Skip to main content

The Bitcoin white paper before Satoshi decided to call it "Bitcoin"

The below is probably not the original PDF, however it contains what I and a few others consider to be the original writing (based on review from Wei Dai possibly).

Edit: As confirmed by Gwern this document's source is from another fake Satoshi. As it was emailed to me anonymously from someone that keeps sending me stuff like this anonymously (possibly an encounter I had on a forum or mailing list), the best source to verify such a document would be from the people who have already done some research on this. Have a read on Gwern's page about the ecash.pdf document and the Nakamot/Dai emails https://www.gwern.net/docs/bitcoin/2008-nakamoto

Comments

Post a Comment

Popular posts from this blog

If Bitcoin is better than fiat why is adoption slow?

Bitcoin adoption is not slow. On the contrary a few million people use it just after 9 years after it was introduced. The people actually love the idea of Bitcoin, but they're scared to have to store Bitcoin for themselves. Even with all the bank scandals in the world, even with the Cyprus haircut and the Greek capital controls, the people still prefer to have the bank handle their money.

In a sort of sense they are right. It is difficult to handle fiat currency safely and securely. If one has $50,000 in savings, it's not considered the safest bet to store them at home, even in an unbreachable vault. For what it's worth, for $50,000 thieves are willing to break the wall surrounding the vault and carry the entire vault with them until they can find a way to open it. Similarly, the other kind of thieves -banks and politicians-, can simply pass a law that decides that all deposits bigger than $5,000 will be used to bailout the bank institutions or the government. Magically i…

Electricity, a real currency

Value is a strange thing. What do humans really value? Food? Housing? Clothes? Well, of course those things have intrinsic value as we need them to survive. But to have an economy you can't rely on food or other items required for survival as once they're spent, they're spent forever. We need something which can be spent for good but produce something which can stay in circulation forever, or at least for quite a long time. We also need something that cannot be easily destroyed, cannot be forged and is easily identifiable as the item in question. Most importantly, we need something which humans identify as truly valuable. Thus, this something should also be able to be used for other purposes, without removing value from the a potential byproduct which may have the qualities mentioned and can be used as money.

For centuries, this concept has found refuge in precious, or rather let's call it rare, metals. Silver, platinum, gold and many others, with the most valuable be…