📙
[EN] The Book of Satoshi by Phil Champagne (beta)
source
  • The Book of Satoshi : The Collected Writings of Bitcoin Creator Satoshi Nakamoto by Phil Champagne
  • About the Cover Picture
  • Acknowledgements
  • Who This Book is Intended For
  • Foreword
  • 1. Introduction
  • 2. How and Why Bitcoin Works
  • 3. The First Post on Crypto Mailing List
  • 4. Scalability Concerns
  • 5. The 51% Attack
  • 6. About Centrally Controlled Networks Versus Peer-to-Peer Networks
  • 7. Satoshi on the Initial Inflation Rate of 35%
  • 8. About Transactions
  • 9. On the Orphan Blocks
  • 10. About Synchronization of Transactions
  • 11. Satoshi Discusses Transaction Fees
  • 12. On Confirmation and Block Time
  • 13. The Byzantine General's Problem
  • 14. On Block Time, an Automated Test, and the Libertarian Viewpoint
  • 15. More on Double Spend, Proof-of-Work and Transaction Fees
  • 16. On Elliptic Curve Cryptography, Denial of Service Attacks, and Confirmation
  • 17. More in the Transaction Pool, Networking Broadcast, and Coding Details
  • 18. First Release of Bitcoin
  • 19. On the Purpose For Which Bitcoin Could Be Used First
  • 20. "Proof-of-Work" Tokens and Spammers
  • 21. Bitcoin Announced on P2P Foundation
  • 22. On Decentralization as Key to Success
  • 23. On the Subject of Money Supply
  • 24. Release of Bitcoin Vo.1.3
  • 25. On Timestamping Documents
  • 26. Bitcointalk Forum Welcome Message
  • 27. On Bitcoin Maturation
  • 28. How Anonymous Are Bitcoins?
  • 29. A Few Questions Answered By Satoshi
  • 30. On "Natural Deflation"
  • 31. Bitcoin Version 0.2 is Here!
  • 32. Recommendation on Ways to Do a Payment for An Order
  • 33. On the Proof-of-Work Difficulty
  • 34. On the Bitcoin Limit and Profitability of Nodes
  • 35. On the Possibility of Bitcoin Address Collisions
  • 36. QR Code
  • 37. Bitcoin Icon/Logo
  • 38. GPL License Versus MIT License
  • 39. On Money Transfer Regulations
  • 40. On the Possibility of a Cryptographic Weakness
  • 41. On a Variety of Transaction Types
  • 42. First Bitcoin Faucet
  • 43. Bitcoin 0.3 Released!
  • 44. On The Segmentation or "Internet Kill Switch"
  • 45. On Cornering the Market
  • 46. On Scalability and Lightweight Clients
  • 47. On Fast Transaction Problems
  • 48. Wikipedia Article Entry on Bitcoin
  • 49. On the Possibility of Stealing Coins
  • 50. Major Flaw Discovered
  • 51. On Flood Attack Prevention
  • 52. Drainage of Bitcoin Faucet
  • 53. Transaction to IP Address Rather Than Bitcoin Address
  • 54. On Escrow and Multi-Signature Transactions
  • 55. On Bitcoin Mining as a Waste of Resources
  • 56. On an Alternate Type of Block Chain with Just Hash Records
  • 57. On the Higher Cost of Mining
  • 58. On the Development of an Alert System
  • 59. On the Definition of Money and Bitcoin
  • 60. On the Requirement of a Transaction Fee
  • 61. On Sites with CAPTCHA and Paypal Requirements
  • 62. On Short Messages in the Block Chain
  • 63. On Handling a Transaction Spam Flood Attack
  • 64. On Pool Mining Technicalities
  • 65. On WikiLeaks Using Bitcoin
  • 66. On a Distributed Domain Name Server
  • 67. On a PC World Article on Bitcoin and WikiLeaks Kicking the Hornet's Nest
  • 68. Satoshi's Last Forum Post: Release of Bitcoin 0.3-19
  • 69. Emails to Dustin Trammell
  • 70. Last Private Correspondence
  • 71. Bitcoin and Me (Hal Finney)
  • 72. Conclusion
  • Bitcoin: A Peer-to-Peer Electronic Cash System
  • Terms & Definitions
  • Index
Powered by GitBook
On this page
  • 18
  • First Release of Bitcoin

18. First Release of Bitcoin

Previous17. More in the Transaction Pool, Networking Broadcast, and Coding DetailsNext19. On the Purpose For Which Bitcoin Could Be Used First

Last updated 1 year ago

18

First Release of Bitcoin

IN THIS POST, Satoshi announces the very first release of the Bitcoin software on sourceforge.net. Sourceforge.net is like github or other online services allowing people to share documents and source code. This release is no longer available there but has been recopied at the following locations:

This software is open source, meaning that the code is available, copyright free for use, reproduction, and modification.

Bitcoin v0.1 released

Satoshi Nakamoto Fri, 09 Jan 2009 17:05:490800

Announcing the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent doublespending. It’s completely decentralized with no server or central authority.

See bitcoin.org for screenshots.

Download link:

Windows only for now. Open source C++ code is included.

• Unpack the files into a directory

• Run BITCOIN.EXE

• It automatically connects to other nodes

If you can keep a node running that accepts incoming connections, you’ll really be helping the network a lot. Port 8333 on yourfirewall needs to be open to receive incoming connections.

The software is still alpha and experimental. There’s no guarantee the system’s state won’t have to be restarted at some point if it becomes necessary, although I’ve done everything I can to build in extensibility and versioning.

You can get coins by getting someone to send you some, or turn on

Options->Generate Coins to run a node and generate blocks. I made the proof-of-work difficulty ridiculously easy to start with, so for a little while in the beginning a typical PC will be able to generate coins in just a few hours. It’ll get a lot harder whencompetition makes the automatic adjustment drive up the difficulty. Generated coins must wait 120 blocks to mature before they canbe spent.

There are two ways to send money. If the recipient is online, you can enter their IP address and it will connect, get a new public key and send the transaction with comments. If the recipient is not online, it is possible to send to their Bitcoin address, which is a hash of their public key that they give you. They’ll receive the transaction the next time they connect and get the block it’s in.This method has the disadvantage that no comment information is sent, and a bit of privacy may be lost if the address is used multiple times, but it is a useful alternative if both users can’t be online at the same time or the recipient can’t receive incoming connections.

Total circulation will be 21,000,000 coins. It’ll be distributed to network nodes when they make blocks, with the amount cut in half every 4 years.

first 4 years: 10,500,000 coins

next 4 years: 5,250,000 coins

next 4 years: 2,625,000 coins

next 4 years: 1,312,500 coins

etc. . . .

When that runs out, the system can support transaction fees if needed. It’s based on open market competition, and there will probably always be nodes willing to process transactions for free.

Satoshi Nakamoto

http://www.zorinaq.com/pub/bitcoin-0.1.0.rar
http://www.zorinaq.com/pub/bitcoin-0.1.0.tgz
http://we.lovebitco.in/bitcoin-0.1.0.rar
http://www.bitcointrading.com/files/bitcoin-0.1.0.rar
http://downloads.sourceforge.net/bitcoin/bitcoin-0.1.0.rar