I know of a person who earns an easy $5 and now spending his life in prison time.
I'm curious to know what can you do with an old bitcoin address.

As I already pointed out on the last page if they hold CLAMS they are worth a lot more than $5. ($26 at current CLAM prices.)
If the OP is digging for CLAMS then the address must have been funded above dust level at a specified block number on May 12, 2014. Each qualifying address received 4.60545574 CLAMS currently priced at $5.78 each. All you need to do to get them is download and install the client and import either your wallet.dat file or the individual private keys. You don't even need to wait for the blockchain to synch before sending them to an exchange to sell.
You can easily check the addresses yourself at:
https://freebitcoins.com/clamchecker/dig/