Notes on money and trust

Follow a Bitcoin payment from ‘Sent’ to ‘Received’ in pictures: signatures, waiting records, mining, confirmations, and Lightning payments.

Pay for a coffee in bitcoin over Lightning and the café has it before the next block. Where the money sits in between, and what protects it.

Bitcoin’s rules live in software each node operator chooses to run. Follow Taproot from a public proposal to the block where its rules took effect.

The confirmations in a Bitcoin wallet count blocks, starting from the one your payment is in. Six is a common wait; each receiver picks its own number.

Mining searches for a block’s fingerprint. See why finding it takes many tries, checking it takes one calculation, and the difficulty keeps changing.

Bitcoin fees depend on network traffic and the size of your payment record. See why sending the same amount can cost different fees.

What leaves your phone when you send bitcoin? Follow one signed payment record as computers check it and it waits to enter the ledger.

A deposit alert has a bank’s ledger behind it; a gold necklace, a scale. One ordinary day in pictures, and how Bitcoin answers the same questions.

Who records, checks, issues, and protects money? Five questions compare where gold, bank deposits, and Bitcoin place their trust.

Countries set rules for exchanges, payments, funds, and government holdings. How do those rules relate to Bitcoin’s shared ledger?

Banks protect deposits with supervision and insurance. Bitcoin puts control in a key. Who holds that key, and what does keeping it safe involve?

Gold comes from the earth, central banks guide money and credit, and Bitcoin follows an issuance schedule. See how each approach shapes trust.

Any jeweler can weigh and test a gold ring. Anyone can download and check Bitcoin’s ledger. How each one shows it’s real, and what that checking costs.