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Replying to Avatar waxwing

No, there is no such thing as "a bitcoin" or "a satoshi", in the software, in memory on your computer, or in the protocol. This is actually crucial, and not just semantics. If each satoshi were an actual thing, then they could be traced from inputs to outputs. All that exists is an accounting mechanism of (output measured value - input measured value).

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OBSERVANTAPE 8mo ago

Forgive my ignorance, is this essentially highlighting. That it’s a ledger system and not a token system?

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waxwing 8mo ago

I guess you could put it like that, yes.

Note that chaumian ecash is not this way.

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