It’s been exactly 13 years since computer scientist Hal Finney became the beneficiary of the first Bitcoin transaction from creator Satoshi Nakamoto.
On January 12, 2009, when the Bitcoin (BTC) white paper was only three months old, Satoshi Feeney sent out 10 bitcoins – virtually worthless at the time, but now around $440,000. The move, which will likely serve as a test to determine the viability of the blockchain, was the first in a series of hundreds of millions of bitcoin transactions between millions of people around the world.
“When Satoshi announced the first release of the software, I immediately took it,” Finney said in a 2013 post on Bitcointalk.org. “I think I was the first to release Bitcoin other than Satoshi. I mined block 70 with something and was the recipient of the first bitcoin transaction when Satoshi sent me ten coins as a test. I continued my email chat with Satoshi. Over the next few days, I mostly reported bugs and he fixed them.” .”
Vinny was one of the first to respond to Satoshi’s message on the cypherpunk email list, and many in the room still believe he was one of those behind the creation of Bitcoin under a pseudonym. Unfortunately, the legendary pioneer of amyotrophic lateral sclerosis – ALS, also known as Lou Gehrig’s disease – passed away in 2014. He would have turned 65 in 2022.
At the time the first bitcoins were sent, there was not even a monetary value associated with the cryptocurrency pool, which has more than 701 million transactions on the blockchain as of January 8. One of the most well-known early uses — exchanging 10,000 bitcoins for two pizzas in 2010 — helped pave the way for cryptocurrency to eventually be adopted in many bars, restaurants, and even legal tenders across the country. …
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13 years ago, bitcoin and cryptocurrency were very experimental, untested, and little known. Today, regulators around the world are discussing how to handle the integration of digital currencies, stablecoins, and digital assets of central banks into their financial systems.
In 2035, thirteen years from now, there will likely be many blocks on the BTC blockchain that need to be redeemed. Some experts predict that the price of cryptocurrencies will reach $100,000 by 2022, with further growth likely in the coming years.