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# Kicking the Hornet’s Nest
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### The Complete Writings, Emails, and Forum Posts of Satoshi Nakamoto, the Founder of Bitcoin and Cryptocurrency
Third Edition
Mill Hill Books
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### Kicking the Hornet’s Nest: The Complete Writings, Emails, and Forum Posts of Satoshi Nakamoto, the Founder of Bitcoin and Cryptocurrency
Copyright © 2019 Mill Hill Books. All rights reserved.
Third edition copyright © 2024 Mill Hill Books. All rights reserved.
Published by Mill Hill Books
ISBN 978-0-359-32744-7
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It would have been nice to get this attention in any other context. WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us.
- *Satoshi Nakamoto, December 11, 2010, 23:39:16 UTC*
_This statement was in reference to an article by PC World. It can be accessed at_ [_https://www.pcworld.com/article/213230/could_wikileaks_scandal_lead_to_new_virtual_currency.html_](https://www.pcworld.com/article/213230/could_wikileaks_scandal_lead_to_new_virtual_currency.html)_._
_Two days later, Satoshi Nakamoto disappeared from making further public postings._
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_**Sources:**_
- [_https://satoshi.nakamotoinstitute.org_](https://satoshi.nakamotoinstitute.org/) _- This was the main resource for this book. Their work and organization is priceless._
- [_https://BitcoinTalk.org/_](https://bitcointalk.org/) _- The forum set up by Satoshi._
- [_http://www.metzdowd.com/pipermail/cryptography_](http://www.metzdowd.com/pipermail/cryptography) _- The Cryptography Mailing List was used by the group generally known as “cypherpunks.”_
- [_https://plan99.net/~mike_](https://plan99.net/~mike) _- Personal emails to/from Mike Hearn, publicly shared on the Internet at this site._
- [_https://en.bitcoin.it/wiki/Source:Trammell/Nakamoto_emails_](https://en.bitcoin.it/wiki/Source:Trammell/Nakamoto_emails) _- Personal emails to/from Dustin Trammell (aka Druid) from January 2009. Also, emails from Trammell’s website:_ [_https://www.dustintrammell.com/s/Satoshi_Nakamoto.zip_](https://www.dustintrammell.com/s/Satoshi_Nakamoto.zip)
- [_https://online.wsj.com/public/resources/documents/finneynakamotoemails.pdf_](https://online.wsj.com/public/resources/documents/finneynakamotoemails.pdf) _- Personal emails to/from Hal Finney, publicly shared on this Wall Street Journal site._
- [_https://www.coindesk.com/satoshi-nakamoto-hal-finney-emails_](https://www.coindesk.com/satoshi-nakamoto-hal-finney-emails) _- “Newly discovered emails” revealed in November, 2020, in a CoinDesk article written by Michael Kapilkov._
- [_https://bitcoinmagazine.com/technical/bitcoin-adam-backs-complete-emails-satoshi-nakamoto_](https://bitcoinmagazine.com/technical/bitcoin-adam-backs-complete-emails-satoshi-nakamoto) _which references the COPA case file dump at_ [_https://www.dropbox.com/scl/fo/4y3gdele4foy15006z8ch/h?rlkey=scs42wew1o3vwfv0nduhc43dm&e=1&dl=0_](https://www.dropbox.com/scl/fo/4y3gdele4foy15006z8ch/h?rlkey=scs42wew1o3vwfv0nduhc43dm&e=1&dl=0) _– Personal emails to/from Adam Back previously unseen publicly prior to the February 2024 COPA case._
- [_https://mmalmi.github.io/satoshi/_](https://mmalmi.github.io/satoshi/) _- Personal emails to/from Martii Malmi. These were released publicly by Malmi in February 2024 as part of the COPA case._
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_Notes on the Third Edition_
_One might ask, “Why is there a third edition of Satoshi’s words?” The simple answer is that new, or rather, previously unseen Satoshi writings have emerged publicly._
_The “Hal Finney emails” cited above by CoinDesk in November of 2020 prompted version two of “Kicking.”_
_Then, in February of 2024, the “COPA trial” began with the possible identity of Satoshi Nakamoto at the core of the case. That trial called in individuals who had made early electronic contact with Satoshi to offer witness statements. As a result, new, previously private “Satoshi emails” became public. Hence, here is the Third Edition of “Kicking.”_
_I think that a chronological record of Satoshi’s writings is interesting, useful, and important. To that end, I’m committed to keeping this book freely offered and in several formats. See all the links at_ [_https://hive.blog/@crrdlx/satoshi_](https://hive.blog/@crrdlx/satoshi) _to download a copy._
- _crrdlx, editor_
_February 24, 2024_
[https://hive.blog/@crrdlx/satoshi](https://hive.blog/@crrdlx/satoshi)
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This book is available in print at [https://lulu.com](https://lulu.com/)
Digital versions (pdf, txt) can be obtained for free at [https://hive.blog/@crrdlx/satoshi](https://hive.blog/@crrdlx/satoshi) Visit this site for all links, digital and print.
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_Notes from the Editor (written for the First Edition)_
_Ten years ago, on January 3, 2009, Bitcoin went live. That day, Satoshi Nakamoto generated the first Bitcoin block, which has since come to be known as the “Genesis block.” In the Genesis block, Satoshi encoded the message, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” This was likely to both timestamp the block to the outside world (using the title of the article on the front page of the London’s daily_ The Times, _but, more importantly, to offer a comment. The comment gave insight that was both outward toward the financial system and inward toward Satoshi himself. Any article title could have been chosen as a timestamp. This one was clearly meant to convey a message. Satoshi sent the message that he does not favor banks. More likely, he does not like the fractional reserve banking system and the endless creation of fiat currency that coincides with fractional reserve banking. 2008 and 2009, when Bitcoin was born, were the years of rampant “cash injections,” “stimulus packages,” “quantitative easing,” and “too-big-to-fail” bank bailouts. Bitcoin, with its hard-coded 21 million coin limit, would solve the fiat addiction. Infinite paper money would be replaced by finite numbers written in code._
_What’s more, Satoshi fired a shot across the bow of the financial powers-that-be. Bankers, politicians, and the manipulators of the money supply have not been happy about Bitcoin and cryptocurrency. Ten years in, the powers seem to be warming to the idea a bit—or, at least, they’re beginning to realize the use-cases and the inevitability of crypto. Still, their reluctant “embrace” is very slow and very cautious. I imagine one of the most threatening things to the powerful is to suggest that power be taken from them and then dispersed to the people themselves. Putting power into the hands of the people means saying, “You know what? We the people really don’t need you after all. Have a nice day.” Bitcoin suggests this very thing financially—it gives the power, freedom, and responsibility to the individual. As a boy, my brother and I would occasionally come upon a hornet’s nest while playing in the woods. When we did, being boys, there was really nothing else to do but to throw a rock or stick at it, or kick it. Kicking a hornet’s nest isn’t rational, but just too tempting and just too much fun not to. And when you do it, you do it fast and then you run like hell!_
_Since January 2009, some people have placed an almost religious status onto Satoshi and his writings (the term “Genesis block” serves an example). I do not subscribe to this position, and I discourage anyone from doing so. Satoshi is, or was, a man, or a woman, or a group—as fallible and as human as us all. And, I’m sure he holds just as many hang-ups and weaknesses as anyone else. Applying demi-god status to a mortal man is unfair to that person, and sets one’s self up for disappointment. And yet, Satoshi was very clever. So, I do think his writings, interactions, and thought processes are important, revolutionary, and worth documenting. I realize that all of these words are fantastically preserved and organized on websites, particularly at the Satoshi Nakamoto Institute (_[_https://nakamotoinstitute.org/_](https://nakamotoinstitute.org/)_). Still, having a hard copy for reference or referral may be appealing to some. And, I realize other such books exist already. However, they include_ _most__, but not all, of Satoshi’s writings and they include excellent commentary as well. This book is distinct in that it has the entirety of Satoshi’s work included, is arranged chronologically rather than topically, and offers almost zero commentary. The goals here were to be complete, to build a chronological chain of Satoshi’s words and thoughts, and to allow Satoshi’s words to speak for themselves free from an editor’s interjections. Thus, this book was assembled.
_Following are all of the public writings of Satoshi Nakamoto, the founder of Bitcoin—at least these are all that I could find. They are arranged in chronological order. Many of the writings are very technical. Some are purely code and will read as jibberish to most of us. I debated whether to include these “writings” or not. But, I wished to have a full account of all of Satoshi’s writings, and so, even the code was included. Though unwieldly to read, even they convey a message—Satoshi was focused, businesslike, and pragmatic in his dealings and work. Since many of the writings are in response to others’ comments, and for the sake of revealing the context of Satoshi’s words, there are writings by other people included here as well. However, any non-Satoshi writings_ _are_ _italicized. Satoshi’s writings can be identified by the fact that they are_ _not_ _italicized._
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| Satoshi’s words are not italized. They look like this. |
| _Words by others_ _are_ _italicized. They look like this._ |
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_Compiling these writings was educational to the editor. It seemed to offer insight into Satoshi Nakamoto. Lessons were learnt regarding Satoshi combing through his words, or, at the least, following were my interpretations:_
_Satoshi is polite. He said “Thanks” or “Thank you” several times. Often, an exclamation point was included for emphasis. And, he apologizes when appropriate._
_Satoshi is a good teacher. In the earlier phases especially, he patiently and clearly answers questions one-by-one._
_Satoshi is a clear communicator. His English, grammar, and syntax are nearly flawless. Although he does, on occasion, dabble in textese—he throws in a WTF and an AFAIK—nearly all of his communications are in clear, declarative, complete and correct sentences._
_Satoshi is a fantastic thinker. He is able to think with beautiful logic. He is able to think abstractly in concepts via analogies (such as the Gambler’s Ruin problem in the whitepaper). His more formal logic is seen in his code, naturally, but it is also witnessed in his writings. For example, in a response to theymos, Satoshi simply states, “The premise is false,” then he explains why. As something of an aside, that statement harkens to Ayn Rand’s_ Atlas Shrugged_, _where “check your premises” is an ongoing sub-theme in the novel. For anyone unfamiliar with the book, the phrase does two things. First, it’s a reference to Aristotelian logic of non-contradiction—if two things seem to contradict, they actually don’t, one of them is wrong—check your premises. And secondly, the uber-theme of the novel itself is an indictment of government bailouts very similar to the Chancellor’s brink-of-bailout of January 3, 2009._ Atlas Shrugged _damns governments and powers which purport to know what’s best and act for the people’s best interest, rather than freeing the people to simply act for themselves. I don’t think Satoshi was thinking_ Atlas Shrugged _when he wrote the premise statement to theymos. I believe he was merely thinking clearly. But, the theme of_ Atlas Shrugged_, _and the “theme” of Bitcoin, certainly do seem to coincide with those words._
_Satoshi likes to double-space after a sentence is complete. This was the standard taught to typing or keyboarding students up until roughly the year 2000. Stylometry, studying a person’s literary quirks in writing, has been a ripe field for pondering the identity of Satoshi Nakamoto. It may be a stretch, but with few clues, this double-space idiosyncrasy has often been noted in places like /r/Bitcoin on Reddit. There has also been discussion about Satoshi’s tendencies toward British spellings of words, such as cheques for checks, neighbours for neighbors, decentralised or formalised with an s rather than a z, or use of the word “bloody.” Some say these British tendencies were for obfuscation—to fake the world. I personally think there is something to the British influence. His British usage reads very organicly and unforced. I interpret that Satoshi indeed had some British-influenced upbringing (e.g., Britain, or Canada or Australia or a British Caribbean island). Like micro-expressions in facial body language, wording, in organic thought or writing, becomes hard-coded. To_ _not_ _release those tendencies would require constant and extreme discipline. Of course, Satoshi just might well have those qualities and fool me right there! Regarding double-spacing, I tend to believe that the double-spacing may well hint at Satoshi’s age…he most likely learned to type when double-spacing after a period was standard. Revolutionary ideas have often come in history from people in their 20s or early 30s, but in this case, that seems too young. Typing this specific way, given the revolutionary thoughts for Bitcoin, and the technical skill acquired and necessary to create the code, as well as the polish in writing, Satoshi was likely not young when working on Bitcoin. Purely speculating, I would guess that he was likely around 40 when the whitepaper came out in 2008…meaning he was likely born around 1968, give-or-take a few years._
_Satoshi is a heads-down programmer. Many of the writings here are mundane coder-talk. They are likely cryptic jibberish to nearly everyone. Satoshi does not fiddle with small-talk or niceties. He consistently remains focused and practical. When wished a happy Christmas by Mike Hearn if he celebrates Christmas, Satoshi makes no response either way. He merely proceeds to the task-at-hand._
_Satoshi values privacy. This is witnessed in his words—naturally for a cypherpunk—but also in his focused neglect of including anything personal about himself (or herself), such as the Christmas non-comment. It’s worth noting here that since Satoshi Nakamoto is unknown, Satoshi’s sex is unknown. Satoshi may be a man, woman, or group. However, since_ サトシ _is generally a male’s name in Japan, Satoshi is referred to here using singular, male pronouns._
_Satoshi can pack a lot into a few words. His writing style is brief and to-the-point, but not impolite or terse. On the day the whitepaper was revealed, when he writes,_ “I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party,” _he could have almost simply stopped right there._
_Satoshi has a practical sense of marketing about him. He understands the importance of a good icon or logo. He understands that slow growth is not necessarily a bad thing. And he gets that there is such a thing as bad publicity (e.g., the WikiLeaks, hornet’s nest comment)._
_Despite his focused, logical, business-minded tendencies, there seems to me to be a bit of boyishness about him. This is seldom shown, but it is there, revealed in his writings in rare glints. This leads to a final conclusion…_
_Satoshi is human. When he writes to Mike Hearn on_ _Wed, March 9, 2011_, “That’s great news!” _the guarded wall that normally shields Satoshi-the-person seems to quaver. It hints at a real person, with emotions, excitement, and an almost childlike glee in what he’s doing, lying somewhere behind the façade of Satoshi Nakamoto. He’s kicking the hornet’s nest himself, and he knows it. And, when just two days before withdrawing from public posts_
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