As you become more familiar with how Bitcoin transactions work, it can help make the abstract functions of mining, confirmations and the movement of value become more tangible. It can also put the history of Bitcoin at your fingertips.
A cross-section of a tree trunk includes rings that not only show the tree’s age, but key events throughout the tree’s life, such as environmental events that hindered or boosted its growth.
When you learn how to query a blockchain, you have the same ability to dip into its history. Here, for example, is the TxID of the first ever commercial bitcoin transaction. The famous purchase of a pizza on May 22, 2010 for 10,000 bitcoin by Laszlo Hanyecz.
You can see the Inputs into the transaction and the single Output. The value at the time is recorded as €0.00 because there were no exchanges and therefore no price history.
The fee was 0.99 BTC which is the equivalent of €47,000.
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