1 - UTXOs are funds available for a specific private key to be spent
2 - The transaction will be rejected
3 - Input total - (amount to transact + amount to send back to own address).
4 - By the use of your own different bitcoin addresses(as output) to send your money back.(the change)
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They are not in your wallet. The wallet shows your balance as the sum of UTXOs on the blockchain 
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Describe what Unspent Transaction Outputs (UTXO) are.
They are the balance left as the sum of UTXO’s on the blockchain. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction? Then the transaction would be declined if your UTXO is not large enough to cover the transaction.
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How would a bitcoin wallet specify the transaction fee when creating a transaction?
Because the wallet can check the blockchain and figures out the correct fee. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction? Because several addresses and outputs can result from one input.
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- Describe what Unspent Transaction Outputs (UTXO) are.
Transactions allocated to you where you havent spent the proceeds of yet. - What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
multiple utxo can be used to get to balance required - How would a bitcoin wallet specify the transaction fee when creating a transaction?
it is the difference between the final cost and initial cost - How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Use a different address for each transaction
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Describe what Unspent Transaction Outputs (UTXO) are.
UTXO’s are the outputs of a transactions. For instance if someone sent you .5 BTC once you get them they are considered UTXO. When you spend them they are no longer a UTXO for you but for the private key you are sending it too. Your wallet will add all UTXO’s to give you your balance. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
Then your wallet will put together multiple UTXO’s and if it is over the amount the rest is send back to your address. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
The fee is the difference between the input and output. Input-output gives you the fee.
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction? You can increase the number of output addresses to make the transaction more private. Bitcoin Transactions are inherently private though. There can be many inputs and outputs for a single transaction.
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1. A UTXO is an unspent transaction input, and is basically the balance of a transaction or part of a transaction, in the situation that only some of the amount was necessary to complete transaction and the transaction fees. In that case the remaining balance of the output would be returned to the original sender as another UTXO.
2. In the event that one singular UTXO isn’t large enough to cover the transaction, another, full UTXO will be added until the sum is reached or surpassed.
3. A wallet specifies the transaction fee based on the “change” returned to the wallet from the former UTXO. This change is determined by the cost of initial UTXO minus the transaction and the transaction fee.
4. By sending the transaction from a different wallet than you receive transactions to, you can improve your privacy.
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1.- The sum of all UTXO is the balance. The blockchain does not have balance it is calculated by the wallets.
2.- the wallet will take as many UTXO as needed to cover the amount plus the fee and in case there is a remaining it will be returned.
3.- the wallet determines the fee calculating the arithmetic difference between the inputs and the outputs.
4.- using a different address in every transaction.
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Describe what Unspent Transaction Outputs (UTXO) are.
Unspent transaction outputs are Bitcoin that are received from someone else to your address that have not been spent by you, the new recipient. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
You would have to combine UTXOs that are equal to the amount that you need for your transaction plus transactions fees needed to make the transaction. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
The wallet would construct the transaction fee by taking the difference between the input - the output to get the transaction fee amount. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
You can send BTC from different wallets or different addresses.
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1.Describe what Unspent Transaction Outputs (UTXO) are.
For your wallet, “UTXOs are the amount of money that you receive from previous transactions and the total money that you can spend.
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
It may be ok if your total UTXOs can cover your transaction. If not, your transaction won’t be confirmed.
- How would a bitcoin wallet specify the transaction fee when creating a transaction?
The input equals the unspent transaction output plus the transaction fee
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Have more than one addresses
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Unspent Transaction Outputs (UTXO) are unspent inputs. So, we have an empty wallet and someone sends me .05 bitcoin. The.05 bitcoin is represented by UTXO’s that come into my wallet as inputs that now can be spent.
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If you didn’t have any other UTXO’s then you would not be able to construct a transaction at all. But if you did have other UTXO’s then you would need to construct a transaction such that you bring in additional UTXO’s and send the remainder back to a wallet that you control.
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Transaction fee would be the difference between inputs and outputs. the wallet will set the exact fee based on current rates.
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By using multiple wallets and never using the same wallet twice.
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An UTXO is an unspent transaction output. They are entries in the blockchain that are used by your wallet to calculate your balance/input for future transactions.
The transaction will be rejected by the blockchain.
A transaction fee is proposed by the wallet and is a small portion if the UTXO.
All transactions are public, but the owner of the address (private key holder) should know privacy sensitive information of the address owner. Is is possible to generate new addresses as output of a transaction instead of send a portion of a transaction back to the same address.
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- Describe what Unspent Transaction Outputs (UTXO) are. UTXOs are the outputs from the inputs of transactions
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction? You won’t be able to make a transaction
- How would a bitcoin wallet specify the transaction fee when creating a transaction? You take the leftover input after outputs are taken
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction? By using multiple addresses
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UTXO’s are bitcoins that you received into your wallet that have not been spent or sent as outputs to another address yet.
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The transaction would either be denied or if you had had any smaller UTXO they would be added to the transaction.
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It would calculate from the network the average fees that are currently being paid to get your transaction on the blockchain in a timely manner.
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You could either send or receive from multiple different addresses so that it would be harder to pinpoint exactly who the funds are coming from or where they are going.
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You can just use a different address
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Describe what Unspent Transaction Outputs (UTXO) are.
It is your money within a wallet. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
Blockchain will not allow the transaction -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
It choose what gets you into the Blockchain the fastest some give you options.
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
I’m don’t know but my guess is having outputs equal inputs you no one can cheat the system.
@Khary
Bro welcome to the learning Oasis lol. So glad you joined. Nice answers. Just to adding my 2cents to #2 and #4…
So for #2 When you create a transaction, your software will search a set of UTXO that can best fund your transaction. If you don’t have a single UTXO large enough it will use any number of UTXOs available to cover the transaction.
#4 for increased privacy for yourself you can mix inputs and outputs from other wallets to make your exact moves unclear. Or say instead of sending 0.1btc to a person send 1 btc and get 0.9 in return to a different address of your own and 0.1 to them.
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- UTXO is your wallet balance.
- The transaction will be rejected.
- The transaction fee will found by input - output.
- As Input creates multiple outputs, it is difficult to track.
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UTXOs are outputs from preceding transactions which form the UTXO inputs for the transaction under consideration.
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Without sufficient UTXO inputs, a transaction will fail.
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Wallets specify transaction fees by subtracting the UTXO inputs from the UTXO.
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To increase privacy one could play with the number of UTXO inputs and outputs; perhaps stagger a transaction over time using a number of sub-transactions.
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UTXO are the amounts left over from a transaction that has to come back to the user from a transaction.
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You have to send multiple amounts that would exceed the intended value inorder to cover the amount needed pay for something plus the fee and the remainder get sent back to the remitter.
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A bitcoin wallet will calculate the fee whereby the amount sent minus the amount received, the remainder gets allocated to the fee.
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Transaction inputs and outputs utilize public keys, no one knows who is the owner of those keys, they are fully visible in the blockchain as a trail but the owner of the private key is never revealed.
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