First Bitcoin Transaction
The Bitcoin Genesis block was mined in early 2009, the first Bitcoin transaction took place on January 12. Who was the first BTC receiver? Track the history of Bitcoin with BTCMEX.
The Cryptoverse celebrates the Genesis block day on January 3 – the day when the first Bitcoin block or block 0 was nine by Satoshi Nakamoto in 2009. The block 0 contained 50 BTC, an unspendable amount of coins, and it took several more days for the developer to mine the block 1.
After the Genesis block creation, it took 6 days until the next block was mined on January 9, 2009. The same day, Nakamoto published the Bitcoin Core version 0.1 software on bitcoin.org. Bitcoin Core is the program that made both mining and peer-to-peer coin transactions possible.
Hal Finney – the first Bitcoin adopter – downloaded and started running the program on his computer the same day and tweeted about the software the next day, on January 10, 2009. “Running bitcoin”, – said his message.
Three days later, on January 12, the first Bitcoin transaction took place. Satoshi sent the first coins to Finney, who was the first to run the Nakamoto’s software and accepted 10 BTC from the creator.
The world knows Hal Finney as the first Bitcoin transaction recipient, a devoted cypherpunk activist, and the reusable proof-of-work system creator.
From the records of November 2008, it’s known that Hal Finney was the first who entered the conversation with Satoshi Nakamoto to support his “P2P e-cash” idea, which evolved in Bitcoin later on. Finney wrote at the time:
“Bitcoin seems to be a very promising idea. I like the idea of basing security on the assumption that the CPU power of honest participants outweighs that of the attacker.”
Finney described his initial involvement in Bitcoin later in the Bitcoin Forum post later in March 2013.
“When Satoshi announced the first release of the software, I grabbed it right away. I think I was the first person besides Satoshi to run bitcoin. I mined block 70-something, and I was the recipient of the first bitcoin transaction when Satoshi sent ten coins to me as a test. I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them.”
Later on, the speculations about Hal Finney being Satoshi Nakamoto arose. Find more about Nick Szabo and early Bitcoin adopters in Back to Crypto by BTCMEX.