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      "parent_author": "",
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      "author": "qudus0",
      "permlink": "the-genesis-block-crypto-academy-s5-homework-post-for-task-3",
      "title": "The Genesis Block - Crypto Academy S5 - Homework Post for task 3",
      "body": "![E9E88B66-45ED-4C6D-BD6F-1112A6D0A29D.png](https://cdn.steemitimages.com/DQmPeNC1FMe2f1pZoev2NLShKEyRacueybLGH5TDQyoRVMR/E9E88B66-45ED-4C6D-BD6F-1112A6D0A29D.png)\n\n\n-----\n------\n\n### <center>2a) Who is Satoshi Nakamoto? b) Explore the Coinbase Transaction of the Bitcoin Genesis block. c) Find and decrypt Satoshi’s secret Hex message. What do you think the message means?</center>\n\n-----\n------\n\n#### <center>Who is Satoshi Nakamoto?</center>\n\n------\n------\n\n<div class=\"text-justify\">\n\n\nWhen asked who is Satoshi Nakamoto, it is not possible to indicate a person as the answer to this question. It's probably a nickname anyway, and maybe more than one person could be Satoshi. But rather than just who Satoshi Nakamoto is, we need to talk about why he's so important in the Crypto world.\n\n\n\nSource\nSatoshi Nakamoto is the person(s) who introduced us to cryptocurrency. He created the first Bitcoin and wrote the Bitcoin White Paper. I think even this sentence is enough to explain how important he is. In 2008, Satoshi published the Bitcoin white paper titled \"Bitcoin: A Peer-to-Peer Electronic Cash System\" and created bitcoin.com domain in the same year. In 2009, the first Bitcoin block was mined by Satoshi. This first block mined is called the Genesis block. If we think of Bitcoin as a book, we can think of each block mined as a page of that book. In this case, the Genesis block is the first page of the book.\nThere are many conspiracy theories about who Satoshi Nakamoto is. Although we do not know who he is, he has made a great revolution by creating Bitcoin.\n\n-----\n------\n\n#### <center>Explore the Coinbase Transaction of the Bitcoin Genesis block.</center>\n\n------\n------\n\nBitcoin Genesis is the first block to be mined as answered in the previous question. In order to search in detail about the Genesis Block, we first need the hash of this block. I went to https://www.blockchain.com/ to see these transaction details. After entering the hash of this Genesis Block in the search button, I reached the transaction details.\n\n\n![717B1633-59E7-43CF-A673-16D235CAB729.jpeg](https://cdn.steemitimages.com/DQmYeVL51iyMqSC6Hb9Gy4X8rHBtLMDJ89tRaMt3W4HuT4j/717B1633-59E7-43CF-A673-16D235CAB729.jpeg)\n\n<center><sup>Screenshot from official blockchain [website](https://www.blockchain.com/btc/block/0)</sup></center>\n\nThis block appears to have been mined by an unknown person at the time of January 03, 2009, at 9:15 PM GMT+3. The block reward is 50 BTC.\n\nWe can reach the address where the block reward (50 BTC) was sent (see the below picture). We see that 3,033 transactions have been made and the address has 68.52179167 BTC. From here, we can deduce that a certain amount of BTC was sent to this address. Other transactions most likely made are Bitcoins that people sent to thank Satoshi Nakamoto for this era-changing invention.\n\n\n\n![E6CBC1AE-B1E3-4940-BD9E-8556CBFDD42F.jpeg](https://cdn.steemitimages.com/DQmW9u8AEgLtB4ZPv7paSKZ5fQTrxbYCXfEi1oACUksCcw7/E6CBC1AE-B1E3-4940-BD9E-8556CBFDD42F.jpeg)\n\n<center><sup>Screenshot from official blockchain [website](https://www.blockchain.com/btc/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa)</sup></center>\n\n![7D7CEEA4-0275-48AE-B54E-3297FFD0A21B.jpeg](https://cdn.steemitimages.com/DQmTN7G8EA5GUoCmtsXcXYUNXu5b5oTaydFobqsfdoEZD8P/7D7CEEA4-0275-48AE-B54E-3297FFD0A21B.jpeg)\n\n<center><sup>Screenshot from official blockchain [website](https://www.blockchain.com/btc/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa)</sup></center>\n\n------\n------\n\n#### <center>c) Find and decrypt Satoshi’s secret Hex message. What do you think the message means?</center>\n\n-----\n------\n\nThis is where to find Satoshi’s secret Hex message, go to Genesis block .\nSatoshi Nakamoto is most likely a genius. Although we do not know who he is, he left us some secret messages. We can see this secret message as Hexadecimal base in the input tab in www.blockchain.com.\n\n![9115B02B-908F-4014-AD4B-844F839238F8.jpeg](https://cdn.steemitimages.com/DQmW6wfYTbNJ5jnDuxFk4BCBZCcN4bbjqEQES4JtSNF9mqh/9115B02B-908F-4014-AD4B-844F839238F8.jpeg)\n<center><sup>Screenshot from official blockchain [website](https://www.blockchain.com/btc/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa)</sup></center>\n\n------\n\nGo to **inputs**, the is a secret message in Hexadecimal base, copy.\n\n\n![91C79F91-02F2-4E7F-87F5-B531F256DDE1.jpeg](https://cdn.steemitimages.com/DQmU43PKfUQMwnxWnUyEBJ8egM4bKBfspjWyFNzDDHTQQnP/91C79F91-02F2-4E7F-87F5-B531F256DDE1.jpeg)\n\n<center><sup>Screenshot from official blockchain [website](https://www.blockchain.com/btc/tx/4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b)</sup></center>\n\n\n------\n\n\nuse this [tool](http://dolcevie.com/js/converter.html) to decrypt the message. Paste in your **HEX** address bar. Click **Hex to ASCII**.\n\n\n\n![F074B979-9E77-4F06-9829-5294E9083839.jpeg](https://cdn.steemitimages.com/DQmSaQGZJCh4AEsVC4gEsG6gf4A7ssK6YwSDxQuewT22oTZ/F074B979-9E77-4F06-9829-5294E9083839.jpeg)\n<sup>[source](http://dolcevie.com/js/converter.html)</sup>\n\n\nThe message dear Satoshi Nakamoto left us is \"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks\". Even though I couldn't understand the meaning of the message at first reading, I found interesting information with a little research. When we google the message, we see that the same headline was posted in The Times newspaper on 3rd of January, 2009. This was also the date the Genesis Blok was first mined.\nIt is not known exactly what Satoshi Nakamoto intended by sharing this message. There are many speculations about this subject. The general opinion is that Satoshi wanted to emphasize the failure of the traditional banking system. We can also conclude that Satoshi is also closely interested in finance, apart from his knowledge of coding.\n\n-----\n-----\nThank you.@qudus0\n\n</div>",
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