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A New Testament

In: The Bitcoin Dilemma

Author

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  • Colin L. Read

    (SUNY Plattsburgh)

Abstract

Bitcoin was certainly no overnight success. Following the mining of the first block on January 3, 2009, it was not until six days later, on January 9, 2009, that the source code to run a bitcoin node was released to SourceForge, a site that functions as a clearing house for digital innovators. From then on, SatoshiNakamoto, SatoshiNakamoto, Hatoshi was hashing blocks regularly and earning 50 bitcoin with every additional linked block in the chain, even though no transactions had occurred. It would take more than a year for a single purchase to be made with bitcoin, and two years before bitcoin attained a value above one dollar.

Suggested Citation

  • Colin L. Read, 2022. "A New Testament," Springer Books, in: The Bitcoin Dilemma, chapter 0, pages 43-54, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-09138-4_5
    DOI: 10.1007/978-3-031-09138-4_5
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