On January 3rd, 2009, the mysterious Satoshi Nakomoto – pseudonymous creator of Bitcoin and blockchain technology, mined the first-ever Bitcoin block, dubbed the Genesis Block.
Today, we look back at the monumental event that took place more than ten years ago and celebrate the birth of blockchain and the world’s first-ever cryptocurrency: Bitcoin.
On This Day: 11 Years Since Satoshi Mined The First Bitcoin Block
Cypherpunks – technological activists that promote privacy, decentralization, and cryptography – had long been experimenting with the earliest forms of digital cash. However, before this technology could ever reach the mainstream, developers needed to first address double-spending.
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The mysterious Satoshi Nakamoto found a solution similar to Hal Finney’s Reusable Proof-of-Work system, and thus, distributed ledger technology and the proof-of-work mining system that verifies all blockchain transactions were born.
While Bitcoin’s white paper was first introduced in 2008 via a Cypherpunk mailing list, it wasn’t until January 3, 2009 that Satoshi mined the first Bitcoin block, now referred to as the Genesis Block.
Embedded within the coinbase of the Genesis Block, Satoshi included a headline from The Times referencing big banks being bailed out during economic turmoil. Bitcoin was also designed as a digital replacement for fiat currency and was hard-coded to include certain attributes that made it a deflationary asset, including digital scarcity.
11 years ago, we were given a more effective way to peacefully protest. pic.twitter.com/OANKpz6nWc
— Rhythm (@Rhythmtrader) January 3, 2020
At the time the Genesis Block was mined, Bitcoin was completely worthless, and no transactions had yet been made. It was nothing more than an experiment, ready to be released into the wild for the very first time. Now, it’s the best investment of the past decade.
Nakamoto selected Cypherpunk Hal Finney to receive the very first Bitcoin transaction. Finney, now deceased, was often believed to actually be Bitcoin’s creator and the person behind the Satoshi Nakamoto pseudonym.
Satoshi spent the first couple years of Bitcoin’s existence supporting the development of the project, but in 2010 disappeared without so much as a trace. The mysterious creator of Bitcoin is said to have more than 1 million of the 21 million BTC to ever exist, and if the person is deceased or incapacitated in some way, that BTC could be considered as supply that’s lost and locked away forever.
To this day, individuals regularly claim to be Satoshi Nakamoto and the creator of one of the most disruptive, world-changing pieces of technology to ever exist, however, there’s never been any validity to the claims.
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Today, Bitcoin trades at prices over $7,000 up from being virtually worthless. Whether or not society continues to adopt the technology in favor of aging fiat currencies remains to be seen, but someday, the cryptocurrency could be worth as much as $1 million per BTC – especially if it ever unseats fiat as it was intended to.
Happy Birthday, Bitcoin! Here’s to another year. The post appeared first on NewsBTC. origin »
Block's Bitcoin integration could revolutionize digital payments, enhancing transaction speed and cost-efficiency for global businesses.
The post Jack Dorsey’s Block to bring Bitcoin payments to Square, with full rollout set for 2026 appeared first on Crypto Briefing.
Bitcoin mining farms are starting to prepare for the 2024 scheduled Bitcoin block halving event by pouring massive sums of investments into beefing up their operations. While top analysts like Peter Brandt believe the Bitcoin block halving is a lot of excitement over nothing, heavyweight mining farms seem to have other thoughts as they look […]
The post Bitcoin Mining Farms Beef Up Operations Ahead of Next Block Halving, But Is This Decentralized Project With $6.
Bitcoin mining company Marathon Digital (MARA) has mined an invalid Bitcoin block at height 809478, according to several developers, miners and researchers.
The Bitcoin block rewards are becoming lesser and lesser with each halving. Will transaction fees eventually be able to fill up this void? Bitcoin Transaction Fees Has Been Trending Up With Each Cycle One of the most innovative features of the Bitcoin blockchain is that approximately every four years, the block subsidy (that miners receive […]
Bitcoin block space recently dropped to around 200 million.
Bitcoin miner revenue also declined to around 2%.
Bitcoin [BTC] miners have encountered a whirlwind of events that shaped their feThe post Bitcoin miners face uncertain future as block space declines appeared first on AMBCrypto.
“Bitcoin’s Journey: Approaching Block 800,000 and the Countdown to the Next Reward Halving The Bitcoin network recently marked the significant milestone of reaching block 800,000, leaving only 40,000 blocks remaining until the next reward halving event.
Today, Bitcoin celebrated an epic milestone with the mining of Block 800,000, marking a momentous occasion in the first cryptocurrency’s history. James Check aka Checkmate, lead on-chain analyst at Glassnode, took to Twitter to share some intriguing insights into the Bitcoin network’s progress up until this point.
Bitcoin’s value slid below the $30,000 mark as the Securities and Exchange Commission (SEC) signals an impending block on spot Bitcoin exchange-traded funds (ETFs), according to a report by the Wall Street Journal.
Block size growth driven by Ordinals inscriptions and BRC-20 impacts the Bitcoin network.
Bitcoin mining fees witnessed a historic rise as mining difficulty increased.
In recent days, the riThe post Deciphering the link between Bitcoin's [BTC] block sizes and miner fees appeared first on AMBCrypto.
The cryptocurrency space has been buzzing this week with BRC-20 tokens' market cap exceeding $500 billion, fueled by the rise of Ordinals earlier this year. CryptoSlate reported an unusual phenomenon: Bitcoin miners receiving more income from transaction fees than block rewards.
Yesterday was Genesis Block day which is also known as the “birthday of Bitcoin,” the oldest (surviving) cryptocurrency according to Investopedia. On January 3, 2009, Bitcoin’s mystery creator Satoshi Nakamoto mined the first BTC block, marking the beginning of the digital currency’s 14-year lifespan.
Exactly 14 years after Bitcoin was born through the Genesis block, Proof of Keys Day helps us remember why the protocol was invented and where we are today.
A report by Block Inc, in conjunction with Wakefield Research, detailed several interesting findings concerning Bitcoin.
The post Block Inc. report suggests Bitcoin is the people’s currency, but with a twist appeared first on CryptoSlate.
Among Block’s initiatives to further the Bitcoin ecosystem shared in its 2022 Investor Day is the development of an open-source bitcoin mining ASIC chip.
Bitcoin’s fixed supply makes it a possible good inflation hedge, according to pundits. By 2140, mining blocks will no longer yield a block reward. John Cantrell believes that the hash power generated would still be enough to secure the network.
At the start of May, Bitcoin experienced its latest block reward halving. This event saw the number of BTC issued per block cut in half from 12. 5 coins to 6. 25, meaning that there is less supply to satisfy demand.
Популярная биржа цифровых активов Coinbase – торговая платформа, в стенах которой содержится наибольшее количество bitcoin в криптопространстве. К такому выводу пришел аналитик The Block Ларри Чермак.
The much-awaited Bitcoin block reward halving has been successfully completed on 11 May at the 630,000th block. As the F2pool miners took the last block reward of 12.5 BTC, the spot price witnessed grThe post Hours into halving, Bitcoin network holds the fort unlike Bitcoin Cash and Bitcoin SV appeared first on AMBCrypto.
May 11, 19:23 UTC saw Chinese-based miner Antpool produce block 630,000 on the Bitcoin network, triggering Bitcoin’s third halving that drops block rewards from 12. 5 BTC to 6. 25 BTC The 2020 halving, happening in circumstances reminiscent of the 2008 financial crisis, cuts mining rewards by 50%.
Block halvings, which happen every four years, form a key component of bitcoin’s code. Every 10 minutes, a miner on the bitcoin network receives a pre-set number of newly-created bitcoins after solving a given cryptographic block puzzle.
On May 9th, 2020, the 630,000th Bitcoin block will be mined, during which mining rewards will get cut in half to 6. 25 BTC per block. And typically, speculation on how this will affect the Bitcoin price is rife.
A Deep Dive on Bitcoin and Fiat. The SEC wants to regulate Bitcoin with star ratings and Bitcoin gets 1 star. The Feds are injecting hundreds of billions diluting the US Dollar. We cover what happened when Venezuela’s economy crashed and how that could happen in the US.
One of the largest points of contention in the Bitcoin community surrounds the question of block sizes. Larger blocks mean faster transactions and less congestion, but they have higher requirements in storage and bandwidth.
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Bitmain-owned mining pool Antpool appears to have squandered at least $150,000 worth of Bitcoin mining rewards, reports BitMEX Research, the analytic arm of cryptocurrency exchange BitMEX. At 14:35 UTC, June 10, the Bitcoin network rejected a block after it had been mined, which effectively cancelled the 12.
Recently, Bitcoin users discovered that many 2 MB blocks were showing up as a result of SegWit adoption and a resulting increase in block capacity. Throughput on the Bitcoin network went from three transactions per second to seven transactions per second for these select blocks.
The Bitcoin community eagerly awaits the raging bull market; however, the pump in its price occurs under suspicious circumstances. Bitcoin Block Bot, which alerts the community of massive Bitcoin movements caught wind of a shady pattern.
A block explorer is a tool that enables cryptocurrency users to search addresses, balances, blocks, and transactions so they can verify all activities on the network. Bitcoin. com offers a BCH explorer, helping you to keep track of your coins.
One of the major issues recently debated on by the Bitcoin [BTC] community is the aspect of security that is attached to the fear of declining block rewards. Rusty Russell, Contributor at Blockstream, recently stated that there was genuine concern about Bitcoin’s security as the subsidy was reduced from block creation.
In 2017, a veritable civil war was fought between camps of Bitcoin believers: those who sought to keep its “block size” at 1MB, and those who wanted to increase it. Those looking for bigger blocks found themselves rallying behind a then-new cryptocurrency – a “hard fork” of Bitcoin called Bitcoin Cash (BCH) – whose premise rested on re-creating Bitcoin to mine 8MB blocks.
Think you know the ins-and-outs of bitcoin? Test yourself with 30 questions that grill you on Bitcoin’s history, technology and politics. The 30 questions are split up into three segments ranging from novice to intermediate to expert, and cover a wide range of topics across the Bitcoin landscape.
Monday’s segment of CNBC Cryptotrader entitled ‘The Future of the Utility Token,” one of the guests made a bold prediction on the crypto market. Kira Sun, an investment manager at China-based blockchain investment firm Block VC, stated that he believes the bear market on Bitcoin to be at an end, but that altcoins will take […]
The post China VC Says Bear Market Over for Bitcoin, but Altcoins Have 200 Days Left appeared first on CryptoSlate.
Several Chinese researchers from Fudan University, Tsinghua University and the University of California Riverside have produced the first systematic study of the malicious mining of cryptocurrencies, known as cryptojacking, unveiling increasing complexity over time.
Over 30 years after creating eCash, a predecessor of bitcoin and other cryptocurrencies which spawned the Cypherpunk movement of the 1980s, Dr. David Chaum is back in the public eye with a claim of having invented “the world’s fastest cryptocurrency.
For well over a year, versions of Bitcoin Core — Bitcoin’s leading software implementation — contained a severe software bug. The bug was fixed with Bitcoin Core 0.
US-based crypto exchange Kraken announced a major expansion to its over-the-counter (OTC) trading services. The announcement hints a set of ultracompetitive advantages to institutional investors and wealthy individuals looking to invest in large block trades without giving specific details.
Bitcoin and cryptocurrency exchange Kraken today announced an expansion of its OTC trading platform which to enhance execution of large block trades for clients. Kraken OTC will offer hi-touch service at every step of a transaction ranging.
Bitcoin wallets that had been dormant for over 14 years suddenly reactivated, moving more than 80,000 BTC. According to Lookonchain, two Bitcoin (BTC) wallets dating back to 2011 sprang to life and transferred 20,000 BTC each, as a Satoshi-era holder…
Arkham’s on-chain monitoring detected a suspected transfer of $20,000 in BTC to Satoshi Nakamoto’s address. This is the latest transfer made to Satoshi in the past four months. According to on-chain data from Arkham Intelligence, an unknown address sent 0.185…
In a 2010 Bitcointalk forum post, Hal Finney, a cypherpunk involved in Bitcoin from day one, described the way he sees the emergence of Bitcoin banks in the future. He believed that peer-to-peer Bitcoin transactions would be rare. Instead, people…
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KindlyMD, an integrated healthcare services provider, has announced the purchase of 21 Bitcoin ahead of its merger with Nakamoto Holdings, a company focused on the acquisition and holding of Bitcoin.
With over 621,000 BTC under management, BlackRock now sits just below Satoshi Nakamoto as the largest Bitcoin holder. As Bitcoin (BTC) quietly slips further into the grip of institutions, one asset manager has gone from newcomer to near-mythical status, now…