14. Medium of
exchange
Users pay fee to get
transactions confirmed
Miners supply secure
transfer using proof of
work
Unit of
account
Users use the unit of
account to:
Trade (medium of
exchange)
Hold (store of value)
Current holders form
the supply side
4 . 2
15. Medium of
exchange
Users pay fee to get
transactions confirmed
Miners supply secure
transfer using proof of
work
Subject to a quota
Unit of
account
Users use the unit of
account to:
Trade (medium of
exchange)
Hold (store of value)
Current holders form
the supply side
4 . 3
17. Miner Fees
The bitcoin network requires a small fee (usually 0.0005 to
0.0001 BTC) to ensure payments arrive quickly. When a
customer pays from a Coinbase wallet, we pay this fee on
the customer’s behalf so they don’t need to include it. If
the customer pays from a non-Coinbase wallet, they will
need to include their own miner fee to ensure it arrives
promptly.
Intermediaries such as Coinbase can and
do rent seeking
4 . 5
25. CashAddr format
Reduce confusion from users between Bitcoin core
and Bitcoin Cash
CashAddr
Extensible
Cheap to compute
Encode well in QR code
Better error detection
Possibility for error correction
5 . 4
