12 years ago Satoshi Nakamoto gave life to Bitcoin when mining Genesis Block

The day Satoshi Nakamoto mined the block that starts Bitcoin’s blockchain, the main cryptomeda in the market, registered a new record above US$ 34 thousand

12 years ago the creator of Bitcoin, Satoshi Nakamoto, gave ‚life‘ to the first and currently the main cryptomeda in the market by mining the Genesis Block, the first blockchain of BTC.

Thus, on January 3rd 2009, Satoshi created the first Bitcoin Trader block and, together with the first block, attached the cover of the British newspaper The Times

„The Times 03/Jan/2009 Chancellor on brink of second bailout for banks“.

The first reward of 50 BTC blocks was for the address 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa , and although these bitcoins cannot be used, due to a peculiarity in the way the block is expressed in the code, it is believed that other outputs sent to this address can be spent.

But it is not known if Satoshi Nakamoto has the private key to this particular address, if any.

But was Bitcoin ‚born‘ even on January 3rd?

However, although the first block of Bitcoin was extracted with the date of January 3rd, 2009 there is a lot of speculation among cryptomedic experts that this was actually a ‚chosen‘ date by Satoshi and would not be the actual date on which the blockchain actually started.

Although the average time between the Bitcoin blocks is 10 minutes, the date/time stamp of the next block, i.e. block 1, is 6 full days after the Genesis block.

Some theories claim that Satoshi had been working on adjustments to the code and that there was already a previous ‚blockchain‘.

This way, after the tests done, Satoshi would have started the network a few minutes before making the public announcement on January 9th, 2009.

„The Genesis block was created offline, before the network was started — not least because it is hardcoded into the code of the software that implements the network. In his thesis Satoshi could have put any date he wanted in this block. That’s why inside it there’s a reference to the Times headline — to prove that it couldn’t have been before that date. At any time in the 5 days between the date of the Genesis block and the announcement email, Satoshi could have „put the network on the air“ — which, since he only had it on the network, means just double clicking there on BITCOIN.EXE on his computer. When exactly he did this, nobody knows for sure. So I assume it was just a few moments before the announcement email,“ said Marco Carnut, CTO of Z.Ro Bank.

But, like other mysteries, this is another one of the ’secrets‘ surrounding Bitcoin’s history, but regardless of them, what remains is that 12 years after its creation Bitcoin continues to grow stronger and stronger.

One of the proofs of Bitcoin’s potential was given exactly on the day of its anniversary when BTC broke another historical brand and was traded above US$ 34 thousand and more than R$ 180 thousand in Brazil.