Explore a comprehensive analysis of Bitcoin's transaction ledger functionality in this 22-minute conference talk presented at Crypto 2017. Delve into the block structure, motivations behind the technology, and core concepts of Bitcoin. Examine the state, activations, and hybrid functionalities of the cryptocurrency. Gain insights into the main theorem proposed by researchers Christian Badertscher, Ueli Maurer, Daniel Tschudi, and Vassilis Zikas as they present their paper on Bitcoin's composable treatment as a transaction ledger.