The Nuts-and-Bolts of the Bitcoin Protocol
[“How the Bitcoin Protocol Actually Works.”](http://www.michaelnielsen.org/ddi/how-the-bitcoin-protocol-actually-works/) A lengthy, somewhat technical explanation by writer/scientist/programmer, [Michael Nielsen](http://michaelnielsen.org/blog/michael-a-nielsen/) (via [Bruce Schneier](https://twitter.com/schneierblog/)).
**Related**: “Bitcoin: Questions, Answers and Analysis of Legal Issues” ([pdf](http://www.fas.org/sgp/crs/misc/R43339.pdf)) – Congressional Research Service (January 2015)