2013-05-12 ZeroHedge: Visualizing How A Bitcoin Transaction Works

[n8rwJeTt8TrrLKPa55eU]

Following our last primer on the digital currency, prices have somewhat stabilized (despite the ongoing efforts of TPTB to regulate it out of existence). The following infographic provides a step-by-step illustration of how a bitcoin transaction occurs.

http://www.zerohedge.com/news/2013-05-12/visualizing-how-bitcoin-transaction-works

[TraderTimm]

That thread was filled with the usual trolls - but I think it doesn't matter anymore what they think. Enough have seen the potential to ignore a bunch of keyboard rabble.

[teknomunk]

I found the infographic to be both accurate and relatively simple.  It includes just enough technical details to be accurate, but not so much that the process gets buried in the details.  I can't really judge how understandable it is to somebody not familiar with cryptography because I can't temporarily forget how cryptography works.  The only inaccuracy I could find was that the block subsidy is now 25 BTC and not the 50 BTC the graphic shows, but that would be fairly simple to correct.  I could not detect any fundamental errors.

Well done, zerohedge.