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+---
+layout: default
+title: "Bitcoin v0.1 released"
+grand_parent: Emails
+parent: Cryptography Mailing List
+nav_order: 18
+---
+
+# Bitcoin P2P e-cash paper
+
+The email on the Cryptography Mailing List that announced Bitcoin publicly to the world.
+{: .fs-6 .fw-300 } 
+
+---
+
+
+```
+Hal Finney wrote:
+> > * Spammer botnets could burn through pay-per-send email filters
+> > trivially
+> If POW tokens do become useful, and especially if they become money,
+> machines will no longer sit idle. Users will expect their computers to
+> be earning them money (assuming the reward is greater than the cost to
+> operate). A computer whose earnings are being stolen by a botnet will
+> be more noticeable to its owner than is the case today, hence we might
+> expect that in that world, users will work harder to maintain their
+> computers and clean them of botnet infestations.
+
+Another factor that would mitigate spam if POW tokens have value:
+there would be a profit motive for people to set up massive
+quantities of fake e-mail accounts to harvest POW tokens from
+spam. They'd essentially be reverse-spamming the spammers with
+automated mailboxes that collect their POW and don't read the
+message. The ratio of fake mailboxes to real people could become
+too high for spam to be cost effective.
+
+The process has the potential to establish the POW token's value
+in the first place, since spammers that don't have a botnet could
+buy tokens from harvesters. While the buying back would
+temporarily let more spam through, it would only hasten the
+self-defeating cycle leading to too many harvesters exploiting the
+spammers.
+
+Interestingly, one of the e-gold systems already has a form of
+spam called "dusting". Spammers send a tiny amount of gold dust
+in order to put a spam message in the transaction's comment field.
+If the system let users configure the minimum payment they're
+willing to receive, or at least the minimum that can have a
+message with it, users could set how much they're willing to get
+paid to receive spam.
+
+Satoshi Nakamoto
+
+
+---------------------------------------------------------------------
+The Cryptography Mailing List
+Unsubscribe by sending "unsubscribe cryptography" to majordomo at metzdowd.com
+```