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Author Topic: 14 years ago today, the first Bitcoin was mined.  (Read 456 times)
Ndabagi01 (OP)
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January 03, 2023, 09:27:06 AM
Last edit: January 04, 2023, 10:02:50 PM by Ndabagi01
Merited by Symmetrick (6), Ojima-ojo (3), KiaKia (3), Mr.suevie (3), uche6215 (3), Outhue (2), JoyMarsha (2), SOKO-DEKE (2), knowngunman (2), Merit.s (2), DdmrDdmr (1), Z390 (1)
 #1

Today, the genesis block, also known as the first bitcoin, was mined by Satoshi Nakamoto 14 years ago. Millions of blocks have been mined into the blockchain by bitcoin miners since the currency's creation. It was created as a substitute for centralized fiat money, which bitcoin is decentralized.

History indicates that the first block was mined almost instantly because it had a difficulty of 1. Unlike the vast majority of Bitcoin blocks today, the genesis block was almost certainly mined by a computer using its central processing unit (CPU).

As of June 2022, there were roughly 19.07 million Bitcoins in use. Accordingly, only 1.92 million Bitcoins are available for mining, and more than 90% of all Bitcoins are already in circulation. According to experts, the last bitcoins will be mined by 2140.

We still have a long way to go before we can completely mine the entire bitcoin blockchain. Despite the controversy, bitcoin is still prevailing and gaining global awareness, with the hope of being accepted globally in the coming years.



https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left/

https://learn.bybit.com/crypto/21-million-bitcoin-limit-mined/

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January 03, 2023, 01:52:47 PM
 #2

Today, the genesis block, also known as the first bitcoin, was mined by Satoshi Nakamoto 14 years ago.
Genesis block was mined on 2009-01-03 has a Coinbase message
Quote
EThe Times 03/Jan/2009 Chancellor on brink of second bailout for banks

The Times 03 Jan 2009


Quote
As of June 2022, there were roughly 19.07 million Bitcoins in use. Accordingly, only 1.92 million Bitcoins are available for mining, and more than 90% of all Bitcoins are already in circulation.
Blockchain explorer: https://www.blockchain.com/explorer/assets/btc
19,251,143 BTC was mined.

Quote
According to experts, the last bitcoins will be mined by 2140.
It is written in Bitcoin Wiki.

Quote
The supply will approach, but never reach, ₿21 million. Issuance will permanently halt c. 2140 at ₿20,999,999.9769

Controlled supply

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January 03, 2023, 02:00:23 PM
 #3

Happy 14th Birthday Bitcoin!!

Thank you Satoshi, wherever you may be Cool

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January 03, 2023, 02:41:41 PM
Merited by nutildah (2)
 #4

Insane that Bitcoin is still going strong 14 years later. No one could have imagined the level of influence Bitcoin has had on the world.

It truly was a game changer. Thanks Satoshi!



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January 03, 2023, 05:33:01 PM
 #5

Happy 14th Birthday Bitcoin!!

Thank you Satoshi, wherever you may be Cool

I had same thing to write Happy Birthday Bitcoin!!

As far as it's still early one still has enough time to invest with Bitcoin, I mean into Bitcoin and Cryptocurrencies

Thanks to Satoshi for bringing such digital goal to reality. Some other Cryptocurrencies can't withstand the heat and pressure, he is Bitcoin, come inflation, government policies, bitcoin keeps going stronger and better.

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January 03, 2023, 05:49:14 PM
 #6

Happy number #14, BTC!  Grin
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January 03, 2023, 06:13:05 PM
 #7

Bitcoin ages like wine and maintains its excellency during all these 14 years of existence. I have only to be thankful to Mr. Satoshi for creating and launching the cryptocurrency which revolutionized the world of finances, giving common people from the entire world the opportunity to transact money online without paying abusive taxes to banks and online payment platforms, besides being a powerful investment tool against the devalued fiat currencies we have access in our native countries. Happy 14 years old birthday, BTCitcoin! The best is yet to come!

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January 03, 2023, 06:41:55 PM
 #8

Today, the genesis block, also known as the first bitcoin, was mined by Satoshi Nakamoto 14 years ago. Millions of blocks have been mined into the blockchain by bitcoin miners since the currency's creation. It was created as a substitute for centralized fiat money, which is also decentralized.

Indeed we are very grateful for the great privileged we all got served through the Satoshi's research works that birth to bitcoin ehich was exactly mines today, he has done to the world what every generation will ever recognize and actualize, same way every miners has this great opportunity from mining bitcoin from across the world which has help improve lives and created many bitcoin mining rigs and establishements, congratulations to Satoshi Nakamoto.

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January 03, 2023, 06:44:09 PM
 #9

It has been 14 years full of achievements in various fields that contributed to the best possible use of technology and its employment to change the financial culture of individuals. In addition, the Bitcoin project opened greater horizons for investment and disengagement of peoples from the governments that drain them with the help of banks.

Thank you, Satoshi, wherever you are, and thank you for disappearing. Smiley

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Mate2237
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January 03, 2023, 07:08:15 PM
 #10

OP this thread belong to the board (Mining) https://bitcointalk.org/index.php?board=14.0 by the way, we really thank Satoshi Nakamoto for using his extraordinary knowledge to create the new technology in the world for the benefit for all. The 14 years of mining of some individuals and companies have benefited enough. We have the privilege to have Satoshi in this generation.

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January 03, 2023, 08:04:18 PM
 #11

Satoshi has done something very great to mankind for inventing btc 14yrs ago which has helped so many people to be financial free from third party it has also serve as a means of business for crypto traders and as become an asset in investors. Satoshi is indeed a financial freedom fighter. No matter all the economy challenges and criticism from anti-bitcoin,it still remains the most value than all other currencies including cryptocurrency and fiat currency.
HBD BTC.
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January 03, 2023, 08:06:41 PM
Last edit: January 03, 2023, 08:18:30 PM by DannyHamilton
 #12

Millions of blocks have been mined into the blockchain by bitcoin miners since the currency's creation.

This is not true at all. As of the moment that I'm writing this post, there have only been 770222 blocks mined into the bitcoin blockchain since the currency's creation.

centralized fiat money, which is also decentralized.

Not only is this not true, but you contradict yourself by both calling it centralized fiat money and then immediately saying it is decentralized.  Fiat money is NOT decentralized.

History indicates that the first block was mined almost instantly because it had a difficulty of 1.

This is not true. Even at a difficulty of 1 it likely took a while for the first block to be mined on a CPU. It was certainly not "instantly".

According to experts, the last bitcoins will be mined by 2140.

This is a bit misleading. It's impossible at this point to predict the exact date (or even the exact year) that the last fraction of new bitcoin will be mined. There's too much variability and too much time.  It will be somewhere around 2140 approximately, but it could be anywhere in a range of many months (or even a few years).  It is entirely possible that it could be a year or two earlier, or a year or two later.

We still have a long way to go before we can completely mine the entire bitcoin blockchain.

No. There is no "entire blockchain".  New blocks can always be created, forever (or at least for as long as people want to continue to use bitcoin and create blocks).
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January 03, 2023, 08:12:26 PM
 #13

Millions of blocks have been mined into the blockchain by bitcoin miners since the currency's creation.

This is not true at all. As of the moment that I'm writing this post, there have only been 770222 blocks mined into the bitcoin blockchain since the currency's creation.

centralized fiat money, which is also decentralized.

Not only is this not true, but you contradict yourself by both calling it centralized fiat money and then immediately saying it is decentralized.  Fiat money is NOT decentralized.

History indicates that the first block was mined almost instantly because it had a difficulty of 1.

This is not true. Even at a difficulty of 1 it likely took a while for the first block to be mined on a CPU. It was certainly not "instantly".

According to experts, the last bitcoins will be mined by 2140.

This is a bit misleading. It's impossible to predict the exact date (or even the exact year) that the last fraction of new bitcoin will be mined at this point. There's too much variability and too much time.  It will be somewhere around 2140 approximately, but it could be anywhere in a range of many months (or even a few years).  It is entirely possible that it could be a year or two earlier, or a year or two later.

We still have a long way to go before we can completely mine the entire bitcoin blockchain.

No. There is no "entire blockchain".  New blocks can always be created, forever (or at least for as long as people want to continue to use bitcoin and create blocks).

I like how you gave your point-by-point response on OP's post. Maybe, it will give him clarification on some matters towards bitcoin. But in any case, 2140 or earlier, it is only suggesting that most of us will not be here on Earth anymore when that happens. So wonder if btc will really live that long or will there be new technology that will arise and replace btc? Who knows?
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January 03, 2023, 09:29:59 PM
Merited by Ever-young (1)
 #14

It's amazing how time flies, today in the last 14 years digital currency which brought about new innovative technology was launched,,
Happy 14yrs to Bitcoin.

 
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January 03, 2023, 09:47:40 PM
 #15

The 14 years of mining of some individuals and companies have benefited enough. We have the privilege to have Satoshi in this generation.
What a time we are living in, just think about the people who adopt bitcoin from starting and understand its proper value. A lot of us also don't fully understand its proper value now but back in 2009 it was something very new and complicated.

Happy 19th Birthday to the first Bitcoin.
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January 03, 2023, 10:46:43 PM
 #16

Was surprised when I saw the news on one broadcast from a well known crypto Influencer who came into the space very early on.
So they would know and witness when all this occurred when it did.
14 years of bitcoin is a big deal and has been a part of many people's lives and many have known about it from an early age and probably transferred their first sending of it when they were quite young. As it is an easy task to do with the innovation we have all encountered with cryptocurreny's world wide usage.
Happy BTCirthday our favorite cryptocurrency coin!

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January 03, 2023, 11:00:40 PM
 #17

Happy BTCirthday BTCitcoin. <3

Too many lives were changed and as well as those that have been down. But let's count those lives that have changed for the best.

It's been a life changing opportunity or should I say a lifetime changing opportunity that it was invented and has a lot of use that we're enjoying today. Time flies really fast and soon, we'll talk about its silver anniversary.  Tongue

Thank you very much, Satoshi!

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January 04, 2023, 12:02:34 AM
 #18

Happy birthday, Bitcoin! You're one of the best inventions man has ever created! My gratitude goes out to Satoshi Nakamoto as well. Thank you so much for creating Bitcoin, and perhaps for letting it grow completely independent from you!

Anyway, I don't think Bitcoin was really created as a substitute for fiat money. It was there as an alternative. It wasn't there to completely replace fiat. It was created to provide the people a currency over which governments don't have power and control.

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January 04, 2023, 12:59:36 AM
Last edit: January 31, 2023, 10:55:47 PM by GreatArkansas
 #19

We still have a long way to go before we can completely mine the entire bitcoin blockchain. Despite the controversy, bitcoin is still prevailing and gaining global awareness, with the hope of being accepted globally in the coming years.
(....)
During its 14 years of existence, Bitcoin become a widely recognized and popular cryptocurrency, with a growing number of individuals using Bitcoin.
Bitcoin has also faced significant controversy or regulatory challenges. Even lot of ups and downs these past few years, Bitcoin has continued to gain in popularity and acceptance.

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January 04, 2023, 01:25:02 PM
 #20

Happy birthday Bitcoin, I didn't buy you on time and I'm very sorry about it
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