On August 18, 2008, the domain name bitcoin.org was registered. Later in the same year, on October 31, a link to an article written by Satoshi Nakamoto named Bitcoin: A Peer-to-Peer Electronic Cash System was posted on a mailing list for cryptography. This paper details the methods of using a peer-to-peer network to generate what has been described as “a system of unsecured electronic transactions” . On January 3, 2009, Satoshi Nakamoto created the bitcoin network. We can read the following text data in the genesis block: The Times 03 / Jan / 2009 The Chancellor is about to benefit from the second bailout of banks.

The text refers to a title in The Times published on January 3, 2009. This note has been interpreted both as a timestamp of the genesis date and as a derisory commentary on the instability caused by the fractional reserve banking system. The first open source bitcoin client was released on January 9, 2009, hosted at SourceForge. The programmer Hal Finney was one of the early supporters, adopters, bitcoin contributors and recipient of the first bitcoin transaction. Finney downloaded the bitcoin software the day it was released and received 10 bitcoins from Nakamoto at the world’s first bitcoin transaction on January 12, 2009.