In Satoshi’s whitepaper, the innitial setup is the same: Alice wants to send bitcoin to Bob. Directly, in an instant the BTC amount would be transferred and recieved. That’s the whole point.Transfer: Alice → BobWhat happens? Alice’s wallet constructs a transaction spending her UTXO. She signs it with her private key, broadcasts it to the Bitcoin P2P network, and a miner includes it in a block. Bob’s node sees the confirmation. Within 25 bytes of locking script the transaction is then complete...

In Satoshi’s whitepaper, the innitial setup is the same: Alice wants to send bitcoin to Bob. Directly, in an instant the BTC amount would be transferred and recieved. That’s the whole point.Transfer: Alice → BobWhat happens? Alice’s wallet constructs a transaction spending her UTXO. She signs it with her private key, broadcasts it to the Bitcoin P2P network, and a miner includes it in a block. Bob’s node sees the confirmation. Within 25 bytes of locking script the transaction is then complete...