Bitcoin [BTC]: Satoshi’s original terminology is quite different from what it is now

The earliest known reference to a Bitcoin “miner” was coined by Satoshi himself and is present in the Bitcoin source code. To make matters more interesting, Satoshi Nakamoto termed Bitcoin’s technology as “Timechain” and not “Blockchain”, which was mentioned in the source code copies released by Satoshi on November 16, 2008.

Recent tweets posted by Francis Pouliot detailed Satoshi’s terminologies.

A user “iasenko” posted the archive copies of the source code posted by Satoshi on The image attached below shows the earliest reference to Bitcoin miners by Satoshi.


Francis Pouliot tweeted:

“TL;DR Satoshi got many people to review the Bitcoin source code, so this means he wants the only miner when bitcoin launched… Mindblown: earliest reference to the term BitcoinMiner is in the source code. Satoshi himself invented the term “miner” !!”

Like every currency, Bitcoin also has smaller denominations called “Satoshis”. One BTC is currently equal to 100,000,000 Satoshi. This term was coined by the community in honor of Satoshi, but Satoshi had a different denomination terminology.

According to Satoshi, the smallest denomination was “CENT” and the largest denomination was “Coin”. The mention of it in the source code can be seen in the image attached below.


Another important terminology lost by the community is “timechain”. In the source code, Satoshi stated:

“A transaction with a merkle branch linking it to the timechain… When they solve the proof-of-work, they broadcast the block to everyone and the block is added to the timechain. The first transcation in the block is a speacial one that creates a new coin owned by the creator of the block.”


There is more than one mention of “timechain” in Satoshi’s source code. However, some of the terminologies and small details are lost, unless discovered like the ones mentioned above.

@jaybny, a Twitter user, commented:

“why does this matter?”

@YangVentures replied to the above tweet:

“Shows many could have mined Bitcoin at the very start. Exact oppiste of ridiculously huge premines, founder rewards & presales that dump shitcoins on widows and orphans.”

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