01 / THE NETWORK
Digital value, verified by a network.
Bitcoin is a peer-to-peer system in which participating computers apply shared rules to transactions. A private key authorizes spending. Confirmed transactions become part of a public ledger.
Mining places transactions into blocks using proof of work. A payment appearing in a wallet and a payment receiving confirmations are different stages. Confirmation times vary; no fixed settlement time is promised.
S01 · Bitcoin.org →Private-key signatureBroadcast
Network validationConfirm
Inclusion in a block
Simplified conceptual sequence. This site never asks for a wallet connection, private key or recovery phrase.
02 / THE UNITS
You do not need a whole bitcoin.
One bitcoin (BTC) is divided into 100,000,000 satoshis (sats). Bitcoin's current consensus rules limit total issuance to approximately 21 million BTC. A supply limit does not establish a market price or guarantee purchasing power.
S04 · River →03 / CUSTODY
Who can authorize a transaction?
Custody is about control of signing keys and recovery arrangements. Compare responsibilities before choosing a service or a wallet.
| Arrangement | Control | Questions to ask |
|---|---|---|
| Third-party custody | A provider controls spending keys. | How are assets held? Can withdrawals be suspended? What happens if the provider fails? |
| Self-custody | You control the required keys. | How will you protect backups, verify addresses and recover access? |
| Multisignature | A threshold of keys authorizes spending. | Who holds each key? Can the threshold still be met after a loss or provider failure? |
A 2-of-3 setup can tolerate one unavailable key if two valid signing keys and the required wallet information remain available. Its usefulness depends on implementation and recovery procedures.
S08 · Unchained → S02 · Bitcoin.org →04 / ORGANISATIONAL READINESS
Start with governance.
A business considering Bitcoin needs a documented purpose, spending authority, liquidity policy, custody plan and accounting process. Its board and qualified advisers must evaluate its own legal and tax obligations.
- Define acceptable exposure and stress-test a severe price decline.
- Separate authorization, transaction preparation and verification.
- Document recovery and succession; rehearse without exposing secrets.
- Verify jurisdiction, provider eligibility, fees and reporting requirements.