Press "Enter" to skip to content

Why is January 3rd Important for Bitcoin?

This is where it all started! In 2009.

The now bloomed crypto world was started this very day 13 years ago. The very first block of Bitcoin – Genesis block – was mined on Jan 03, 2009. It was the first instance of the proof-of-work blockchain system.

It is the basis on which additional blocks of transactions are added to form a chain, hence the term blockchain. It is effectively the ancestor that every other block can trace its lineage back to since every block references the one preceding it.

This began the process of validating bitcoin transactions and introducing new bitcoins into existence.

Bitcoin Genesis block

This block has a 50-bitcoin reward that is unavailable forever. It is unclear, whether the Genesis Block reward was mined or not. Although the Genesis Block points to a web address—written into the Genesis Block’s code— that link displayed an error message when activated.

Kraken Exchange on Twitter: "On January 3rd 2009 Satoshi Nakamoto mined the  #Bitcoin Genesis Block ⛏️ Satoshi left a message in the code of this block: 𝐓𝐡𝐞  𝐓𝐢𝐦𝐞𝐬 𝟎𝟑/𝐉𝐚𝐧/𝟐𝟎𝟎𝟗 𝐂𝐡𝐚𝐧𝐜𝐞𝐥𝐥𝐨𝐫 𝐨𝐧 𝐛𝐫𝐢𝐧𝐤
The Times, dated January 03, 2009

Throughout the Genesis Block of Bitcoin, a message was written forever by Satoshi in history. In the coinbase transaction, with the usual block data, he added the following message: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”

Satoshi Nakamoto - Wikiwand
Raw Hex of the first bitcoin block. Source: Wikipedia

The text is a headline for an article in the January 3, 2009 edition of The [London] Times about the British government’s failure to stimulate the economy following the 2007–08 financial crisis.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts
Send this to a friend