First Bitcoin Transaction 10 BTC

The Genesis Transaction (The First Block)

The first Bitcoin transactions directly related to Satoshi Nakamoto can be divided into two main milestones:

• Date: January 3, 2009.
• Detail: Satoshi Nakamoto mined the Genesis Block (Block 0), the very first block on the Bitcoin blockchain.
• Transaction: This block contained the first Bitcoin "transaction." Technically, it was the initial block reward of 50 BTC that was created and sent to Satoshi Nakamoto's own address.
• Important: This Genesis Block reward is unique and can never be spent due to a peculiarity in the code. It is often called the initial "mining transaction," but it was not a transfer from one person to another.

The First Real P2P (Peer-to-Peer) Transaction

• Date: January 12, 2009 (recorded in Block 170).
• Detail: Satoshi Nakamoto sent 10 BTC to the cryptographer and developer Hal Finney.
• Significance: This is considered the first real transaction between two individuals on the Bitcoin network. It proved to the world (to the small cryptographic community at the time) that the software worked and that peer-to-peer value transfer was possible without intermediaries. Hal Finney had tweeted "Running Bitcoin" just two days earlier, and the transfer was a crucial proof of concept.

- First Bitcoin transaction was the 50 BTC reward in the Genesis Block (January 3, 2009).

- First Bitcoin transfer between two users was 10 BTC from Satoshi Nakamoto to Hal Finney (January 12, 2009).

 

January 12, 2009, Satoshi Nakamoto sent 10 BTC to Hal Finney, the start of a usable technological revolution that would change many economic concepts.

The transaction was recorded in the blockchain forever and can be consulted here for verification. 

Hal Finney in this Bitcointalk forum post, Hal, Bitcoin and me, (Hal Finney)  explains his problem with ALS disease.

Career:

After graduation from Caltech, he went to work in the computer gaming field for a company that developed video games such as Adventures of Tron, Armor Ambush, Astrosmash and Space Attack.

He later went to work for the PGP Corporation with whom he remained until his retirement in 2011.

 Finney was a noted cryptographic activist. During the early 1990s, in addition to being a regular poster on the cypherpunks listserv, Finney ran two anonymous remailers. Further cryptographic activism included running a (successful) contest to break the export-grade encryption Netscape used.

In 2004, Finney created the first reusable proof of work system before bitcoin. In January 2009, Finney was the Bitcoin network's first transaction recipient.

Harold Thomas Finney

Finney died in Phoenix, Arizona, on August 28, 2014, as a result of complications of ALS and was cryopreserved by the Alcor Life Extension Foundation.