What is the source of initial transactions of bitcoin?

Sorry, if I am wrong or silly!

It is understood that:

a) Satoshi Nakamoto sent the first transaction to developer Hal Finney on January 12, 2009, the genesis block contains 1,073 transactions and he got 50BTC as block reward, which is non spendable by design.

b) Coins are mined during block publishing.

c) A coinbase transaction must be 100 blocks deep before you can spend its outputs

d) Coins don't merge

e) For each transaction, sender should have group of input coins, whose sum should be greater than equal to sum of transaction amount and transaction fee.

What is the total amount of all those transactions and how they got BTCs for the initial transactions?

AVA

Posted 2019-01-09T11:26:05.740

Reputation: 113

New Bitcoin are only created when a new block is mined. The new coins are collected as "subsidy" reward from the successful miner. The miner reward can be found in the coinbase transaction, which is always the first transaction in a block. The coinbase is constructed similarly to other transactions, but doesn't reference any previous output. But since its outputs have non-zero amounts, coins are created with the coinbase. Search for other coinbase-related questions, there are several related ones. – James C. – 2019-01-09T11:31:59.447

2Re: ”the genesis block contain 1,073 transactions”, this is false. The genesis block only includes an (unspendable) coinbase transaction. The payout address for that coinbase transaction has been sent many transactions since then, but they would have been included in subsequent blocks. – chytrik – 2019-01-09T19:42:56.780

Statement : "The genesis block has received 1,073 transactions..." Reference: https://news.bitcoin.com/bitcoins-quirky-genesis-block-turns-eight-years-old-today/

– AVA – 2019-01-14T08:29:26.053

@AVA that statement is technically incorrect; it should read "the bitcoin address from the genesis block coinbase transaction has been the recipient of 1,073 transactions to date..". Saying "a block received a transaction" makes no sense. A block contains transactions, it does not receive them. The genesis block had just one single transaction in it. See: https://blockstream.info/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

– chytrik – 2019-01-16T11:11:40.570

Answers

What is the total amount of all those transactions

You can see Bitcoin's genesis block here:

https://en.bitcoin.it/wiki/Genesis_block

You can easily examine early blocks by using the block height in any blockchain explorer. For example here

how they got BTCs for the initial transactions?

Mined blocks can be empty (contain no transactions other than the "coinbase" mining reward). I guess this can be the case when the mempool is empty or when all the pending transactions therein have unattractive fees.

RedGrittyBrick

Posted 2019-01-09T11:26:05.740

Reputation: 4 815

The genesis block is block 0: block 0

-the reward went to the address 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa.

The first regular transaction (from Nakamoto to Finney) is in block #170

txhash=f4184fc596403b9d638783cf57adfe4c75c605f6356fbc91338530e9831e9e16

-sent from 12cbQLTFMXRnSzktFkuoG3eHoMeFtpTu3S to 1Q2TWHE3GMdB6BZKafqwxXtWAWgFt5Jvm3 with the change being deposited back to the sending address. These coins were over 100 confirms.

The 1073 transactions you are talking about was probably correct at the time of writing, but they are talking about the number of transactions sending coins to the address in the genesis block over the life of bitcoin.

-There have been 1,508 transactions (as of right now) which sent coins to the address in the genesis block, so now that address holds 66.91839465 BTC, 50 of which were from the genesis transaction. That means there have been 16.91839465 BTC sent to it. (1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa)

lavajumper

Posted 2019-01-09T11:26:05.740

Reputation: 21