13 May '13, 2am

Visualizing How A Bitcoin Transaction Works

Visualizing How A Bitcoin Transaction Works

Bob has bitcoins, Alice has bread. Bob transfers x number of bitcoins to Alice by intitating the transaction process, while Alice hands y number of loafs to Bob. Bob goes home with bread. The transaction gets confirmed an hour later by miners. If the transaction goes bad, Alice then knows to never sell bread to Bob again.

Full article: http://www.zerohedge.com/news/2013-05-12/visualizing-how-...

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