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Lore: It apparently took Satoshi 6 days to mine the second block

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by COINS NEWS 155 Views

On the 3rd of January of 2009 the Genesis Block was issued. Only 6 days later the 2nd block came in. This is according to mempool. Why?

Did he wait for people to join the network, as very likely he didn't want to pre-mine everything by himself?

The Genesis Block was manually implemented so that the software could be released to others and the fun could begin. Another peer, which apparently joined 6 days later, was needed for the coins to start being mined. On that month, 78 blocks were mined, for a total of 3900 coins, and a total of around 32k blocks solved in that year. The reward of 50 coins would be worth roughly $998,534.50 in today's price.

Some people say he hard coded the Genesis but the mining apparently was not working. Yet, he wanted the infamous The Times' headline on it. After other people joined the network, the 2nd block was issued. Others also argue that his computer would very likely be too slow and many bugs were found in the software in between the blocks.

The rewards from the Genesis Block could not be spent, which resembles his idea of a fair and just system.

What would be your bets?

Fun fact: The first transaction from Satoshi to Hal Finey happened only in block 170. All of those rewards were being mined on a single CPU.

submitted by /u/reddito321
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