Fees calculation in Bitcoin (and other cryptocurrencies) explained

My biggest motivation is to provide a simple explanation of the cryptocurrency technology.

No offense meant to other writers but most articles in this space are a difficult read. They are written from the cryptocurrency technology perspective. I have seen engineers who have struggled to understand the inner working of a cryptocurrency. Even someone like me who has read about bitcoin since 2010 finds it difficult. I had to read tons of posts and stackoverflow questions to try and get this post correct.

And in that case I can just imagine how much difficult it is for someone whose understanding of technology is moderate or low.

Just like you most of my tech friend point out that my posts are long with lots of example :) But the finance guys at my company still berate me saying these posts moderately difficult.

So, I try to cut down information and make posts smaller. Actually this is my longest post yet at 12 minutes read on medium.

Now I have been reading on Segwit which is already activated on Bitcoin. While I think I have a good handle on the proposed savings I don't think I can explain it with concrete examples. In that regard Lightning network is like years away.