Bitcoin mining pool F2Pool memorialized Coinbase’s first day of public trading with a nod to Bitcoin’s Genesis Block, encoding the text “NYTimes 10/Mar/21 House Gives Final Approval to Biden's $1.9T Pandemic Relief Bill” into the first Bitcoin block it mined yesterday.
The message was taken from a New York Times headline reporting a recent stimulus package that would necessitate rampant money printing. It echoes the message that Bitcoin’s pseudonymous creator Satoshi Nakamoto encoded into the coinbase data of Bitcoin’s first-ever (or “genesis”) block, which read “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks” in reference to a similar headline.
Coinbase announced that it had asked F2Pool to embed the message as a tribute to Bitcoin history. It was encoded at block height 679,187 and is now an immutable part of the Bitcoin blockchain.
As one of the earliest portals for buying bitcoin, Coinbase has been instrumental in BTC adoption. Its public listing, which saw it reach a valuation around $85 billion, is a significant marker of Bitcoin’s growth since its Genesis Block. The fact that a recent headline so closely resembling the one that Satoshi chose could be embedded into the blockchain to mark this occasion is a sign that the world needs Bitcoin now as much as ever.