Bitcoin began as a response to fear.
On January 3rd, 2009, #SatoshiNakamoto launched the #Bitcoin network and embedded a warning inside its very first block, a newspaper headline about another looming bank bailout. The journalist behind those words, Francis Elliot (@elliottengage on X), later discovered his headline had become part of financial history and was anonymously sent Bitcoin in response.
Every creation has a genesis moment. Bitcoin’s came with symbolism, mythology, and intent, but underneath it all, it was a network launch. At 18:15:05 UTC, #Satoshi mined block 0, awarding 50 BTC to the very first address. Bitcoin was empty, quiet, and inhabited by its unseen creator.
The most famous part of the #genesisblock isn’t technical, though its hash beginning with two extra hex zeroes suggests Satoshi mined it with extra care. What matters is the embedded message:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
On the surface, it was a timestamp. In reality, it was a manifesto. A statement that Bitcoin would be everything the legacy system was not: verifiable, auditable, transparent, and immune to bailouts.
Physical copies of that issue of The Times have since become collectors’ items.
Francis Elliot recalls tweeting his surprise after learning his headline had been encoded into the block. “Then a load of #bitcoiners reacted,” he said, “and threw me some coins, which I had the good sense to save.”
Another curiosity: the 50 BTC block reward from the genesis block can never be spent. While some consider it an accident, it is far more likely to have been deliberate, a signal that #Satoshi wasn’t doing this for personal gain. The genesis block was his pledge never to cash out.
In the years since, the block has taken on a life of its own. Satoshi’s first address has become a message board, with people sending tiny amounts of BTC and OP_RETURN messages in tribute. Analysts study the block for symbolism, easter eggs, and clues about Satoshi’s intentions.
It remains the emptiest block in Bitcoin history, and one of the most meaningful.
We explore this story in “In the Beginning, Satoshi Created Bitcoin,” accompanied by artwork from Federico Clapis (@FedericoClapis on X). The piece is scratch-reveal and appears in the History of Bitcoin Collector’s Book and on our interactive timeline.
Read the full article:
https://www.historyofbitcoin.io/timeline/in-the-beginning-satoshi-created-bitcoin
