Develop a Python Django web application that allows users to register, log in, and create blog posts. Blog posts should have a title, content, author, and timestamp. Implement functionality for viewing all posts, viewing individual posts, editing posts, and deleting posts. Store the data in a PostgreSQL database.
To create a Django web application with the mentioned functionalities, follow these steps:

1. Install Python, Django, and PostgreSQL

First, make sure you have Python installed on your system. You can download it from https://www.python.org/downloads/. After installing Python, install Django using pip:

```
pip install django
```

Next, install the PostgreSQL database adapter for Python:

```
pip install psycopg2-binary
```

2. Create a new Django project

Create a new directory for your project and navigate to it in the terminal. Then run the following command to create a new Django project:

```
django-admin startproject myblog
```

Replace "myblog" with the name of your project.

3. Configure the PostgreSQL database

Edit the `DATABASES` section in the `settings.py` file of your project:

```python
DATABASES = {
    'default': {
        'ENGINE': 'django.db.backends.postgresql',
        'NAME': 'mydatabase',
        'USER': 'myuser',
        'PASSWORD': 'mypassword',
        'HOST': 'localhost',
        'PORT': '',
    }
}
```

Replace `'mydatabase'`, `'myuser'`, and `'mypassword'` with your actual PostgreSQL database name, user, and password.

4. Create a new Django app

Run the following command to create a new Django app called "blog":

```
python manage.py startapp blog
```

5. Define models

In the `models.py` file of the "blog" app, define the `Post` model:

```python
from django.db import models
from django.contrib.auth.models import User

class Post(models.Model):
    title = models.CharField(max_length=200)
    content = models.TextField()
    author = models.ForeignKey(User, on_delete=models.CASCADE)
    timestamp = models.DateTimeField(auto_now_add=True)

    def __str__(self):
        return self.title
```

6. Create and apply migrations

Run the following commands to create and apply migrations for your models:

```
python manage.py makemigrations blog
python manage.py migrate
```

7. Register the `Post` model in the admin site

In the `admin.py` file of the "blog" app, register the `Post` model:

```python
from django.contrib import admin
from .models import Post

admin.site.register(Post)
```

8. Implement views, templates, and URLs

Create views for creating, editing, deleting, and viewing posts in the `views.py` file of the "blog" app. Then, create corresponding templates and URL patterns.

9. Add authentication functionality

Use Django's built-in authentication views and templates to handle user registration and login. Update your project's `urls.py` file to include these views.

10. Test your application

Run the development server using the following command:

```
python manage.py runserver
```

Navigate to http://127.0.0.1:8000/ in your web browser to test your application.

This is a high-level overview of how to create a Django web application with user registration, login, and blog post management. You'll need to write the actual code for views, templates, and URL configurations based on your specific requirements.