[NVC] Public destruction of 110 000 coins
Hi all. As you know, BTC-E received 110k of coins before NVC was publicly released. There are so many trolling about this, and we decided to destroy it.
So, let's talk about subject. There are four basic ways, and they all work:
There are four basic ways, and they all work:
1) Come up with an address that passes the basic sanity checks but is internally invalid. You can know for sure that no key could possibly match this address.
2) Put strings of characters in the address that are way beyond what anyone could generate in a vanity address. For example, if the Bitcoin address has "FourScoreAndSevenYearsAgo" in it, it's clearly beyond anyone's capability to find a corresponding private key.
3) Use a public key that's obviously made up, such as one that consists only of zero bytes or that contains all consecutive digits of Pi. It's clearly beyond anyone's capability to find a corresponding private key. (For this one to work, you need to disclose the public key.)
4) Use a hash of the public key that's obviously made up. This works the same as the option above, but the difficulty would be in even finding a public key with such a hash, much less finding the corresponding private key.
Let's begin creation of our valid non-redeemable address for destroying coins. We will use this online address generator:
http://gobittest.appspot.com/AddressAll valid public keys begin with 0x04. We can use this byte sequence as public key:
0400000000000000000000000000000000000000000000000000000000000000000000000000000
000000000000000000000000000000000000000000000000000
Enter this line to "Public ECDSA Key" field and press "Send" button. After this you need to set the correct address version. It's can be done pretty easy by editing first byte of "Adding network bytes to 3" field, set it to 08. I.e. final value of "Adding network bytes to 3" will be
083B4DF4363CAA9E3BD9DA58020D3080BE8230A4AE
Now you can press "Send" button and get your NovaCoin address, which corresponds to invalid public key. It will be 4K7Q8XHw6vb8v25jBMQJvBYDJ71jJybzhG
We used this address for coins destruction - 4K7Q8XHw6vb8v25jBMQJvBYDJ71jJybzhG
Transaction ID is 9ffcf4b7c8a2e17a2776f7e8aaa0852ed2a7f80386bfc0d63991aac21dbdfe1e.
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