# Re: Citation of your b-money page

From: Satoshi Nakamoto<br>
Sent: Saturday, January 10, 2009 11:17 AM<br>
To: weidai@weidai.com<br>
Subject: Re: Citation of your b-money page

I wanted to let you know, I just released the full implementation of the paper I sent you a few months ago, Bitcoin v0.1. &nbsp;Details, download and screenshots are at www.bitcoin.org

I think it achieves nearly all the goals you set out to solve in your b-money paper.

The system is entirely decentralized, without any server or trusted parties. &nbsp;The network infrastructure can support a full range of escrow transactions and contracts, but for now the focus is on the basics of money and transactions.

There was a discussion of the design on the Cryptography mailing list. &nbsp;Hal Finney gave a good high-level overview:

> One thing I might mention is that in many ways bitcoin is two independent ideas: a way of solving the kinds of problems James lists here, of creating a globally consistent but decentralized database; and then using it for a system similar to Wei Dai's b-money (which is referenced in the paper) but transaction/coin based rather than account based. Solving the global, massively decentralized database problem is arguably the harder part, as James emphasizes. The use of proof-of-work as a tool for this purpose is a novel idea well worth further review IMO.

Satoshi

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