diff --git a/src/init.cpp b/src/init.cpp
index abaf9b81d..62d5e4dbd 100644
--- a/src/init.cpp
+++ b/src/init.cpp
@@ -667,6 +667,9 @@ bool AppInit2(boost::thread_group& threadGroup, CScheduler& scheduler)
     fLogTimestamps = GetBoolArg("-logtimestamps", true);
     fLogIPs = GetBoolArg("-logips", false);
 
+    LogPrintf("\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n");
+    LogPrintf("Bitcoin version %s (%s)\n", FormatFullVersion(), CLIENT_DATE);
+
     // when specifying an explicit binding address, you want to listen on it
     // even when -connect or -proxy is specified
     if (mapArgs.count("-bind")) {
@@ -909,8 +912,10 @@ bool AppInit2(boost::thread_group& threadGroup, CScheduler& scheduler)
 #endif
     if (GetBoolArg("-shrinkdebugfile", !fDebug))
         ShrinkDebugFile();
-    LogPrintf("\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n");
-    LogPrintf("Bitcoin version %s (%s)\n", FormatFullVersion(), CLIENT_DATE);
+
+    if (fPrintToDebugLog)
+        OpenDebugLog();
+
     LogPrintf("Using OpenSSL version %s\n", SSLeay_version(SSLEAY_VERSION));
 #ifdef ENABLE_WALLET
     LogPrintf("Using BerkeleyDB version %s\n", DbEnv::version(0, 0, 0));
diff --git a/src/util.cpp b/src/util.cpp
index bb7df2320..634d8a705 100644
--- a/src/util.cpp
+++ b/src/util.cpp
@@ -167,23 +167,51 @@ instance_of_cinit;
  */
 
 static boost::once_flag debugPrintInitFlag = BOOST_ONCE_INIT;
+
 /**
- * We use boost::call_once() to make sure these are initialized
- * in a thread-safe manner the first time called:
+ * We use boost::call_once() to make sure mutexDebugLog and
+ * vMsgsBeforeOpenLog are initialized in a thread-safe manner.
+ *
+ * NOTE: fileout, mutexDebugLog and sometimes vMsgsBeforeOpenLog
+ * are leaked on exit. This is ugly, but will be cleaned up by
+ * the OS/libc. When the shutdown sequence is fully audited and
+ * tested, explicit destruction of these objects can be implemented.
  */
 static FILE* fileout = NULL;
 static boost::mutex* mutexDebugLog = NULL;
+static list<string> *vMsgsBeforeOpenLog;
+
+static int FileWriteStr(const std::string &str, FILE *fp)
+{
+    return fwrite(str.data(), 1, str.size(), fp);
+}
 
 static void DebugPrintInit()
 {
-    assert(fileout == NULL);
     assert(mutexDebugLog == NULL);
+    mutexDebugLog = new boost::mutex();
+    vMsgsBeforeOpenLog = new list<string>;
+}
+
+void OpenDebugLog()
+{
+    boost::call_once(&DebugPrintInit, debugPrintInitFlag);
+    boost::mutex::scoped_lock scoped_lock(*mutexDebugLog);
 
+    assert(fileout == NULL);
+    assert(vMsgsBeforeOpenLog);
     boost::filesystem::path pathDebug = GetDataDir() / "debug.log";
     fileout = fopen(pathDebug.string().c_str(), "a");
     if (fileout) setbuf(fileout, NULL); // unbuffered
 
-    mutexDebugLog = new boost::mutex();
+    // dump buffered messages from before we opened the log
+    while (!vMsgsBeforeOpenLog->empty()) {
+        FileWriteStr(vMsgsBeforeOpenLog->front(), fileout);
+        vMsgsBeforeOpenLog->pop_front();
+    }
+
+    delete vMsgsBeforeOpenLog;
+    vMsgsBeforeOpenLog = NULL;
 }
 
 bool LogAcceptCategory(const char* category)
@@ -215,44 +243,67 @@ bool LogAcceptCategory(const char* category)
     return true;
 }
 
+/**
+ * fStartedNewLine is a state variable held by the calling context that will
+ * suppress printing of the timestamp when multiple calls are made that don't
+ * end in a newline. Initialize it to true, and hold it, in the calling context.
+ */
+static std::string LogTimestampStr(const std::string &str, bool *fStartedNewLine)
+{
+    string strStamped;
+
+    if (!fLogTimestamps)
+        return str;
+
+    if (*fStartedNewLine)
+        strStamped =  DateTimeStrFormat("%Y-%m-%d %H:%M:%S", GetTime()) + ' ' + str;
+    else
+        strStamped = str;
+
+    if (!str.empty() && str[str.size()-1] == '\n')
+        *fStartedNewLine = true;
+    else
+        *fStartedNewLine = false;
+
+    return strStamped;
+}
+
 int LogPrintStr(const std::string &str)
 {
     int ret = 0; // Returns total number of characters written
+    static bool fStartedNewLine = true;
     if (fPrintToConsole)
     {
         // print to console
         ret = fwrite(str.data(), 1, str.size(), stdout);
         fflush(stdout);
     }
-    else if (fPrintToDebugLog && AreBaseParamsConfigured())
+    else if (fPrintToDebugLog)
     {
-        static bool fStartedNewLine = true;
         boost::call_once(&DebugPrintInit, debugPrintInitFlag);
-
-        if (fileout == NULL)
-            return ret;
-
         boost::mutex::scoped_lock scoped_lock(*mutexDebugLog);
 
-        // reopen the log file, if requested
-        if (fReopenDebugLog) {
-            fReopenDebugLog = false;
-            boost::filesystem::path pathDebug = GetDataDir() / "debug.log";
-            if (freopen(pathDebug.string().c_str(),"a",fileout) != NULL)
-                setbuf(fileout, NULL); // unbuffered
-        }
+        string strTimestamped = LogTimestampStr(str, &fStartedNewLine);
 
-        // Debug print useful for profiling
-        if (fLogTimestamps && fStartedNewLine)
-            ret += fprintf(fileout, "%s ", DateTimeStrFormat("%Y-%m-%d %H:%M:%S", GetTime()).c_str());
-        if (!str.empty() && str[str.size()-1] == '\n')
-            fStartedNewLine = true;
+        // buffer if we haven't opened the log yet
+        if (fileout == NULL) {
+            assert(vMsgsBeforeOpenLog);
+            ret = strTimestamped.length();
+            vMsgsBeforeOpenLog->push_back(strTimestamped);
+        }
         else
-            fStartedNewLine = false;
-
-        ret = fwrite(str.data(), 1, str.size(), fileout);
+        {
+            // reopen the log file, if requested
+            if (fReopenDebugLog) {
+                fReopenDebugLog = false;
+                boost::filesystem::path pathDebug = GetDataDir() / "debug.log";
+                if (freopen(pathDebug.string().c_str(),"a",fileout) != NULL)
+                    setbuf(fileout, NULL); // unbuffered
+            }
+
+            ret = FileWriteStr(strTimestamped, fileout);
+        }
     }
-
     return ret;
 }
 
diff --git a/src/util.h b/src/util.h
index 6019e2501..afc9a378b 100644
--- a/src/util.h
+++ b/src/util.h
@@ -125,6 +125,7 @@ void ReadConfigFile(std::map<std::string, std::string>& mapSettingsRet, std::map
 boost::filesystem::path GetSpecialFolderPath(int nFolder, bool fCreate = true);
 #endif
 boost::filesystem::path GetTempPath();
+void OpenDebugLog();
 void ShrinkDebugFile();
 void runCommand(const std::string& strCommand);