Bitcoin market, history and myths

Card 153

Bitcoin market, history and myths
Card 153
Topic 12 · Bitcoin market, history and myths · Explorer

To whom did Satoshi Nakamoto send the first known Bitcoin transfer between two people?

Card answer

Correct answer

Answer A: Hal Finney.

Detailed explanation

Hal Finney is the recipient of the early Bitcoin transfer that the card asks about. The supplied version of the card mentions a transfer of 10 BTC from Satoshi Nakamoto to him in January 2009, shortly after the network launched.

A transfer between two people should be distinguished from new issuance through mining. An ordinary payment uses existing bitcoin and sets new spending conditions. It does not simply create additional bitcoin that increase the money supply.

The wording ‘first known’ describes the card's historical reference. It makes no statement about the amount's value today. For the learning objective, the recipient and timing matter, not a retrospective calculation using later market prices.

Sources used

Primary source · EN · Specialist source

Hal Finney – Bitcoin and me (original account)

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Supplementary source · EN · Specialist source

Bitcoin Block 170

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