DFi Profile picture
21 Jan, 17 tweets, 8 min read
Bitcoin: A Peer-to-Peer Electronic Cash System

Satoshi Nakamoto
satoshin@gmx.com
bitcoin.org

31 Oct 2008

bitcoin.org/bitcoin.pdf

⬇️
Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. ⬇️
Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. ⬇️
The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. ⬇️
The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. ⬇️
As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. ⬇️
Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. ⬇️
"I am bitcoin.org, three" (translations)

32 languages: bitcoin.org/en/bitcoin-pap…

5 languages: btcinformation.org/en/bitcoin-pap…

Chinese: 8btc.com/wiki/bitcoin-a…

⬇️
@everyone Add repositories not included above
@websites Mirror the original and its translations

This is what can be done @hodlonaut
@thebraveandthefree Quote Tweet with "I am bitcoin.org"

@BitcoinDotOrg
Here is what you can do:

1. Like and RT
2. Reply and add mirrors hosting the whitepaper (including translations)
3. Host the whitepaper and share it here
4. QT with "I am bitcoin.org"
5. QT with "I am bitcoin.org" and share the whitepaper you're hosting

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