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Were bitcoin's first 2009 trades just people sending coins, or real swaps?
Research question: What were the first bitcoin transactions after the network launched in January 2009, and were they transfers between people or real exchanges of value?
The first peer-to-peer transaction was sending bitcoin from one public address to another, at block 170 on 12 January 2009 1. It was a transfer of 10 bitcoins from Satoshi Nakamoto to Hal Finney, described as a transfer between two people rather than an exchange for goods or money 23. Before that, the early blocks held only coinbase transactions that created 50 BTC as miner rewards 4. The transfer was probably a test of whether the software and ledger worked, not an exchange of goods or services 78. Because bitcoin had no market value then, the 10 BTC carried no real value, so the transfer was not an exchange of real value 418.
Checked 2026-10-23. Only documented and supported facts are used.
Dig deeper on this questionSources
[1] supported
The first P2P transaction on Bitcoin, sending BTC from one public address to another, occurred at block 170 on 12 January 2009.
"The first P2P transaction by which BTC was sent from one public address to another occurred at block 170 , on 12 January 2009, or seven days before block 1,018, and one day after Finney installed his Bitcoin client."Bitcoin: the signature of block 1,018 is Hal Finney's
[2] supported
The world's first bitcoin transaction was a transfer of 10 bitcoins from Satoshi Nakamoto to early supporter Hal Finney, which was a transfer between two people rather than an exchange for goods or money.
"received 10 bitcoins from Nakamoto in the world's first bitcoin transaction on 12 January 2009 (block 170)."History of bitcoin
[3] supported
The first Bitcoin transaction was a transfer of 10 bitcoins from Satoshi Nakamoto, Bitcoin's pseudonymous creator, to Hal Finney, an American software developer.
"Bitcoin's creator, known only by the pseudonym Satoshi Nakamoto, transferred 10 bitcoins to Hal Finney, an American software developer."First Bitcoin transaction
[4] supported
The first blocks were mined without any transactions other than coinbase transactions, which created 50 BTC as a miner reward, and at that time BTC had no market so its value was zero.
"In fact, it should be mentioned that the first blocks were mined by Satoshi and Hal Finney without any transactions other than coinbase transactions with which 50 BTC were created as a reward for the miners. After all, at that time BTC had no market, so its value was zero."Bitcoin: the signature of block 1,018 is Hal Finney's
[5] supported
One of the first bitcoin miners was James Howells, who later lost thousands of bitcoins to a landfill in Newport.
"One of the first miners included James Howells , who subsequently lost thousands of Bitcoin to a landfill in Newport ."History of bitcoin
[6] supported
The first Bitcoin transaction was 10 BTC sent on January 12, 2009, and it was confirmed at block height 170.
"The first transaction was 10 $BTC sent on Jan. 12, 2009, and it was confirmed at block height 170."Recently Signed 2009 Bitcoin Block Reward Linked to Hal Finney's Set of BTC Transactions
[7] supported
The first transaction was a test to check whether the Bitcoin client worked and whether the blockchain ledger updated correctly, rather than an exchange of goods or services.
"The transaction was a test to see if the client worked, and that the "blockchain" distributed ledger updated correctly."First Bitcoin transaction
[8] supported
The first transaction was 10 BTC sent, probably for testing, by Satoshi Nakamoto to Hal Finney, who thus received the coins.
"That transaction is famous, and it is known that it was 10 BTC sent probably for testing by Satoshi Nakamoto to Hal Finney."Bitcoin: the signature of block 1,018 is Hal Finney's
[9] supported
The first transaction on the Bitcoin network was Satoshi Nakamoto transferring 10 BTC to Hal Finney at block 170.
"This historic moment at block 170 saw Satoshi transfer 10 BTC to computer scientist Hal Finney, making him the recipient of the Bitcoin first transaction."Satoshi's First Move: 16 Years of Bitcoin's Legacy - U.Today
[10] supported
The first bitcoin transaction of 10 BTC was sent from Satoshi Nakamoto to Hal Finney, a person, which is a transfer between individuals.
"Block 1,018 and the bitcoin address 1NChf are both linked to the first $BTC transaction that saw 10 $BTC sent from Satoshi Nakamoto to Hal Finney and a great deal of $BTC blocks associated with Finney."Recently Signed 2009 Bitcoin Block Reward Linked to Hal Finney's Set of BTC Transactions
[11] supported
Hal Finney helped Satoshi Nakamoto test and fine-tune the first Bitcoin software, so his receipt of the first transaction was not accidental.
"It is not known whether Finney knew Nakamoto, but it is known that he in fact worked with him on that first Bitcoin software, helping Nakamoto test and fine-tune it."Bitcoin: the signature of block 1,018 is Hal Finney's
[12] supported
The first transaction was described as a peer-to-peer transfer between two parties.
"Satoshi Nakamoto , Bitcoin's pseudonymous creator(s), performed the first peer-to-peer (P2P) transaction on the Bitcoin network."Satoshi's First Move: 16 Years of Bitcoin's Legacy - U.Today
[13] supported
The first known Bitcoin transaction between two people was Satoshi Nakamoto sending 10 bitcoins to Hal Finney, a test to prove the network worked.
"On January 12, 2009, just a few days after the initial public software release, Satoshi Nakamoto sent 10 bitcoins to Hal Finney in a landmark test to prove the network worked."The Bitcoin transaction that changed everything—17 years ...
[14] supported
Apart from the block 9 transactions, nearly all of the bitcoins Satoshi Nakamoto mined in the first 1,025 blocks remained unspent.
"While parsing the first 1,025 mined $BTC blocks, the data shows that nearly every block Nakamoto mined is unspent, except for the block 9 transactions."Recently Signed 2009 Bitcoin Block Reward Linked to Hal Finney's Set of BTC Transactions
[15] supported
The address that received the 10 BTC from Satoshi had its last outgoing transaction on 6 September 2017, long after Finney's death, showing someone else controlled it.
"After all, the last outgoing transaction made from the address that received the 10 BTC from Satoshi in block 170 is dated 6 September 2017, so well after Finney's death."Bitcoin: the signature of block 1,018 is Hal Finney's
[16] supported
The first transaction cost nothing in fees, which was common in the early days of Bitcoin.
"As was common in the early days, the transaction cost 0 BTC."Satoshi's First Move: 16 Years of Bitcoin's Legacy - U.Today
[17] supported
The 10-bitcoin transaction from Satoshi to Finney was recorded at Block #170.
"His 10-coin transaction with Satoshi came at Block #170, meaning Finney likely already had quite a stash by that time (at least, by today’s standards)."The Bitcoin transaction that changed everything—17 years ...
[18] supported
The 10 BTC Finney received had no market value in 2009, so the transfer was not an exchange of real value at the time.
"Finney received 10 BTC from Satoshi , which would have been worth zero dollars in 2009."Satoshi's First Move: 16 Years of Bitcoin's Legacy - U.Today
[19] supported
Hal Finney was the first person other than Satoshi to express enthusiasm for Bitcoin and possibly the first to start a mining node on the new network.
"Hal Finney was the first person, other than Satoshi, to express enthusiasm for Bitcoin, and possibly the first individual, other than Satoshi, to start a mining node on the brand-new Bitcoin network."The Bitcoin transaction that changed everything—17 years ...
[20] supported
The Genesis Block rewarded 50 BTC, but those coins can never be spent.
"Similar to subsequent Bitcoin blocks, it rewarded 50 BTC, but this can never be spent."Satoshi's First Move: 16 Years of Bitcoin's Legacy - U.Today
[21] supported
Finney said he began mining around Block 70-something, before his transaction with Satoshi.
"According to the man himself, he began mining “around Block 70-something”."The Bitcoin transaction that changed everything—17 years ...