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- Jameson Lopp revealed that Bitcoin had passed the 500 millionth transaction mark as the blockchain confirmed.
- The blockchain analytics site Statoshi shows that 500.3759 million transactions have been made as of now.
- Bitcoin has indeed been censored, and at places, they are still invalid.
Jameson Lopp, the co-founder of CasaHODL and creator of Satoshi.info, revealed in a tweet that Bitcoin had passed the 500 millionth transaction mark as the blockchain confirmed.
The tweet reads
Today, as of block 00000000000000000001145bf2e7cb7f04df55feaf3b55d9f6511522bbbf333f at height 616064, Bitcoin surpassed 500 million transactions confirmed on the blockchain. https://t.co/eVLbYnHohj
— Jameson Lopp (@lopp) February 5, 2020
The blockchain analytics site Statoshi shows that 500.3759 million transactions have been made as of now.
Bitcoin has come a long way since its first transaction took place on January 12th, 2009. Satoshi Nakamoto and the late Hal Finney were the first users of Bitcoin. During a test run, Nakamoto sent 10 Bitcoin to Finney.
After this test was successful, they began to mine the blocks. After ten months on October 5th, 2009, the new Liberty Standard set a new exchange for Bitcoin against the dollar. Initially, it took 2300 Bitcoins to pay a sum of $1.
Laszlo Hanyecz made the first-ever purchase using Bitcoin on May 22nd, 2010. He bought a couple of pizzas for 10000 Bitcoin. However, the pizzas weren’t directly bought using Bitcoin. Laszlo paid a user on the Bitcoin forum who ordered him a couple of Papa John’s pizzas.
Now, after a decade, Bitcoin is soaring towards a high where 1 BTC will be equal to $10000. It was only three years ago when Bitcoin reached the 250 millionth transaction mark, seven years after it was officially used.
However, it took only three more years to reach the latest milestone. By going at the current rate, it would take less than three years for Bitcoin to register its one-billionth transaction.
This milestone prompted twitter user hodlonaut made a tweet saying,
500 million transactions confirmed on the Bitcoin blockchain.
Bitcoin isn't talking about this. Or about how revolutionary and unprecedented its traits of censorship resistance and immutability are.
Bitcoin just is. And does.
One block at a time.— hodlonaut 80 IQ 13%er 🌮⚡🔑 🐝 (@hodlonaut) February 5, 2020
Bitcoin has indeed been censored, and at places, they are still invalid. However, it didn’t stop people from using them. Now, as half a billion transactions using Bitcoin has been made, it is only a matter of time when Bitcoin becomes widely accepted as a currency, and we could actually buy pizzas using Bitcoin.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
