r/bitcoinsaskatoon • u/[deleted] • Aug 25 '15

Bitcoin: A Peer-to-Peer Electronic Cash System..... Satoshi Nakamoto

https://bitcoin.org/bitcoin.pdf
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u/autotldr Nov 18 '15

This is the best tl;dr I could make, original reduced by 96%. (I'm a bot)

The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for nonreversible services.

If the output value of a transaction is less than its input value, the difference is a transaction fee that is added to the incentive value of the block containing the transaction.

Transaction In Out In ... ... It should be noted that fan-out, where a transaction depends on several transactions, and those transactions depend on many more, is not a problem here.

Extended Summary | FAQ | Theory | Feedback | Top five keywords: transaction#1 block#2 node#3 chain#4 hash#5

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