Topic: Who is sending to 1111111111111111111114oLvT2? (Read 2202 times)
These people must be sending the bitcoins to nothingness because they had a bad time with it or wanted to make bitcoin more valuable as possible like what bitcoin7788 said. With 21million controlled supply minus satoshis bitcoins and these bogus address and howells lost hard drive bitcoin will surely be more valuable than what we will expected.
Stupid people, throwing money away for god knows what reason, if anyone wants to burn their bitcoins, my address is in my profile, send em all there, I'll make sure to burn them on casinos and cam girls.
Anyone burning their bitcoin is just like giving part of the value to everyone! The most they burn, the most valuable is your holdings!
Just an estimation: if you are holding 21 BTC (1/1 million club), for every 1 BTC burnt is approximately = you receiving an extra 1 bit! Isn't this wonderful?
wild guess would be more accurate
id put it at higher than that without even doing a single
calculation just going off Bitcoin instinct
I'll give $5.00 USD to anyone who provide me with the private key to that address.
2^160
I'll give $5.00 USD to anyone who provide me with the private key to that address.
Stupid people, throwing money away for god knows what reason, if anyone wants to burn their bitcoins, my address is in my profile, send em all there, I'll make sure to burn them on casinos and cam girls.
Anyone burning their bitcoin is just like giving part of the value to everyone! The most they burn, the most valuable is your holdings!
Just an estimation: if you are holding 21 BTC (1/1 million club), for every 1 BTC burnt is approximately = you receiving an extra 1 bit! Isn't this wonderful?
47 Bitcoins
Stupid people, throwing money away for god knows what reason, if anyone wants to burn their bitcoins, my address is in my profile, send em all there, I'll make sure to burn them on casinos and cam girls.
Ok. You'll have to hold my hand a little here. Don't all addresses have a private key somewhere along the line? I assumed that someone generated it, ended up with a private key and then declared it destroyed.
Yes the address does have a priv key, but it isn't available/known to anyone.Has it been proven that every 20 byte number has a correspond secpr256k1 public key that will ripemd160 hash to it?
I'm not convinced it has, so there may be public addresses that do not have a corresponding private key.
At first I thought it was a valid address, but almost all transactions shows "Unable to decode output address" ...but what is weird, the address actually contains 47.71322686 BTC. The small amounts
in quick secession points to some sort of stress test, combined with a burn experiment, because I doubt if someone has the private key for that address. What is the chances of someone creating a
vanity wallet with that address? { - 0.0000000 % } Oh, well in the grand scheme of things, those coins are lost forever.
in quick secession points to some sort of stress test, combined with a burn experiment, because I doubt if someone has the private key for that address. What is the chances of someone creating a
vanity wallet with that address? { - 0.0000000 % } Oh, well in the grand scheme of things, those coins are lost forever.
Hmm will try to find this, I like to do detective work, or maybe this is some sort of exchange site's address, because so many transactions can be done to such addresses only.
It must be some sort of ponzi address I think where people are sending money and they send back users, and so on . Other than that it might be some exchange's address too.Hmm will try to find this, I like to do detective work, or maybe this is some sort of exchange site's address, because so many transactions can be done to such addresses only.
It must be some sort of ponzi address I think where people are sending money and they send back users, and so on . Other than that it might be some exchange's address too. I read somewhere that this is a name registration distributed service, similar to namecoin but on the bitcoin blockchain, and that the 40 BTC payment was to register the name " .id ". (The registration is by proof-of-burn )
But now I can't find where I read this. Maybe someone with better googling skills can try checking this.
In this topic above? But now I can't find where I read this. Maybe someone with better googling skills can try checking this.
I read somewhere that this is a name registration distributed service, similar to namecoin but on the bitcoin blockchain, and that the 40 BTC payment was to register the name " .id ". (The registration is by proof-of-burn )
But now I can't find where I read this. Maybe someone with better googling skills can try checking this.
But now I can't find where I read this. Maybe someone with better googling skills can try checking this.
Hmm will try to find this, I like to do detective work, or maybe this is some sort of exchange site's address, because so many transactions can be done to such addresses only.
Some people burn coins to prove they have commitment to a new username/account on websites selling illegal items.
A drug dealer who wants to make a name for himself, who wants to build trust, can start burning coins these coins get tied to his new account to prove it's not a toss-away IF *superdurgsRX* has burned 10 bitcoins creating a new account you should be able to trust him up to this limit. Websites and now applications have this built in. Have a look at https://openbazaar.org/ If he steals your money you can give him bad reputation and while you have lost money he has not netted a gain because he already spent 10 bitcoins on his now worthless account because the owner has now been given bad reputation and no one will trust him again.
Some sellers will burn/invest a percentage of each sell on their reputation, to say to the world "I intend to keep this account for a long time and won't scam anyone"
A drug dealer who wants to make a name for himself, who wants to build trust, can start burning coins these coins get tied to his new account to prove it's not a toss-away IF *superdurgsRX* has burned 10 bitcoins creating a new account you should be able to trust him up to this limit. Websites and now applications have this built in. Have a look at https://openbazaar.org/ If he steals your money you can give him bad reputation and while you have lost money he has not netted a gain because he already spent 10 bitcoins on his now worthless account because the owner has now been given bad reputation and no one will trust him again.
Some sellers will burn/invest a percentage of each sell on their reputation, to say to the world "I intend to keep this account for a long time and won't scam anyone"
I do not get the concept from sending btc to an address that no one has access for ! It is like ripping fiat money a part or throwing in in the ocean ! People should care for their money in more proper way
Well, people that are about to delete a used wallet some times have a few hundred/thousand Satoshi left in that wallet. They probably sent it there just for the fun as their coins would get "deleted" anyway.
I too find it bizarre that anyone would send any coins to this address. With some of the other coins I can see wanting to burn them, but bitcoin is a lot different. Bitcoin has value and potential to grow significantly.
I do not get the concept from sending btc to an address that no one has access for ! It is like ripping fiat money a part or throwing in in the ocean ! People should care for their money in more proper way
No harm if some bitcoins are burned, it is the opposite, value of bitcoin is bigger if there are some burned coins.
I wonder if there are similar address like that but are not bitcoin eaters :-P
You can confirm that with the tech discussion experts but my guess is such an address has an astronomically small chance of finding the right priv. key.The current longest vanity address: 1EMBARraSSABLezwXrdWu1dDAVMMdJ7Ci2 . Referred from https://bitcointalksearch.org/topic/rare-address-hall-of-fame-90982
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