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Bitcoin [BTC]’s genesis block completes a decade – space celebrates completion of 10-year of decentralization




Bitcoin [BTC]'s genesis block completes a decade - space celebrates completion of 10-year of decentralization
Source: Unsplash

Bitcoin [BTC] is considered to be the king of the cryptocurrency market, with the currency being the first of its kind that led to the inception of the rest of the coins in the market. The currency is hailed to be the gateway that gives the power back to the people by striping them away from institutions and oppressive governments.

The coin was created by Satoshi Nakamoto, whose identity continues to be a mystery in the space. Nakamoto published the Bitcoin white paper on October 31, 2008. The white paper – A peer-to-peer electronic cash system, focused on creating a digital cash that would empower an individual to transfer money to another with the intervention of a third party.

Following the introduction of the white paper, Nakamoto mined the first block of the chain, aka the genesis block on January 3, 2009.

Bitcoin genesis block transaction | Source: Blockchain

Bitcoin genesis block transaction | Source: Blockchain

The content on the genesis block was the headline of The Times newspaper of January 3, 2009, which reads:

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”

This serves as the most important message in the cryptocurrency space as the majority of the space believes that the reason behind the inception of Bitcoin was because of the repeated abuse individuals have been through in the hands of banks and other financial institutions, to serve as a medium for freedom.

Since the mining of the genesis block, the cryptocurrency has marked several milestones, with many calling it a revolution just like the internet. Additionally, the coin has managed to gain the attention of the governments across the globe as some have embraced it and others fear it.

Charles Hoskinson, the CEO of IOHK said:

“Happy Birthday Bitcoin. It’s been ten years and you have already changed the entire world. I met a camel herder in Mongolia who has Bitcoin. Keep on playing Rubberband man”

Samson Mow, the CSO of Blockstream said:

“Happy 10th Birthday #Bitcoin! To put things in perspective, @btc is still a baby, but growing very fast. Gold has been “around” for ~7000 yrs & used as money for ~2700 yrs. Unlike gold though, #Bitcoin has the potential for incredibly rapid growth like that of the Internet. “

Naomi Brockwell, host of NBTV said:

“Bitcoin has been one of the most important steps towards freedom that we’ve seen in the last 100 years. Happy birthday, Bitcoin.”

Bobby Lee, co-founder of BTCC said:

“Happy 10th Birthday #Bitcoin! Ten years ago the Genesis block included the text “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”, thus marking the birth of decentralized money. This is now forever part of Bitcoin’s blockchain & DNA. Long live Bitcoin!”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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76467|Ripple partner SBI Holdings announces foray into mining space; will compete with giants Nvidia and Bitmain



Ripple partner SBI Holdings announces foray into mining space; will compete with giants Nvidia and Bitmain
Source: Pixabay

SBI Holdings, Inc. announced the establishment of its chip mining arm, the SBI Mining Chip Co., Ltd or SBIMC. With this development, the Tokyo-based firm will foray into the manufacturing of mining chips, a strategic move to enhance its existing digital asset business.

The official notice issued by the financial giant stated that the SBI Group practiced its digital asset mining business overseas, and now planned to diversify its potential business scope.

SBI group partnered with a US-based semiconductor firm to roll out the new manufacturing unit. The group, which is a strong advocate of a wide range of businesses based on blockchain elucidated,

“The SBI Group will promote efficient, reliable and sustainable mining operations to develop a sound and solid cryptocurrency market.”

SBIMC will be led by Adam Traidman, who was an investor in the company and also served at NASA previously. Among his many accomplishments, Traiman formerly served as the CEO in Chip Estimate and WearSens.

SBIMC will be leading chip manufacturer, Nvidia’s latest competitor. The Taiwan-based firm sustained losses during the crypto-winter, but it recovered after the recent acquisition of Mellanox, a semiconductor player. The Bitcoin mining giant, Nvidia, had predicted a bullish crypto market was confident of clearing its stockpiled mining equipment. The chipmaker was also reported as the worst performer in the S&P 500 list, at the end of 2018.

Another big rival in the mining ecosystem is Bitmain. The Beijing-based mining giant has also been operating poorly after registering a loss amounting to $500 million, owing to the massive crashes in cryptocurrency prices.

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76216|Anthony Pompliano’s Morgan Creek Digital Capital makes strategic investment propagating mass crypto adoption

Akash Anand



Bitcoin [BTC] proponent Anthony Pomplaino's Morgan Creek Digital Capital makes new strategic investment to propagate mass crypto adoption

The cryptocurrency market was helped along in its pursuit of mass adoption, with many proponents of the space lending a helping hand. The latest news about the bigger players in the cryptoverse included the tie-up between Morgan Creek Digital Capital and Ikigai Asset Management.

The official release stated,

“Morgan Creek Digital announced today that it will be the lead anchor investor in Ikigai Asset Management’s flagship fund focused on executing systematic and fundamental liquid hedge fund strategies as well as opportunistic venture-stage crypto asset investments. Ikigai is a crypto asset management firm launched in December 2018 by former Point72 Portfolio Manager Travis Kling and partners Timothy Lewis, and Anthony Emtman.”

Morgan Creek Digital partner, Anthony Pompliano, is a voracious supporter of Bitcoin, and has held a bullish viewpoint about the world’s largest cryptocurrency. Post the partnership with Ikigai, Pompliano talked about the company’s  positive devleopments, and claimed that they were well-positioned to capture the outstanding returns brought by cryptocurrencies in the coming future.

Ikigai Chief Investment Officer Travis Kling said,

“DLT and crypto assets are fundamentally changing our world. We are honored to receive this investment from Morgan Creek Digital and look forward to working closely together with Mark, Jason, and Pomp in this exciting arena.”

Pompliano recently sat down with Galaxy Digital’s Mike Novogratz to discuss elements like liquidity, trust and custody that need to be given a boost. Novogratz stated that the cryptocurrency market was presently a booming place of business, especially with the entry of companies like JP Morgan, Telegram and Facebook. He further claimed that it was a big opportunity to invest, with Wall Street sentiments changing. The Galaxy Digital CEO added,

“Wall street earlier thought that you shouldn’t take risks on something small like cryptocurrencies. They are getting close though, not doing anything but are getting really ready. We are anyway working hard on the security token business and I promise you this, the upcoming tokens and ICOs will be a lot bigger but less sexy.”


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