Tristan on Nostr: The Genesis Block occurred 16 years ago last week, below is my full newsletter on how ...
The Genesis Block occurred 16 years ago last week, below is my full newsletter on how far we have come since then in the world of #Bitcoin.
January 3rd is a special day in the world of Bitcoin. 16 years ago, on January 3rd, 2009 Satoshi Nakamoto mined ‘Block Zero,’ known today as the Genesis Block for the Bitcoin network. The Genesis Block was mined just 64 days after Satoshi introduced the Bitcoin white paper on October 31st, 2008.
When the Genesis Block was mined, it produced the first Bitcoin subsidy, which was deemed immovable and unable to be spent. The 50 Bitcoin mined in this first block have never been moved; the code of the Bitcoin network remains law.
Satoshi Nakamoto was not afraid of leaving behind “coincidences” or their thoughts. Remember the significance of the date chosen for their birthday? Every little note or coincidence left behind seems to be heavily calculated and correlated to the illness and debauchery of fiat currency. The Genesis Block was no different. Satoshi included a message in the block: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” This hidden message in the Genesis Block is an excerpt from a London Times headline from January 3rd, 2009. Many speculate, myself included, that this was another way Satoshi specifically aimed to spark a rebellion against fiat currencies and the power of the central banks.
The idea for Bitcoin was conceived during the fallout of the 2008 financial crisis, which occurred because of the nonexistent risk tolerance these centralized banks maintained and the massive bank bailouts that the government provided as their reward. Bitcoin aimed, and continues to provide, the common man with an escape from the failing fiat currencies that can be printed into circulation with the click of a button.
At the time of the Genesis Block, there was no price attached to Bitcoin. It was nothing more than an idea of a better future. It also took over five days after the Genesis Block was mined for block 1 to join the blockchain. It took four more days before the very first Bitcoin transaction occurred when 10 Bitcoin were transferred to the late Hal Finney. The legend of Hal Finney remains as he posted to Twitter two days after block 1 was mined that he was “Running bitcoin.”
16 years ago this was the state of Bitcoin. A seedling in a forest filled with predatory fiat currencies. A seedling that aimed to spark a movement to stand up against the clutches of fiat currencies and the destructive impacts of money printing. A seedling aiming to bring fairness and order to a system residing in a state of chaos where the “haves” always beat the “have nots.”
Today Bitcoin is more akin to the Redwood or Giant Sequoia trees reaching hundreds of feet in the air than any blossoming seedling fighting for survival. Today Bitcoin is in arms reach of $100,000 per coin and has a total market cap of around $2 trillion. Today Bitcoin is much less of an “idea” and much more of a certainty to be involved with an ever-increasing reach in all facets of our lives. Ideas always start somewhere. The good ideas persist and take over.
I believe it is an honor to have remembered what 2008 was like when there was no solution to the depths of fiat currencies. 16 years later I have supreme optimism and hope for the future as a result of the solution Satoshi gave us—Bitcoin. Based on the last 16 years, the next 16 years could continue to bring about transformational changes in how everyone stores their wealth and lives their lives.
Satoshi would be proud to see the growth Bitcoin has experienced since the Genesis Block occurred.
Satoshi would be proud to see how anti-fragile Bitcoin has become since the Genesis Block occurred.
Satoshi would be proud to see Bitcoin continuing to operate seamlessly since the Genesis Block occurred.
Satoshi would be proud to see the community of people around the world who recognize the problem Bitcoin aims to solve.
Bitcoin of course would not care about any of this because it only cares about producing the next block—a purpose it has executed flawlessly since that very first block was sparked. From the Genesis Block to now, Bitcoin has persisted and grown.
The future may be uncertain but with every passing block, Bitcoin becomes a little more certain.
Stack SATs.
January 3rd is a special day in the world of Bitcoin. 16 years ago, on January 3rd, 2009 Satoshi Nakamoto mined ‘Block Zero,’ known today as the Genesis Block for the Bitcoin network. The Genesis Block was mined just 64 days after Satoshi introduced the Bitcoin white paper on October 31st, 2008.
When the Genesis Block was mined, it produced the first Bitcoin subsidy, which was deemed immovable and unable to be spent. The 50 Bitcoin mined in this first block have never been moved; the code of the Bitcoin network remains law.
Satoshi Nakamoto was not afraid of leaving behind “coincidences” or their thoughts. Remember the significance of the date chosen for their birthday? Every little note or coincidence left behind seems to be heavily calculated and correlated to the illness and debauchery of fiat currency. The Genesis Block was no different. Satoshi included a message in the block: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” This hidden message in the Genesis Block is an excerpt from a London Times headline from January 3rd, 2009. Many speculate, myself included, that this was another way Satoshi specifically aimed to spark a rebellion against fiat currencies and the power of the central banks.
The idea for Bitcoin was conceived during the fallout of the 2008 financial crisis, which occurred because of the nonexistent risk tolerance these centralized banks maintained and the massive bank bailouts that the government provided as their reward. Bitcoin aimed, and continues to provide, the common man with an escape from the failing fiat currencies that can be printed into circulation with the click of a button.
At the time of the Genesis Block, there was no price attached to Bitcoin. It was nothing more than an idea of a better future. It also took over five days after the Genesis Block was mined for block 1 to join the blockchain. It took four more days before the very first Bitcoin transaction occurred when 10 Bitcoin were transferred to the late Hal Finney. The legend of Hal Finney remains as he posted to Twitter two days after block 1 was mined that he was “Running bitcoin.”
16 years ago this was the state of Bitcoin. A seedling in a forest filled with predatory fiat currencies. A seedling that aimed to spark a movement to stand up against the clutches of fiat currencies and the destructive impacts of money printing. A seedling aiming to bring fairness and order to a system residing in a state of chaos where the “haves” always beat the “have nots.”
Today Bitcoin is more akin to the Redwood or Giant Sequoia trees reaching hundreds of feet in the air than any blossoming seedling fighting for survival. Today Bitcoin is in arms reach of $100,000 per coin and has a total market cap of around $2 trillion. Today Bitcoin is much less of an “idea” and much more of a certainty to be involved with an ever-increasing reach in all facets of our lives. Ideas always start somewhere. The good ideas persist and take over.
I believe it is an honor to have remembered what 2008 was like when there was no solution to the depths of fiat currencies. 16 years later I have supreme optimism and hope for the future as a result of the solution Satoshi gave us—Bitcoin. Based on the last 16 years, the next 16 years could continue to bring about transformational changes in how everyone stores their wealth and lives their lives.
Satoshi would be proud to see the growth Bitcoin has experienced since the Genesis Block occurred.
Satoshi would be proud to see how anti-fragile Bitcoin has become since the Genesis Block occurred.
Satoshi would be proud to see Bitcoin continuing to operate seamlessly since the Genesis Block occurred.
Satoshi would be proud to see the community of people around the world who recognize the problem Bitcoin aims to solve.
Bitcoin of course would not care about any of this because it only cares about producing the next block—a purpose it has executed flawlessly since that very first block was sparked. From the Genesis Block to now, Bitcoin has persisted and grown.
The future may be uncertain but with every passing block, Bitcoin becomes a little more certain.
Stack SATs.