On January 12, 2009, an event of great significance took place that would reshape the world of digital money. Using the Bitcoin network, the unknown inventor(s) of Bitcoin, known as Satoshi Nakamoto, completed the first transaction between individuals without a traditional intermediary.
At block 170, Satoshi Nakamoto, the creator, moved 10 Bitcoins to renowned computer scientist Hal Finney, marking Finney as the initial Bitcoin transaction recipient. Typical of those early days, this transfer incurred no transaction fees.
16 years ago marked the day when the initial Peer-to-Peer Bitcoin transaction took place, with Satoshi Nakamoto sending 10 Bitcoins to computer scientist Hal Finney. This groundbreaking transfer made Hal Finney the first individual to receive Bitcoin on the blockchain system.
— CoinGecko (@coingecko) January 12, 2025
Three days following the initial release of the open-source Bitcoin client online, there occurred the first transaction. On January 9th, 2009, Satoshi Nakamoto unveiled version 0.1 of the Bitcoin software. Among the early adopters was Finney, who quickly installed the software and engaged in discussions aimed at enhancing Bitcoin’s functionality.
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On Jan. 10, 2009, Finney made history with the first-ever Bitcoin-related tweet: “running Bitcoin.”
On January 3, 2009, the initial block of Bitcoin, often referred to as Block Zero, was mined by Satoshi Nakamoto. Just like subsequent Bitcoin blocks, it offered a reward of 50 Bitcoins; however, these coins cannot be used or spent.
16 years on
In 2009, Satoshi gifted Finney with 10 Bitcoins, which were initially valueless. However, due to market fluctuations, the equivalent value of those same 10 Bitcoins could now be worth tens of thousands of dollars.
Today, Bitcoin, first introduced sixteen years ago, has grown into a worldwide financial sensation, boasting a market value approximately equal to 1.84 trillion dollars.
Currently, at this moment, Bitcoin (BTC) had dropped by 1.45% over the past 24 hours to a price of $92,560. Earlier on Dec. 17, it reached an all-time peak of $108,268.
From my research perspective, in terms of Bitcoin pricing, this week offers a significant insight into the economy’s condition, following a robust jobs report last week that triggered a downturn in equities. The unexpectedly strong nonfarm payroll report has sparked worries among investors about potential cautiousness from the Federal Reserve regarding future monetary policies. This uncertainty casts doubt on the possibility of further interest rate reductions.
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2025-01-13 15:25