More than 12 years after the bitcoin network came into existence with the creation of genesis block, bitcoin miners reached a new milestone of producing the 700,000th block on Sep 11, marking a major milestone for a network whose detractors claim it has stalled 428 times since 2009. The phase bitcoin obituary is colloquially used to refer to the number of times Bitcoin has been declared to be worthless or dead in articles, news, or blogs, etc.
— Pieter Wuille (@pwuille) September 11, 2021
Block after block, Bitcoin highlights the power of programmable monetary policy even as calls for its death grow louder. With the bitcoin frenzy continuing to attract investors, the virtual currency took less than two years to reach the latest milestone from the previous 600,000-mark on October 18, 2019, which also took less than two years from the 500,000th block mined on December 19, 2017. Back on December 29, 2010, Bitcoin reached its 100,000th block. The historic 700,000th block was mined by an unknown miner who earned a total Bitcoin block reward of $287,540.