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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