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The Bitcoin Genesis Block

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The Bitcoin Genesis Block

Cheer up fellas! Take a break from all FUD's and remember Lord Satoshi's vision.

On 31st October 2008, Satoshi Nakamoto authored a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System and the link to it was posted to a cryptography mailing list, thereby planting the seeds in the creation of magical internet money known as Bitcoin.

This paper from Satoshi Nakamoto would come to be known as the Bitcoin whitepaper.

https://preview.redd.it/swqj6yxqzfqa1.jpg?540&format=pjpg&auto=webp&s=33c8bdc1c095072351a0ef4baa82e7c251f6e6e9

The Bitcoin network came into existence on 3rd January 2009 when Satoshi Nakamoto created block zero of the blockchain β€” the genesis block. Embedded within the coinbase of this block was the following text.

The Times Jan/03/2009 Chancellor on brink of second bailout for banks

This note references a headline published by The Times and has been interpreted as both a timestamp and a comment on the instability caused by fractional-reserve banking.

submitted by /u/BananoBoyz
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