Bitcoin has now been operational for 14 years, an incredible achievement.
The genesis block was mined on January 3, 2009, at the height of the global financial crisis.
The enigmatic Satoshi Nakamoto, whose true identity is unknown, created the Bitcoin genesis block.
The genesis block was the first on the Bitcoin blockchain and heralded the start of a new era in decentralized digital money as well as the debut of what was possibly one of the most revolutionary ideas of the twentieth century.
The genesis block included 50 bitcoins, which were not spent because cryptographers predicted that they would be used as a prize for running nodes on the network. It also has an ancient newspaper headline from The London Times that says, “Chancellor on the verge of a second financial bailout.” This was interpreted as a remark on the broader state of money at the time, with banks being bailed out as a result of irresponsible banking activities.
It has been speculated that Satoshi used this header to express his dissatisfaction with the way big banks operated prior to the advent of cryptocurrencies, and how something like Bitcoin could render those same banks obsolete by providing decentralized solutions for financial transaction management.
Since its humble beginnings ten years ago, the Bitcoin blockchain has evolved dramatically, with the total number of blocks reaching 770,111. Bitcoin retains the market leader in digital currency trading.