Wednesday, March 20, 2019

Most Famous Bitcoin Transactions Since its Creation

Since Bitcoin’s creation in 2009, a lot can be said about the most popular cryptocurrency. This will include its use cases, price volatility, regulation issues, and so much more. When it comes to its real-life application, the virtual asset has been used to make purchases tagged the “most famous Bitcoin transactions” and they will always be remarkable.

Most Famous Cryptocurrency Transactions Cannot be Overlooked

The most famous Bitcoin transactions are those that cannot be overlooked when the historical events about the market are made reference to. The first Bitcoin transaction, for instance, was carried out between Satoshi Nakamoto and Hal Finney. Nakamoto is a name that is reputably known as the creator of Bitcoin. Finney whose name was used to label Sirin labs’ blockchain smartphone, is a pioneer who is also linked to the
genesis of Bitcoin.

In the same vein, “Laszlo Hanyecz Pizza” has become a popular search term on Google given that it is one of the biggest bitcoin transaction. Hanyecz, a Florida-based programmer on May 22, 2010, bought two Pizzas for 10,000 Bitcoin. On that day, 1 BTC was valued at $0.004 and as such, all the programmer had to pay was $41. Today where the virtual asset is trading at $3,900, that amount of BTC is valued at $39 million. The Bitcoin pizza transaction ID can be tracked on the blockchain.

$149 Million Worth of Bitcoin is Used to Make a Purchase

In 2013, another major transaction was made where $149 million (194,993 BTC) was paid. The digital currency had a price tag of $729 which is an 81 percent decrement from its price today. However, details about the transaction are still unknown as well as the recipient of the virtual asset. Assumptions have been made that the BTC was sent by Satoshi.

Mt.Gox, the oldest cryptocurrency exchange which was hacked in 2014, was trying to prove to its investors that it is financially sound. As such, Mark Karpeles, the exchange’s CEO sent 442,000 Bitcoins from the exchange to another wallet owned by the company. Today, that amount of BTC is valued at about $1.7 billion and would’ve probably helped to solve some of the exchange’s problems if not all.

All these findings have been made possible by knowing how to track a bitcoin transaction. While we’re still hammering on famous transactions revolving around cryptocurrency, one was recently spotted on the Ethereum Blockchain. Here, an anonymous user on February 18 paid over $300,000 as transaction fees while sending only $14. It could have been an error but that is not the case because similar transactions of that nature were made.

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