2021-01-01 15:08:51 -06:00
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---
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layout: default
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2021-01-01 20:54:11 -06:00
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title: '[bitcoin-list] Bitcoin v0.1 Alpha release notes'
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2021-01-01 15:08:51 -06:00
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grand_parent: Emails
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2021-01-02 23:50:00 -06:00
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parent: '[bitcoin-list]'
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2021-01-01 15:08:51 -06:00
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nav_order: 3
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2021-01-01 21:11:16 -06:00
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date: 2009-01-12 20:20:47 UTC
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2021-01-02 23:50:00 -06:00
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original: https://sourceforge.net/p/bitcoin/mailman/message/21312004/
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2021-01-01 15:08:51 -06:00
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---
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2021-01-01 21:11:16 -06:00
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# [bitcoin-list] Bitcoin v0.1 Alpha release notes
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2021-01-01 15:08:51 -06:00
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---
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```
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Release notes for Bitcoin v0.1 Alpha
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Bitcoin is a new electronic cash system that uses a peer-to-peer
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network to prevent double-spending. It's completely decentralized
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with no server or central authority.
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You can find screenshots and the download link at:
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http://www.bitcoin.org
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Windows only for now. Open source C++ code is included.
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- Unpack the files into a directory
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- Run BITCOIN.EXE
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- It automatically connects to other nodes
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If you can keep a node running that accepts incoming connections,
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you'll really be helping the network a lot. Port 8333 on your
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firewall needs to be open to receive incoming connections.
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The software is still alpha and experimental. There's no guarantee
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the system's state won't have to be restarted at some point if it
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becomes necessary, although I've done everything I can to build in
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extensibility and versioning.
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You can get coins by getting someone to send you some, or turn on
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Options->Generate Coins to run a node and generate blocks. I made
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the proof-of-work difficulty ridiculously easy to start with, so
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for a little while in the beginning a typical PC will be able to
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generate coins in just a few hours. It'll get a lot harder when
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competition makes the automatic adjustment drive up the difficulty.
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Generated coins must wait 120 blocks to mature before they can be
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spent.
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There are two ways to send money. If the recipient is online, you
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can enter their IP address and it will connect, get a new public
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key and send the transaction with comments. If the recipient is
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not online, it is possible to send to their Bitcoin address, which
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is a hash of their public key that they give you. They'll receive
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the transaction the next time they connect and get the block it's
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in. This method has the disadvantage that no comment information
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is sent, and a bit of privacy may be lost if the address is used
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multiple times, but it is a useful alternative if both users can't
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be online at the same time or the recipient can't receive incoming
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connections.
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Total circulation will be 21,000,000 coins. It'll be distributed
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to network nodes when they make blocks, with the amount cut in half
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every 4 years.
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first 4 years: 10,500,000 coins
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next 4 years: 5,250,000 coins
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next 4 years: 2,625,000 coins
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next 4 years: 1,312,500 coins
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etc...
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When that runs out, the system can support transaction fees if
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needed. It's based on open market competition, and there will
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probably always be nodes willing to process transactions for free.
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Satoshi Nakamoto
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```
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