendf59kuE
Pretty sure no one has the private key to that.
Pretty sure no one has the private key to that.
It already got 0.021 BTC.
How do you go about designing an adress like that? I guess you need a few characters at the end to make it pass the verification, but is there a tool to determine them?
After reading about the effort put into making "vanity" addresses, I didn't think hand-crafting a viable address would be so easy.
One use for this would be to establish reputation score.
Someone could send bitcoins to the address and then they could be trusted up to that amount.
Someone could send bitcoins to the address and then they could be trusted up to that amount.
http://blockexplorer.com/address/1BitcoinEaterAddressDontSendf59kuE
Pretty sure no one has the private key to that.
Pretty sure no one has the private key to that.
Um.... wow.
Yeah, I would think such an obviously-manufactured address wouldn't have been created from a
And the address has already had bitcoins sent to it?
Are those your transactions, or did you just happen to notice the address in the blockchain?
Jump to: