Re: [bitcoin-list] Bitcoin v0.1 released

2009–01–16 18:35:32 UTC

I would be surprised if 10 years from now we’re not using electronic currency in some way, now that we know a way to do it that won’t inevitably get dumbed down when the trusted third party gets cold feet.

It could get started in a narrow niche like reward points, donation tokens, currency for a game or micropayments for adult sites. Initially it can be used in proof-of-work applications for services that could almost be free but not quite.

It can already be used for pay-to-send e-mail. The send dialog is resizeable and you can enter as long of a message as you like. It’s sent directly when it connects. The recipient doubleclicks on the transaction to see the full message. If someone famous is getting more e-mail than they can read, but would still like to have a way for fans to contact them, they could set up Bitcoin and give out the IP address on their website. “Send X bitcoins to my priority hotline at this IP and I’ll read the message personally.”

Subscription sites that need some extra proof-of-work for their free trial so it doesn’t cannibalize subscriptions could charge bitcoins for the trial.

It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy. Once it gets bootstrapped, there are so many applications if you could effortlessly pay a few cents to a website as easily as dropping coins in a vending machine.

Satoshi Nakamoto

http://www.bitcoin.org