Topic: Bitcoin First Transaction? (Read 2962 times)

I had read somewhere that laszlo made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC. Then pizza seller "smokeTooMuch" auctioned 10000 Bluffton for $50 but unfortunately no one was there to buy those.

Oh I see you are a good Economist. You are probably trying to apply the concept of transaction as viewed by Economists which you are right but most people will not agree with you because they do not know much about Economics, right ?

the fist transaction the first minner
zero block until 170 block
i think this fist transaction the first minner create satoshi nakamoto

the very first UNSPENDABLE coinbase
https://blockchain.info/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
this is part of the genesis block and yes there are reasons it is unspendable as you say. (note 1A1 address unspendable note 12c address spendable)

but other coinbases for the other 400,000+ blocks are spendable
but other transactions for the other 400,000+ blocks are spendable

the first transaction was in block 170 https://blockchain.info/tx/f4184fc596403b9d638783cf57adfe4c75c605f6356fbc91338530e9831e9e16
hundreds of transactions (address to address) occurred after block 170, but
the first trade (known transaction for goods/services) was in block 57035 https://blockchain.info/tx/49d2adb6e476fa46d8357babf78b1b501fd39e177ac7833124b3f67b17c40c2a

after this point trades become more common and it became unknown due to no one advertising every trade, and so now we just deem a transaction and trade as the same thing and just call it a transaction.
again transaction involving 2 parties.
a coinbase does not involve 2 parties.

but this is more about "social interpretation" than anything technical

I do believe you may found the transaction on the same thread of the pizza, or do a bit research over google that should appear, anyway those history and first transactions made bitcoin born and become the biggest crypto currencie, and i do believe the biggest project online.

The pizza sale was the first transaction that used bitcoin as a payment for goods (food). Any idea/link to the actual transaction id?

i know this is digressing off the OP's question. and being pedantic, and that franky1 already knows about it, but the very first coinbase is not spendable due to a quirk in the Bitcoin code. Every coinbase after that is spendable so SmartIphone would consider the second block's coinbase as the first transaction.

However, I take the majority's view that the pizza sale was the first Bitcoin transaction.

i know this is digressing off the OP's question. i still think its worth mentioning to teach people

firstly: every new block has a hash which is the proof of validity. every new block contains a hash of the previous block
this means it does not need to validate every transaction of every previous blocks because the hash of a block is the proof of validity of said previous block.
chaining the blocks together (blockchain) by having each blockhash linked to the next block means, if the latest block validates then automatically the previous blocks are then more secure as it is more tightly locked in.

in short. if you wanted to change a transaction 10 blocks ago. you cannot just change the transaction and slide it in unnoticed.
changing a transaction results in a different blockhash, which doesnt match the one saved in the next block(9 blocks ago). so changing the saved hash in the next block, causes that blocks hash to change(8 blocks ago). and so on

meaning in order to change a transaction 10 blocks ago. while the network continues making new blocks
you need to go back and do your alteration. and then make a block with a new hash
then need to then remake the 9 blocks above it with their new hashes each time..
and then keep going for every new block that appeared while you were messing around, until you overtake the networks account of the newest block. which is not a simple task.

secondly: ~144 blocks are created a day. so you will get 1k confirms just waiting a week

every time a new block is created ontop. that block only validates the transactions within its own block. but adds a hash of the previous block
thus chaining the blocks together without having to revalidating previous blocks again.

in short if a new block is created. your full node software is not going to recheck every transaction of the last 432400 blocks.
its the hashes of the block that has already done the previous validation. and new blocks just continuing to link chains of the hashes ensuring everything is valid.
this link to a previous topic will explain
https://bitcointalksearch.org/topic/m.16369773

If that is only In your eyes then it's ok, but in my eyes every transaction is a real transaction.
And the first transaction should be counted that one from that address that I mentioned.

You could google it next time, however as stated in this thread the first transaction was from Satoshi to someone else, however I'm not sure what the purpose of the transaction was. For all I know it was just something to test everything and making sure it works properly.

WTF are you on about? all funds are spendable. all funds are real, no matter what date they were received
that address contains:
1 coinbase and 43 address to address transactions

a coinbase is spendable. but being a coinbase is not a transaction in my eyes. its why it was given the term 'coinbase' to separate it into a different terminology from regular transactions.

but as i said ALL the funds are spendable, all the funds are real.

Yeah i agree because i seen my old transaction to the present transaction they have different counted confirmation ..
But the question why this is happening.

franky1, what happens with the funds on this address https://blockchain.info/address/12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX ?
Since these funds are counted as coinbase transaction then these funds are not real or can not be spend even those funds that came after a year or more?

kind of
but here is my opinion:
a coinbase:
is not a transaction as its not a movement of funds, its a creation of funds.
EG the coinbase of every block is not a transaction.

a transaction:
involves spending/sending funds from one address to another.. even if its sending it to yourself for testing purposes its a transaction
even if its sending to another persons address for testing purposes its a transaction.
EG the first transaction was in block 170

a trade:
which involves a transaction that then results in goods/services in return offchain, is a trade
EG there were many 'testing' transactions after block 170 and before block 57035, but the first notable trade.. (publicly announced) transaction that results in goods/services in return offchain was the one i linked. in block 57035

however the buzzwords of trade vs transaction are now irrelevant because no one publicly announces what the purpose of a transaction is. so the word trade, has little to no meaning. and we just define it as the same now.

but in the context of the OP's question regarding bitcoin 'firsts' its best to try using more descriptive words to get the OP better answers

Yes Franky1, I want to agree with you on that one... a transaction in my opinion is not just the transfer of some bitcoin from one adress

to another. The value in the transaction for me, is if value is appended to the deal. You transferred bitcoin to someone and you received

something in return. { service or goods } A tx feels empty without some value changing hands. I know a lot of people would disagree with

me on this, but this is how I perceive it.  

every block has a "coinbase". which is the reward payment/ coin creation log. no "spending" occurs

however a transaction between two people "spending" funds. is different.
the first transaction to spend funds happened at block 170.

their were many other transactions since then. but the notable one where a transaction occured with a real world result of the spender getting pizza for their bitcoin happened here
https://blockchain.info/tx/49d2adb6e476fa46d8357babf78b1b501fd39e177ac7833124b3f67b17c40c2a

I have a question about this, does these bitcoin are real or not because seems that is the oldest transaction and as seen here https://blockchain.info/address/12c6DSiU4Rq3P4ZxziKxzrL5LmMBrzjrJX it should be real but still unspent!

So far for now i have no bitcoin transactions but maybe soon, if i have much bitcoins in my wallet maybe i will try to make transactions and im excited to try it 

IIRC most blocks after a block (if not every block) basically verifies the transaction and that's why older transactions can have insane amounts of verification under them. So if you really want to make sure that there was a secure transactions, just wait a few years and it should hit 1k confirmations pretty soon.

That's completely unnecessary, of course, however it's an interesting thought experiment.

My bitcoin first transaction was when I transferred my bitcoin from exchange platform going to the merchant who accepted bitcoin, were I can convert it into our currency here in my country. So far I didn't encounter any bad experience into it.