Quote from: 20kevin20 on May 19, 2020, 01:13:26 PM

This finding is amazing and doesn't fit only newbies. It fits me as well. I know most of the way BTC works but some in-detail stuff this simulator explains that I've missed is simple to understand and widens your existent knowledge.

Yes! I was also surprised when I encountered this website, it actually shed some light on the vagueness of the bitcoin protocol. And now I understand the basic concept, it should be easy to dive into a more technical side of bitcoin.

Quote from: Yourhomeboy on May 19, 2020, 03:34:12 PM

I didn't understand the calculation aspect that is related to private keys. How we can find out that Person A is not fake claiming to be Person C I think its a feature that the bank use to beat bitcoin.

It's the Digital Signature.
It actually has the resemblance of how the banking system works. In order for someone to transfer money from point A to point B, the bank will request a handwritten signature that will verify the legitimacy of the sender. It is the same on how bitcoin transaction works but the difference is, instead of the handwritten signature, we are going to produce digital signature as a verification for the sender using the private key and the transaction (recipient address, amount of BTC to be transferred.)

transaction + priv_key = digital_sig => means that you sign the tx using your priv_key without exposing it to the public. Your tx is now ready to be published in the bitcoin network.

digital_sig + pub_key = transaction (substitution)
digital_sig = transaction + priv_key

transaction + priv_key + pub_key = transaction

In order to prove the legitimacy of the sender, the priv_key and pub_key pair should be match.