Bitcoin works a bit like a bank does but you share your transaction with everyone instead of just the bank in order to get it processed and they all log it.
Your privacy is maintained because you have addresses that identify your funds but are hard to trace back to you (unless you bought the funds on a kyc exchange or tell someone that address is yours - such as the recipient if used to buy something online).
Each block that gets shared can confirm many transactions and is targeted to be mined every 10 minutes by the network which is how transactions get processed. The miners try to find a number below a specific target by altering the data in their blocks and then hashing it (you can find a function online that converts text into sha256 if you want an example of this that might be easier to understand).
Bitcoin also can only be spent if you provide a valid singsture so you can't spend someone else's funds without a singsture or a private key - private keys are what are used to sign things and generate public keys that are shared to verify that the signer did use the private key.
I'm halting my explanation here to not give too much detail you might not want.
Topic: About this bitcoin (Read 13 times)
Hi evening every one on this forum am new here and want to use this means to lean a lot of this as i can get while the saying that there is no knowledge in the grave,so please forum mate brain box my boss help enlight me for the person hearing about bitcointalk or bitcoin currency more deep,i want to know why becaue with the little i no is introduced by satoshi and is a digital currency how can it be used in buying and selling goods.
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