Bitcoiner of the Week: Hal Finney

Bitcoiner of the Week: Hal Finney

On August 28, 2014, Bitcoin world lost one of its earliest pioneers, Hal Finney, at the age of 58. Finney was one of the developer of Bitcoin project and the recipient of the first bitcoin transaction.

“I mined block 70-something, and I was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to me as a test. I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them” he said.

Continue reading Bitcoiner of the Week: Hal Finney at CEX.IO Official Blog.


Who Receives Newly Created Bitcoins?

Who Receives Newly Created Bitcoins?

One of the main areas of skepticism that people hold onto when they are new to the Bitcoin ecosystem has to do with who is receiving new bitcoins after they have been created. After all, if this is supposed to be a decentralized currency and payment system, it wouldn’t make too much sense if there was just some guy printing bitcoins off on his home computer. New bitcoins are distributed through the Bitcoin mining process, which is basically a lottery between many different miners who are trying to crack the algorithmic code associated with the next 25 bitcoins to be released.

Continue reading Who Receives Newly Created Bitcoins? at CEX.IO Official Blog.