Our bitcoin transaction ledger now contains 512200+ (at the time of writing) immutable pages of history detailing nothing except who sent how much BTC to whom...
But what exactly happens during each transaction? What are public and private keys and why is it such a big deal to keep the latter a secret? What's in a wallet? What does it mean to verify or "sign" a message in this context? In this post I will walk through what happens when you send and receive bitcoin and what it means to "own" cryptocurrencies.