Odaily News Corn Co-founder Zak Cole published on the X platform that Bitcoin was created out of thin air due to a bug on August 15, 2010, with approximately 184 billion BTC. This “value overflow event” caused two wallets to receive about 92.2 billion BTC. Satoshi Nakamoto and several other developers (including Jeff Garzik and Gavin Andresen) launched a new client version with a soft fork five hours later to prevent similar incidents in the future. All nodes upgraded at block 74691, and the new chain replaced the old chain.
Zak Cole stated that this event illustrates that the scarcity of Bitcoin is actually protected by people, not code. The only reason Bitcoin did not perish that day was because someone noticed the issue and released a fix, which removed the invalid blocks from consensus within five hours. Bitcoin was saved not because of the protocol, but because of the people running the protocol; this is the truth behind the “decentralization” narrative. Code did not save Bitcoin; the community saved Bitcoin.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
