# Gavin Andresen
# 2011-02-23 18:50:48
# https://bitcointalk.org/index.php?topic=3770.msg53658#msg53658

Bitcoin is confusing at first glance because so many problems are solved using just a few ideas.  If you think about it long enough, it is quite elegant. @p{par}

The busy-work of finding a block hash that is "small enough" solves a couple of problems: @p{par}

First, by making it hard to create coins so they are artificially scarce.  That is really important; if it was easy to create gazillions of bitcoins we'd all have gazillions of bitcoins that were worth nothing. @p{par}

Second, it solves the double-spending problem@p{--} the computer that solves the busy-work problem first gets to decide which transactions are "THE" transactions, and which ones are invalid (because you're trying to spend coins you've already spent). @p{brk}