What happens if you send funds to a customized address?

[BlackHatCoiner]

I don't try it, because I may lose some satoshis for no reason.

If you browse this: https://blockchair.com/bitcoin/address/satoshi

You can see that it reads whatever address you submit. Of course, address named "satoshi" doesn't exist because no private key produces it. So, do wallets allow me to send funds to that address?

[ranochigo]

Nothing will happen.

On a client level, the client should have a check which rejects any addresses that are of an unknown format. If it does filter through, in the case of a typo, the checksum will not checkout and it won't be a valid address.

If you do send to an invalid address, the nodes that receive the transaction will not consider it as valid. As a result, your transaction is not propagated and nothing happens. There is no real danger of accidentally sending to the wrong address through typo either.

[akhjob]

On a client level, the client should have a check which rejects any addresses that are of an unknown format. If it does filter through, in the case of a typo, the checksum will not checkout and it won't be a valid address.

While we can't send anything to a customised address like "satoshi" or "bitcoin" because they are of unknown format, what about customised addresses like "1BitcoinEaterAddressDontSendf59kuE"? We can send funds to the said address, right?

[BlackHatCoiner]

Yes, because there may be a private key that produces it.

[ranochigo]

While we can't send anything to a customised address like "satoshi" or "bitcoin" because they are of unknown format, what about customised addresses like "1BitcoinEaterAddressDontSendf59kuE"? We can send funds to the said address, right?

Yes you can. They are valid addresses.

Those kinds of addresses are specially designed to burn the coins. This means that while they are valid[1], there is a very low chance that someone would have access to those coins. It is obvious that the address is used to burn coins. Typing those addresses out accidentally and not realising that something is amiss is impossible.

Yes, because there may be a private key that produces it.

There is. The address is perfectly valid because the checksum checks out.


[1] https://bitcoin.stackexchange.com/questions/1851/how-to-generate-a-valid-bitcoin-address-for-destroying-bitcoins

[bitmover]

While we can't send anything to a customised address like "satoshi" or "bitcoin" because they are of unknown format, what about customised addresses like "1BitcoinEaterAddressDontSendf59kuE"? We can send funds to the said address, right?

Yes you can. They are valid addresses.

Those kinds of addresses are specially designed to burn the coins. This means that while they are valid[1], there is a very low chance that someone would have access to those coins. It is obvious that the address is used to burn coins. Typing those addresses out accidentally and not realising that something is amiss is impossible.

Just to add some more information to the discussion, I want to share this table which shows the average time to find a customized address like this one:


https://en.bitcoin.it/wiki/Vanitygen


It would take 3.3 decilllion years. What the hell is a decillion? lol I checked wikipedia, it is a 10³³ years lol

[PrimeNumber7]

It appears that blockchair will accept any string, and will search their database of addresses with the string you provide. It does not appear that blockchair will actually confirm the string you are providing is actually a valid address.

If you do send to an invalid address, the nodes that receive the transaction will not consider it as valid. As a result, your transaction is not propagated and nothing happens.

More importantly, any miner that includes a transaction that sends coin to an invalid address in their block will have the block be rejected by the rest of the network.

[pooya87]

More importantly, any miner that includes a transaction that sends coin to an invalid address in their block will have the block be rejected by the rest of the network.

this is not true.
bitcoin does not validate outputs in transactions so they can contain any kind of script or even invalid set of bytes and the transaction and the block containing it is still a perfectly valid one. you can already find many invalid (unspendable) UTXOs that were mined just fine.

P.S. BTW your wording is bad, we don't send coins to an address. we send coins to an output script. and that script can be invalid.

[BlackHatCoiner]

Do we know any burning addresses that have funds right now? They should be written in the blockchain. I wonder of on LoyceV's csv file exist.

[ranochigo]

Do we know any burning addresses that have funds right now? They should be written in the blockchain. I wonder of on LoyceV's csv file exist.

1CounterpartyXXXXXXXXXXXXXXXUWLpVr
1111111111111111111114oLvT2
1ChancecoinXXXXXXXXXXXXXXXXXZELUFD

It's not immediately obvious if an address is a burn address but I imagine you can train a script which can identify them to a reasonable accuracy. Burn addresses are not the best way to burn coins as they can introduce UTXO bloat. It's better to use OP_Return.

[LoyceV]

Only 1 week for 1Bitcoin*? Interesting.

Actually, it can be generated much faster, bitmover's list must be outdated. My old laptop gives 20 hours for 50% chance of finding such an address, and I've read about vanity generating speeds up to 100 times faster than this. So with modern hardware, you should be able to get several per hour. And if you just want "something nice", you can search for thousands of different word phrases at once.

Do we know any burning addresses that have funds right now? They should be written in the blockchain. I wonder of on LoyceV's csv file exist.

Feel free to check it: List of all Bitcoin addresses with a balance.
If I search for a bunch of xxxxxxxxxx, I find 219 matches:

Code:

1CounterpartyXXXXXXXXXXXXXXXUWLpVr	213091301265
1ChancecoinXXXXXXXXXXXXXXXXXZELUFD	48019562280
1MetronotesxxxxxxxxxxxxxxxxxY4qPvn	200000000
1NewbiecoinXXXXXXXXXXXXXXXXDN67UA8	131817000
1BURNFoWXXXXXXXXXXXXXXXXXXXY5LRms	36810050
1BURNTSH1RTxxxxxxxxxxxxxxxxuckhAY	10060099
1BurnPepexxxxxxxxxxxxxxxxxxxAK33R	4331378
1CJbtcjamcomxxxxxxxxxxxa9o68W9Y4xc	4216200
1EricLombrozoXXXXXXXXXXXXXXXWACBVB	2500000
1LTBBURNxxxxxxxxxxxxxxxxxxxxQiaRZ	1965660
1969SandraSandicXXXXXXXXXXXXXvdEiU	1500000
1JeSuisChar1ieXXXXXXXXXXXXXXZCQPGy	1200000
1CJbitcoinxxxxxxxxxxxxxf345bTqkHtb	705010
1BURNSogXXXXXXXXXXXXXXXXXXXXW3ny2Y	434480
1CJpurseioxxxxxxxxxxxxx89877Z1rLzQ	427215
1haiLLordkekxxxxxxxxxxxxxxxtn8WwC	190870
1hyugaxxxxxxxxxxxxxxxxxxxxxtkbLXZ	114190
1MorveusWasHereXXXXXXXXXXXXXXnn9Zd	100000
1JewsDidTheEconomyXXXXXXXXXXbd7ZkE	100000
1G1itch1sAShitXXXXXXXXXXXXXZhFj71	100000
11rregard1essSUCKSxxxxxxxxxxnWcVw	100000
1CzarpartyxxxxxxxxxxxxxxxxxxVpVnVc	100000
1EatShitTravismitXXXXXXXXXXVwn1Wb	100000
1TrustMe1mADoucheXXXXXXXXXXWPGcQC	100000
1Love1LifeAnd1LenaxxxxxxxxxxyfvHJk	100000
1Tommy1SGreedyXXXXXXXXXXXXXUaCcpi	100000
11589b3caadbd4odbXXXXXXXXXXWTF16u	100000
1kojixxxxxxxxxxxxxxxxxxxxxy46RA3r	81490
1DJasanyanxxxxxxxxxxxxxxxxy1uERgj	54420
11ParticipantsXXXXXXXXXXXXXUGmPx6	54301
1WhatissynereoXXXXXXXXXXXXX4p2rSe	43440
1BurnFakePepexxxxxxxxxxxxxxzo7tqD	32744
1DARKCLAMxDooGXXXXXXXXXXXXXXZPbYip	32580
1kanoxxxxxxxxxxxxxxxxxxxxxxztz7Sb	32580
1zakiyamaxxxxxxxxxxxxxxxxxxw7ybLT	32580
1DARKCLAMxBURNXXXXXXXXXXXXXXVvbpkg	27150
1BURNXXXXXXXXXXXXXXXXXXXXXXXTVanmh	27150
1mikehearnxxxxxxxxxxxxxxxxxzxJYCq	21760
1r3xxxxxxxxxxxxxxxxxxxxxxxy44N3ru	21720
1BurnRustxxxxxxxxxxxxxxxxxxzhjnHj	21720
1BURNmentorsxxxxxxxxxxxxxxxwUtLJh	21720
1TestxxxxxxxxxxxxxxxxxxxxxxzoXNkw	21720
12ofThe1xxxxxxxxxxxxxxxxxxxy1aqzJW	20001
1AMbenXXXXXXXXXXXXXXXXXXXXX111dCKD	20000
1AMbenchanXXXXXXXXXXXXXXXXX11NuJ8W	20000
1PAYbenXXXXXXXXXXXXXXXXXXXWzzRFRXP	16660
1hardforkxxxxxxxxxxxxxxxxxxu9iBLr	16290
1Trigburnxxxxxxxxxxxxxxxxxxw5X1QR	16290
1GEMZBURNXXXXXXXXXXXXXXXXXXXVUKFt4	16290
1kinoshitaxxxxxxxxxxxxxxxxy27FE4R	16290
1AMpauLXXXXXXXXXXXXXXXXXXXWzywCd6j	15430
1tokeneconomyxxxxxxxxxxxxxxshrDv5	10900
1Satanxxxxxxxxxxxxxxxxxxxxxw4d9KE	10860
1oishixxxxxxxxxxxxxxxxxxxxxxFftCZ	10860
1GenesisxxxxxxxxxxxxxxxxxxxuRkNpc	10860
1sugiixxxxxxxxxxxxxxxxxxxxxy8KU3n	10860
1craigxxxxxxxxxxxxxxxxxxxxxsveXGX	10860
1segwitxxxxxxxxxxxxxxxxxxxxxwqcT1	10860
1BurnXXXXXXXXXXXXXXXXXXXXXXXXekdRL	10860
1thedaoxxxxxxxxxxxxxxxxxxxy3gNefa	10860
1BitSupraBurnProofXXXXXXXXXXUqAPsu	10860
1AMben2testXXXXXXXXXXXXXXXX13vSQYz	10000
1CJcexioxxxxxxxxxxxxxxx1e563ZjgZv6	10000
1AMjohnsonXXXXXXXXXXXXXXXXX115AFJG	10000
191mMadYoureMadxxxxxxxxxxxxxvwA4Up	10000
1AMjeffXXXXXXXXXXXXXXXXXXXWztqULCz	10000
1AMbentest4XXXXXXXXXXXXXXXX12Jn3J2	10000
1CounterPartyXXXXXXXXXXXXXXXbVS9fo	10000
1AndHurtYouXXXXXXXXXXXXXXXXaYyvdw	10000
1AMchrisXXXXXXXXXXXXXXXXXXX11FV7LX	10000
1AMbentestrefundXXXXXXXXXXWzx7iBLp	10000
1AMben1testXXXXXXXXXXXXXXXWzuksvHt	10000
1AMfuckXXXXXXXXXXXXXXXXXXXWzyyX3tr	10000
1AMbencxrXXXXXXXXXXXXXXXXXX113Y5Mq	10000
1AMbenteztXXXXXXXXXXXXXXXXWzz3nejr	10000
1AndDesertYouXXXXXXXXXXXXXXZGQ6kS	10000
1AMbentest2XXXXXXXXXXXXXXXWzvF3K3t	10000
1AMzacharyXXXXXXXXXXXXXXXXWzvuSJ8s	10000
149ba59abbe56eo57xxxxxxxxxxxxxM37X	10000
1AMdemoXXXXXXXXXXXXXXXXXXXX14ugQed	10000
1KediaxxxxxxxxxxxxxxxxxxxxxxX5KzMz	10000
1BURNXXXBiTCoiNXXXXXXXXXXXXXVLuvfk	10000
1AMbentest3XXXXXXXXXXXXXXXWzzuthHX	10000
1AMbencxr1XXXXXXXXXXXXXXXXWzzCAbqY	10000
1Zcash1sCoporatexxxxxxxxxxxzdzPxB	10000
1CJrippLecomxxxxxxxxxxx5efb2bbQUA8	10000
1AMtonyXXXXXXXXXXXXXXXXXXXX147UcZ1	10000
1BurnTestnetXXXXXXXXXXXXXXXavHr1J	8190
1PrevAgorasXXXXXXXXXXXXXXXXYBAVyY	8190
1MayukoMuraokaXXXXXXXXXXXXXXX5f8QC	6552
1TiLtheEndofTimeXXXXXXXXXXXZzUF35	6000
1NowAndForeverXXXXXXXXXXXXXRKThZj	6000
1BurnFadeGraceXXXXXXXXXXXXXXYYque6	5600
1CJantiwarcomxxxxxxxxxxdo61eZKX7th	5500
1bitfinexxxxxxxxxxxxxxxxxxxzjVHxU	5430
1editxxxxxxxxxxxxxxxxxxxxxxwKh9EC	5430
1CKGAMEBURNiTALLxxxxxxxxxxxxeLDrH	5430
1shitcoinxxxxxxxxxxxxxxxxxxwY1LYu	5430
1finaxxxxxxxxxxxxxxxxxxxxxxtpcuxf	5430
1wadaxxxxxxxxxxxxxxxxxxxxxy1c6a95	5430
1JesseFuckedUpxxxxxxxxxxxxxxvk6ma	5430
1NiHao1CoinAssoBoTXXXXXXXXXXUrgPGP	5000
1AC29DD53ooooXXXXXXXXXXXXXXbDWGGG	3394
1DistributedLabXXXXXXXXXXXXXSGJ8Ee	3031
1PAYcaLebXXXXXXXXXXXXXXXXXWzzJde8k	3000
1February232o19xxxxxxxxxxxxyszYRR	3000
1AMaLexXXXXXXXXXXXXXXXXXXXX12acNQx	3000
1B1ockchainCourseXXXXXXXXXXXaJJNUJ	2780
1iLearn7yxxxxxxxxxxxxxxxxxxwUFVTr	2562
1iLearn7xxxxxxxxxxxxxxxxxxxytM3jh	2481
1PAYzachXXXXXXXXXXXXXXXXXXWzzyDmGW	2000
1AMcaLebXXXXXXXXXXXXXXXXXXWzw5FQ7E	2000
1PAYcaLeb2XXXXXXXXXXXXXXXXX111ArAm	2000
1PAYaLexXXXXXXXXXXXXXXXXXXWzw1NkfG	2000
38asdfApriL142o19axxxxxxxxxxsMKzCw	1686
1LiTMarch242o19axxxxxxxxxxy3QLatG	1605
1LiTMarch172o19axxxxxxxxxxy3Kyvee	1524
1LiTMarch152o19bxxxxxxxxxxxvP581V	1524
1LiTMarch162o19dxxxxxxxxxxxyjSUMu	1524
1LiTMarch162o19axxxxxxxxxxxzS6dij	1524
1HEiLHiTLERxxxxxxxxxxxxxxxy23HRj8	1488
1birdMarch142o19axxxxxxxxxxxbMeo5	1443
1LiTMarch152o19axxxxxxxxxxxvb4SiA	1443
1LiTMarch162o19cxxxxxxxxxxxwJfdFG	1443
1LiTMarch152o19dxxxxxxxxxxxxWWyGi	1443
1LiTMarch172o19dxxxxxxxxxxy24B1SY	1443
1LiTMarch172o19cxxxxxxxxxxxyTYDzz	1443
1birdMarch142o19xxxxxxxxxxxuvSLyH	1362
1LiTMarch172o19bxxxxxxxxxxxyWyHeP	1362
3LiTApriLo52o19axxxxxxxxxxxy44k7Dm	1362
1LiTMarch162o19bxxxxxxxxxxxyjnShJ	1362
1LiTMarch152o19cxxxxxxxxxxxyF2ig8	1362
1birdMarch142o19bxxxxxxxxxxztFjuX	1281
1Rea11yYouDontSayxxxxxxxxxxzfzp3K	1212
3LiTApriLo32o19axxxxxxxxxxxxyk2WKY	1200
1UribeParacoHPxxxxxxxxxxxxy25M5c3	1000
1hxxxxParhaimmatxxxxxxxxxxxyUUD8b	1000
1cxxxxxxxxxxoTMxxxxxxxxxxxxtkFXDH	1000
1exxxxxxxxxxxKTMxxxxxxxxxxy4cqrRJ	1000
1HexEncodedJPGxxxxxxxxxxxxxwt3J6q	1000
1exxxxxxxxxxxipsaxxxxxxxxxxzQ4zdE	1000
1onTwitterxxxxxxxxxxxxxxxxy3FJj3h	1000
1JBTC123xxxxxxxxxxxxxxxxxxy2CSwhH	1000
1gxxxxxxxxxxestxxxxxxxxxxxxzLHrX9	1000
1bxxxxxxxxxxxDixxxxxxxxxxxxvzz4xa	1000
1fxxxxxxxxxxPotentiaxxxxxxxwPzowd	1000
1JouMaSePoesxxxxxxxxxxxxxxxymFocB	1000
1dxxxxxxxxoskariAxxxxxxxxxxvFpyPx	1000
1GodB1essAmericaxxxxxxxxxxxyEGQkE	1000
1FoLLowxxxxxxxxxxxxxxxxxxxxvbiCPb	1000
3LookUpMorexxxxxxxxxxxxxxxxxyzfoHa	906
1YourBusinessXXXXXXXXXXXXXXVyK2sv	900
1JoeBuddeno2111922XXXXXXXXXXaZnhEC	633
12BDD36oAooooXXXXXXXXXXXXXXXTxEJzX	630
1936795EEooooXXXXXXXXXXXXXXZFm8yq	630
1HKGame213Part2xxxxxxxxxxxxzQajrj	600
1HKGame213Part7xxxxxxxxxxxxxkZvvJ	600
1HKGame213Part5xxxxxxxxxxxxz2gdZM	600
1HKGame231Part3xxxxxxxxxxxxxXqbJd	600
1HKGame213Part6xxxxxxxxxxxy1tEtHQ	600
1HKGame213Part3xxxxxxxxxxxxxegTSm	600
1HKGame213Part1xxxxxxxxxxxxwskcKY	600
1HKGame213Part4xxxxxxxxxxxxz86iBP	600
1HKGame231Part1xxxxxxxxxxxxtPiWJr	600
1HKGame231Part2xxxxxxxxxxxxyguR9P	600
1oao18a969514ooooXXXXXXXXXXVRvAPt	588
1TEFASZ11111111XXXXXXXXXXXXZYCvxv	546
1Test2xxxxxxxxxxxxxxxxxxxxxvSmR9t	546
1HerpDerpXXXXXXXXXXXXXXXXXXXXxELoa	546
1Lets1xxxxx1use1xxxxxxxxxxy1UZK7b	546
1Test3xxxxxxxxxxxxxxxxxxxxxtMXkCY	546
1NoHandLeBarsXXXXXXXXXXXXXXXaFf5qh	546
1CmasterXXXXXXXXXXXXXXXXXXXTkxxs9	546
1Test1xxxxxxxxxxxxxxxxxxxxy2ASbjP	546
1HajraBabak111111xxxxxxxxxxxaH7Dh	546
1DistributedLabXXXXXXXXXXXXXu2VooX	32
1BitcoinHackatonXXXXXXXXXXXXXmiaqi	32
11EtchabLockdotcomXXXXXXXXXXzmeuk	10
1inTheWabeXXXXXXXXXXXXXXXXXY4msMd	2
11ToTheeXXXXXXXXXXXXXXXXXXXdR6cAb	1
11ExceptionsxXXXXXXXXXXXXXXZQvoAs	1
11VaryingNumberofXXXXXXXXXXS53NeZ	1
11AdmitNeitherXXXXXXXXXXXXXUijHfx	1
11NoPQRSTUVWXYZXXXXXXXXXXXXUteyja	1
11BLahBLahBLahXXXXXXXXXXXXXZTGiC2	1
11Purposefu11yNotXXXXXXXXXXW8rDwJ	1
111XXXXXXXXXXXXXXXXXXXXXXXXSrJJb1	1
11GovernmentsLongXXXXXXXXXXXqCAG8	1
11Wi11DictateThatXXXXXXXXXXbVNCX4	1
11NequeXXXXXXXXXXXXXXXXXXXXTutHMo	1
11GoingXXXXXXXXXXXXXXXXXXXXaeLbCD	1
11TUVWXYZXXXXXXXXXXXXXXXXXXTDiFJV	1
11MathematiciansAtXXXXXXXXXXzfJTd	1
11ABCDEFGH1JKLMXXXXXXXXXXXXXtTSgS	1
11ForeverXXXXXXXXXXXXXXXXXXWcSE4Z	1
11XXXXXXXXXXXXXXXXXXXXXXXXXXVB55p	1
11BeginWithADigitXXXXXXXXXXWEE9Z4	1
11A11Myse1fXXXXXXXXXXXXXXXXXn5k7N	1
11DotComXXXXXXXXXXXXXXXXXXXadFTXV	1
11AndThePursuitofXXXXXXXXXXThdsC2	1
11HeLLoWorLdXXXXXXXXXXXXXXXXkGB57	1
11SamosoneofTheXXXXXXXXXXXXa3eE95	1
11YourActXXXXXXXXXXXXXXXXXXSpZKsG	1
11ForTheMi1kfundXXXXXXXXXXXYpuA12	1
11HawkingXXXXXXXXXXXXXXXXXXRu9FPe	1
1PMCtoPMPXXXXXXXXXXXXXXXXXXXWgbbu1	1
11MaLesuadaTemporXXXXXXXXXXZQgpzP	1
1PMCXXtoXXPMPXXXXXXXXXXXXXXXbFohR7	1
11SagittisErosEratXXXXXXXXXXJXprW	1
11L1sLowercaseXXXXXXXXXXXXXZbZky9	1
11Ta1eofSeeingTheXXXXXXXXXXTguUi2	1
11Lfv3bcobfwkXXXXXXXXXXXXXXSYRF5z	1
11YoutubedotcomXXXXXXXXXXXXWwAwjx	1
11AbuseCoprophi1iaXXXXXXXXXXeNnbq	1
11BLockDotComXXXXXXXXXXXXXXb2StBh	1
11UsingLasersXXXXXXXXXXXXXXYMKoJ7	1
11ForExamp1eXXXXXXXXXXXXXXXaLpZWy	1
11SecurityXXXXXXXXXXXXXXXXXcKTtqh	1
11WhichUsersMakeXXXXXXXXXXXX4tQgN	1

1CounterpartyXXXXXXXXXXXXXXXUWLpVr is the dumbest: they burned 2130 BTC to create a shitcoin that's now worth only 2.4 million dollars.

It's not immediately obvious if an address is a burn address

Any address can burn coins (just delete your private keys and it's burned!), but what makes burn addresses special is that it's obviously not randomly generated. I've used an address starting with 166666666 in the past, which wasn't a burn address. But if it would be 20 more sixes, it becomes very unlikely to own it's private key.
For fun: Create your own Bitcoin burn address.

[BlackHatCoiner]

And we should not forget that a private key is a fixed length string. If you choose an address without knowing its private key it is very likely that there is no 64-length private key that produces it, right? Theoretically.

Example:

Address 1: 1L1Z1V8WCQi5DEuQeF3GLR9LPWEUF2swtU

Private key 1: c89856dd1b8f867fedfbefaa95c340a086aaaf1b086ffa3772b37540b45912f9



Address 2: 1L1Z1V8WCQi5DEuQeF3GLR9LPWEUF2swtu

Private key 2:  ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?

We can't know if there is a 64-length private key that produces 1L1Z1V8WCQi5DEuQeF3GLR9LPWEUF2swtu

[LoyceV]

And we should not forget that a private key is a fixed length string. If you choose an address without knowing its private key it is very likely that there is no 64-length private key that produces it, right? Theoretically.

That's very unlikely: there are 2²⁵⁶ public keys, but only 2¹⁶⁰ version-0 addresses, so each address actually represents on average 2⁹⁶ different public keys.

Address 2: 1L1Z1V8WCQi5DEuQeF3GLR9LPWEUF2swtu

This is not a valid address. The last characters are a checksum.

[ranochigo]

It's not immediately obvious if an address is a burn address

Any address can burn coins (just delete your private keys and it's burned!), but what makes burn addresses special is that it's obviously not randomly generated. I've used an address starting with 166666666 in the past, which wasn't a burn address. But if it would be 20 more sixes, it becomes very unlikely to own it's private key.
For fun: Create your own Bitcoin burn address.

Yep but I wasn't sure if its easy to create a something to identify a particular pattern within the address that makes it likely to be a burn address. I have doubts about its reliability; addresses with a lot of the same continuous characters would definitely be a burn address but I've seen burn addresses which are a lot more unique (not vanity).

[RXUser]

1CounterpartyXXXXXXXXXXXXXXXUWLpVr is the dumbest: they burned 2130 BTC to create a shitcoin that's now worth only 2.4 million dollars.

Do you have any idea why this address and some other old addresses keep receiving coins from a specifics address periodically ?

[BlackHatCoiner]

OMG, I just saw the 1CounterpartyXXXXXXXXXXXXXXXUWLpVr!

What exactly happened there? Do we have any threads? It seems burnt address. (meaning, no private key that produces it)

[ranochigo]

OMG, I just saw the 1CounterpartyXXXXXXXXXXXXXXXUWLpVr!

What exactly happened there? Do we have any threads? It seems burnt address. (meaning, no private key that produces it)

Proof of burn. A new crypto was created through the use of burning Bitcoins to earn the alt coin. See LoyceV's post and Google it please., its pretty easy to find the info.

https://counterparty.io/why-proof-of-burn/

https://bitcointalk.org/index.php?topic=395761.0