"It is a global distributed database, with additions to the database by consent of the majority, based on a set of rules they follow:
- Whenever someone finds proof-of-work to generate a block, they get some new coins
- The proof-of-work difficulty…"
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Bitcoin open source implementation of P2P currency
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Started this discussion. Last reply by Jost Reinert Jan 7, 2011.
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Satoshi Nakamoto replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency
Joerg Baach replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency"Hi Satoshi,
we are actually really talking about the old Chaumian central stuff. That was because a) it was there b) it was patent free (we have to think a bit about the US). I had a read of your paper on the weekend - thanks a lot for doing that…"
Satoshi Nakamoto replied to Satoshi Nakamoto's discussion Bitcoin open source implementation of P2P currency"Could be. They're talking about the old Chaumian central mint stuff, but maybe only because that was the only thing available. Maybe they would be interested in going in a new direction.
A lot of people automatically dismiss e-currency as a…"
Satoshi Nakamoto posted a discussionBitcoin open source implementation of P2P currency
I've developed a new open source P2P e-cash system called Bitcoin. It's completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. Give it a try, or take a look at the screenshots and design paper:Download Bitcoin v0.1 at http://www.bitcoin.orgThe root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the…See More
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