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Title: Is it possible to destroy an amount of btc eg. 0.2 btc? Post by: BadGhost on March 02, 2016, 02:44:10 PM Hereby, I would like to present a question: Is it possible to destroy bitcoin i.e 0.2 btc not the whole system but to destroy a "Coin". I believe it is not possible yet I have read it in an article. It stated that bitcoin is a file for example such as mp3 and therefore it might be lost or destroyed.
How would you destroy the private key associated with the public key? The public key aka address will be always in there and yes, one can forgot a private key but it doesn't destroy the coins it just makes them untransferable for the time no one know the key right? Title: Re: Is it possible to destroy an amount of btc eg. 0.2 btc? Post by: CIYAM on March 02, 2016, 02:46:40 PM If you send funds to an address for which the private key is unknown (such as 1BitcoinEaterAddressDontSendf59kuE) then the Bitcoin has effectively been "destroyed" (as it can never be recovered).
This idea is actually used by some "proof of burn" implementations (such as Counterparty). Title: Re: Is it possible to destroy an amount of btc eg. 0.2 btc? Post by: pedrog on March 02, 2016, 02:49:38 PM Correct, you cannot destroy a coin, you can just make it unspendable.
Here's a list of popular addresses: Burn Baby Burn! - Compiling all Bitcoin burn addresses https://bitcointalk.org/index.php?topic=917913.0 Title: Re: Is it possible to destroy an amount of btc eg. 0.2 btc? Post by: BadGhost on March 02, 2016, 02:53:41 PM Thanks guys. Just need this for a research paper. :)
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