BitMEX has decided to purchase an advertisement on The Times thanking Satoshi Nakamoto for creating Bitcoin ten years ago. The information was released by BitMEX Research on Twitter. The advertisement has been published in The Times on January 3, 2019. 10 years ago, Satoshi Nakamoto processed the first Bitcoin transaction making a reference to The Times’ front page.
BitMEX Celebrates Bitcoin’s Tenth Anniversary
Bitcoin celebrates today its tenth anniversary after Satoshi Nakamoto mined the first Bitcoin block. Bitcoin (BTC) was created in order to create a new financial system without having to depend on traditional financial institutions. Bitcoin’s genesis block had a small text embedded saying:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for bank.”
Happy 10th Birthday Bitcoin! pic.twitter.com/DpOPjojsOd
— BitMEX Research (@BitMEXResearch) January 2, 2019
The address that received the first 50 BTC has also received almost 17 BTC more during this time. Now it has 66.9123 BTC. However, these funds cannot be moved or spent. The code has been specifically designed for not allowing a person to spend these virtual currencies. Not even Satoshi himself is able to spend them.
During the last ten years, Bitcoin has expanded all over the world. There are companies, retail stores, individuals and institutions using the most popular virtual currency. Satoshi wanted to create a cryptocurrency that would not have influence from a central authority and that it would have a limited supply.
In an email that he sent to a list of developers and enthusiasts, he wrote:
“There is nobody to act as a central bank or federal reserve to adjust the money supply as the population of users grows. That would have required a trusted party to determine the value because I don’t know a way for software to know the real world value of things.”
At the same time, he compared it with a precious metal. He said that as the number of users grows, the value per coin increases. And this can be seen in the price evolution that Bitcoin had during the last ten years. Although volatile, the upward trend is very clear. Just in December 2017, Bitcoin reached $20,000 dollars.
Currently, Bitcoin is being traded just under $3,900 and it has a market capitalization of $68.03 billion. Although during 2018 the popular digital asset experienced a bear trend, several analysts believe that 2019 will be a better year in terms of price performance.