Ninjastic
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Board Bitcoin Discussion
Re: how the first BTC got created?
by
does
on 20/12/2017, 01:30:10 UTC
Quote from: DannyHamilton on December 19, 2017, 03:47:33 PM
The miner pays themselves the mining reward with a transaction.  Therefore, there is ALWAYS at least 1 transaction for the block.

i am sorry but can u elaborate ?


Quote from: DannyHamilton on December 19, 2017, 03:47:33 PM
The miner pays themselves the mining reward with a transaction.  Therefore, there is ALWAYS at least 1 transaction for the block.
how is done it?


Quote from: Emoclaw on December 19, 2017, 04:06:54 PM
The first 50 BTC were generated from the genesis block (the first block in the Bitcoin blockchain) which does not reference previous blocks.
There is some fantastic technical information about the genesis block here: https://en.bitcoin.it/wiki/Genesis_block
https://bitcoin.org/en/developer-guide#term-genesis-block

As with all other blocks, you can view details about it using a conventional block explorer: https://blockchain.info/block-index/14849

can any one explain this for an untechnical person (a kid for example)


i know satoshi had mined the first block but how come he mined no transaction and got rewarded for it.
(if i follow my concept of my first post) << PLEASE correct me if i am wrong.