October 31, 2019 at 07:44PM
Today, Oct. 31, marks eleven years since the publication of the Bitcoin white paper by the still-mysterious person or group pseudonymously identified as Satoshi Nakamoto. Eleven years on, Bitcoin is consistently setting new records for its network hash rate — a measure of the overall computing power involved in validating transactions on the blockchain at any given time.
More power and participation establishes greater network security and attests to widespread recognition of the profitability potential of Bitcoin mining. As of the middle of this month, network data revealed that since the creation of the very first block on the Bitcoin blockchain on Jan 3, 2009 — known in more technical language as its “genesis block” — miners have received combined revenue of just under $15 billion.
The figure includes both block rewards — “new” bitcoins paid to miners for validating a block of transactions — as well as transaction fees, which broke the $1 billion mark this week. Bitcoin’s first-ever recorded trading price was noted on Mar. 17, 2010 — on the now-defunct trading platform bitcoinmarket.com, at a value of $0.003.
The cryptocurrency’s appreciation thus stands at a staggering 304033233% as of press time, with Bitcoin currently trading at $9,120. As of this August, 85% of Bitcoin’s supply in circulation had been mined — leaving just 3.15 million new coins for the future. Eleven years on, the mystery enshrouding the white paper’s author remains as impenetrable as ever. Those both within and without the crypto community began attempting to determine Nakamoto’s identity as early as October 2011, just a few months after the mysterious figure first went silent.
From: The FxPro News Team https://fxpro.news/daily-forex-outlook/11-years-ago-today-satoshi-nakamoto-published-the-bitcoin-white-paper-20191031/
Selected by fonecable.com
- Dollar eyes multi-week lows as risk assets rally
- NEWS: NZD sitting sideways just under 0.6580 – here’s what it’ll taker to send it higher July 09, 2020 at 01:10AM
- NEWS: Japan Core Machinery Orders for May +1.7% m/m (expected -5.0%) July 09, 2020 at 12:50AM
- NEWS: UK data – RICS house price balance for June -15 vs. -32 in May July 09, 2020 at 12:47AM
- EUR/USD Rate Eyes June High as Bullish RSI Trend Remains Intact
Top Posts & Pages
- GBP/USD (Mobile View)
- Gold Wave Analysis – 8 July, 2020
- NEWS: White House virus task force to hold press briefing at 11:30 am ET July 08, 2020 at 01:38PM
- DAX 30, CAC 40 & FTSE 100 Forecasts for the Week Ahead
- NEWS: ICYMI -BoE chief economist Haldane said recovery so far faster than expected, but …. July 08, 2020 at 04:59AM
- NEWS: US CDC reports 50,304 new cases as deaths rise July 08, 2020 at 07:04PM
- NEWS: Australian borders hardened even further - Queensland shuts out Victorians July 09, 2020 at 12:29AM
- NEWS: Trump has a 91% chance of winning the November 2020 election says Primary Model July 09, 2020 at 12:24AM
- Gold Prices Aim Above $1800 After Chart Barrier Breach
- China’s jobs problem runs deeper than the coronavirus