Bitcoin Forum

What would they use it for?

it could be a lot of different reasons!

but mostly they do it because in the past there has been altcoin airdrops based on the amount of bitcoin you had at a specific time (at a block height). for example if you had any bitcoin by the time bitcore fork happened (block #463604) you also have the same amount of bitcore (of course in this case i think the claiming period has ended).

there are a lot of these and to claim any of them you do need private keys.

Selling bitcoin is kinda creepy scheme. You are not sure about ita background. May be those where accounts soon to be banned. But what makes you attracted to by it is of its ranks so you must not let yourself be captured by it. Much better if you are to create your own account rather buying. It is a lot safer and better.

I thought that airdrops only applies if you hold a specific amount of your Bitcoin and not what you had.

They could be going for this, or they could be praying that the addy that they're buying is stolen. So in the off chance that some more Bitcoin comes to the address at some point they're going to get some money. The chances may be slim but it could be worthwhile for someone to try to grab some BTC at this high of a price.

It matters about how much BTC they had at the time of the fork, that's it.

different airdrops use different rules. some may have a minimal amount of bitcoin, for example they may only give you their coin if you have 0.1BTC at least. but the timing is always a part of it.


as i said there may be a lot of different reasons for this.
for example you should be able to find the master private key (seed) if you have a couple of private keys which were generated from that seed. so if you have a deterministic wallet and reveal a couple of your private keys, they may empty your whole wallet.

We know several hard foks have been taken place in past two yeasr, forked currencies like bitcoin cash, bitcoin gold were distributed according to your bitcoin balance existed during fork For example, if you had 1 bitcoin in your wallet during fork time, you would have received 1 bitcoin cash in your wallet.
Some websites buy these wallets to get forket currencies out of those wallet, you can sell your wallets on http://www.freebitcoins.com/

It may be to obtain a certain fork currency, because the snapshot is finished, or money laundering, falsification data.

I have a 0.70+ Bitcoin with my Electrum wallet before the Bitcoin Cash was created does it mean I am still eligible with their airdrop?

Woow we live, we learn. I was not even aware of this trend. The seller would obviously be ignorant of that airdrop otherwise why would he sell if he can claim the airdrop coins for himself.

in this time it is so hard to join bitcoin,thats why they are asking those people who want to sell their bitcoin addresses.but for me i would rather keep my bitcoin and just keep on earning.

If you were holding the coins at the time of snap shot of the block chain then you are still eligible to claim your bitcoin cash .First move your bitcoin to a safe wallet then use that private key in a bitcoin cash wallet and claim your coins ,it is a simple process but make sure your bitcoin is safe before doing anything.

they use those old bitcoin adress in order to dig clam because clam has also a value that they could sell in order to get a profit out of them. currently the price of one clam coin is $11.83  based on CoinMarketCap. however you can also try to dig clam by yourself using your own old bitcoin adress but it could also takes time to do.

i think the most two common forks/UTXO are:
- CLAM, which is a UTXO fork (addresses prior to May 24th, 2014)
- BCC prioir to Block 478558.
- Bitcoin Gold prior to block 491407.
see https://en.wikipedia.org/wiki/List_of_Bitcoin_forks.

I know there are many services offer to convert the funds into btc, but basically you just would need to know when you had which balance of coins.

I just knew peoples need old Bitcoin address to claim clam coin, that why peoples bought some old Bitcoin address. And the price of claim coin is 0.0007BTC at this time.  I believe this will going up again

i had more than 10 old wallet create june 2014 in web wallet blockchain . but i dont know this worth to sell or not . cause i dont get anything too.

A lot of people are also doing this to fool people into believing that they were early investors. If you can sign an early address, people will believe that you were invested during that period. Most people will not even think that you bought it online.

Scammers will use this as a tool to scam people into believing that they are rich or that they have access to lots of old coins.

Early investors are also admired for their courage to take risks in the days when Bitcoin was still a very high risk investment. <Brag rights>

Most likely, it is for claiming airdrops. There were plenty of airdrops in the past and not everyone know all airdrops.


Very possible reason, I didn’t think of this. Thanks dude.

These smart guys, they can pick up some forks, which is obviously a smart thing to do.

I never knew that Clam could be mined or digged through old Bitcoin addresses. To be honest, I was not even aware that there are people who are willing to buy these old addresses for the sake of it. I'm not even pretty sure before what was the purpose of buying. I thought that they prefer the old ones as personal wallet since they are the most secured ones. Anyways, is it really worth buying it? How much is the cost of these old addresses and the profits it could bring by digging clams? I might start buying if it is really profitable to do so.

usually they use it to get some Clamcoin, actually its already happened for long time. but this time they're booming again especially with some forks. if me i wouldn't sell any of my addresses for something like that

allegedly they are using it to dig clams and sell to make profit out of it . I am curious now what the clam is, is it a currency ? or a coin?  i might be doing research for that and i think old wallets are valuable than other coins because its old and only limited can have that.

Is it for any wallet or they are buying bitcoin addresses with a specific wallet?
I'm just curious.

The reasons why the user purchases many old addresses, but most of these addresses are useless, which means that the purpose of using them will not be good.
Many Scammers need old address to prove they make old deals and get some trust.
also airdrops and new forks may be other reason.
Some are trying to use these addresses to prove that they have enough record and experience and therefore more confidence, especially in good sites that try to gain confidence as quickly as possible.

This make sense. Reading about replies about forks makes me confused. Although I'm still interested on how it works. But it make sense for scammer to buy old address to use as fake proof.

That makes sense. Thanks guys!

There may be several reasons, for keeping the account secure in the midst of it, for the transaction to get faster, for the trx fees reduction. There may be many other reasons. For safety.

They want some forked coins in the past that might not be claimed yet thats why they are buying old addresses.

I am pretty new here and it's the first time I hear something like that! Never thought that airdrops are spreading on the amount of coins of some past period of times. Very interesting! I am happy I learnt something new today  :)

Yeah I’ve seen a bunch of people wanting the clam for owning BITCOIN a long long time ago, you get like $20 worth of clam for having an address

Because they used that btc address in everywhere for same address. Dev team can't think for bad or false. So people use their old bitcoin address.

Apart from clam and other forks some people need old used address to say launder money without say causing a lot of awareness by making it look real

Mainly so people can claim clam and some other forked coins. That’s why they only accept “some” private keys aka ones that don’t have any clam claimed

I don't care if they bought it for a good reason because for me, buying those addresses to your own advantage is not a challenging one to earn a profit. I rather have to use my own than buying one since it is a very nice feeling to earn from scratch.

You're so right about the CLAM's statement. The reason why many people looking for old Bitcoin addresses - because they're using those accounts to dig/mine CLAM. Even though the price of CLAM is not tremendously high, but $10 per CLAM is still consider Ok...

there are several forks that happen in Bitcoin, people buy old bitcoin address to try their lock to at least redeem the forked coins of the said address.  I do not see any reason except that one.  I also tried it myself, redeeming forked coins like BCH, BTG, Segwit2x .  And  it is worth the effort :).

It's worth the effort if they had balance and the seller of the address doesn't know about forks and stuffs, then you get lucky. simply buying an old bitcoin address that didn't had any BTC on it at the time of fork makes it useless. if i remember correctly even for CLAM there was one rule that it must have had a dust balance to be able to claim it.

This thread just caught my eye. I ran two full nodes, back when I had a pretty decent sized mining farm.

We wrote a script that literally generated 1000s, maybe 10s of 1000s of BTC addresses.

They were used as single burners, long term wallets, receiving addresses for things we sold here on the forum.

Is there any easy way to do a scan on a huge amount of addresses (such as a csv upload) to see if the addresses would qualify for any of these fork bonuses.

I was aware of the Clam distribution. Because of the requirements we didn't have that many that ended up receiving CLAMs, but the addresses we made date back to 2014ish mostly, and 2015.

Do these have value?  Do old addresses which were created on the network and broadcast but never used to receive (0 balance) have value?

Just asking out of curiosity... as we have so many.

Thanks for your help!

Strato

With CLAMs, (I know because we checked) it had to have (don't remember the exact amount); but a balance greater than X Dust.

So an account that held 0.00002400 was not credited Clams.  I can't remember the figure, but I am sure it's on the Clam OP Thread.

Cheers!

Strato

Luckily I bumped to this thread cos I really dont know why people buying old bitcoin addresses. Thanks for enlightening me guys!! happy hodling!! have a great day guys!! :)