Belated birthday wishes to Bitcoin

The 3rd of January 2016, marks seven years since Satoshi Nakamoto generated the first block of transactions resulting in the birth of Bitcoin.

This first block is known as the ‘genesis block’ and is the foundation of all subsequent blocks in the blockchain. This block is subject to special treatment as there are no previous blocks to reference. Read my post here for more info on blockchain.

The reward for mining the block was 50 bitcoins. Interestingly, these coins are not spendable as the transaction was not added to the global transaction database so all nodes on the network will reject it. If you love useless trivia, then you need to know that the first bitcoins went to address:

  • 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

So, happy birthday to our beloved cryptocurrency… albeit a day late!

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