(): Let be compact. Let's first prove that must be bounded. Assume for contradiction that is not a bounded set. The idea is to show that there is a sequences that marches off to in such a way that it cannot have a convergent subsequence as the definition of compact requires. To do this, notice that because is not bounded then satisfying . Like wise with , and so on, where for all then .
Now because is compact, then should have a convergent subsequence . But the elements of the sequence satisfy and thus is unbounded. But that contradicts being a convergent sequence (see Cauchy Sequences Are Bounded). Thus must be bounded.
(): Let be closed and bounded and let . The Balzano-Weierstrass Theorem says that such that exists since is bounded. Since is closed then . Thus every sequence in contains a subsequence converging to a limit in , showing the definition of compact.