Development of bitcoin Nakamoto has stated that work on the writing of the code for bitcoin began in 2007.[8] On 18 August 2008 he or a colleague registered the domain name bitcoin.org,[9] and created a web site at that address. On 31 October 2008, he published a paper on the cryptography mailing list at metzdowd.com describing a digital cryptocurrency, titled "Bitcoin: A Peer-to-Peer Electronic Cash System".[10][11][12] Satoshi Nakamoto message embedded in the coinbase of the first block On 9 January 2009, he released version 0.1 of the bitcoin software on Sourceforge, and launched the network by mining the genesis block of bitcoin (block number 0), which had a reward of 50 bitcoins.[13][14][15][16] Embedded in the coinbase transaction of this block was the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks",[17] referring to a headline in the UK newspaper The Times published on that date.[18] This note has been interpreted as both a timestamp of the genesis date and a derisive comment on the instability caused by fractional-reserve banking.[19]:18 Nakamoto continued to collaborate with other developers on the bitcoin software until mid-2010, making all modifications to the source code himself. He then handed over control of the source code repository and network alert key to Gavin Andresen,[20] transferred several related domains to various prominent members of the bitcoin community, and stopped his recognized involvement in the project. Except for test transactions, as of March 2020, Nakamoto's coins remain unspent since mid January 2009. At bitcoin's peak in December 2017, these were worth over US$19 billion, making Nakamoto possibly the 44th richest person in the world at the time.[21] Characteristics and identity Nakamoto has not disclosed any personal information when discussing technical matters.[22] He provided some commentary on banking and fractional-reserve banking. On his P2P Foundation profile as of 2012, Nakamoto claimed to be a 37-year-old male who lived in Japan,[23] but some speculated he was unlikely to be Japanese due to his native-level use of English[22] and his bitcoin software not being documented or labelled in Japanese. Some have considered that Nakamoto might be a team of people: Dan Kaminsky, a security researcher who read the bitcoin code,[24] said that Nakamoto could either be a "team of people" or a "genius";[25] Laszlo Hanyecz, a developer who had emailed Nakamoto, had the feeling the code was too well designed for one person.[22] Gavin Andresen has said of Nakamoto's code: "He was a brilliant coder, but it was quirky."[26] The use of British English in both source code comments and forum postings – such as the expression "bloody hard", terms such as "flat" and "maths", and the spelling ... https://www.youtube.com/watch?v=GTUdqyCp9p8

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