diff --git a/README.md b/README.md
index f2fb8244b..f29c2695f 100644
--- a/README.md
+++ b/README.md
@@ -3,13 +3,95 @@ btcd
 
 btcd is an alternative full node bitcoin implementation written in Go (golang).
 
-This project is currently under active development and is not production ready
-yet.
+This project is currently under active development and is in an Alpha state.
+
+It currently properly downloads, validates, and serves the block chain using the
+exact rules (including bugs) for block acceptance as the reference
+implementation (bitcoind).  We have taken great care to avoid btcd causing a
+fork to the block chain.  It passes all of the 'official' block acceptance tests
+(https://github.com/TheBlueMatt/test-scripts).
+
+It also properly relays newly mined blocks, maintains a transaction pool,
+and relays individual transactions that have not yet made it into a block.  It
+ensures all individual transactions admitted to the pool follow the rules
+required into the block chain and also includes the vast majority of the more
+strict checks which filter transactions based on miner requirements ("standard"
+transactions).
+
+One key difference between btcd and bitcoind is that btcd does *NOT* include
+wallet functionality and this was a very intentional design decision. See the
+blog entry at https://blog.conformal.com/btcd-finally for more details.  This
+means you can't actually make or receive payments directly with btcd.  That
+functionality will be provided by the forthcoming btcwallet and btcgui.
+
+## Installation
+
+#### Windows - MSI Available
+
+https://github.com/conformal/btcd/releases
+
+#### Linux/BSD/POSIX - Build from Source
+
+- Install Go according to the installation instructions here:
+  http://golang.org/doc/install
+
+- Run the following command to obtain btcd, all dependencies, and install it:
+  ```$ go get github.com/conformal/btcd```
+
+- btcd will now be installed in either ```$GOROOT/bin``` or ```$GOPATH/bin```
+  depending on your configuration.  If you did not already add to your system
+  path during the installation, we recommend you do so now.
+
+## Getting Started
+
+btcd has several configuration options avilable to tweak how it runs, but all
+of the basic operations described in the intro section work with zero
+configuration.
+
+#### Windows (Installed from MSI)
+
+Launch btcd from your Start menu.
+
+#### Linux/BSD/POSIX/Source
+
+```bash
+$ ./btcd
+````
 
 ## TODO
 
-The following is a list of major items remaining before production release:
+The following is a brief overview of the next things we have planned to work on
+for btcd.  Note this does not include the separate btcwallet and btcgui which
+are currently under heavy development:
 
 - Documentation
-- A lot of code cleanup
-- Optimize
+- Code cleanup
+- Add remaining missing RPC calls
+- Add option to allow btcd run as a daemon/service
+- Complete several TODO items in the code
+- Offer 32-bit MSI as well as the 64-bit one
+- Offer cross-compiled binaries for popular OSes (Fedora, Ubuntu, FreeBSD, OpenBSD)
+
+## GPG Verification Key
+
+All official release tags are signed by Conformal so users can ensure the code
+has not been tampered with and is coming from Conformal.  To verify the
+signature perform the following:
+
+- Download the public key from the Conformal website at
+  https://opensource.conformal.com/GIT-GPG-KEY-conformal.txt
+
+- Import the public key into your GPG keyring:
+  ```bash
+  gpg --import GIT-GPG-KEY-conformal.txt
+  ```
+
+- Verify the release tag with the following command where `TAG_NAME` is a
+  placeholder for the specific tag:
+  ```bash
+  git tag -v TAG_NAME
+  ```
+
+## License
+
+Package btcwire is licensed under the liberal ISC License.