Hi everyone,
I have read that the first 50 BTC block reward went to address 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa, but this reward can not be spent due to a quirk in the way the genesis block is coded. Can someone explain what this quirk is and why it prevents the reward from being spent?
The quirk in the Bitcoin Genesis Block that prevents the first 50 BTC reward from being spent is due to the way the block is hardcoded into the Bitcoin software. Specifically, the Genesis Block is unique because it does not reference any previous block, which is a requirement for validating transactions in subsequent blocks.
This quirk essentially makes the first 50 BTC a symbolic reward rather than a spendable one.
It is locked but it is still a block.
The quirk in the Bitcoin Genesis Block reward is that it can’t be spent. Satoshi Nakamoto mined the first block (Genesis Block), which includes a 50 BTC reward, but due to a unique code condition, these coins are unspendable.