What's the point of Bitcoin eaters?

I see some bitcoin documentation sites reference dummy addresses like "1bitcoinEaterAddressDontSend32425663" or something made up like that. I'd assume it's just so people reading the docs won't try to "tip" the writer and send to a foobar address that was made up for the sake of example.

That said, I find addresses under this schema that actually have quite a bit of bitcoins in them. Like hundreds of transactions+ and thousands of USD worth (circa 2016 for future readers).

Here is an example (1BitcoinEaterAddressDontSendf59kuE): https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE

Who are these people sending money here, what's the point? Can anyone shed some light, lol.

Albert Renshaw

Posted 2016-11-14T07:49:49.837

Reputation: 651

Answers

I'd assume it's just so people reading the docs won't try to "tip" the writer and send to a foobar address that was made up for the sake of example

That is correct!

Other than that, there is no other real point at all. These bitcoins are gone forever and no one will ever be able to get them.

However there is some projects or new coins that does Proof-Of-Burning and by sending the bitcoin correctly to the bitcoin eater address you would get corresponding amount in the new cryptocurrency.

Joe Tannoury

Posted 2016-11-14T07:49:49.837

Reputation: 84

There are some occasions where burning bitcoin can have a purpose. – Tom Busby – 2018-03-08T16:49:48.137

I remember OpenBazaar originally had some idea for bootstrapping your reputation by burning some coins. (You couldn't send your coins to someone else because the same person may be at both ends, you don't know with a permissionless system). – Tom Busby – 2018-03-08T16:50:35.953

Man I bet that author wishes he had used a real address right about now – Albert Renshaw – 2018-03-09T21:17:50.927

The point is that someone obviously made up the sentence and then adapted the last few places to make it adhere to the checksum test, i.e. it is a valid Bitcoin address. On the other hand, it's certain that it's not an address someone generated randomly (because vanity addresses of that length would take way too much effort to generate).

Thus, it's a "safe way" to burn bitcoins.

Murch

Posted 2016-11-14T07:49:49.837

Reputation: 41 609

Yes I get that, but what's the point. Why would anyone do this? – Albert Renshaw – 2016-11-15T15:49:52.713

That was already answered by Joe: a) To have a burner address where one can be reasonably sure that it's not held by someone. b) because they can. – Murch – 2016-11-15T16:37:53.260

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

Theres no guarantee these addresses are made up ....

Of course, bitcoin eater addresses are around since the early days - but why not exploit it :)

Back then it came up as a joke, if you mined 100 btc a day wh not dump some for fun to an eater address to make the rest more valueable, then vanity addresses became mainstream ....

Aurigae

Posted 2016-11-14T07:49:49.837

Reputation: 633

That's an interesting tidbit about past miners. Ironically some of these addresses are still getting deposits even this week! Kinda strange – Albert Renshaw – 2016-11-15T19:58:07.983

Why not mine asic on such an address, may others think "omg how can anyone deposit there" oh well i sent a few cents :) – Aurigae – 2016-11-15T19:59:32.163