Coinfomania: Where blockchain and cryptos live.

Bitcoin Still Running: 11 Years After Hal Finney First Started Running Bitcoin!

Hal Finney was already a famous computer scientist when he contributed immensely to the development of the Bitcoin network. 

He received the first bitcoin transaction from Satoshi Nakamoto in early 2009, with the fact that Satoshi’s stacks of bitcoins have remained untouched till date meaning one cannot correctly rule him out as the creator of the cryptocurrency.

Besides, he is also credited with being the creator of the first reusable proof of work system before bitcoin.

Back to the present, today is significant for the crypto space even though it has now been six years since Hal Finney passed on.

It was on this day in 2009, that Hal came to Twitter to announce that “he is running bitcoin.”

Whether that tweet prompted other programmers to pick an interest in the then-new invention, it no doubt represented the first tweet on Twitter about Bitcoin and opened the way for the emergence of a new industry.

It is now eleven years after Hal started running bitcoin, and yet the network has continued to thrive against all the odds, working just as it was designed to function.

Hal Finney as we’ve reported in the past fully understood the type of system he was helping to develop and even predicted after Satoshi’s release that someday, one BTC may be worth as much as $10 million.

He wrote in a now archived email:

Imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world.

Putting numbers into perspective, Hal Finney added,

Current estimates of total worldwide household wealth that I have found range from $300 trillion to $100 trillion. With 20 million coins, that gives each coin a value of about $10 million.

Indeed, Hal hasn’t lived to see his prediction come true, but the continued existence of the Bitcoin network is at least evidence that the efforts but in those early days were not in vain.

Today, we are approaching the third halving in Bitcoin’s history. We can convincingly say that there are millions of people running bitcoin, maybe more than Hal may have believed was possible when he started running bitcoin eleven years ago.

The network may never stop running!

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