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Bitcoin has become a fixture in today’s modern society, a source of innovation and mystery, and has begun to change the way we think about currency. Because of Bitcoin’s success, many modern cryptocurrencies are simply variations on the Bitcoin framework. These Bitcoin derivatives are referred to as Altcoins. By understanding the cryptocurrency framework, through analysis of Bitcoin, examiners will be capable of understanding artifacts in a wide range of cryptocurrencies. In this chapter, we learn Bitcoin through example by first understanding the underlying theory and then seeing it in action. By using the MultiBit HD client, we observe transactions coming across the wire and look for their network and disk-based artifacts. From this approach we accomplish two things: the reader obtains a technical understanding of how cryptocurrencies work and how to forensically analyze and evaluate cryptocurrency artifacts.
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