Category: Sotoshi Nakamoto Quotes
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Questions about Bitcoin2009-12-10
Being open source means anyone can independently review the code. If it was closed source, nobody could verify the security. I think it’s essential for a program of this nature to be open source.
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Bitcoin: A Peer-to-Peer Electronic Cash System2008-10-31
We have proposed a system for electronic transactions without relying on trust. We started with the usual framework of coins made from digital signatures, which provides strong control of ownership, but is incomplete without a way to prevent double-spending. To solve this, we proposed a peer-to-peer network using proof-of-work to record a public history of…
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Bitcoin: A Peer-to-Peer Electronic Cash System2008-10-31
The traditional banking model achieves a level of privacy by limiting access to information to the parties involved and the trusted third party. The necessity to announce all transactions publicly precludes this method, but privacy can still be maintained by breaking the flow of information in another place: by keeping public keys anonymous. The public…
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Bitcoin: A Peer-to-Peer Electronic Cash System2008-10-31
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to…
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Bitcoin: A Peer-to-Peer Electronic Cash System2008-10-31
Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non-reversible services. With…
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Bitcoin: A Peer-to-Peer Electronic Cash System2008-10-31
Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model.
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Bitcoin P2P e-cash paper2008-11-07
Bitcoin P2P e-cash paper 2008-11-07 Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.
Bitcoin Data 