When buying a coffee, a person, the Buyer, sends a Transaction template to the Seller.

The template contains:

• line items
  • quantity
  • price
• total price
• payment source

This may also contain Buyer information, such as name.

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A bitcoin transaction can requires one or more inputs, called UTXOs. A bitcoin transaction outputs one or more UTXOs.

UTXO stands for "Unspent Transaction Output"

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In a wallet, a user can:

• receive funds
• send funds to a TXID
  • send specific funds by selecting specific UTXOs

A user creates a wallet. As part of the wallet creation process, the user creates a mneumonic, or 12-word phrase that can be used to obtain the private/public key pair.

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• BIPS refers to Bitcoin Improvement Proposals
• Bitmap Theory Whitepaper

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BIP 270 is a bitcoin protocol to pay invoices.