G7finance.com - Crypto Currency Updates logo G7finance.com - Crypto Currency Updates logo
2019-07-07 12:06:52

What is the Bitcoin Genesis Block?

The Bitcoin Genesis block is the first block in the blockchain ever.

All crypto currencies have a genesis block but Bitcoin’s is that little bit more special as it was the first of the first. 

Every block created since the genesis block can automatically trace it as its ancestor by the linkages to previous blocks in the block header.

The following is the block header hash for the first block!

000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

The Genesis block contains a hidden message in the coinbase transaction – it says “"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.". This is clearly a note from the eponymous Satoshi Nakomoto performing two functions – firstly marking the time of the first block and secondly economically pointing out the problems with the present Government bailouts of too big to fail banks and the moral hazard problem.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer