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:
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:
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:
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!