Topic: 14 years ago today, the first Bitcoin was mined. (Read 462 times)
The question is do you still believe in Bitcoin and Cryptocurrency?
Bitcoin remains the first cryptocurrency to be recognised, as well as the first cryptocurrency to become successful among the thousands of cryptocurrencies that exist today.
I think your original assertion was correct. The word "cryptocurrency" was first used to describe Bitcoin, and one of a cryptocurrency's core components is the blockchain, which didn't really exist before Bitcoin. Interestingly, this is the first reference to it I can find on the forum (Satoshi didn't use it in the white paper or on the P2P Forum):
Welcome to the Bitcoin Forum and to Satoshi's Bitcoin Project !
You can introduce yourself and ask questions here if you want to.
Please remember that there will only ever be 21,000,000 bitcoins created !
If you decide that the Bitcoin P2P Cryptocurrency is not for you and you have generated bitcoins. Please try to send / donate them to another Bitcoin user before you abandon the project and uninstall the software application.
You can send these donations to NewLibertyStandard or BitcoinFX (myself) or to any other bitcoin address or bitcoin IP which is shown on this forum. Also, try to confirm that the address is still valid and in use.
Thanks.
Regards,
BitcoinFX. ( A fellow Bitcoin user and enthusiast )
You can introduce yourself and ask questions here if you want to.
Please remember that there will only ever be 21,000,000 bitcoins created !
If you decide that the Bitcoin P2P Cryptocurrency is not for you and you have generated bitcoins. Please try to send / donate them to another Bitcoin user before you abandon the project and uninstall the software application.
You can send these donations to NewLibertyStandard or BitcoinFX (myself) or to any other bitcoin address or bitcoin IP which is shown on this forum. Also, try to confirm that the address is still valid and in use.
Thanks.
Regards,
BitcoinFX. ( A fellow Bitcoin user and enthusiast )
This post was written back before BTC really had any value at all.
Here's a reference to it as the first time the term was used in an old discussion:
I think the term "cryptocurrency" will come back to bite us someday, but Satoshi has already used it publicly, it is a coined word with no prior usage, and it works.
Satoshi may have coined "cryptocurrency", and "crypto currency" has been in use for decades.
Finally, here is the first time that Satoshi himself used it (he may have also used it previously on the "old" Bitcoin Forum but I can't find any references to it):
Announcing version 0.3 of Bitcoin, the P2P cryptocurrency! Bitcoin is a digital currency using cryptography and a distributed network to replace the need for a trusted central server. Escape the arbitrary inflation risk of centrally managed currencies! Bitcoin's total circulation is limited to 21 million coins. The coins are gradually released to the network's nodes based on the CPU power they contribute, so you can get a share of them by contributing your idle CPU time.
...
...
I'm not sure if this is the first time I've heard of eCash, or if I've heard about it before but didn't understand it as well as I do now. Given that eCash failed to take off as a digital currency, the inventor can be credited as the father of digital currency because he was the one who initially had the idea and proposed it, but he couldn't get it to take off and work. Bitcoin remains the first cryptocurrency to be recognised, as well as the first cryptocurrency to become successful among the thousands of cryptocurrencies that exist today.
David Chaum may have invented the concept of digital currency, but Satoshi Nakamoto perfected it. He solved the "double spending" problem, plaguing eCash in the early days. The latter project became a failure, while Bitcoin became a widespread success. Funny thing, we now have a fork of the Bitcoin Cash blockchain with the exact same name of David Chaum's digital currency (eCash). This is copyright infringement to say the least. Maybe Amaury Sechet and his team will make a rebranding if legal issues arise?
Anyways, I'm glad we now have a way to transact freely across the globe without any middleman. Without Bitcoin, we would've been "slaves" of the system powered by mainstream governments and banks alike. The idea of Bitcoin was to free ourselves from the middleman with a sovereign currency no one can control. BTC by itself is decentralized, but unfortunately, the market is not. CEXs dominate the industry, taking us back to the era of centralized banking. Who knows how Bitcoin will fare in the future? Just my thoughts
As opposed to this your reply, I just came across it now and feel the need to comment about it and make a correction. Bitcoin was the first cryptocurrency in existence before others came into existence. See;
Have you heard about eCash? eCash was invested in by David Chaum in 1982; it was a digital currency just like Bitcoin, and according to history, its purpose was a micropayment system. Also from history, David Chaum was the first to introduce the blockchain-like protocol, but Satoshi Nakamoto engineered the decentralised blockchain technology and invested in Bitcoin in 2009. Bitcoin became very successful because Satashi had a better idea and solution to a common problem that humans faced in the monetary aspect.Source
I'm not sure if this is the first time I've heard of eCash, or if I've heard about it before but didn't understand it as well as I do now. Given that eCash failed to take off as a digital currency, the inventor can be credited as the father of digital currency because he was the one who initially had the idea and proposed it, but he couldn't get it to take off and work. Bitcoin remains the first cryptocurrency to be recognised, as well as the first cryptocurrency to become successful among the thousands of cryptocurrencies that exist today.
Today, the genesis block, also known as the first bitcoin, was mined by Satoshi Nakamoto 14 years ago. Millions of blocks have been mined into the blockchain by bitcoin miners since the currency's creation. It was created as a substitute for centralized fiat money, which bitcoin is decentralized.
History indicates that the first block was mined almost instantly because it had a difficulty of 1. Unlike the vast majority of Bitcoin blocks today, the genesis block was almost certainly mined by a computer using its central processing unit (CPU).
As of June 2022, there were roughly 19.07 million Bitcoins in use. Accordingly, only 1.92 million Bitcoins are available for mining, and more than 90% of all Bitcoins are already in circulation. According to experts, the last bitcoins will be mined by 2140.
We still have a long way to go before we can completely mine the entire bitcoin blockchain. Despite the controversy, bitcoin is still prevailing and gaining global awareness, with the hope of being accepted globally in the coming years.
https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left/
https://learn.bybit.com/crypto/21-million-bitcoin-limit-mined/
History indicates that the first block was mined almost instantly because it had a difficulty of 1. Unlike the vast majority of Bitcoin blocks today, the genesis block was almost certainly mined by a computer using its central processing unit (CPU).
As of June 2022, there were roughly 19.07 million Bitcoins in use. Accordingly, only 1.92 million Bitcoins are available for mining, and more than 90% of all Bitcoins are already in circulation. According to experts, the last bitcoins will be mined by 2140.
We still have a long way to go before we can completely mine the entire bitcoin blockchain. Despite the controversy, bitcoin is still prevailing and gaining global awareness, with the hope of being accepted globally in the coming years.
https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left/
https://learn.bybit.com/crypto/21-million-bitcoin-limit-mined/
Interestingly, the block mining process has changed over the years, moving from the CPU to specialized devices called ASICs.
Bitcoin has also faced criticism regarding its volatility, the environmental sustainability of mining, and regulatory issues. While its future is still evolving, the fact that Bitcoin continues to influence the financial and technological world is undeniable.
hero member
Activity: 770
Merit: 538
Leading Crypto Sports Betting & Casino Platform
As opposed to this your reply, I just came across it now and feel the need to comment about it and make a correction. Bitcoin was the first cryptocurrency in existence before others came into existence. See;
Have you heard about eCash? eCash was invested in by David Chaum in 1982; it was a digital currency just like Bitcoin, and according to history, its purpose was a micropayment system. Also from history, David Chaum was the first to introduce the blockchain-like protocol, but Satoshi Nakamoto engineered the decentralised blockchain technology and invested in Bitcoin in 2009. Bitcoin became very successful because Satashi had a better idea and solution to a common problem that humans faced in the monetary aspect.
Source
As opposed to this your reply, I just came across it now and feel the need to comment about it and make a correction. Bitcoin was the first cryptocurrency in existence before others came into existence. See;
Quote
Bitcoin was the first cryptocurrency created and is now the most valuable and well known. It was first launched in January 2009 by a computer programmer or group of programmers under the pseudonym Satoshi Nakamoto, whose actual identity has never been verified.
Source: https://money.usnews.com/investing/articles/the-history-of-bitcoin
there will surely be many who will receive bitcoins in the coming years, and you can say that there will definitely be more, because the level of public awareness of bitcoins is increasing day by day.
because with bitcoin a lot of people are helped, especially in terms of the economy. and of course the most meritorious person in bitcoin is Satoshi, because he created bitcoin, so I want to thank Satoshi.
because with bitcoin a lot of people are helped, especially in terms of the economy. and of course the most meritorious person in bitcoin is Satoshi, because he created bitcoin, so I want to thank Satoshi.
Such a wonderful time, having bitcoin in my life is a great thing, I can't believe that it has been that long, I haven't been here for around 10 years but most of my adult life been in the bitcoin world and I am so happy about it. I believe that it should be quite important for anyone here to celebrate the birth of bitcoin because it is definitely something that could change our lives.
I know it's not that much of a big deal if you haven't made too much money yet, but at least you are in it, and many people are not. That's why you should celebrate the fact that you have something that most people don't, an understanding of how amazing bitcoin is and what kind of potential it gives to your life.
I know it's not that much of a big deal if you haven't made too much money yet, but at least you are in it, and many people are not. That's why you should celebrate the fact that you have something that most people don't, an understanding of how amazing bitcoin is and what kind of potential it gives to your life.
Today, the genesis block, also known as the first bitcoin, was mined by Satoshi Nakamoto 14 years ago. Millions of blocks have been mined into the blockchain by bitcoin miners since the currency's creation. It was created as a substitute for centralized fiat money, which bitcoin is decentralized.
History indicates that the first block was mined almost instantly because it had a difficulty of 1. Unlike the vast majority of Bitcoin blocks today, the genesis block was almost certainly mined by a computer using its central processing unit (CPU).
As of June 2022, there were roughly 19.07 million Bitcoins in use. Accordingly, only 1.92 million Bitcoins are available for mining, and more than 90% of all Bitcoins are already in circulation. According to experts, the last bitcoins will be mined by 2140.
We still have a long way to go before we can completely mine the entire bitcoin blockchain. Despite the controversy, bitcoin is still prevailing and gaining global awareness, with the hope of being accepted globally in the coming years.
https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left/
https://learn.bybit.com/crypto/21-million-bitcoin-limit-mined/
History indicates that the first block was mined almost instantly because it had a difficulty of 1. Unlike the vast majority of Bitcoin blocks today, the genesis block was almost certainly mined by a computer using its central processing unit (CPU).
As of June 2022, there were roughly 19.07 million Bitcoins in use. Accordingly, only 1.92 million Bitcoins are available for mining, and more than 90% of all Bitcoins are already in circulation. According to experts, the last bitcoins will be mined by 2140.
We still have a long way to go before we can completely mine the entire bitcoin blockchain. Despite the controversy, bitcoin is still prevailing and gaining global awareness, with the hope of being accepted globally in the coming years.
https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left/
https://learn.bybit.com/crypto/21-million-bitcoin-limit-mined/
I've never expected a digital currency without a central authority to get this far. At least, that's what I've thought in my early days. Now that Bitcoin has survived for 14 years, I think it will eventually replace Fiat as the global medium of exchange (or at least make a huge impact over the global economy). With a deflationary mechanism built onto the blockchain, BTC should go up in price over time. It's the future of money after all.
If Bitcoin has achieved a lot in just 14 years, imagine how big it will become within 1 to 2 decades from now. It could reach a level of mainstream usage beyond compare. Who knows what surprises will BTC come up with each block reward halving? Just my thoughts
Many people hope that there are able to buy Bitcoin when its market price is still low without considering its low potential before. To those people who has the same mindset; just think of why there were people who traded their Bitcoin to a pizza, a man lost his hard drive containing huge amount of Bitcoin, and stories of the like. Simply because they were in doubt of this technology before and we cannot blame them.
I don't think that Laszlo Hanyecz (the guy who bought pizza with bitcoin) should be in the group of people who were in doubt of bitcoin, or that is the reason he got rid of it easily. If anything, he is one of the very first adopters as he actually used bitcoin for buying something tangible (and what's more tangible than food) proving that it is a real money. Without those who were using huge amount of bitcoin for now seemingly insignificant stuff, 99% of us would never hear about bitcoin and would not be here today. I agree, Laszlo never question or doubt bitcoin, he even has conversation with Satoshi himself. If something that he did was that he prove that bitcoin can be used as payment scheme. And if we have to listen to his interview, he doesn't regret anything as most of us have felt for him. He did his part, and now 14 years later, bitcoin is very known and that's what he wanted to achieved when he bought that Pizza, and as others says, the rest is history.
Time flies so fast and by the next 14 years or so, we might have seen the "almost all bitcoin has been mined".
hero member
Activity: 770
Merit: 538
Leading Crypto Sports Betting & Casino Platform
OP this thread belong to the board (Mining) https://bitcointalk.org/index.php?board=14.0 by the way, we really thank Satoshi Nakamoto for using his extraordinary knowledge to create the new technology in the world for the benefit for all. The 14 years of mining of some individuals and companies have benefited enough. We have the privilege to have Satoshi in this generation.
On this thread, the OP is just trying to describe when the first Bitcoin genesis block was mined and the amount of bitcoin in circulation as of June 2022. OP is only reminding some of us here that
If the thread is supposed to be for the mining board, then let the moderator make the final decision. But IMO, this thread is okay on this board.
Some newbies and memebers don't visit the mining board, so I see the advantage of keeping the thread here because a lot of memebers visit this board frequently.
Bitcoin was not the first crypto, but it is now the most valuable coin in blockchain technology and the first to be accepted as a means of payment. Happy birthday to Bitcoin, the father of all coins!
OP this thread belong to the board (Mining) https://bitcointalk.org/index.php?board=14.0 by the way, we really thank Satoshi Nakamoto for using his extraordinary knowledge to create the new technology in the world for the benefit for all. The 14 years of mining of some individuals and companies have benefited enough. We have the privilege to have Satoshi in this generation.
Sorry if I mistakenly posted it on this board. I only felt that because this is about bitcoin's invention when it was first mined, it would be okay to discuss bitcoin on this 'bitcoin discussion' general board.
Not only is this not true, but you contradict yourself by both calling it centralized fiat money and then immediately saying it is decentralized. Fiat money is NOT decentralized.
This was a typo error, thanks for the correction.
And 14 years ago today, the legendary king, the phenomenon, the one and only, BTC aka bitcoin was first, born. What a journey BTC have made to reach here. We all should be proud to be a part of this community.
I am sure in the next year in this same day we will see BTC at a very different position. Moon, we are coming.
I am sure in the next year in this same day we will see BTC at a very different position. Moon, we are coming.
Many people hope that there are able to buy Bitcoin when its market price is still low without considering its low potential before. To those people who has the same mindset; just think of why there were people who traded their Bitcoin to a pizza, a man lost his hard drive containing huge amount of Bitcoin, and stories of the like. Simply because they were in doubt of this technology before and we cannot blame them.
I don't think that Laszlo Hanyecz (the guy who bought pizza with bitcoin) should be in the group of people who were in doubt of bitcoin, or that is the reason he got rid of it easily. If anything, he is one of the very first adopters as he actually used bitcoin for buying something tangible (and what's more tangible than food) proving that it is a real money. Without those who were using huge amount of bitcoin for now seemingly insignificant stuff, 99% of us would never hear about bitcoin and would not be here today. 
Happy birthday Bitcoin, I didn't buy you on time and I'm very sorry about it
Don't waste your time feeling sorry and thinking "what if" and instead focus on acquiring bitcoin. You probably won't get filthy rich, but for sure its not too late to buy now, especially since current price is far from all time high. I did similar mistake back in early 2014, thinking (wrongly of course) that I was too late and instead buying 0.1 bitcoin I spent few hundreds of dollars on shitcoins instead. Fortunately, later on i realized my mistake but I never look back thinking about it (unless I see posts like yours) and instead I feel fortunate that I am buying bitcoin on the regular basis in the last 6 years which proved to be a very good move.
Happy birthday Bitcoin, I didn't buy you on time and I'm very sorry about it
Don't waste your time feeling sorry and thinking "what if" and instead focus on acquiring bitcoin. You probably won't get filthy rich, but for sure its not too late to buy now, especially since current price is far from all time high. I did similar mistake back in early 2014, thinking (wrongly of course) that I was too late and instead buying 0.1 bitcoin I spent few hundreds of dollars on shitcoins instead. Fortunately, later on i realized my mistake but I never look back thinking about it (unless I see posts like yours) and instead I feel fortunate that I am buying bitcoin on the regular basis in the last 6 years which proved to be a very good move.
Happy birthday Bitcoin, I didn't buy you on time and I'm very sorry about it
We still have a long way to go before we can completely mine the entire bitcoin blockchain. Despite the controversy, bitcoin is still prevailing and gaining global awareness, with the hope of being accepted globally in the coming years.
(....)
During its 14 years of existence, Bitcoin become a widely recognized and popular cryptocurrency, with a growing number of individuals using Bitcoin.(....)
Bitcoin has also faced significant controversy or regulatory challenges. Even lot of ups and downs these past few years, Bitcoin has continued to gain in popularity and acceptance.
Happy birthday, Bitcoin! You're one of the best inventions man has ever created! My gratitude goes out to Satoshi Nakamoto as well. Thank you so much for creating Bitcoin, and perhaps for letting it grow completely independent from you!
Anyway, I don't think Bitcoin was really created as a substitute for fiat money. It was there as an alternative. It wasn't there to completely replace fiat. It was created to provide the people a currency over which governments don't have power and control.
Anyway, I don't think Bitcoin was really created as a substitute for fiat money. It was there as an alternative. It wasn't there to completely replace fiat. It was created to provide the people a currency over which governments don't have power and control.
Jump to: