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Not all revolutions start with fire. This one begins in the aftermath of the 2008 financial crisis.

On January 3rd, 2009, governments were still trying to contain the fallout from the financial crisis. In the United Kingdom, one round of bank rescues had already taken place. Another was being considered.

That morning, the front page of The Times of London read:

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

The Times of London, January 3rd, 2009

The headline referred to the British government preparing to inject additional capital into major banks whose balance sheets were still deteriorating. The first intervention had not been enough. The crisis was ongoing.

On that same day, the first Bitcoin block was mined.

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