Why Purpose #1 is Impossible:
The reason is simply because you cannot use the Bible Codes to accurately predict future events. Here is an excerpt taken from our detailed answer in the Frequently Asked Questions section.

It is extremely difficult to use the codes to predict future events, all expert researchers agree. The only experienced researcher who disagrees is Michael Drosnin, but he is influenced by his anti-God, humanist new-age religion, and his desire to draw glory to himself and not to the God of the Bible.

You cannot use the codes to predict "the future," but in some rare cases, you can predict a future event. You can never predict a future event with any degree of certainty (as far as when that event will be) using the codes. However, you can "take a shot in the dark," and guess right. You will not know that you have guessed right, until after the event happens. So the codes are of no value to anyone who wishes to know the future. That's how God designed them. Even if you find a significant code, it's very difficult to know exactly what the code is saying. We'll get into that in a second. First, you must understand how a code is found.

When a code is searched for, key words are typed in to the computer, and then the computer searches for those words. Example: For the Oklahoma City Bombing, they typed in the Hebrew name for "Timothy", "McVeigh", the Hebrew words for "building", "destroyed", "desolated", "murder", "terrorism", the date, etc...  Then, if several of those words are found in the same small area of text, then you have a code. But the problem is, how could one know what to type in, or what to search for, before the event has happened? So what it all comes down to, is: if you have a good idea of what might happen, or want to guess at some event (examples: Y2k, a famous person being assassinated, a war, etc...), and then you find several words, that all relate to each other, and they are all in the same area of text, then and only then do you have a legitimate code.

It's not fortune telling because you're not telling the future, nowhere in this process is there a "prophecy" made--it's just guesswork. You're just checking to see if the Bible prophesys about a future event. However, the codes were not put in the Bible so we could predict the future. See Isn't fortune-telling forbidden by the Bible?

There is an important word of warning to those who do find a code: Give all the glory to God, He is the one who put the code in there - anybody can find it. Stealing God's glory is wrong, He said, "I will not give my glory unto another."  Anyone who reports codes, but does not use them to give glory to God, causes us to become very skeptical of them.

Now, to discuss the issue of why you can't predict the codes with any degree of certainty. Let's take for example the code about Y2k that was found. (http://thebiblecodes.com/bcfs/y2kbu.html). While the case can easily be made that the code is telling us something about Y2k, there is no way to tell what exactly it is telling us. A common question asked is "What happens to the Bible Codes if Y2k turns out to be no big deal?" The answer to that question will help explain why you can't use the codes to predict an event with any degree of certainty.

What happens to the Bible Codes if the year 2000 comes and nothing bad happens?
       Most of the words in that code, like "death" for example, can be found encoded hundreds of times in every book of the Bible. So how do we know that the word "death" is meant to be part of the Y2k code? How do we know it wasn't there by chance? We don't. How do we know that the word "famine" wasn't there by chance? We don't. Nobody can guarantee that each and every one of those words are meant to be there as part of a Y2k code. Not one. However, it is highly unlikely for all of those words which relate to each other to all be found in the same 22 verse area. Highly unlikely. So, that's what makes it a legitimate code. But how can we know that each word is part of the code? We can't. It's just a guess. This is why it's so hard to use the codes to predict a future event. It could be that the only words that are meant to be there are the ones that say "Millennium Bug, Year 2000 computer Problem, Electricity, Telecommunications" and all that that may suggest is that the bug may affect Electricity and Telecommunications, not "sever" them. Same with the U.S. government. It could be that the government is affected, but not destroyed.  It could be that USA and Government don't even go together. And also, it's not like all of those words are describing the whole world. It could be that there will be famine in one part of the world, no electricity in another part, etc... There is no way to be sure.  It's just something to think about, and for those of you who are not saved, it's something to worry about.
        If Y2k proves to be a small bump in the road that is quickly resolved, there is no way that could even hurt the Bible codes, much less the Bible. The converse of that is also true. If the bug proves to be terrible, and devastating to the world, that alone cannot prove the codes either. This is why the codes cannot normally be used to accurately predict future events.

For more technical explanations, with examples, see the the three articles below.

Answers to attempts at using the codes to predict future events:
July 4th, 1999; and Horror in America (article written July 9, 1999)
September 11, 1999; and the Rapture (article written July 21, 1999)
September 11, 1999; and the Rapture [Part II] (article written Sept. 7, 1999)