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project:nft-bitcoin-genesis-block:start [2021/03/16 23:33] gribaartproject:nft-bitcoin-genesis-block:start [2021/03/17 12:18] (current) gribaart
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-<note tip> +==== Hello, World! Artem here! ====
-Hello, World! Artem here!+
  
 +Hello, World! I want to introduce you to my digital conceptual artwork "Genesis block of Bitcoin". This is an NFT tokenize art that is hosted on the blockchain.
 +
 +The Genesis Block is the first block in a bitcoin blockchain and can be found at zero block height.
 +
 +In this work, I used the principle of uniqueness, the key idea of the NTF token as a metaphor to express the uniqueness of Bitcoin as a technology and its great importance of this first blockchain block, for the financial industry and the transparent world in general.
 +
 +It is a digital peace of modern conceptual art, an eternal memorial of human freedom that will live as long as the gas burns and the ether exists.
 +
 +The true gift of the Genesis Block, however, is its legacy of accountability, integrity, and transparency — qualities that the financial services sector is painfully learning to acquire.
 +
 +"Genesis block of Bitcoin" I. Polyptych "Hash"
 +{{: project:nft-bitcoin-genesis-block:bgb.png |}}
  
-I want to introduce you to my digital conceptual artwork "Genesis block of Bitcoin": https://opensea.io/collection/genesis-block-bitcoin 
  
-This is an NFT token that represents the Genesis Block of Bitcoin. The Genesis Block is the first block in a bitcoin blockchain and can be found at zero block height. 
-</note> 
 === What Is Genesis Block? === === What Is Genesis Block? ===
 Genesis Block is the name of the first block of Bitcoin ever mined—thus called "Genesis." The Genesis Block forms the foundation of the entire Bitcoin trading system and is the prototype of all other blocks in the blockchain. In 2009, Bitcoin's named developer, Satoshi Nakamoto, created the Genesis Block, which launched the process of Bitcoin trading that's in place today. Genesis Block is the name of the first block of Bitcoin ever mined—thus called "Genesis." The Genesis Block forms the foundation of the entire Bitcoin trading system and is the prototype of all other blocks in the blockchain. In 2009, Bitcoin's named developer, Satoshi Nakamoto, created the Genesis Block, which launched the process of Bitcoin trading that's in place today.
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 Perhaps the true gift of the Genesis Block is its legacy of accountability, integrity, and transparency. Perhaps the true gift of the Genesis Block is its legacy of accountability, integrity, and transparency.
  
-Fans of the Genesis Block+=== Fans of the Genesis Block ===
 Because the Genesis Block, also known as Block 0, began the process of trading bitcoin, Bitcoin fans hold the Genesis Block in a kind of cult-like reverence, as they do its creator. Fans are drawn to Bitcoin's arcane construct and idiosyncratic vocabulary with the fervor of one obsessed with a sophisticated arcade game. Because the Genesis Block, also known as Block 0, began the process of trading bitcoin, Bitcoin fans hold the Genesis Block in a kind of cult-like reverence, as they do its creator. Fans are drawn to Bitcoin's arcane construct and idiosyncratic vocabulary with the fervor of one obsessed with a sophisticated arcade game.
  
 Bitcoin devotees have been donating small amounts of bitcoin (BTC) to the Genesis Block as a tribute to Satoshi Nakamoto. This is seen as a kind of sacrifice because once a coin is moved into the Genesis Block, it can never be moved again—sort of like throwing a quarter into a fountain. Bitcoin devotees have been donating small amounts of bitcoin (BTC) to the Genesis Block as a tribute to Satoshi Nakamoto. This is seen as a kind of sacrifice because once a coin is moved into the Genesis Block, it can never be moved again—sort of like throwing a quarter into a fountain.
  
-A Quick Bitcoin Primer+=== A Quick Bitcoin Primer ===
 Bitcoin is a type of cryptocurrency, which is based on the peer-to-peer electronic cash system developed by Satoshi Nakamoto. Bitcoin refers to the system and concept of the trading platform and "bitcoin"—small "b"—refers to the virtual coinage that is traded. There are no actual coins, thus the "bit"—or binary digit, the most basic unit of data in computing—before "coin." Bitcoin is a type of cryptocurrency, which is based on the peer-to-peer electronic cash system developed by Satoshi Nakamoto. Bitcoin refers to the system and concept of the trading platform and "bitcoin"—small "b"—refers to the virtual coinage that is traded. There are no actual coins, thus the "bit"—or binary digit, the most basic unit of data in computing—before "coin."
  
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 Like gold, Bitcoin cannot be created arbitrarily. Gold must be mined out of the ground, and BTC must be mined via digital means. Moreover, Bitcoin's founder stipulated that, like gold, the supply of bitcoin should be limited and finite. Only 21 million BTC can be mined in total. When miners have unlocked this many bitcoin, then the planet's supply will be tapped out, unless someone changes Bitcoin's protocol to allow for a larger supply. Like gold, Bitcoin cannot be created arbitrarily. Gold must be mined out of the ground, and BTC must be mined via digital means. Moreover, Bitcoin's founder stipulated that, like gold, the supply of bitcoin should be limited and finite. Only 21 million BTC can be mined in total. When miners have unlocked this many bitcoin, then the planet's supply will be tapped out, unless someone changes Bitcoin's protocol to allow for a larger supply.
  
-Mysteries of the Genesis Block+=== Mysteries of the Genesis Block ===
 Beginning with the fact that the name, "Satoshi Nakamoto," itself is a pseudonym, the Genesis Block and the founding of Bitcoin remains riddled with mystery. Shortly after the launch of Bitcoin, the person called "Satoshi Nakamoto" vanished from the face of the earth, leaving barely a trace. This auspicious event paved the way for the continuous enigma surrounding what fans lovingly call "the Block." Beginning with the fact that the name, "Satoshi Nakamoto," itself is a pseudonym, the Genesis Block and the founding of Bitcoin remains riddled with mystery. Shortly after the launch of Bitcoin, the person called "Satoshi Nakamoto" vanished from the face of the earth, leaving barely a trace. This auspicious event paved the way for the continuous enigma surrounding what fans lovingly call "the Block."
  
-The First 50 BTC Could Not be Spent+=== The First 50 BTC Could Not be Spent ===
 The Genesis Block's beginnings were shrouded in the debate about a fine point of its creation: Was the code that rendered the Genesis Block effectively untradeable an intention or a mistake on the part of Nakamoto? The Genesis Block's beginnings were shrouded in the debate about a fine point of its creation: Was the code that rendered the Genesis Block effectively untradeable an intention or a mistake on the part of Nakamoto?
  
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 Current versions of the Bitcoin system handle the block/transaction databases differently from the original system, so the Genesis Bock's transaction is now just a weird special case in the code. Current versions of the Bitcoin system handle the block/transaction databases differently from the original system, so the Genesis Bock's transaction is now just a weird special case in the code.
  
-The Genesis Block's Secret Message+=== The Genesis Block's Secret Message ===
 Another puzzling aspect of the Genesis Block is the secret message that Nakamoto instilled within the Block's raw data: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." Another puzzling aspect of the Genesis Block is the secret message that Nakamoto instilled within the Block's raw data: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."
  
 Although Nakamoto never commented on the meaning of this text, most believe that it serves as a mission statement for Bitcoin itself. The text is a headline for an article in the January 3, 2009 edition of The [London] Times about the British government's failure to stimulate the economy following the 2007–08 financial crisis. Nakamoto famously hated the idea of too-big-to-fail financial institutions and wanted Bitcoin to be different in that regard. Most people think that Nakamoto's reference to the article in the Genesis Block's code was a hint as to how Bitcoin is different from the big investment banks that needed government bailouts in 2008. Although Nakamoto never commented on the meaning of this text, most believe that it serves as a mission statement for Bitcoin itself. The text is a headline for an article in the January 3, 2009 edition of The [London] Times about the British government's failure to stimulate the economy following the 2007–08 financial crisis. Nakamoto famously hated the idea of too-big-to-fail financial institutions and wanted Bitcoin to be different in that regard. Most people think that Nakamoto's reference to the article in the Genesis Block's code was a hint as to how Bitcoin is different from the big investment banks that needed government bailouts in 2008.
  
-The True Legacy of the Genesis Block+=== The True Legacy of the Genesis Block ===
 Bitcoin cannot be bailed out because its process eliminates the middleman; there is no third-party, no corporate entity to go between BTC and the consumer. The Bitcoin network checks and double-checks itself continuously via complex mathematical problems that are first resolved by computers, then by human bitcoin miners. One cannot proceed with any bitcoin trade until the math puzzle is validated. Another failsafe is that, because all transactions are stored forever, the actions of miners can always be traced, which makes it impossible to hide any evidence of wrongdoing. Bitcoin cannot be bailed out because its process eliminates the middleman; there is no third-party, no corporate entity to go between BTC and the consumer. The Bitcoin network checks and double-checks itself continuously via complex mathematical problems that are first resolved by computers, then by human bitcoin miners. One cannot proceed with any bitcoin trade until the math puzzle is validated. Another failsafe is that, because all transactions are stored forever, the actions of miners can always be traced, which makes it impossible to hide any evidence of wrongdoing.
  
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 KEY TAKEAWAYS KEY TAKEAWAYS
-Genesis Block is the name of the first block of Bitcoin ever mined.+ Genesis Block is the name of the first block of Bitcoin ever mined.
  
-In 2009, a developer named Satoshi Nakamoto created the Genesis Block.+ In 2009, a developer named Satoshi Nakamoto created the Genesis Block.
  
-The Genesis Block forms the foundation of the Bitcoin trading system and is the prototype of all other blocks in the Bitcoin blockchain.+ The Genesis Block forms the foundation of the Bitcoin trading system and is the prototype of all other blocks in the Bitcoin blockchain.
  
-Article by CARLA TARDIGenesis Block Definition. Investopedia: Sharper insight, better investing. [online]. Available from: https://www.investopedia.com/terms/g/genesis-block.asp+Article by CARLA TARDI, Genesis Block Definition. Investopedia: Sharper insight, better investing. [online]. Available from: https://www.investopedia.com/terms/g/genesis-block.asp
project/nft-bitcoin-genesis-block/start.1615937594.txt.gz · Last modified: 2021/03/16 23:33 by gribaart