Who is sending to 1111111111111111111114oLvT2?

[amaclin]

I see a lot of transactions which send small amounts to
https://blockchain.info/address/1111111111111111111114oLvT2
Seems to me that this is some kind of burning btc for proving something
Which service does this ?

[1714193600]

1714193600

[1714193600]

1714193600

[1714193600]

1714193600

[1714193600]

1714193600

[Lauda]

You're asking a weird question here. Are you not aware that Bitcoin is pseudo-anonymous? How could somebody know who's sending from random address X to address Y? This is an example of a 'bogus' address; i.e. you send Bitcoins there if you want to 'destroy' them. Read more: How to destroy bitcoins?.

[ProfessionalGoogler]

Uhhhhhhhhh.. weird that is a lot of BTC.

Surely no one actually owns this address.

[amaclin]

I mean that some public service uses this address as burning address like
1CounterpartyXXXXXXXXXXXXXXXUWLpVr Proof-of-Burn
http://counterparty.io/news/why-proof-of-burn/

May be you know more. So, I am asking here

[--Encrypted--]

I mean that some public service uses this address as burning address like
1CounterpartyXXXXXXXXXXXXXXXUWLpVr Proof-of-Burn
http://counterparty.io/news/why-proof-of-burn/

May be you know more. So, I am asking here

which services does that? (in case you forgot you asked this in OP.)

[netplus]

oh

Hash 160    0000000000000000000000000000000000000000

 

[netplus]

also

https://blockexplorer.com/address/1111111111111111111114oLvT2

[amaclin]

Hash 160    0000000000000000000000000000000000000000

This is not a problem
Take zero-hash, and convert it to a bitcoin-address
You will get a valid address to send funds but you will not be able to withdraw funds from it

[pereira4]

There are a lot of weird people with a lot of BTC out there OP... we will never find a logical explanation for that. Maybe they are reading this thread right now and having a laugh at your confusion, and that's why they do it. Or maybe they are just simply and legitimately moving coins there because they all belong to the same owner and he wants to store all the coins on the same address which is pretty stupid specially when the address is so recognizable. Yeah I cant find an explanation.

[unamis76]

The answer to your question is pretty simple: folks sending coins there are people who do not value their Bitcoins.

[European Central Bank]

I'm curious about these burn addresses. Is there a verifiable way of knowing that the private keys are lost? Sounds like a beautiful long con to me.

[U2]

If you look through a few pages you can see most transactions are BTC0.00025 BTC0.00000625 or BTC0.001. I'd have to assume a lot of these are the same person/people (recently anyways).

[BitcoinHodler]

I'm curious about these burn addresses. Is there a verifiable way of knowing that the private keys are lost? Sounds like a beautiful long con to me.

the private keys are not lost.
there are no private keys for these addresses to be lost. these addresses are created without private keys.

there is no way in hell someone can create a (custom) bitcoin address with all the computing power in the world combined.

[trinaldao]

I see a lot of transactions which send small amounts to
https://blockchain.info/address/1111111111111111111114oLvT2
Seems to me that this is some kind of burning btc for proving something
Which service does this ?

no people know it
  same thread
other

Hash 160    0000000000000000000000000000000000000000

This is not a problem
Take zero-hash, and convert it to a bitcoin-address
You will get a valid address to send funds but you will not be able to withdraw funds from it

so no people can send this money? this bitcoin  

[RussianRaibow]

I'm curious about these burn addresses. Is there a verifiable way of knowing that the private keys are lost? Sounds like a beautiful long con to me.

The "proof" that nobody has the private key is in the public address itself.  The possibility of someone generating an address (from the private key) that starts with 21 ones is practically 0.

[European Central Bank]

I'm curious about these burn addresses. Is there a verifiable way of knowing that the private keys are lost? Sounds like a beautiful long con to me.

The "proof" that nobody has the private key is in the public address itself.  The possibility of someone generating an address (from the private key) that starts with 21 ones is practically 0.

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.

Sounds like you're saying that isn't possible. Can you explain it a little more?

[amaclin]

OK, I've found the answer myself.
https://www.reddit.com/r/btc/comments/41hktz/alert_some_one_is_doing_stress_test_again_lots_of/?
https://github.com/blockstack/blockstack-server/wiki/FAQ

[Hugroll]

its just people trying to destroy bitcoin, they do this by sending to an address that no one has the private key for. although i don't understand why they would do that lol.

[Mickeyb]

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. This post should explain it better than me:

You can't just make up an address by typing in whatever you want or even by typing in whatever you want from the allowed characters.  The address must meet certain mathematical requirements, but you can make an address that mostly looks like what you want and then finish it off by calculating for those mathematical requirements.  I'm sure this is explained much better in the thread I linked to in the first reply to the OP.

Technical version: The address I added in the first reply in the OP ends with f59kuE.  That isn't just random gibberish the first person to send to that address made up.  All or part of that is the checksum (mathematical verification that the address is valid).  The checksum is what prevents you from making something up completely, and it exists primarily to prevent accidental spends to typo addresses (it isn't technically required, but because it exists, it is extremely unlikely that you can type an address wrong and send coins).  The address also must only contain valid characters as defined by base-58 encoding, which prevents that particular address from being all caps (uppercase o and i are not allowed in base-58).

[DannyHamilton]

I assumed that someone generated it, ended up with a private key and then declared it destroyed.

You start by generating the private key.

Then you calculate the public bitcoin address from that private key.

The results of that calculation are completely unpredictable, so for any given private key the resulting address will be one of 2¹⁶⁰ possible bitcoin addresses, and which address it will be is completely unknown until you calculate it.

So, if you start by wanting a specific address, all you can do is keep trying different private keys and see if the resulting bitcoin addresses match the address that you want.  Since each private key has a 1 in 2¹⁶⁰ chance of being the address that you want, you have a 0.0000000000000000000000000000000000000000000000684% chance of finding the private key for that specific address each time you try.

You have a better chance of winning a major national lottery (such as the PowerBall in the U.S.) multiple times in a row than you do of starting with a specific desired bitcoin address and stumbling on the correct private key in your lifetime.

[RawDog]

I see a lot of transactions which send small amounts to
https://blockchain.info/address/1111111111111111111114oLvT2
Seems to me that this is some kind of burning btc for proving something
Which service does this ?

They are stuffing the OP_Return field with some kind of information.  I'd start there.  If you could figure out how their encodings in the OP_Return are working, you might be able to understand their purpose.  

Someone is paying 10 cents for most of these transactions.  50 BTC isn't trivial for most bitcoin users - there must be some purpose here.  

One example of an OP_Return field: OP_RETURN 69643ffe2e35185b949e313ba9ea85dc6b9dfe4c913578f9b05156acc026e42fd8b92919fd07e2 

[tobacco123]

I assumed that someone generated it, ended up with a private key and then declared it destroyed.

You start by generating the private key.

Then you calculate the public bitcoin address from that private key.

The results of that calculation are completely unpredictable, so for any given private key the resulting address will be one of 2¹⁶⁰ possible bitcoin addresses, and which address it will be is completely unknown until you calculate it.

So, if you start by wanting a specific address, all you can do is keep trying different private keys and see if the resulting bitcoin addresses match the address that you want.  Since each private key has a 1 in 2¹⁶⁰ chance of being the address that you want, you have a 0.0000000000000000000000000000000000000000000000684% chance of finding the private key for that specific address each time you try.

You have a better chance of winning a major national lottery (such as the PowerBall in the U.S.) multiple times in a row than you do of starting with a specific desired bitcoin address and stumbling on the correct private key in your lifetime.

I agree. I don't think the private key was/is/will ever be generated. The chance is basically 0.

[CIYAM]

I agree. I don't think the private key was/is/will ever be generated. The chance is basically 0.

Personally I think you should just say - there is no chance (i.e. remove the basically).

Unfortunately humans are not good at understanding huge numbers - so they still think there is some chance (like winning at a lottery).

Perhaps if you equated it to "being able to travel to Pluto and back for your annual holiday in the next 50 years" then maybe they might realise that *there is zero chance* (but then again they might not as perhaps quite a lot of people actually believe that flying on a spaceship to Pluto and back will be feasible on an average salary in 2066).

[Mickeyb]

Perhaps if you equated it to "being able to travel to Pluto and back for your annual holiday in the next 50 years" then maybe they might realise that *there is zero chance* (but then again they might not as perhaps quite a lot of people actually believe that flying on a spaceship to Pluto and back will be feasible on an average salary in 2066).

Which is your speculation, as are the ones making up the probability for the Pluto-Spaceship situation

[Zetacoin Express]

Perhaps it's service that is doing something similar to what Keybase.io does, but with no beneficiary of the sent BTC

See:
https://keybase.io/docs/server_security/merkle_root_in_bitcoin_blockchain

[FriendlyChemist]

I assumed that someone generated it, ended up with a private key and then declared it destroyed.

You start by generating the private key.

Then you calculate the public bitcoin address from that private key.

The results of that calculation are completely unpredictable, so for any given private key the resulting address will be one of 2¹⁶⁰ possible bitcoin addresses, and which address it will be is completely unknown until you calculate it.

So, if you start by wanting a specific address, all you can do is keep trying different private keys and see if the resulting bitcoin addresses match the address that you want.  Since each private key has a 1 in 2¹⁶⁰ chance of being the address that you want, you have a 0.0000000000000000000000000000000000000000000000684% chance of finding the private key for that specific address each time you try.

You have a better chance of winning a major national lottery (such as the PowerBall in the U.S.) multiple times in a row than you do of starting with a specific desired bitcoin address and stumbling on the correct private key in your lifetime.

It was a nice explanation by you , i really appreciate your efforts in this community.

[dishwara]

I found this in the 279 page.



Another address which maybe used in future.

https://blockchain.info/address/11111111111111111111BZbvjr

[TheGrimm]

Yea has to be a bitcoin eater, that would be a pretty funny address to have though.

I wonder if there are similar address like that but are not bitcoin eaters :-P

[Mickeyb]

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://bitcointalk.org/index.php?topic=90982.0

[tuvok007]

No harm if some bitcoins are burned, it is the opposite, value of bitcoin is bigger if there are some burned coins.

[coinzat]

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

[The Sceptical Chymist]

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.

[1Referee]

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.

[Quantus]

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"

[upsidedown75]

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.

[trout]

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.

[amaclin]

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? 

[barbara44]

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.

[Mickeyb]

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.

Just stop with the bullshit theories already, its a burn address and creating any such address with a private address is near to impossible

[Kprawn]

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. 

[AliceWonderMiscreations]

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.

[twister]

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.

[Bitcoinpro]

47 Bitcoins

[7788bitcoin]

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?

[AliceWonderMiscreations]

I'll give $5.00 USD to anyone who provide me with the private key to that address.

[Bitcoinpro]

I'll give $5.00 USD to anyone who provide me with the private key to that address.

2^160

[Bitcoinpro]

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

[ralle14]

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.