The Mint transaction, which becomes part of the block chain, establishes consent that the given bitcoin address owns one BTC less and that simultaneously the gi

The Mint transaction, which becomes part of the block chain, establishes consent that the given bitcoin address owns one BTC less and that simultaneously the given Zerocoin becomes valid. Minting takes place within the block chain, unlike Dollar exchanges on MtGox, which are not directly visible as such in the block chain.