Bitcoin Forum

1BitcoinEaterAddressDontSend8MUo1T
1BitcoinEaterAddressDontSendDHyNcX
1BitcoinEaterAddressDontSendKvw7XR
1BitcoinEaterAddressDontSendS1NtDj
1BitcoinEaterAddressDontSendXbTwCR
1BitcoinEaterAddressDontSendf59kuE
1BitcoinEaterAddressDontSendpJqoEp
1BitcoinEaterAddressDontSendsUWhmf
1BitcoinEaterAddressDontSendzLvKvW

I would love to see people with thousands of bitcoins sending their bitcoins there.

Especially organizing some kind of crowdfunding, raising a few million fiat, buying bitcoin with it, and then dumping them there, to raise the value of bitcoin.

as far as i know those are just addresses where nobody has the private key for. so basically there a a lot more of these and you can make your own up in no time.
 

Yes but this is also the wastage of something valuable. I dont like idea of dumping bitcoin for whatever reason it be done

Central bank currency: USD,EUR,GBP,CHF ,etc..

If everyone gives pledges 500$ from 5 million 1st world bitcoin users, that can buy 4,411,000 BTC

If that gets burned, that results in a value increase of bitcoin to 791.17$ or by  37% (or possibly more becasue you have to buy them first)


Nothing is wasted, the market cap remains the same, every single $ invested in bitcoin remains.

It's just that the supply of bitcoin gets smaller making it more valuable by 37%

It makes me sad to think that there's over $6,000 in that address that will never see the light of day. I wish it would see the light of my bitcoin wallet. There's a lot of light there (Because it's empty)





I believe fiat is cash money in whatever your local currency is.

Man , its not wasted. That is there makes your coins more valuable, becaue they are out of circulation.

Every burned bitcoin makes the circulated bitcoins more valuable. Everyone profits from this.

I typed a bit (https://bitcointalk.org/index.php?topic=1424634.msg15816310#msg15816310) about this just 2 days ago.

You can create your own Proof of Burn (http://gobittest.appspot.com/ProofOfBurn)-address here.

The list from Patrick349 are just addresses with balance. For some reason someone sent 0.001 BTC to each of them in one transaction (https://blockchain.info/tx/196b804a79a889abc49cffe139cabbfb7e3ae59926a5735358d2aaf1629f943f).

blockr.io (http://blockr.io/) allows to search with only a small part of the address. If I search 1Bitcoin, it gives 1BitcoinEaterAddressDontSendf59kuE (I guess it's the highest balance starting with 1Bitcoin).
Blockonomics (https://www.blockonomics.co) gives a few more options. I'm still looking for a site that shows all (used) addresses starting with a certain string.

No need to wonder, you can just look it up in blockchain (https://blockchain.info/tx/1b0e0ca57e694df84310a131b6ced0a7c43460b0a51eff04943b5dbd65e8c66f). That's about $7000 including fee 3 days ago.

sometimes i thinking only stupid people who send his bitcoin to bitcoin eater adress, but iam curius who create this adress? are this address created randomly? or owner create this address with super computer using vanitygen software. ..?

I guess it does not make sense. some people who do dump will require bitcoin in greater numbers. maybe 1,000 BTC is required for it.
and feel impossible if bitcoin will be in the dump. every person would want bitcoin prices higher.

 i wonder when that 13 btc was sent? maybe during that time, btc only worth pennies.
 Sending btcs to BitcoinEaterAdresses these days are unlikely to happen.  if there are people who will, they must be very noble. Do you think satoshi should send his to those btc address?

There have been altcoins that make use of these type of adresses. In order to participate in receiving the altcoin, bitcoins have to be burned so value is not created out of thin air, but rather exchanged from bitcoin value. You may argue that it is a complete waste of bitcoin as the funds could've been used for development.

Other than that, I don't really see a purpose for these addresses, except for maybe testing.

Regarding the higher value of the other coins, I don't really see that. If someone sends 1000 bitcoin there, do you think exchange rates feel that? I don't think so.

You know transactions are timestamped right?

There was 10 btc sent at Aug 3rd 2016

And the rest was sent all this year.

surley it is impossible for anyone to have the keys to these address because it would take an eternity to produce a vanity address like that?  am i right?

1000 BTC is 0.006% of all Bitcoins. That could mean $0.01 on the exchange rate. It's a tiny amount, just like 1000 Bitcoins is a tiny fraction of the total.

Producing the private key is not possible. And if it would be possible, why take the BitcoinEater-address holding 13 BTC, when there are addresses with 141,000 BTC (https://blockchain.info/address/3Nxwenay9Z8Lc9JBiywExpnEFiLp6Afp8v)?

I was proposing 500$ for 5million bitcoin users, that would be a big boost. 37% plus buying the bitcoins.

hi guys really i did not understood what all above , as i understood it looks like someone sending bitcoins to those address,what is bitcoin eater address and what is the use of it ? and how it use full for us.can any one explain so that it will be very helpful.

The coins sent there cant be moved. The coins that are not circulating cant be sold.

Therefore "burned" coins increase the value of bitcoin, because it decreases the effective supply.

i'm not sure if i should be happy since this makes the other bitcoins more valuable or sad for the lost coins. also i'm jealous i guess.

I'm sure the owner of the wallet address is bitcoin holders for long-term period maybe also the owner is a hacker.

why on earth would anyone send to these address, i just dont get it, its like burning your cash in the house  :-\

there are some altcoins out there where you can "buy" or create them by destroying or burning your bitcoin. to do so you send your coins to such an address where they are lost forever.
so it is like burning your cash in the house but with the promise to get some new other cash for it.

this ain't my area of expertise. so these addresses are created without a private key? can people be totally certain about this? is it more work to create a private key? how do you arrive at an operating address without a private key?

Yes, yes (try to calculate these addresses on vanitygen), a lot of work and check this (http://gobittest.appspot.com/ProofOfBurn)

I never really understood the whole idea around burning coins, it was done more so in the earlier days.