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11 years have passed since the first Bitcoin transaction!

The first Bitcoin transaction between Satoshi Nakamoto, who is thought to be the creator of Bitcoin, and computer programmer Hal Finney, took place exactly 12 years ago, on January 12, 2009. Finney received 10 BTCs (about $ 81,000 at the time of writing) and described the experience in a forum:

“When Satoshi announced the first version of the software, I immediately stuck to it. I think I’m the first person out of Satoshi to process Bitcoins. I mining something like Block 70; Satoshi sent me ten koins as a test. So I was the buyer of the first Bitcoin transaction. The next few days, I emailed Satoshi, mostly reporting bugs, and he corrected them. ”

“Running Bitcoin”

The first BTC transaction in history took place just one day after Finney’s “Running Bitcoin” tweet on January 11, 2009.

Unfortunately, the first Bitcoin tweet on Twitter can be deleted due to the social media giant’s new policies for inactive accounts.

In 2014, Finney lost the battle for amyotrophic lateral sclerosis (ALS) and died at the age of 58. Before he passed away, he wrote that he was pleased with the legacy he left behind:

“My bitcoins are in our safe; my son and daughter are knowledgeable about technology. They’re safe enough. I’m pleased with my legacy. ”

The real Satoshi?

Ten of the creation of Bitcoin
years later, the debate over Satoshi’s true identity continues.
There are many points that indicate that Finney is the true creator of BTC.
Someone who expressed the same views as Satoshi and took part in the first BTC transaction
In addition, the Newsweek article by mistake
Dorian Satoshi, known as Nakoshi, lived on the same street as Nakamoto.

But when Forbes correspondent Andy Greenberg asked Finney if he was the real Satoshi, Finney fiercely rejected it. Even if Satoshi is paralyzed at this point, it is possible that he wanted to avoid excessive media attention.

10 Million Dollar Bitcoin

Finney predicted that the BTC would be worth about $ 10 million per coin if it would be the dominant payment system. Blockstream CEO Adam Back, mentioned in Bitcoin white paper, claimed that such a large price target was not unrealistic given the growth of US inflation. He thinks the price of the best crypto currency could reach 10 million “in 10-20 years” due to “monetary frenzy”.

It’s closer than it sounds along the path of hyperbitcoinization, the USD inflation rises, eg aided by Modern Monetary Theory rationale for high inflation, so $ 1 becomes worth $ 10m over a decade or two of monetary craziness, then $ 10mil / BTC is $ 1 miles / BTC in today’s money.

– Adam Back (@ adam3us) January 11, 2020

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