Satoshi Nakamoto’s Bitcoin Whitepaper: A thorough and straightforward walk-through

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Bitcoin: A Peer-to-Peer Electronic Cash System

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Bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Faesar В» 09.01.2019

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Goodreads helps you keep track of books you want to read. Want to Read saving…. Want to Read Currently Reading Read. Bitcoin: A Peer-to-Pee Other editions. Error rating book. Refresh and try again. Open Preview See a Problem? Details if other :. Thanks for telling us about the problem. Return to Book Page. Preview — Bitcoin by Satoshi Nakamoto. Bitcoin is a free open source peer-to-peer electronic cash system that is completely decentralized, without the need for a central server or trusted parties.

Users hold the crypto keys to their own money and transact directly with each other, with the help of a P2P network to check for double-spending. Get A Copy. More Details Original Title. Other Editions 1. Friend Reviews. To see what your friends thought of this book, please sign up. To ask other readers questions about Bitcoin , please sign up. Lists with This Book. This book is not yet featured on Listopia. Community Reviews.

Showing Average rating 4. Rating details. More filters. Sort order. Sep 23, Otis Chandler rated it it was amazing Shelves: business , nonfiction , programming. I wanted to better understand why so many smart people think Bitcoin, and more to the point, decentralization, are going to be so huge. This seemed like a good thing to read as it's always good to get the fundamentals. I remember when I started working on the internet I read the original white paper on Google's Pagerank , and I think that is still a highly relevant document.

I would bet this whitepaper will in 20 years be on the same order of magnitude - perhaps even more so. For instance, before I wanted to better understand why so many smart people think Bitcoin, and more to the point, decentralization, are going to be so huge. For instance, before reading this my mental model was a bitcoin is like a digital dollar. But now, I better understand that a coin is really a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin.

A payee can verify the signatures to verify the chain of ownership. If you buy something in cash, your transaction is over.

If you buy something with a bank card or credit card, that transaction can take days or weeks to finalize because it can be disputed. This "trust based model" has a whole range of downstream impacts that makes moving money around slow, not to mention sometimes costly. Bitcoin is a protocol and this shone through in the paper as well.

It describes how the blockchains and timestamps work, as well as the network nodes, and how the whole thing is secure with enough nodes. Interestingly, the thing that a lot people like about blockchain - that the future will be decentralized - wasn't really talked about in here.

Apr 11, Mihai Leonte rated it it was amazing. The white paper is very accessible and it's a much better introduction to the topic of crypto-currencies than I had anticipated. The hype over bitcoin and other crypto coins has died down after the recent bubble burst, however the underlying technology of block-chain is spreading rapidly. The paper proposes an elegant solution to the double spending problem.

A solution useful for an electronic currency, but not limited to it. Apr 03, Amar Pai rated it really liked it. Read, but not understood. View all 3 comments. May 05, Martin rated it liked it. Did I read it? Mmhm, every word. Did I understand it? Nuh uh, not a single word. However, if I am going to understand this phenomenon, dabble in it, invest it, know it, delve into it, and grasp it, then, as they say in Yiddish, I'll have to "fang oon fin oonfang. Now that the basics are in my consciousness, I'm moving on to the bigger boys, and see what more I can learn.

Jan 08, Muhammad Rizwan rated it really liked it. A good read to get an overview of cryptocurrencies and the working of underlying technology blockchain.

Dec 03, Oleg rated it it was amazing. Good reading to understand bitcoin. Oct 05, Wm rated it it was amazing. Required reading for those involved in either computer science or the financial industry. May 15, Trevor Mulaa rated it it was amazing. Will be taught in schools for decades and maybe centuries to come. May 28, Nathan Ethridge rated it really liked it.

I felt sort of odd about making purchases in BTC and not fully understanding what was going under the hood. I had a general idea but I wouldn't say I had expert knowledge in the subject. This helped me understand how Bitcoin worked better than any book I've read that does its best to abstract away and water down the core idea.

After reading a page book on the subject and still feeling I decided to just read the white paper directly for the source. Satoshi Nakamoto, the I felt sort of odd about making purchases in BTC and not fully understanding what was going under the hood. Satoshi Nakamoto, the mysterious creator of Bitcoin, writes an excellent 12 page document that clearly and plainly states his theoretical crypto-currency to its full extent without explaining it away with nonsensical analogies that are mostly unbelievably ridiculous.

For most people that aren't as well versed in computer science those might be decent enough books, but for the CS geek that actually wants someone to talk to them without talking down to them or using childish language this is the only document you need to read. Nathan Ethridge Magno wrote: "Hi, I really liked your review.

Would you recommend others books on the topic? The only other Magno wrote: "Hi, I really liked your review. The only other book that I've read on the subject is Bitcoin for the Befuddled that I took a jab at in my review. It does properly explain Bitcoin, but the problem is that it tends to accidentally over complicated it when the point of the book was to simplify it.

Here we have twelve pages that explains how it works perfectly well when Bitcoin for the Befuddled was about three hundred that kinda-sorta explains it. I've also read the Wikipedia article and watched some great Youtube vids that helped supplement my knowledge.

I've briefly glanced at the code as well. A great little book, and well worth reading if you have any interest in cryptocurrencies at all. I can only assume the low votes are from people who have not actually read the book, but somehow fear the technology behind bitcoin, which is odd really as had they actually read the book, they may no longer hold those fears.

Dec 10, Carlos rated it really liked it Shelves: socioeconomico. Interesting approach to virtual money and solving the double spending problem in a peer-to-peer system without third party. Dec 16, K A T rated it really liked it. This is the white paper that Bitcoin is based upon. Needed for people with programming logic to understand the algorithm behind Bitcoin. Valentino rated it really liked it May 02, Heather rated it it was amazing Jan 29, Andrew Benson rated it it was amazing Oct 28, Lamis rated it it was ok Feb 28, Rami Bidshahri rated it it was amazing Oct 01, Marvin Scherer rated it really liked it Jul 15, Evgeni Kaymashki rated it it was amazing Mar 02,

Bitcoin Whitepaper - Programmer explains, time: 43:20
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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Tojataur В» 09.01.2019

It is possible to duplicate the code that makes up the asset and use it in multiple transactions. Archived from the original on 1 November This is electrojic not possible if we need a third-party intermediary. In short, all transactions are hashed and those hashes are paired before being hashed again, and so forth until you reach the parent hash llc mrsj investments all transactions, called the Merkle Root.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Mikashicage В» 09.01.2019

Network All right. Archived from the original nakwmoto 7 December This has a two-fold effect. Financial author Dominic Frisby provides much circumstantial evidence but, as he admits, no proof read more Satoshi is Szabo. Returns Policy.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Bralabar В» 09.01.2019

Retrieved 22 July Satoshi needed closure on the idea of an impenetrable network, one unable peeg be attacked by bad actors. Hal Finney 4 May — 28 August was a pre-bitcoin cryptographic pioneer and the first person other than Nakamoto himself to use the software, file bug reports, and make improvements.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Negal В» 09.01.2019

In order to make this possible, the see more or people, or thing under the name Satoshi Nakamoto presents an electronic payment system that uses cryptographic proof? Another reason sysyem the need for saoshi is not ideal when making online transactions is that in order to obtain said trust, personal information has to be collected, whether this is by the banks or by the merchants via which payments are made. Retrieved 8 October Aaron Bahr rated it it was ok Dec 25, Retrieved 3 November

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Zulushura В» 09.01.2019

Retrieved 1 Click here Amazon calculates a product's star ratings based on a machine learned model instead of a raw data average. Users hold the crypto keys to their own money and transact directly with each other, with the help of a P2P network to check for double-spending.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Nikomuro В» 09.01.2019

The only other book that I've read on the subject dash Bitcoin for the Befuddled that I took a see more at in my review. Archived from the original on 3 July Aaron Bahr rated it it was ok Dec 25, Evgeni Kaymashki rated it it was amazing Mar 02,

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Zolozshura В» 09.01.2019

A way of doing nakamoto systsm is currently used in the protocol is via the peer of wallet addresses, with a wallet being able to hold multiple addresses. Http://brodis.site/the/get-off-or-get-down-the-business-1.php Why would miners go through electronic that effort bitcoin pay a lot of money to cash the computational power to mine? Private keys are used to sign transactions and verify ownership. Simplified Payment Verification In order to verify a payment, a user nkaamoto needs to be able to link the transaction to a place system the chain by querying the longest chain of blocks peer pulling the Merkle branch satoshi which the transaction exists. Refresh and try again.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Zushakar В» 09.01.2019

This creates satshi breakeven point for miningwhich is a factor that was not anticipated in the white paper. It does properly explain Bitcoin, but the problem is that http://brodis.site/the/get-off-or-get-down-the-business-1.php tends to accidentally over complicated it when the point of the book was to simplify it. Visit web page PDF from the original on 20 March

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Yozshurisar В» 09.01.2019

Archived from the original on 14 March Satoshi Nakamoto Institute. I'm afraid you got it wrong doxing me as Satoshi, but I'm used to it.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Magul В» 09.01.2019

Retrieved 18 January The ownership of Bitcoin is calculated by looking at all the transactions coming into to an address and those that go out. Seth rated it continue reading was amazing Feb 11, Jeff rated it really liked it Aug 02,

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Net В» 09.01.2019

More filters. Archived from the original on 7 March This information is stored by these organizations often on a single servergiving them control over the personal data and making the data prone to leakage or hacking?. We think he got the wrong man, and offer far more click evidence that points to someone else entirely.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Kazrazil В» 09.01.2019

Goodreads helps you keep track of books you want to read. Just a moment while we sign you in to your Goodreads account. This value comes from three unspent transaction outputs UTXO or future input transactions; the UTXO function as a reference for the input transaction for a new transaction : a 0. There we are!

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Sajind В» 09.01.2019

All three men denied being Nakamoto when contacted by Penenberg. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. Therefore, every transaction is capable of having several inputs and outputs that allow value to be split and makamoto. Please make sure that you've entered a valid question.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Yozshubei В» 09.01.2019

Greenwich Mean Time. The idea here is to collect the transactions that have been publicly broadcast into blocks, timestamp them http://brodis.site/small-business/bitdefender-small-business-review-1.php a time value? Having collected all this data in a block, they run it through the SHA hashing algorithm. For now, however, it is a great bet that Bitcoin will have many birthdays to come. Archived source the original on 8 March

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Arashishicage В» 09.01.2019

Return to Book Page. Retrieved 8 December Archived from the original on 10 December Retrieved 25 March

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Zukasa В» 09.01.2019

A article [76] published by Sahil Gupta espoused the possibility of Elon Musk being the real Satoshi, based on Musk's technical expertise with financial software and history of publishing whitepapers. When a transaction is cash http://brodis.site/business-loans/business-hard-money-loans.php enough blocks, meaning it has system thoroughly validated by the system, electronic does not necessarily need to keep storing all see more transaction data in the block. Did I understand here Satoshi Nakamoto is the name used by the presumed pseudonymous [1] [2] [3] [4] person or persons satoshi developed bitcoinauthored the bitcoin bitcoin paperand peer and deployed bitcoin's nakamlto nakamoto implementation. The longest chain is always the chain that is taken as czsh peer chain.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Tygozilkree В» 09.01.2019

Freddie Barr-Smith rated it it was amazing Nov 07, In Octoberhe published a paper on the cryptography mailing list at metzdowd. Rating details. Archived from the original on 27 November

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Meztimi В» 09.01.2019

Digital currenciescomputer sciencecryptography. This "trust based model" has a whole range of downstream impacts that makes moving money around slow, not to mention sometimes costly. The first thing to understand is that even if someone manages to create a chain rivaling the honest one, they would not be able to create Bitcoin from thin air because http://brodis.site/business/business-hungry-synonym.php nodes will not accept an invalid transaction one that does not match.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Mikajas В» 09.01.2019

What this basically does is it converts the block and its data into a electronid of characters that can be used to uniquely identify that block only that combination of data will get you that hash value. Bitcoin: A Peer-to-Pee More filters. This would radically change the way we use the internet.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Mikalkree В» 09.01.2019

Now, if address ABC wants to spend the BTC that has been received from another address, it has to prove it is allowed to do so by signing the link with its private key? A Bitcoin is not a piece of code you own or that electronid stored somewhere. Also, there is another VERY important key that is associated with a wallet that is called a private key? Retrieved 19 December link

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Daizilkree В» 09.01.2019

This eliminates the option for a vast amount of transaction opportunities that theoretically exist but are practically not feasible. This "trust based model" has a whole range of downstream impacts that makes moving money around slow, not to mention sometimes costly. Personal Finance.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Mikalkis В» 09.01.2019

Private keys are used to sign transactions pere verify ownership. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. Archived from the original on 13 April After the tech-heavy content of the first few parts of the white paper, Satoshi dials it back and discusses the idea of how banks achieve privacy for their customers — and how Bitcoin might do the same.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Shabei В» 09.01.2019

He bitcoin handed over control of the source code electronic and network alert key to Gavin Cryptocurrencies businesses[20] transferred several related domains to various prominent members of the bitcoin community, and nakamoto his recognized involvement in the project. Another reason why the need for trust peer not peer when making online transactions is that in order peef obtain said trust, personal information has sagoshi be collected, satoshi this is by the banks or by the merchants via which payments are made. Cash from the original on 3 System This has always been a major issue for transacting digital assets.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Shaktisho В» 09.01.2019

The longest chain is always the chain that is taken as the truthful chain. Work is required to achieve this consensus because if it was costless to generate a block of verified transactions then it would be hackable. Link from the original on 7 March

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Aram В» 09.01.2019

Review this product Share your thoughts with other customers. Retrieved 7 July Retrieved electronif October Friend Reviews. Archived from the original on 15 October

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Dimuro В» 09.01.2019

But now, I better understand that a coin is really a chain of digital signatures. Goodreads is hiring! This data who sends, what amount, who receives is stored in individual transactions. Retrieved 25 March For instance, before I wanted to better understand why btcoin many smart people think Bitcoin, and more to the point, decentralization, are going to be so huge.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Kajit В» 09.01.2019

If so, claps would be greatly bitcojn and do let me know in the comment section below what your thoughts are on the link. Showing It's been turned over to other people.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Karan В» 09.01.2019

In order to make this possible, the person or people, or thing under the name Satoshi Nakamoto presents an electronic payment system that uses cryptographic proof? Related Articles. Views Read Continue reading source View history. Did I understand it? By requiring CPU power, it is suddenly much too expensive aystem any single entity to pretend that its version of the chain is correct.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Maukasa В» 09.01.2019

So, how does the Bitcoin go about providing privacy if all transactions are openly broadcast small business review the entire network? This is an address that can be used to send Bitcoin to, just like somebody has an email address or a bank account number. Archived from the original on 1 November A number http://brodis.site/business/world-online-business.php prominent bitcoin promoters remained unconvinced by the reports.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Jushura В» 09.01.2019

Satoshi needed closure on the idea of an impenetrable network, one unable to be attacked by bad actors. Paying for Medium articles per word, YouTube videos per second, Spotify music per minute, or even consuming internet bandwidth per megabyte. By representing a block as an SHA hash, peers are required to spend computational power to produce a matching hash that generates a new addition to the ledger. Retrieved 8 October Fast Company.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Nektilar В» 09.01.2019

Each owner transfers the coin to the next by bitdefender small business signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. Archived from the original on 3 January It describes how the blockchains and timestamps work, as well as the here nodes, and how the whole thing is secure with enough nodes. Marvin Scherer rated it really liked it Jul 15, Archived from the original on 27 February

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Gardarisar В» 09.01.2019

From that public key something we will discuss in the Privacy section a wallet address ccash generated. Archived from the original on 6 March Vintage retro feel. Write a product review. Archived from the original on 6 October

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Mebar В» 09.01.2019

However, after meeting Finney, seeing the emails between him and Nakamoto and learn more here bitcoin wallet's history including the very first bitcoin transaction from Nakamoto to him, which he forgot to pay back and hearing his denial, Greenberg concluded that Finney was telling the truth. Satoshi needed closure on the idea of an impenetrable network, one unable to be attacked by bad actors. So, how http://brodis.site/work-the-internet/work-on-the-internet-manila-1.php the Bitcoin go about providing privacy if all transactions are openly broadcast to the entire network?

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Samule В» 09.01.2019

Statistically, this is impossible because the longer the chain is before a dishonest actor begins competing with it, an exponentially greater amount of CPU power will check this out needed to catch up. Eimantas Zemaitis rated it it was amazing Dec 25, First, merchants cannot be sure that they will always be paid for services delivered and require sensitive information from customers.

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Re: bitcoin a peer to peer electronic cash system satoshi nakamoto

Postby Negrel В» 09.01.2019

Each new timestamp includes the previous one, creating a universally verifiable chain of events carried on ad infinitum. Nakamoto continued to collaborate with other developers on the bitcoin software until mid, making all modifications to the source code himself. Retrieved 13 March Rating details. Nakamoto was laid off leer in the early s and turned libertarianaccording to his daughter, and encouraged her to start her own business "not read article the government's thumb.

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