Eleven years ago today, the Bitcoin community lost Hal Finney—cryptographer, cypherpunk, and one of the protocol’s earliest builders. Finney passed away at 58 after a battle with ALS on August 28, 2014. True to his futurist outlook, his family arranged cryopreservation with the Alcor Life Extension Foundation years in advance, a choice that still sparks conversation about science, hope, and time.
The First Transaction That Made Bitcoin Real
Finney didn’t just talk about digital money—he ran the code. On January 12, 2009, he received 10 BTC from Satoshi Nakamoto, the first recorded Bitcoin transaction. The moment followed his now-famous “Running bitcoin” tweet, a simple note that told the world the software was live and humming. That transfer did more than move coins; it moved the idea of Bitcoin from theory to practice and gave early users a reason to keep building.
From PGP to RPoW: Bridging Cypherpunk Ideals and Crypto
Long before Bitcoin, Finney helped everyday people protect their privacy. He worked on Pretty Good Privacy (PGP) with Phil Zimmermann, which made strong encryption accessible beyond experts. In 2004, he launched Reusable Proofs of Work (RPoW), a clever prototype that hinted at features we now take for granted in digital cash. These efforts positioned Finney as a translator between cypherpunk ideals and the emerging cryptocurrency world—someone who could turn big ideas into working code.
Here’s what made his approach so durable:
- He shipped early and often. Finney tested, debugged, and contributed code when Bitcoin was fragile and unproven.
- He treated mailing-list debates as a starting point, not an end. If a concept sounded promising, he tried it.
- He focused on privacy and practicality. PGP and RPoW showed he valued both user rights and real-world usability.
- He kept an open mind. New ideas got a fair shake, even when they challenged assumptions.
A Legacy That Still Guides Builders
Finney’s influence didn’t end in 2014. In 2018, Alcor created the Hal Finney Cryonics Research Fund to advance cryopreservation science. Inside crypto, developers still cite his blend of curiosity and rigor as a model for how to ship resilient systems. Each anniversary becomes a checkpoint: Are we testing in public? Are we improving the tools people actually use? Are we balancing vision with humility?
Today’s market moves fast and loud. Finney moved quietly and consistently. He showed that progress happens when people pair clear principles with functioning code. That first 10 BTC was more than a transaction—it was a proof that Bitcoin could work in the real world. Builders who follow that path keep his spirit alive.
RIP, Hal. “Running bitcoin,” indeed.
