Simplified Payment Verification (SPV) allows payment verification without running a full network node.
— Satoshi Nakamoto
Bitcoin’s key innovation is the proof-of-work blockchain.
— Satoshi Nakamoto
The proof-of-work function is intentionally hard to compute but easy to verify.
— Satoshi Nakamoto
The consensus mechanism ensures all nodes agree on the transaction history.
— Satoshi Nakamoto
The network validates transactions independently and transparently.
— Satoshi Nakamoto
Nodes communicate over secure encrypted connections.
— Satoshi Nakamoto
The network runs 24/7 with no downtime or centralized control.
— Satoshi Nakamoto
Bitcoin nodes store the entire blockchain to verify transactions independently.
— Satoshi Nakamoto
The protocol is designed to prevent double spending without a central authority.
— Satoshi Nakamoto
We can win a major battle in the arms race and gain a new territory of freedom for several years.
— Satoshi Nakamoto
The consensus mechanism ensures all nodes agree on the transaction history.
— Satoshi Nakamoto
Bitcoin replaces trust with mathematical proof and network consensus.
— Satoshi Nakamoto
New coins are generated at a decreasing rate, and eventually the total number of coins will reach a limit of 21 million.
— Satoshi Nakamoto
The blockchain is a tamper-evident record of transactions.
— Satoshi Nakamoto
Bitcoin can enable micropayments without high transaction fees.
— Satoshi Nakamoto
A blockchain fork happens when two miners solve a block at nearly the same time.
— Satoshi Nakamoto
Users maintain control of their private keys at all times.
— Satoshi Nakamoto
Nodes reject invalid transactions to maintain network integrity.
— Satoshi Nakamoto
Users can verify transactions without trusting any third party.
— Satoshi Nakamoto
The network rewards miners proportional to the computational work they perform.
— Satoshi Nakamoto
Bitcoin can provide a new form of money free from censorship.
— Satoshi Nakamoto
Bitcoin is the foundation of a new financial era.
— Satoshi Nakamoto
Nodes always consider the longest chain to be the correct one and will keep working on extending it.
— Satoshi Nakamoto
The network operates continuously without downtime.
— Satoshi Nakamoto
Transaction fees will become the main incentive for miners once the coin generation slows down.
— Satoshi Nakamoto
The decentralized nature of the system removes the need for a central clearinghouse.
— Satoshi Nakamoto
Bitcoin transactions are broadcasted to the network for validation.
— Satoshi Nakamoto
Bitcoin wallets store private keys which allow spending of associated coins.
— Satoshi Nakamoto
Bitcoin is the foundation of a new financial era.
— Satoshi Nakamoto
No third party is needed to process or verify payments.
— Satoshi Nakamoto
To modify a past block, an attacker would have to redo the proof-of-work of that block and all blocks after it.
— Satoshi Nakamoto
I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.
— Satoshi Nakamoto
Users can spend and receive Bitcoin without permission.
— Satoshi Nakamoto
The initial distribution of coins is through mining rewards.
— Satoshi Nakamoto
The network nodes form a decentralized network without a central authority.
— Satoshi Nakamoto
Bitcoin is a global network that anyone can join.
— Satoshi Nakamoto
Users retain full control over their money without relying on banks.
— Satoshi Nakamoto
Nodes always accept the longest valid blockchain as the authoritative ledger.
— Satoshi Nakamoto
It’s the separation of money and state.
— Satoshi Nakamoto
Mining pools allow miners to reduce variance in their rewards.
— Satoshi Nakamoto