Birth of Bitcoin

Grand Time
Jan 8, 2023

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Bitcoin turned 14 years old.

January 3, 2009 can be considered the birthday of the first cryptocurrency.

Then the genesis-block was extracted, which contains the date and a short excerpt from The Times magazine article: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”.

On October 31, 2008, the creator of bitcoin, known as Satoshi Nakamoto, published a technical document entitled “Bitcoin: a peer-to-peer electronic payment system”.

However, the network of the first cryptocurrency actually started working only three months later, when Satoshi mined the first block.
The genesis-block was mined on a small server in Helsinki.
The reward for its extraction was 50 bitcoins.
The first transaction on the bitcoin network occurred a few days later.

And already on January 12, 2009, 10 BTC were sent from Satoshi Nakamoto to developer Hal Finney in block 170.

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Grand Time
Grand Time

Written by Grand Time

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