Topic: THE FIRST BITCOIN TRANSACTION: A Milestone in the History of Cryptocurrency (Read 219 times)

Man, who knew that this tweet is going to be a part of the history, people at that time are probably laughing or are giving Hal disdainful looks when he started doing this because the opposition and doubts in bitcoin at that time is probably at a really all time high and we never expected it to get to this point, I'm glad that I got to be a part of this and this only just cemented my belief in adoption in crypto, it's always the first ones that are doing the best at the long game.

By asking like that, they are pessimistic, not optimistic. They are pessimists about Bitcoin future now with such questions but by asking, they are ready to learn and change to become Bitcoin optimists.

Bitcoin provides us many things: chance to invest, chance to use its as a mean of SoV (Store of Value), mean of peer to peer transactions, mean of owning our own bank. On top of that, freedom, no dependence on central or commercial bank on security of our asset, is key.

Price is attractive for investors and one of reasons they spend money in Bitcoin investment but value and price won't exist if lack of other more fundamental things.

And yet some persons are still optimistic asking if it's actually the right time for them to get involved in Bitcoin thinking that maybe it has grown too much and has become too late for them, well anytime I see such conversation or discussions what I do is smile because as a Bitcoin enthusiast we don't see it current price as big but something that's way off from its starting point because I believe is still very young and getting involved is definitely never too late that's if you are not in doubt of the process.

From the first transaction to millions of transaction that have taken place since its existence. Indeed it is a true gem and if we sum all of the Bitcoin addresses based on transactions we would find out that there have been a lot of Bitcoin adoption in the world. Every day hundreds of new Bitcoin addresses and more are being generated which is a good sign that the transaction is growing.

You shown that you did not know what is Genesis Block.

Is the Bitcoin Genesis Block a block #170 on Bitcoin blockchain?
It's definitely not block #170.

The definition for Genesis block is very clear. It's the first block of a blockchain.
https://en.bitcoin.it/wiki/Genesis_block

So with Bitcoin blockchain, it's this block, block #0.
https://blockchair.com/bitcoin/block/0

I think you need to add a source to this topic, as the method of writing is similar to writing articles, and it is not allowed to publish articles without quoting or mentioning a source.

I looked up the transaction and found that it was -----> https://blockchair.com/bitcoin/transaction/f4184fc596403b9d638783cf57adfe4c75c605f6356fbc91338530e9831e9e16 and was worth less than a dollar.

Most definitely.

We can also say it was officially the first transactions, there may have been other transactions that were before the block 170, but as long as Bitcoin History is concerned, the Genesis Block (Block 170) remaims the first transaction ever made, amd just as youve said, the very proof that the prototype which Satoshi Nakamoto and Hal Finney spent several months working on was actually successful.

So It didn't really matter if there were other transactions before the block 170, as long as history didn't recognize them, they're not as valid as rhat which was acknowledged.

That's right, I would say the first transacción was involved in the Genesis Block, that was the real first transacción of the bitcoin history.

But the first peer to peer transacción was an importante part of bitcoin history too. It was the prove that bitcoin really works.

Yes, it has been all that and more, thanks to Bitcoin. And in alternative for the old days when people had to save their money, this is given them the freedom and ability to invest in new ways. It is decentralized and limited in a way, which in turn makes it rather appealing to people who do not wish to use centralized money and investments.

It has led to the creation of a whole new universe of cryptocurrencies and blockchain technologies! It’s like the ultimate disruptor! Therefore, it is not a surprise to see so many coming for it like bees to honey.

The real life effect is also felt with regard to people using Bitcoin. It has benefited many to invest and enhance their capital besides which they never could even imagine. And, it has provided a sense of safety as well as ownership of their financial resources, and this is worth more than any anything.

Bitcoin was not only a success, but what the people will always appreciates for coming to be, it has given many of us the financial freedom we have long hoped for, same way, it comes in with many diverse opportunities for it investment, which is part of the reason many could not resist it after it launch than to adopt and participate in the benefits of what it has come to offer the world at large.


We can take a different approach to the importance and relevance of bitcoin as long as it has been found to fit in as a solution to any area of our need in the financial economy.

You need to say it is a first peer to peer transaction because describing it as a first transaction is confusing, misleading and inaccurate. There are many blocks and transactions before the first peer to peer transaction between Satoshi Nakamoto and Hal Finney.

'The Bitcoin History Book 2008-2024'
https://drive.google.com/file/d/1M8z4M4oV4WC_aIGWkn-tO_T7Nkllj47C/view?usp=sharing

Payment No. 1: A Closer Look at the Very First Bitcoin Transfer

If you really want to know about him, you can check his post, Bitcoin and me (Hal Finney).

And this is the iconic tweet:



https://x.com/halfin/status/1110302988

Thoroughly, Bitcoin has become one of the valuable cryptocurrency in the world today. From the begin, no one knows that Bitcoin will eventually be what it is today. For those who has seen it as a store of value, I think it has been valuable enough for them.
The Bitcoin ecosystem has been know for it's uniqueness in decentralization and transparency. Thou the journey of Bitcoin was not an easy one, but today it's rocking the whole wide world.

Bitcoin today has become a technology enjoyed by so many, due to its underlying benefits to mankind today. Although different people has different perspectives of what bitcoin really is, some view it as a store of value, some means of exchange, some a way to facilitate their transactions, some know it for its decentralized nature and its transparency. But what's more important is that even with divers viewpoints and perspectives, Bitcoin since its creation till date has been really beneficial to mankind and society in divers ways, and yet not everyone who enjoy these benefits of Bitcoin knows how it all began.
Y'all fasten your seatbelt while we go on a little historical rollercoaster ride.

 THE FIRST TRANSACTION

On the 12th day of January, 2009, the first ever Bitcoin transaction was made, and this has went down as a revolutionary event in the history of cryptocurrency because that when it all started.
On the month of October 2008, the creator of Bitcoin Satoshi Nakamoto published Bitcoin's whitespace, where he promised to give the world a decentralized digital currency that would operate solely on its own without the interference of intermediaries like the bank or other Centralized financial institutions.
It took him several months to develop this awesome technology and after several months of development, the Bitcoin Network was finally ready and was launched on the 9th of January 2009, and he mined the first block which was named the Genesis Block.

And then 3 days after the launch, Satoshi  Nakamoto initiated the first ever Bitcoin transaction by sending 10 Bitcoins to a programmer who's name was Hal Finney, an enthusiast and also the one who had the same innovative spirit as Satoshi Nakamoto and also collaborated with him in the development of the amazing technology. This first transaction was to test the functionality of the bitcoin network, but it appears that wasn't the only purpose that first transaction served because it went down in the history of Cryptocurrency as the beginning and emergence of a decentralized P2P electronic cash system.
This 10 BTC transfer was recorded on the bitcoin Blockchain, a decentralized ledger where all transactions made on the network are being stored and the transaction's block number was 170, and it indeed was marked as a historical event in the history of Cryptocurrency.


The Block 170 has also went down in the history of cryptocurrency as a symbol of Bitcoin's humble beginning as well as it's potential for growth. Bitcoin today can be seen as more than just a digital payment system but has several other benefits to mankind, with millions of global users, Bitcoin is in fact the biggest cryptocurrency asset today with loads of benefits.