proof-of-work

Bitcoin P2P e-cash paper

Satoshi Nakamoto's first public announcement of Bitcoin on the Cryptography Mailing List. He introduces a peer-to-peer electronic cash system with no trusted third party.

Bitcoin v0.1 released

Security consultant Bill Frantz makes the ironic observation that botnet-controlled machines are 'among the most secure on the network' because operators work hard to keep others from compromising 'their' machines, and speculates that botnet operators could evolve into legitimate security firms funded by proof-of-work rewards.

Bitcoin open source implementation of P2P currency

Satoshi explains Bitcoin's proof-of-work mining, halving schedule, and fixed supply in response to questions from Joerg Baach and Sepp Hasslberger, comparing it to a precious metal where supply is predetermined and value changes.

Questions about BitCoin

Satoshi explains that micropayments can be safely accepted immediately, describes how merchants can detect double-spend attempts, and clarifies that proof-of-work difficulty is hardcoded rather than communicated.

Satoshi ↔ Martti Malmi Correspondence

Satoshi addresses concerns about Bitcoin's energy consumption, arguing it would be far less than traditional banking while acknowledging the tension between economic liberty and conservation.