Bitcoin’s genesis block was mined 14 years ago


On January 3, 2009, a person or group of people under the pseudonym Satoshi Nakamoto launched/-and the main Bitcoin network by mining a genesis block with 50 BTC.

Its hash contains the title of the article “Chancellor on brink of second bailout for banks” British edition of The Times.


Shortly before the launch of the network, on October 31, 2008, was published white paper bitcoin.

The first transaction took place on January 12, 2009 – Satoshi Nakamoto sent 10 BTC to Hal Finney. Three days before, Bitcoin software version 0.1 was published.

The identity of Nakamoto and the motives for creating bitcoin still remain a mystery that is being tried to unravel in the crypto community and beyond.

One of the probable reasons for the creation of bitcoin was the global financial crisis that broke out in 2007-2008, accompanied by the collapse of the largest investment banks, a widespread decline in production, falling demand and prices for raw materials, rising unemployment and active state intervention in the economy.

In November 2021, the first cryptocurrency hit a new high at $69,000. At the time of writing, digital gold is trading around $16,74075.8% lower ATH. The capitalization of the market leader is $321.8 billion.

Happy Genesis Block Day!

Read more about the history of the creation of the first cryptocurrency and the possible identity of Satoshi Nakamoto on CryptoNewsHerald:

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