January twelfth is an important day for Bitcoin. On this day in 2009, Satoshi Nakamoto sent the first ever non-mined Bitcoin over the Bitcoin network to Hal Finney. From that time, the Bitcoin has drastically grown and evolved into a huge peer-to-peer payment system.
The primary non-mined Bitcoin transaction recorded on the blockchain was transferred from Hal Finney and Satoshi Nakamoto. Of course, a few people have speculated how Hal Finney is truly Satoshi Nakamoto, which has never been proven. What has been confirmed is how both entities have been involved in the first transaction on the Bitcoin network that did not come from a block reward.
Do not confuse this date with the birthday of Bitcoin, which takes place on January third of every 12 months. It took 9 days to see the primary peer-to-peer transaction take happened on the Bitcoin network. Analyzing things in hindsight, the transaction formed Bitcoin into huge payment system.
Hal Finney has been interested in cryptography and cryptocurrencies. During his life, he met a number of the experts in those sectors, which includes Nick Szabo and Wei Dai. Thinking about how each of those individuals created cryptocurrencies, which served as the constructing blocks for Bitcoin. It is Hal Finney got inquisitive about the cryptocurrency itself. He even grabbed the software as soon as it have become available for download.
Hal Finney mined with Satoshi Nakamoto in 2009, to check the Bitcoin consumer and reinforce the network. He became the primary recipient of a non-mined Bitcoin transfer once Satoshi Nakamoto transfer him 10 Bitcoins to check the payment system. As soon as the transaction completed, it allowed Hal Finney and Satoshi Nakamoto to further improve the Bitcoin customer and protocol.
Hal Finney was diagnosed with ALS not too long after he obtained the first non-mined Bitcoin transaction. In spite of the disease paralyzing him, he appeared to be very confident about the destiny of Bitcoin and cryptocurrency. Hal Finney stashed away some Bitcoins in a secure deposit container before his death, which shows he felt there has been a brilliant future for Bitcoin.
From those times, Bitcoin protocol has grown into something that borderlines a mainstream trend right now. More importantly, the number of each day Bitcoin transactions keeps moving up. Earlier this month, over 340,000 transactions have been tranfered in one day. The Bitcoin network keeps growing, that is an advantageous trend. It is good to keep in mind how things started, and evaluate it to where we’re now. However, without people like Hal Finney, Bitcoin could never have become as popular as it became nowadays.