Combine yeast (1 packet, 2 1/4 tsp) and 1.5 cups warm water (approximately 40°C) in a large bowl. Let sit until yeast becomes frothy, about 5 minutes. If it doesn't froth, your yeast might be dead and you should start again with a new packet of yeast.
Add flour (3 cups, 420g) and salt (1.5 tso) to the yeast mixture and stir until blended; dough will be shaggy. Cover bowl with a kitchen towel and let the dough rest about 4 hours at warm room temperature.
In the bowl, fold the dough over on itself about four times, changing direction after each fold. Add a glug of olive oil around the perimiter of the dough, and use a flexible scraper to move though dough away from the sides of the bowl so that the oil coats the entire dough ball. Cover again let rest 30 minutes more.
At least a half-hour before dough is ready, heat oven to 230°C/450°F. Put a 6-to-8-quart heavy covered pot (cast iron, enamel, Pyrex or ceramic) in oven as it heats. When dough is ready, carefully remove pot from oven. Grease the pot with olive oil, making sure to get into the crevices. Using a flexible scraper, slide the dough into the pot. Shake pan once or twice if dough is unevenly distributed; it will straighten out as it bakes.
Cover with lid and bake 30 minutes, then remove lid and bake another 15 to 30 minutes, until loaf is beautifully browned. Cool on a rack.