Bitcoin Whitepaper — PDF & HTML

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Lightweight HTML transcript (educational)

This is a simplified, non-verbatim outline to make the PDF easier to navigate on mobile. For precise wording and formulas, refer to the PDF above.

  • 1. Introduction: P2P electronic cash; remove trusted third parties.
  • 2. Transactions: Chain of signatures; verify ownership with public keys.
  • 3. Timestamp Server: Batch & hash data to prove order.
  • 4. Proof-of-Work: Hard-to-find hash under a target prevents rewriting history.
  • 5. Network: Broadcast, validate, mine, pick longest valid chain.
  • 6. Incentive: Rewards and fees secure the chain.
  • 7. Reclaiming Disk Space: Prune spent transactions; keep headers.
  • 8. SPV: Verify with headers only, not full chain.
  • 9. Combining/Splitting: Multiple inputs/outputs for flexible amounts.
  • 10. Privacy: Use new addresses; public ledger but pseudonymous.
  • 11. Calculations: Probability model of attack success.
  • 12. Conclusion: Trust-minimized digital cash.