As already mentioned in other answers, you can burn funds by sending them to an address with an unknown or provable non-existent private key, or by allocating them to an OP_RETURN
output, which can never be spent.
I want to talk about the second suggestion from your question:
Send a de minimis amount (e.g. 1 SAT) to an address which already holds coins. These will get 'overwritten' and thence lost
Imagine if someone held βΏ100,000 in a single address. Don't you think that someone would just send a single satoshi to destroy it for giggles? Clearly, this mechanic would be completely unsafe, and luckily, it doesn't exist. Whenever you send a transaction, new Unspent Transaction Outputs (UTXOs) are created. These "pieces of bitcoin" are tracked via their outpoint which is the combination of the transaction that created them and their position in the output list: txid:vout
. Addresses are merely a shorthand to encode output scripts that define the spending conditions for funds. There is no issue with multiple outputs sharing the same spending conditions, except the obvious privacy implications.
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments