Bitcoin

is that digital money requires credible history.

Satoshi found that:
- the central problem of digital money is the double-spending attack
- the central requirement for a solution is a trustworthy source of transaction ordering - a timestamp server

From these two aspects flow these points in the Bitcoin whitepaper:

https://bitcoin.org/bitcoin.pdf

- "a peer-to-peer distributed timestamp server"

- "computational proof of the chronological order of transactions"

- "The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes."

- "We define an electronic coin as a chain of digital signatures."

- "The only way to confirm the absence of a transaction is to be aware of all transactions."

- "To implement a distributed timestamp server on a peer-to-peer basis, we will need to use a proof-of-work system"

- "Proof-of-work is essentially one-CPU-one-vote."

- "Nodes always consider the longest chain to be the correct one"