Today is Bitcoin’s 14th birthday!

Our beloved OG is 14 years old as of today! On the 3rd of January of 2009, the code was ignited by Satoshi Nakamoto and the Genesis Block started the chain. I've gathered some charts and did some math on them for you folks. Since the Genesis Block:

BTC has been profitable for 3,750 days, or 83% of its existence

Relative to today's price, if you bought before November 2020 you're likely in profit, as per this chart:

Source: blockchain.com

A total of 19,248,459.375 BTC entered in circulation (as of writing)

This is roughly 91.66% of the entire supply ever, which is 21 million coins

More than 259,912 BTC have been paid as transaction fees

The chart of transaction fees is below. As one can see, the fees were ever high during 2017's run. I've summed up each day and the value is immense!

BTC transaction fees. Source: data.nasdaq.com

The average transaction time has been 7.39 minutes!

The transaction times were higher, as expected, in the bull runs. Nothing new here.

BTC transaction time. Source: data.nasdaq.com

Miners had a revenue of roughly $47,671,422,165

The revenue chart is plotted below and, once more, we see the peaks coincided with the runs!

Miners' revenue. Source: data.nasdaq.com

The average cost per transaction has been $38.66

This is dividing the miner's revenue by the number of transactions. It is not the cost of the user sending a transaction, but rather the cost of the transaction in the network:

Cost per transaction. Source: data.nasdaq.com

BTC reached over $1T in market capitalization

On Oct 2021, the market capitalization (which is naturally extremely correlated with the coin's price) reached its peak of roughly $1.25 trillion USD dollars. This is more than half of Apple's current capitalization and more than the whole crypto scene current one:

Source: blockchain.com

The blockchain started growing exponentially somewhere in 2015 and currently has roughly 450 GB

It was in 2015 that the inflection point of the exponential growth of the blockchain happened. Its growth has been almost like a straight curve ever since:

Source: blockchain.com

Trivia: in 2010 there was a Bitcoin exploit that shortly increased its supply to 184 billion coins

This happened on block 74,638. The culprit is still unknown!

The issue was termed an “overflow bug”; the code for checking Bitcoin transactions didn't work if outputs were large enough that they overflowed when summed.

After 5 hours, Satoshi himself released version 0.3.1 and urged the nodes to jump in the “new chain”:

Satoshi's message. Source: BitcoinTalk

For a few hours there were two BTC blockchains, as this was a hard fork!

That's it for today!

Future is bright for crypto. Satoshi started a revolution and many after him followed suit. We now have many chains and coins and possibilities are endless.

Happy birthday, BTC!

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50 thoughts on “Today is Bitcoin’s 14th birthday!”

  1. Bitcoin pros & cons and related info are in the collapsed comments below. Pros and cons will change for every new post.

  2. OMG, I didn’t get BTC anything?! I feel so ashamed. I’d rather forget my mom’s birthday.

  3. Today is also proof of keys day, don’t forget to take your Bitcoin off exchanges and put it in self custody!

  4. Thank you Satoshi for making freedom in a code! He didn’t wanted any credit for it and left us with this amazing decentralized money. That’s something you don’t see nowadays. He was someone with principals what we don’t see anymore in the crypto world!

  5. Our beloved BTC is still a kid. It’s amazing the impact it has had in just 14 years. It’ll only keep growing from here

  6. The teenage years are always rough. Sullen, moody, and petulant. I’m getting the same treatment from btc as I’m getting from my kids…

  7. The whole Crypto market would be in shambles if the same bug happened now as it did in 2010.

  8. Happy birthday bitcoin 🎉🎁 and thank you for all this charts and graphics 👌🏼 also, can’t wait to see what will happen when bitcoin hits puberty/legal age

  9. I wonder why 2017 had the highest gross transaction fees? Why didn’t 2020 or 2021 compete with those numbers?

  10. It’s not always easy being your friend Mr Bitcoin but thanks for destroying our mental health and turning us into degenerate gamblers all these years! Here’s to hoping that it will all be worth it one day.

  11. Today at 9 o’clock at my house for noodle dinner and party to celebrate it! You are all invited!

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  12. It hurts reading that it has already been 14 years since its creation, and I’ve not accumulated enough BTC yet.

  13. And here’s to many many more years. Just a reminder that this current rough patch doesn’t change the fundamentals of crypto. And we will get there one day

  14. And soon after its birth you could buy 1309BTC for $1 on a website called New Liberty Standard (it was the average cost to mine them).

    How times have changed since…

  15. Celebrate Bitcoins Birthday by taking any remaining sats you have off exchanges and into your own custody.

  16. >After 5 hours, Satoshi himself released version 0.3.1 and urged the nodes to jump in the “new chain”. For a few hours there were two BTC blockchains, as this was a hard fork

    Slightly misleading. First of all, Bitcoin at this time was still in beta and had no real markets. People were actively probing and helping Satoshi, Martti Malmi and few early developers fix issues.

    The fix was pushed in 5 hours but it was NOT a hard fork fix. It was a soft fork fix and nodes had to adopt the fix themselves on their own. There were two chains briefly only until majority of nodes adopted the fix and this happened at block height 74691 when the patched nodes overtook unpatched nodes.

  17. That overflow bug is scary.. what if it happened again and Satoshi is gone?

    Would we have to make a new fork and all agree to move to it?

  18. Around 2015 or 16, I did a service upgrade for a home mining setup so he could have a separate 100amp panel for all his mining rigs. I was aware of what BTC was, but I refused the option to take two coins as part of the payment… live and learn, I guess.

  19. If you don’t buy BTC now that it’s down bad, you will regret it in 5-10 years. As you always did

  20. I don’t know half of you half as well as I should like; and I like less than half of you half as well as you deserve.

  21. It is telling that most of this post is about profit and revenue but very little about actual good it does for the world.

    It does do good in the world right?

    Not just profits?

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