# Rabbithole week 2 By [mretherean](https://paragraph.com/@mretherean) ยท 2023-05-24 --- Satoshi Nakamoto (born 5 April 1975) is the name used by the presumed [pseudonymous](https://en.wikipedia.org/wiki/Pseudonym) person or persons who developed [bitcoin](https://en.wikipedia.org/wiki/Bitcoin), authored the bitcoin [white paper](https://en.wikipedia.org/wiki/White_paper), and created and deployed bitcoin's original [reference implementation](https://en.wikipedia.org/wiki/Reference_implementation). As part of the implementation, Nakamoto also devised the first [blockchain](https://en.wikipedia.org/wiki/Blockchain) database.[\[6](https://en.wikipedia.org/wiki/Satoshi_Nakamoto#cite_note-te20151031-6)Nakamoto was active in the development of bitcoin up until December 2010. There has been widespread speculation about Satoshi Nakamoto's true identity, with a variety of people posited as the person or persons behind the name. Though Nakamoto's name is Japanese, and he stated in 2012 that he was a man living in Japan, most of the speculation has involved software and cryptography experts in the United States or Europe. Development of bitcoin Satoshi Nakamoto message embedded in the coinbase of the first block Nakamoto stated that work on the writing of the code for [Bitcoin](https://en.wikipedia.org/wiki/Bitcoin) began in 2007.18 August 2008, he or a colleague registered the domain name bitcoin.org,and created a web site at that address. On 31 October, Nakamoto published a [white paper](https://en.wikipedia.org/wiki/White_paper) on the cryptography mailing list at metzdowd.com describing a digital [cryptocurrency](https://en.wikipedia.org/wiki/Cryptocurrency), titled "Bitcoin: A Peer-to-Peer Electronic Cash System". On 9 January 2009, Nakamoto released version 0.1 of the Bitcoin software on [SourceForge](https://en.wikipedia.org/wiki/SourceForge), and launched the network by defining the [_genesis block of bitcoin_](https://en.wikipedia.org/wiki/Bitcoin#Blockchain) (block number 0), which had a reward of 50 bitcoins.Embedded in the [coinbase transaction](https://en.wikipedia.org/wiki/Bitcoin#Supply) of this block is the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks", citing a headline in the UK newspaper [_The Times_](https://en.wikipedia.org/wiki/The_Times) published on that date.This note has been interpreted as both a [timestamp](https://en.wikipedia.org/wiki/Timestamp) and a derisive comment on the alleged instability caused by [fractional-reserve banking](https://en.wikipedia.org/wiki/Fractional-reserve_banking). --- *Originally published on [mretherean](https://paragraph.com/@mretherean/rabbithole-week-2)*