Back to Monerama Blog

The Bitcoin Origins (2) - 2010

Other parts of series:
The Bitcoin Origins (0) - Pre-bitcoin
The Bitcoin Origins (1) - The beginning to 2009
The Bitcoin Origins (2) - 2010
The Bitcoin Origins (3) - 2011
The Bitcoin Origins (4) - 2012
The Bitcoin Origins (5) - 2013
The Bitcoin Origins (6) - 2014
The Bitcoin Origins (7) - 2015
The Bitcoin Origins (8) - 2016
The Bitcoin Origins (9) - 2017
The Bitcoin Origins (10) - 2018
The Bitcoin Origins (11) - 2019
The Bitcoin Origins (12) - 2020


New exchange (Bitcoin Market)
The first exchange Bitcoin Market has been created.
(Image via BitcoinMarket)

Bitcoin Auction: 10,000.00 BTC --- Starting Bid 50.00 USD
BitcoinTalk user SmokeTooMuch wanted auction 10,000 BTC with starting bid 50 USD. First offer was only 20 USD and maximum bet 25 USD. Bitcoins did not changed owner.

Pizza for bitcoins
Pizza for bitcoins?
Laszlo Hanyecz bought 2 pizza for 10,000 BTC. That was the most expensive pizza in history. From this day May 22 is celebrated as Bitcoin Pizza Day.
(Image via Heliacal)

Get 5 free bitcoins from
Gavin Andersen created first bitcoin faucet. Everyone was able to get 5 bitcoins for free.
Gavin wrote: "Five ? per customer, first come first served, I've stocked it with ?1,100 to start. I'll add more once I'm sure it is working properly."
Satoshi's response: "Excellent choice of a first project, nice work. I had planned to do this exact thing if someone else didn't do it, so when it gets too hard for mortals to generate 50BTC, new users could get some coins to play with right away. Donations should be able to keep it filled. The display showing the balance in the dispenser encourages people to top it up.

You should put a donation bitcoin address on the page for those who want to add funds to it, which ideally should update to a new address whenever it receives something."
Bitcoin faucet address:
(Image via

New Bitcoin Exchange (
Mt. Gox exchange has been introduced by Jed McCaleb.
(Image via Mt.Gox)

Knightmb bitcoins
How many bitcoins do you own? Let us know!
Bitcointalk user knightmb send screenshot, that he own 371,067.36 BTC. That was 10 % of all current available bitcoins.
More info: Anyone know what happened to knightmb and his 371,000 BTC?
(Image via

Lost large number of bitcoins (8,999 BTC)
Original poster had 9,000 BTC and sent 1 BTC to his address and 8,999 BTC has been sent to change address without known private key. It was first large loss of bitcoins.

Bitcoin /dev/null address
Bitcoin address 1111111111111111111114oLvT2 has been used for the first time (received more than 68 BTC). Its RIPEMD-160 hash is 0000000000000000000000000000000000000000. Bitcoin sent to this address are "destroyed", because its private key is not known.

Bitcoin inflation bug
At block 74638 has been created 92,233,720,368.54277039 BTC. It has been fixed and rolled back.

Satoshi Nakamoto - Boring grey in colour
"As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:

Boring grey in colour
Not a good conductor of electricity
Not particularly strong, but not ductile or easily malleable either
Not useful for any practical or ornamental purpose

and one special, magical property:
Can be transported over a communications channel

If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.

Maybe it could get an initial value circularly as you've suggested, by people foreseeing its potential usefulness for exchange. (I would definitely want some) Maybe collectors, any random reason could spark it.

I think the traditional qualifications for money were written with the assumption that there are so many competing objects in the world that are scarce, an object with the automatic bootstrap of intrinsic value will surely win out over those without intrinsic value. But if there were nothing in the world with intrinsic value that could be used as money, only scarce but no intrinsic value, I think people would still take up something.

(I'm using the word scarce here to only mean limited potential supply)"

The Origin of shitcoin
The Origin of shitcoin
The word "shitcoin" first used.
(Image via

World first mining pool -
Marek Palatinus (slush) introduced first bitcoin mining pool.
(Image via - slush)

Previous part: The Bitcoin Origins (1) - The beginning to 2009
Next part: The Bitcoin Origins (3) - 2011

Back to Monerama Blog