Today is the 12th anniversary of the digging of the first block (aka genesis block) in the BTC network. That's when - just over a decade ago - the Bitcoin project took off in earnest. What was the beginning of BTC? To be honest, it is difficult to fully recognize January 3, 2009 as the only start of BTC. The formation of the cryptocurrency was a process. Recall that before that, Satoshi Nakamoto (yes, we still don't know who he is!) actually announced his manifesto, in which he described the ideas behind Bitcoin. However, it was 12 years ago that the first block with the first Bitcoins was dug up. Let's take another look at the dates. As we already mentioned, on January 3, 2009, the network of the most popular cryptocurrency in years was launched. A little earlier, on October 31, 2008, Nakamoto published a document explaining how his digital currency would work. However, the above is still not enough (which does not diminish the value of today's anniversary). For it should be remembered that Bitcoin was the result of years of research by crypto advocates or even economists. Cryptocurrencies are actually the dream come true of many circles - economists from the Austrian School or cypherpunks. On the occasion of this holiday, we recommend you our article on the genesis of Bitcoin, which you can find here. Block Genesis According to the data we can get via blockchain.info, the first block with the number #0 was dug exactly on January 3, 2009. The first transaction in the history of cryptocurrencies took place at 18:15 (server time) and guaranteed a reward of 50 BTC. Today, that would yield more than $1.7 million. Back then, practically nothing. Bitcoin was not part of the trade anywhere. It is worth mentioning that Satoshi Nakamoto waited as long as 6 days for another dug block with the number #1. Currently, bitcoin is not only skyrocketing in price. Yesterday it broke through the $30,000 level on the chart, and right now it costs more than $34,000. That's not all. The cryptocurrency has become part of pop culture, with the BTC theme appearing in top TV series (e.g. "Altered Carbon" - unfortunately, it was not given how much 1 BTC costs in this bleak, dystopian future), books or songs (the cryptocurrency was rapped about, for example, on one of Eminem's recent albums). There was also a boom in BTC among institutions in 2020. Many companies began to invest their reserve funds in cryptocurrencies. It all started with MicroStrategy, but Michael Saylor's company was also followed by such giants as Square, Guggenheim Partners, and Ruffer Investments. PayPal, which introduced crypto services for its customers in the U.S., certainly also made its contribution. Tags bitcoin genesis blockchain btc nakamoto
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