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10 Years Ago Today, The 1st Bitcoin Block Was Mined

Bitcoin Network is now 10 years old

The 10th anniversary of Bitcoin was celebrated. Many cryptocurrency news channels have earlier reported that BitMEX, a Seychelles-based crypto exchange celebrated the day with an ad message on British daily, The Times which read: “Thanks Satoshi! We owe you one: Happy 10th Birthday, Bitcoin.”

The purchase of ad space in The Times by BitMEX’s was not a random move. That very day, the genesis block was mined and Satoshi Nakamoto, the creator of Bitcoin, had embedded a headline on The Times which read: “Chancellor on brink of the second bailout for banks.” 

This happened during the peak of the economic crisis of 2009. The headline came as a reaction to the plans by Alistair Darling, ex-Chancellor of the Exchequer in the United Kingdom, to bail out British banks for the second time. 

The global economic recession was, therefore, the basic reason for Nakamoto to come up with an alternative currency, which could not be controlled by the governments.

On February 11, 2009, it was made clear in a forum post:

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Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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