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18 votes

When, if ever, will "peak bitcoin" occur?

At the beginning of Bitcoin, every newly mined block (about every 10 minutes) creates 50 bitcoins. This is called the block subsidy. About every 4 years, this number cuts in half. Therefore, the peak ...
user253751's user avatar
18 votes

When, if ever, will "peak bitcoin" occur?

According to comments by the project's founder, Bitcoin's issuance rate was indeed inspired by that of precious metals. However, it is implemented algorithmically, of course, which artificially limits ...
Murch's user avatar
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14 votes
Accepted

How did peer discovery work in Bitcoin v0.1?

The first seed mechanism was IRC-based. There was a hardcoded IRC server and IRC channel (#bitcoin on Freenode), and the Bitcoin client would connect to the server, and join the channel with a ...
Pieter Wuille's user avatar
13 votes
Accepted

Why is there a 5 days gap between genesis and block 1?

While the Genesis block is timestamped 3rd of January, the hash of the Genesis block is astonishingly low. It has been theorized that Satoshi set himself a more challenging target for the Genesis ...
Murch's user avatar
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10 votes
Accepted

How did pay-to-pubkey hash come about? What is its history?

Pay to Public Key Hash has existed for the entirety of Bitcoin's life. P2PKH addresses have existed since the earliest release of Bitcoin. Creating P2PKH addresses and sending to P2PKH addresses was ...
Andrew Chow's user avatar
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9 votes
Accepted

Where did the idea of blockchain come from? Git was already using it since 2005

According to Bitcoin and Cryptocurrency Technologies (BaCT), the Princeton Bitcoin textbook, the block chain dates back to a "paper by Haber and Stornetta in 1991. Their proposal was a method for ...
Murch's user avatar
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8 votes

Where can I access the original, Satoshi written Bitcoin code?

This page contains files for the first three available Bitcoin codebases written by Satoshi Nakamoto. http://satoshi.nakamotoinstitute.org/code/
Minto Tsai's user avatar
8 votes
Accepted

Why are OP_MUL and OP_DIV disabled in Bitcoin?

OP_MUL and OP_DIV were removed by Satoshi Nakamoto in commit 4bd188c4383d6e614e18f79dc337fbabe8464c82. As with most changes in early days of the development, little rationale was explicitly given by ...
Antoine Poinsot's user avatar
7 votes
Accepted

How was the dust limit of 546 satoshis was chosen? Why not 550 satoshis?

The dust limit is not actually fixed, technically - it varies based on the type of output. 546 satoshis is simply the most commonly known one, for a p2pkh output. Being the longest-lived output type, ...
Raghav Sood's user avatar
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7 votes
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What is the significance of Bitcoin Pizza Day, and when is it celebrated?

Bitcoin Pizza Day is celebrated on May 22nd. On this day in 2010, a BitcoinTalk member bought pizza in exchange for 10,000 BTC. This represents more or less the first known transaction using bitcoins ...
archilles's user avatar
7 votes
Accepted

Why does Satoshi's public key have the uid "BuZz Spacedout"

This is what I see for a search on pgp.mit.eud, which points to this key: That is a surprising result. If we download the key purported to be Nakamoto's from Bitcoin.org, we get the following ...
David A. Harding's user avatar
7 votes
Accepted

Was it always required for the Coinbase transaction to be the first transaction in a block?

This is not true. Code and code comments in v0.1.5 (the oldest tagged version in git) enforce that there always is a coinbase transaction and that it must always be the first. There cannot be a ...
Andrew Chow's user avatar
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7 votes

Was the addition of OP_NOP codes in Bitcoin 0.3.6 a hard or soft fork?

When the script interpreter encounters an unknown opcode (the default: case inside the switch statement), it returns false. That aborts verification and considers the transaction to be invalid. This ...
Pieter Wuille's user avatar
7 votes
Accepted

How could Bitcoin developers handle and resolve severe software vulnerability without drawing public attention?

How can a severe security bug be fixed in a new version without the public becoming aware of the fix, preventing anyone from exploiting the bug? It is extremely difficult for the reasons you point ...
Michael Folkson's user avatar
7 votes
Accepted

What was the largest UTXO ever created in bitcoin’s entire history?

No, the largest output ever created was 500,000 BTC: 29a3efd3ef04f9153d47a990bd7b048a4b2d213daaa5fb8ed670fb85f13bdbcf I used this Blockchair query to find out: https://blockchair.com/bitcoin/outputs?s=...
Vojtěch Strnad's user avatar
6 votes

Where can I access the original, Satoshi written Bitcoin code?

Here is the first version uploaded to sourceforge: https://sourceforge.net/p/bitcoin/code/1/tree//trunk/
Stakedex.io's user avatar
6 votes

Satoshi's final statement

Ultimate necro, but it was Mike Hearn. You can find multiple emails between Satoshi Nakamoto and himself from back then at his site here: http://plan99.net/%7Emike/ The specific quote you've found is ...
satoshi kazuko's user avatar
6 votes
Accepted

What was the first altcoin?

Litecoin was not the first altcoin. It actually uses ideas for altcoins that precede it but had died before it was created. This is mentioned in its announcement thread on bitcointalk.. The very first ...
Andrew Chow's user avatar
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6 votes
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When was the paper of bitcoin announced?

According to the mailing list archives, the mailing list received Satoshi's email at Fri Oct 31 14:10:00 EDT 2008. However the mailing list is moderated so perhaps the email was not received by ...
Andrew Chow's user avatar
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6 votes

What was the longest held UTXO ever spent?

As of June 19 2019, using the following query: bitcoin-indexer=> select reverse_bytes(output_tx.hash_id || output_tx.hash_rest), output.tx_idx, output_tx.current_height, input_tx.current_height,...
dpc.pw's user avatar
  • 281
6 votes
Accepted

When did the main Bitcoin client become known as Bitcoin Core? When/Why/How did this happen?

The renaming was merged in December 2013 with prior discussion on this GitHub issue. The general motivation was to distinguish between one particular implementation of the Bitcoin protocol (many refer ...
Michael Folkson's user avatar
6 votes
Accepted

Where can I find the technical discussion between Satoshi and other contributors in the sourceforge website?

Try https://satoshi.nakamotoinstitute.org I believe this group has attempted to consolidate all known messages written by Satoshi Nakamoto on their site.
pinhead's user avatar
  • 4,992
6 votes
Accepted

Where was the term "coinbase" first coined, who first used it?

The term "coinbase" was most likely coined by Satoshi through the IsCoinbase method of the CTransaction class. It was both part of the first publicly distributed version of the source code ...
Antoine Poinsot's user avatar
6 votes
Accepted

What are the last common blocks of Bitcoin and its hard forks (Bitcoin Cash, Bitcoin SV etc.)?

Here listed only the top 4 forks by market cap (on 2023-10-12). Name Symbol Market Cap Fork Date / Forked From Last Common Block with Bitcoin Bitcoin BTC $523.0bn N/A N/A Bitcoin Cash BCH $4.2bn ...
bca-0353f40e's user avatar
  • 1,014
5 votes

How was the dust limit of 546 satoshis was chosen? Why not 550 satoshis?

Bitcoin core sets the dust limit to a value where spending an output would exceed 1/3 of its value. This calculation is based on the node's setting for the minimum relay transaction fee (see option -...
Thalis K.'s user avatar
  • 453
5 votes
Accepted

When did Satoshi Nakamoto release Bitcoin v.0.1 to the public? 08 Jan 09 or 09 Jan 09?

It depends on how you define release. Satoshi sent the email to the Cryptography mailing list on Jan 8 2009 UTC. However because the Cryptography mailing list is moderated, that email did not reach ...
Andrew Chow's user avatar
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5 votes
Accepted

What has OP_RETURN been used for over Bitcoin's history?

pourteaux answered this in a Twitter thread. The story starts in 2010, when there was debate on bitcointalk about a proposal to include a DNS service on bitcoin called BitDNS. There was concern (...
Michael Folkson's user avatar
5 votes

Who first started to name 'blockchain technology' as 'blockchain'

The first use of the phrase "block chain" was by Hal Finney in his response to Satoshi's email with the whitepaper. Over time, the two words have been combined into the single word "...
Andrew Chow's user avatar
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5 votes

What was the bug for the Bitcoin value overflow in 2010?

Your first source is wrong. The block in question contained three transactions: the first is a coinbase transaction, the second is the one that did the overflow. The third is unknown, and not relevant....
Andrew Chow's user avatar
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5 votes
Accepted

When was first bitcoin transaction with fees?

The first block with transactions that paid fees was block 2817, the second was 12 983. To answer your question, I used blockchair.com’s block overview, sorted the blocks by ascending height and ...
Murch's user avatar
  • 72.6k

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