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Satoshi Nakamoto on

Mining

By convention, the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block. This adds an incentive for nodes to support the network, and provides a way to initially distribute coins into circulation, since there is no central authority to issue them. The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it is CPU time and electricity that is expended.
A collection of Satoshi Nakamoto’s words on this topic, gathered from the posts and emails in this archive.Text compiled by the Satoshi Nakamoto Institute, used under CC BY-SA 4.0. Formatting by Bitcoin.onl.
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