Thirteen years since the first Bitcoin transaction

Thirteen years ago, on January 12, 2009, Bitcoin’s creator Satoshi Nakamoto sent the first transaction in the cryptocurrency, transferring 10 BTC to cryptographer Hal Finney.

✨ 13 years ago today, Satoshi Nakamoto sent the world’s first #Bitcoin transaction.

700 billion transactions since, none as historic pic.twitter.com/ypyqxeIVDQ

— RIZZO (@pete_rizzo_) January 12, 2022

“700 billion transactions since then, none as historic,” wrote Bitcoin Magazine columnist Pete Rizzo.

Hal Finney played a pivotal role in Bitcoin’s history, and, according to one account, was the creator of the cryptocurrency.

The first transaction of digital gold was confirmed in block #170. The value of the cryptocurrency received by Finney was virtually zero, noted Rizzo.

At the time of writing, Bitcoin trades at around $42,700, with a market capitalization above $808 billion (CoinGecko).

According to Finney’s confession, he mined several blocks on his personal computer. Since then, crypto mining has evolved into an industry in which specialized high-performance devices are used, and the network hash rate exceeds 170 EH/s (Glassnode).

However, solo mining continues. On January 11, 2022, an unknown miner mined block #718 124 with a hashing power of 126 TH/s. The probability of this event was less than 0.0001%. They received a reward of 6.25 BTC. In 2009, the reward for mining a block was 50 BTC — the reward halves roughly every four years.

Back in December 2021, miners mined 90% of Bitcoin, and the cryptocurrency’s emission cap of 21 million coins is expected to be reached in 2140.

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