How to Understand Bitcoin in a Simple Way

So let's just try to walk through some, like a simple, I'm going to explain how I'm understanding it in a simple way. And then you tell me what did I get wrong or what to add to that? So as I understand, the user in this case is, he might have some on-chain Bitcoin and he wants to put it into Arc. He goes to an ASP and he's creating VTXOs, like virtual TXOs, virtual outputs. And we can trade them all around in like using the ASP. And then the important point, as you mentioned, is that the user can unilaterally exit, right? He doesn't have to ask the ASP for his