[2016-01-03] Bitcoin Celebrates 7th Birthday

[coinzat]

It has now been 7 years since the birth of Bitcoin. On January 3, 2009 18:15:05 UTC, Satoshi Nakamoto generated Bitcoin’s first block of transactions (“Block #0″).

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The “genesis block” is the foundation of all subsequent blocks in Bitcoin’s blockchain, and as such, is subject to special treatment. There are no prior blocks to reference. The block’s mining reward of 50 bitcoins is not spendable.

The genesis block was mined during the peak of the 2008-09 financial crisis. Its hash, 000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f, is partially composed of the text, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”.

read the full article : http://www.financemagnates.com/cryptocurrency/education-centre/bitcoin-celebrates-7th-birthday/

[botany]

7 years is a short time period in the life time of a currency.
Bitcoin had its birth during the 2009 financial crisis, maybe it will win widespread acceptance during the next one.
Another global crisis seems just around the corner.