$BTC Happy Genesis block, today marks 16 years since the first block was mined. Thank you Satoshi 🍾 The genesis block has a unique function in the blockchain. It is the foundation upon which all other blocks are built. It is also the only block in a blockchain that does not reference a predecessor block. In most cases, the first mining rewards unlocked by the genesis block cannot be spent. Genesis blocks often contain interesting stories or hidden meanings. For example, the Bitcoin genesis block contains the now famous message “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”. This message is a reference to the deteriorating financial conditions at the time and the justification for the creation of Bitcoin.