{
"subject": "[bitcoin-list] Bitcoin v0.1 Alpha release notes",
"content": {
"format": "email",
"body": "Release notes for Bitcoin v0.1 Alpha\n\nBitcoin is a new electronic cash system that uses a peer-to-peer \nnetwork to prevent double-spending. It's completely decentralized\nwith no server or central authority.\n \nYou can find screenshots and the download link at:\nhttp://www.bitcoin.org\n \nWindows only for now. Open source C++ code is included.\n\n- Unpack the files into a directory\n- Run BITCOIN.EXE\n- It automatically connects to other nodes\n\nIf you can keep a node running that accepts incoming connections,\nyou'll really be helping the network a lot. Port 8333 on your\nfirewall needs to be open to receive incoming connections.\n\nThe software is still alpha and experimental. There's no guarantee\nthe system's state won't have to be restarted at some point if it\nbecomes necessary, although I've done everything I can to build in\nextensibility and versioning.\n\nYou can get coins by getting someone to send you some, or turn on\nOptions->Generate Coins to run a node and generate blocks. I made\nthe proof-of-work difficulty ridiculously easy to start with, so\nfor a little while in the beginning a typical PC will be able to\ngenerate coins in just a few hours. It'll get a lot harder when\ncompetition makes the automatic adjustment drive up the difficulty.\nGenerated coins must wait 120 blocks to mature before they can be\nspent.\n\nThere are two ways to send money. If the recipient is online, you\ncan enter their IP address and it will connect, get a new public\nkey and send the transaction with comments. If the recipient is\nnot online, it is possible to send to their Bitcoin address, which\nis a hash of their public key that they give you. They'll receive\nthe transaction the next time they connect and get the block it's\nin. This method has the disadvantage that no comment information\nis sent, and a bit of privacy may be lost if the address is used\nmultiple times, but it is a useful alternative if both users can't\nbe online at the same time or the recipient can't receive incoming\nconnections.\n\nTotal circulation will be 21,000,000 coins. It'll be distributed\nto network nodes when they make blocks, with the amount cut in half\nevery 4 years.\n\nfirst 4 years: 10,500,000 coins\nnext 4 years: 5,250,000 coins\nnext 4 years: 2,625,000 coins\nnext 4 years: 1,312,500 coins\netc...\n\nWhen that runs out, the system can support transaction fees if\nneeded. It's based on open market competition, and there will\nprobably always be nodes willing to process transactions for free.\n\nSatoshi Nakamoto\n\n\n\n\n"
},
"source": {
"name": "bitcoin-list",
"url": "https://sourceforge.net/p/bitcoin/mailman/message/21312004/"
},
"date": "2009-01-12T20:20:47Z"
}