This method of making bread was in the New York Times some time back and has sort of a cult following. Two of the many site links to copy and look at are
[url="http://www.slashfood.com/2006/11/16/no-knead-bread-takes-over-the-world/"]http://www.slashfood.com/2006/11/16/no-knead-bread-takes-over-the-world/...
and the original
[url="http://www.nytimes.com/2006/11/08/dining/081mrex.html?_r=1&oref=slogin"]http://www.nytimes.com/2006/11/08/dining/081mrex.html?_r=1&oref=slogin[/...
It's even on you tube from many folks. If you google on "no knead" bread you will get a huge number of hits to review.
It has only flour, yeast, salt and water so makes it very simple to make peanut and nut free bread. I only use my breadmaker now for pizza dough, and have been making this bread 1 to 2 times aweek for about six months.
I have my own version, which is to forget about the cotton towels thing. Just dump more flour on the bread in the bowl and work into the loaf until it is no longer sticky and more conventionally dough like. Let it do the final rise just coated with flour in the bowl. Dump the bowl into the hot lidded pan and throw in the oven. I use a cast iron chicken fryer with lid I bought around 1979.
My other personal hints are to use bread flour and 1/2 teaspoon bread machine yeast. I like King Arthur Brand flour for best taste. All purpose works well also, but the bread flour gives a chewier bread. In the winter, like now, I place the bowl in a warm place overnight. Since we turn the heat off or low at night, the top of my gas water heater in my laundry room is my overnight spot.
This bread is very forgiving and doesn't much care if you let it go hours longer than the recipe says because you get busy. I recommend trying this for taste and freshness, not just for allergy safe bread.
I tried this out not too long ago. It was good and very easy - you have to love something that maybe requires 5 min. of your time to make! (OK not including rising time, but still).