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CH02::chain of txes: update illustration, add detail
- Previous illustration was cut-off, both in the source and the print edition. We update the illustration to not only correct that but also provide more accuracy: - Instead of showing input values, the illustration now shows input references to prevouts. - Instead of using BTC denomination, it use satoshis - Instead of putting tx fees in the output category, it shows them outside the transaction since they're an implicit value - The source for the new illustration is provided as a comment to make future editing easier - The text is updated to refer to the new illustration appropriately. - Text now mentions the implicit input value - We describe that we use satoshi values because that's what's in the protocol
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@ -87,8 +87,8 @@ _invoice_ (see <<invoice-QR>>).
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Unlike a QR code that simply contains a destination Bitcoin address, this
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invoice is a QR-encoded URI that contains a destination address,
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a payment amount, and a description such as "Bob's Store - Order
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512". This allows a bitcoin wallet application to prefill the
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a payment amount, and a description.
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This allows a bitcoin wallet application to prefill the
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information used to send the payment while showing a human-readable
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description to the user. You can scan the QR code with a bitcoin wallet
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application to see what Alice would see.
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@ -196,23 +196,59 @@ image::images/mbc2_0203.png["Transaction Double-Entry"]
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((("chain of transactions")))Alice's payment to Bob's Store uses a
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previous transaction's output as its input. In the previous chapter,
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Alice received bitcoin from her friend Joe in return for cash. That
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transaction created a bitcoin value locked by Alice's key. Her new
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transaction to Bob's Store references the previous transaction as an
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input and creates new outputs to pay for the podcast and receive change.
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The transactions form a chain, where the inputs from the latest
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transaction correspond to outputs from previous transactions. Alice's
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key provides the signature that unlocks those previous transaction
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outputs, thereby proving to the Bitcoin network that she owns the funds.
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She attaches the payment for the podcast to Bob's address, thereby
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"encumbering" that output with the requirement that Bob produces a
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signature in order to spend that amount. This represents a transfer of
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value between Alice and Bob. This chain of transactions, from Joe to
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Alice to Bob, is illustrated in <<blockchain-mnemonic>>.
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Alice received bitcoin from her friend Joe in return for cash.
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We've labeled that as _Transaction 1_ (Tx1) in <<transaction-chain>>.
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[[blockchain-mnemonic]]
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Tx1 sent 0.001 bitcoins (100,000 satoshis) to an output locked by
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Alice's key. Her new transaction to Bob's Store (Tx2) references the
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previous output as an input. In the illustration, we show that
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reference using an arrow and by labeling the input as "Tx1:0". In an
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actual transaction, the reference is the 32-byte transaction identifier
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(txid) for the transaction where Alice received the money from Joe. The
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":0" indicates the position of the output where Alice received the
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money; in this case, the first position (position 0).
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As shown in the illustration, actual Bitcoin transactions don't
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explicitly include the value of their input. To determine the value of
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an input, software needs to use the input's reference to find the
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previous transaction output being spent.
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Alice's Tx2 contains two new outputs, one paying 75,000 satoshis for the
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podcast and another paying 20,000 satoshis back to Alice to receive
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change.
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////
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@startditaa
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Transaction 1 Tx2 Tx3
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Inputs Outputs In Out In Out
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+-------+---------+ +-------+--------+ +-------+--------+
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| | | | | cDDD | | | |
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<--+ Tx0꞉0 | 100,000 |<--+ Tx1꞉0 | 20,000 | +-+ Tx2꞉1 | 67,000 |
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| | | | | | | | | |
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+-------+---------+ +-------+--------+ | +-------+--------+
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| | cDDD | | | | | | | |
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| | 500,000 | | | 75,000 |<-+ | | |
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+-------+---------+ +-------+--------+ +-------+--------+
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Fee꞉ (unknown) Fee꞉ 5,000 Fee꞉ 8,000
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@enddittaa
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////
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[[transaction-chain]]
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.A chain of transactions, where the output of one transaction is the input of the next transaction
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image::images/mbc2_0204.png["Transaction chain"]
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image::images/transaction-chain.png["Transaction chain"]
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[TIP]
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====
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Serialized Bitcoin transactions---the data format that software uses for
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sending transactions---encodes the value to transfer using an integer
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of the smallest defined onchain unit of value. When Bitcoin was first
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created, this unit didn't have a name and some developers simply called
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it the _base unit._ Later many users began calling this unit a
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_satoshi_ (sat) in honor of Bitcoin's creator. In <<transaction-chain>>
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and some other illustrations in this book, we use satoshi values because
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that's what the protocol itself uses.
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====
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==== Making Change
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images/transaction-chain.png
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