[cryptography] Bitcoin observation

Adam Back adam at cypherspace.org
Tue Jul 5 07:06:50 EDT 2011

Maybe one could introduce a way to destroy coins.  eg transfer it to
"/dev/null" by signing a transfer to an obviously non-existant
key-fingerprint like all 0000s or such.  But I guess provable coin
destruction is not a mainstream "feature"!


On Tue, Jul 05, 2011 at 12:53:32PM +0200, Adam Back wrote:
>I dont think you can prove you have destroyed a bitcoin, neither your own
>bitcoin, nor someone else's.  To destroy it you would have to prove you
>deleted the coin private key, and you could always have an offline backup.
>You could uncreate a coin by creating a chain removing it from existance,
>by having significantly more compute cycles than the rest of the network
>combined.  Even that is dubious - not clear what would happen if the rest of
>the network colluded and agreed you did that - could they get together and
>reject your undo even though it was a more expensive chain?  Maybe... not
>been tested yet.

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