Ideas in this flowchart

• Bitcoin supports a decentralized shared ledger.
• A decentralized ledger requires many participants to communicate quickly.
• Many participants must coordinate with one another.
• The participants need near-instant communication.
• They must maintain a common record.
• The Internet supplies the required network.
• The Internet enables near-instant, universal communication.
• Bitcoin adds mechanisms for maintaining the shared ledger.
• Bitcoin provides mechanisms for displaying records.
• Bitcoin provides mechanisms for preserving ledger integrity.
• Bitcoin provides rewards for ledger maintenance.
• Participants dedicate computing resources to the system.
• Those resources support maintenance of the shared ledger.
• Bitcoin software issues new bitcoins as rewards.
• Miners confirm transactions.
• Transaction fees are part of the reward system.
• Bitcoin issuance declines over time.
• Transaction fees are expected to become more important.