Bitcoin Whitepaper

Bitcoin A peer to peer electronic cash system

The Bitcoin whitepaper was first released by Satoshi Nakamoto on 31st October 2008.

In it, Satoshi describes how the Bitcoin protocol will work. Titled: Bitcoin: A Peer-to-Peer Electronic Cash System the whitepaper was first distributed to cryptography mailing list in November 2008.

It came shortly after the banking crisis of 2007-08, and in the whitepaper Satoshi proposed a system that could replace the need for central authorities like banks and financial institutions.

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.

Satoshi Nakamoto, 2008.

While it is a long way from displacing banks and financial institutions, it has made a significant impact in many industries already. Anybody who doubts Bitcoin, simply doesn’t get it.

It takes everyone a while to even start to understand it, but if you want to know about it, the whitepaper is technical, but should be read by everyone interested in Bitcoin.

Please feel free to download and absorb the Bitcoin Whitepaper.

Source: bitcoin.org


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