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Unspent Transaction Outputs (UTXO) are amounts that a specific bitcoin address has been sent and are available to spend. An address can have multiple UTXOs of differing values available for it to spend. These represent amounts sent to the address that are as yet unspent.
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If you don’t have a large enough single UTXO value to cover a transaction, multiple UTXOs can be combined.
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A bitcoin wallet looks at previous fees to determine a reasonable amount ensuring the transaction is processed in a reasonable time.
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When there are 2 or more outputs, it is not possible to know the value of an individual output, only the sum of them combined. Therefore each individual outputs value is private, only known by the sender.
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- Unspent Transaction Outputs or UTXOs serve as globally-accessible evidence that you have Bitcoin in your digital wallet.
- The transaction would not be processed.
- Wallets examine the blockchain’s activity level and automatically provide a recommended fee that is perfectly serviceable the majority of the time.
- Use one or more inputs and creates one or more outputs with specified values.
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1.) UTXOs are the unspent transaction output, meaning whatever you have leftover after a transaction is made.
2.) If you don’t have a single UTXO that covers the whole transaction, than you have to use multiple UTXOs that will cover the transaction with their combined value.
3.) The transaction fee is the difference between the input and output.
4.) Multiple transactions can be made within one transaction. You can send bitcoin to multiple different people/places in one transaction.
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UTXOs are unspent inputs in your crypto wallet. The blockchain tracks UTXOs, so inputs have to be spent, even if it means some of the outputs go back to your wallet.
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The transaction will not be accepted by the blockchain or you could use more than one UTXO (if you have any more), if they add up to what your transaction +fee would be.
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inputs-outputs+fees
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Make use of different addresses so it is hard to tell which output goes back to your wallet or send to a different wallet.
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UTXOs are the summation of inputs received into wallets that can then be utilized as outputs for transactions.
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If you do not have single UTXO for a transaction then the wallet will not complete the transaction.
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A bitcoin wallet would specify the transaction fee by searching the blockchain for the next available position (or specified position (determined by the wallet holder if choosing a different fee)) and then subtracting it from the output (inputs must equal output plus fee)
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Transaction inputs and outputs could increase transaction privacy by having addresses change for varying outputs on each new transaction from one wallet to the next as long as inputs equal outputs minus fees.
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- The amount you have available in your wallet to transact.
- The transaction will not go through.
- By subtracting the input less the output, you get the fee.
- Increase the number of outputs
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What do you mean? Of course you can know the values of each individual output (these become new UTXOs). But you can’t know to whom they have been sent to. 
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UTXOs are tx (funds) that you (or better your wallet, which controls your private keys) received and are unspent.
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The tx would not be created/invalid tx
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The wallet calculates the best possible tx fee for a specific tx(or in some wallets you can manually determine the tx fee)
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You could send the UTXOs to several different addresses that you control (with your private keys). There is no way to determine (on the blockchain), if you send the funds to another person or back to yourself.
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Describe what Unspent Transaction Outputs (UTXO) are?
A UTXO is the output from a transaction performed by a node, before that output is used as input in another transaction, either by another node or the same node . Essentially, a UTXO represents recieved funds.
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
If any single UTXO is not large enough to cover a transaction, the node/wallet will check for other UTXO’s to see if it can accommodate the transaction amount. If there are no other UTXO’s or the UTXO’s you have are not large enough, then the transaction may not be able to be carried out.
How would a bitcoin wallet specify the transaction fee when creating a transaction?
Bitcoin wallet specifies the transaction fee by subtracting the output from the input. The fee is not specified, rather it is implied and will be transaction specific, according to the sizes of the various UTXO’s involved. Thus there is no linear standardisation of fees. Although fees are optimized/balanced 2 transactions with the same output may be constructed with differing UTXO’s and thus have a differing transaction fee. Miners will choose the transaction with the (usually slightly?) higher fee, first.
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
To increase privacy in your transaction, you could construct it so that you are the recipient of some of the outputs. i.e, you could spend your UTXO via another address which is also controlled by you, or direct UTXO’s back the address the originated from. When seen from outside the system, no-one can tell who the recipients are, without a lot of digital pathology.
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Maybe you can help me understand this better.
I thought that you could see the recipients of the transaction but could not distinguish the proportion allocated between them.
1. Describe what Unspent Transaction Outputs (UTXO) are.
They are the outputs of previous transactions that are inputs for your new transaction.
2. What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
It will not be processed
3. How would a bitcoin wallet specify the transaction fee when creating a transaction?
The wallet scans the blockchain for last used fees (input-output) and generates an average
4. How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
You could send a transaction to multiple outputs that belong to the same entity
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- Utxos are past Transactions were my wallet was the recipient and which the sum makes my wallet’s balance positive.
- If I don’t have a single big enough Utxo to cover for my next transaction, my wallet will sum enough remaining Utxos in order to provide sufficient funds for the payment.
- A bticoin walett would specify the fee as following fee= Sum of Imput-Sum of Outputs
- To increase privacy I would try to use as much input and outputs as possible to make transaction less humanly traceable
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Yes, but you can determine what portion went to what address. If the addresses are not linked to any person then they are considered private
Maybe I just misunderstood your initial answer.
You only need to use multiple outputs in case someone already knows the address whose UTXO you used as an input one can determine that the rest of the inputs could also belong to you. Since you’re making the transaction . Though its not a guarantee since it can also be part of a coinjoin.
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1Describe what Unspent Transaction Outputs (UTXO) are.
UTXO is the output to construct a new transaction
2 What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The transaction would be declined
3 How would a bitcoin wallet specify the transaction fee when creating a transaction?
The wallet choose the best TX fee for yourself. It can be calculated: TX fee = Inputs - Outpus
4 How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Use different address.
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- When someone sends funds to you and you have yet to spent these funds they are called UTXOs and they are lying around pretty much until you use them in a transaction.
2)The transaction will be denied and you won’t be able to proceed.
3)The wallet will calculate the fee based on the difference between the inputs and outputs.
4)You can have many different outputs and inputs in a transaction and from the outside you can’t tell where the outputs went.
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UTXO outputs are all the unspent balance a particular private key has to spend
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you can use multiple UTXO in a transaction, as long as the balance of the UTXOs is greater than what you want to spend
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transaction Input - output = fee
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one can not know who controls a particular bitcoin address in a block chain transaction. so potentially you can use a different address for each transaction if necessary.
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- UTXO are the amount of BTC you received. The total amount of UTXO is your balance
- The transaction will not occur
- The wallet will 1. choose one automatically or 2.let you choose your transaction fee
- To have multiple transactions at the same time. Within those transactions you transact to yourself making it impossible to see to whom exactly the BTC is sent
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You can just send to a different address you own within the same tx
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- UTXO’s are transaction outputs that haven’t been spent. Your wallet communicates with the blockchain and adds up your UTXO’s to find out how much BTC you can spend.
- The network would reject your transaction
- It looks at previous transactions in the blockchain and creates a fee that will get your transaction into the blockchain faster.
- You can send money to yourself and it is completely anonymous. That way no one can know how much money was really sent in any given transaction.
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