Exactly 5 years ago Wired wrote “The world’s most popular digital currency really is nothing more than an abstraction. So we’re destroying the private key used by our Bitcon wallet.” The loss is currently worth $124,453.58

Exactly 5 years ago Wired wrote "The world’s most popular digital currency really is nothing more than an abstraction. So we’re destroying the private key used by our Bitcon wallet." The loss is currently worth $  124,453.58 submitted by /u/edlund10
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Bitcoin – The Currency of the Internet

What exactly does redeem in the context of bitcon mean?

In this website, it says “The purpose of pay-to-script-hash is to move the responsibility for supplying the conditions to redeem a transaction from the sender of the funds to the redeemer.”

I looked all over the internet, and could find no clear explanation of what redeem is in the context of bitcoin. Is it the receiver of the bitcoin?

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