The First Execution: How Bitcoin’s High Priest Sacrificed CoiledCoin to the Hash Gods

The Birth of Crypto Darwinism and the Resurrection of $CLC

The year was 2012.

Satoshi Nakamoto had vanished into the digital void only a year prior. There were no exchanges like Binance. No influencers. No laws. Bitcoin was the Wild West, a lawless frontier ruled by code and chaos.

In this primordial soup, altcoins began to crawl out of the mud. Most were harmless clones. But one project, CoiledCoin (CLC), made a fatal mistake: it tried to exist in the same space as the apex predator.

And so, it became the victim of the first-ever recorded execution in blockchain history.

The Zealot and The Heretic

To understand the death of CoiledCoin, you must understand its executioner: Luke-Jr.

A brilliant Bitcoin core developer and a devout Catholic, Luke-Jr viewed Bitcoin not just as software, but as a singular truth. To him, altcoins that merely copied Bitcoin’s code were not “innovation” — they were spam. They were parasites clogging the network.

CoiledCoin was just another “scrypt-based” clone, trying to attract miners. It wasn’t malicious. It wasn’t a rug pull. It was simply… weak.

And in the eyes of a maximalist, weakness is a capital offense.

The 51% Purge

In January 2012, the execution began. It wasn’t a hack. It wasn’t a bug exploit. It was a display of raw, brute force.

Luke-Jr controlled Eligius, one of the largest Bitcoin mining pools at the time. He decided to redirect his massive hash power toward the tiny CoiledCoin network. But he didn’t mine it to support it.

He mined it to kill it.

1. The Reorg: With over 51% of the network’s power, Luke-Jr began to rewrite history. He orphaned valid blocks.
2. The Stranglehold: He mined empty blocks, refusing to process any transactions. The network froze.
3. The Double Spend: He proved that the chain was insecure by reversing transactions.

Users watched in horror as their coins vanished, reappeared, and vanished again. The blockchain, supposed to be immutable, was being erased in real-time.

When accused of attacking the network, the response from the maximalist camp was chillingly simple:

“This is not an attack. This is a stress test. If a coin cannot survive the hash power of the open market, it does not deserve to exist.”

Crypto Darwinism: Survival of the Fittest

CoiledCoin died that day. It was suffocated in the mempool, its body left as a warning to other chains.

This event gave birth to a philosophy we now call Crypto Darwinism.

The blockchain is nature, red in tooth and claw. There is no mercy for the inefficient. Only the strongest chains survive. CoiledCoin was the sacrificial lamb that taught us the true meaning of “permissionless.”

2026: The Resurrection ($CLC)

For 14 years, the ghost of CoiledCoin has haunted the archives of Bitcointalk. A relic of a forgotten war. A symbol of what happens when you are too weak to defend yourself.

But some things refuse to stay dead.

We are bringing CoiledCoin back. Not as a competitor to Bitcoin — Bitcoin won that war long ago — but as a monument to history. A reminder of the brutality of the early days.

$CLC is the resurrection.

We are the survivors of the reorg. We are the glitches in the system. We embrace the chaos that killed us.

• Ticker: $CLC
• CA: CLCq8WaMzQ569CWfXPbWz9ar4fqosPUb2KmURZJJTcjN
• Origin: Executed in 2012. Resurrected in 2026.
• *Philosophy:* “The Blockchain remembers everything. Even the murders.” They could reorg the blocks, but they couldn’t wash away the blood. $CLC is the evidence they tried to burn.

Philosophy: What is dead may never die.

The Reorg is over. The revival has begun.

Original 2012 Bitcointalk Thread

Reddit Thread