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83 lines
3.0 KiB
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---
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layout: default
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title: '[p2p-research] Bitcoin P2P e-currency v0.1 released'
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date: 2009-02-13 19:45:28 +0100
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grand_parent: Emails
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parent: '[p2p-research]'
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nav_order: 5
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---
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# [p2p-research] Bitcoin P2P e-currency v0.1 released
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The email on the Cryptography Mailing List that announced Bitcoin publicly to the world.
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{: .fs-6 .fw-300 }
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---
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```
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Date: Fri, 13 Feb 2009 19:45:28 +0100
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From: Satoshi Nakamoto <satoshin@gmx.com>
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To: p2presearch@listcultures.org
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Subject: [p2p-research] Bitcoin P2P e-currency v0.1 released
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Announcing the release of Bitcoin, a new open source peer-to-peer
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electronic cash system that's completely decentralized, with no central
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server or trusted parties. Users hold the crypto keys to their own
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money and transact directly with each other, with the help of the P2P
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network to check for double-spending.
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Windows NT/2000/XP/Vista. Open source C++ code is included.
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Download: http://www.bitcoin.org
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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, you'll
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really be helping the network a lot. Port 8333 on your firewall needs
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to be open to receive incoming connections.
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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 the
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proof-of-work difficulty ridiculously easy to start with, so for a
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little while in the beginning a typical PC will be able to generate
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coins in just a few hours. It'll get a lot harder when competition
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makes the automatic adjustment drive up the difficulty. Generated coins
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must wait 120 blocks to mature before they can be spent.
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There are two ways to send money. If the recipient is online, you can
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enter their IP address and it will connect, get a new public key and
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send the transaction with comments. If the recipient is not online, it
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is possible to send to their Bitcoin address, which is a hash of their
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public key that they give you. They'll receive the transaction the next
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time they connect and get the block it's in. This method has the
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disadvantage that no comment information is sent, and a bit of privacy
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may be lost if the address is used multiple times, but it is a useful
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alternative if both users can't be online at the same time or the
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recipient can't receive incoming connections.
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Total circulation will be 21,000,000 coins. It'll be distributed to
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network nodes when they make blocks, with the amount cut in half every 4
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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 needed.
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It's based on open market competition, and there will probably always be
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nodes willing to process transactions for free.
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Satoshi Nakamoto
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http://www.bitcoin.org
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_______________________________________________
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p2presearch mailing list
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p2presearch@listcultures.org
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http://listcultures.org/mailman/listinfo/p2presearch_listcultures.org
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```
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