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Describe what Unspent Transaction Outputs (UTXO) are.
UTXOs are the transaction amounts that are unspent or the unspent outputs from the previous transaction. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The transaction would not be initiated due to a single UTXO or multiple UTXOs not being large enough to cover the transaction amount. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
A bitcoin wallet takes the total inputs and subtracts them from the total outputs to get the transaction fee when creating a transaction. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
One could use multiple addresses to alleviate patterns in spending, thus reducing their footprint of inputs and outputs per address.
- Unspent Tx outputs from a previous Tx.
- Denied.
- Looks at recent Tx fees on the blockchain.
- New addresses each output makes it hard to link UTXOs to an individual.
Thank you, that helps clear things up! 
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UTXO’s are Inputs that have not been spent. The sum of all UTXO’s is the total balance available in my wallet.
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For a transaction to take place from the availability of funds point of view, we have to look at the total input or balance that we have available and not only at any single UTXO equal or bigger than the purchase we want to make. We can have several UTXO’s smaller than the purchase we want to make but if the total sum of them (Balance available in the wallet) is larger than the purchase we want to make then the transaction can take place.
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The transaction fee will always be initially calculated by the difference of Inputs minus Outputs; but since the fees are collected by the miners and they go to where the fees are bigger first, our wallet may suggest a different fee amount, one that would get the transaction done fast enough.
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We would increase privacy by sending any money returning to us to a different account or wallet.
- UTXO’s are “coins” which have been sent to another wallet, but which haven’t been used as inputs in another transaction yet
- The wallet sums up your total “balance” by adding all the inputs together. It you don’t have enough you can’t make the transaction
- Input always has to be = output so the fee is input = output - 1
- It’s always visible on the blockchain but nobody is able to tell who the wallet keys belong to
You don’t have to use all UTXOs, just enough to cover the tx.
Not sure I understand this formula, fee = input - output
What if you withdraw from an exchange where you did KYC? 
1.UTXO’S are Unspent funds that can be used by the private key holder.
2.The network will declined your transactions.
3.The wallet will query the blockchain for the latest tx fees.
4.by using multiple output addresses in your control.
No problemo, its really easy to misread something, glad that I had understood it correctly and you didnt shoot me down in flames, lol
Happy to help, sure you will be able to help me sometime soon too 
- The sum of UTXO gives the balance of the wallet. These are all received transactions that I have not to spend/sent yet.
- Transactions would be denied.
- It depends on your transaction size, hashrate, and miners “greed”
paid in satoshi/byte 
- Create multiple addresses output transactions.
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1.UTXOs are funds received (input) but are not yet spent or sent to anyone
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when you don’t have a single UTXO thats large enough to cover for a transaction , you sum the various units of UTXOs to have an input that will enable you create the large transaction.
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Input - output = tx fee
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by creating multiple addresses
Hashrate doesn’t influence the price of txs, its just a matter of how much the network is congested with unconfirmed txs.
1.the balance of your wallets transactions
2.it would not happen
3.it checks the blockchain for resonable fees and deducts accordingly
4.generate new or multiple outputadresses
- Describe what Unspent Transaction Outputs (UTXO) are.
UTXOs are inputs from a previous transaction, waiting to be put into a transaction
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
a transaction could not occur
- How would a bitcoin wallet specify the transaction fee when creating a transaction?
it would take the Inputs - Outputs, and take into account recent fees
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
create multiple outputs to send the coins back to yourself
- your Bitcoin
- No transaction.
- Inputs and output.
- Use a new address each transaction
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Describe what Unspent Transaction Outputs (UTXO) are.
Remainder of digital currency after a cryptocurrency transaction has been executed -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
Go back to work to earn more money to fund the transaction -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
Clients are allowed to set the customer fee for each transaction in satoshi per byte(sat/b) by pressing Customize Fee and indicating the amount. One has to be careful to set an appropriate amount to make sure the transaction is confirmed in a timely manner and accepted. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Keep changing addresses of reception
- UTXO is the amount of bitcoin balance available in the wallet to spend. The wallet queries the blockchain ledger with the wallet private key to get the list of UTXO available for the private key. The wallet then calculate the sum of UTXO to the get the balance.
- If you don’t have enough UTXO that is large enough to cover your transaction, your transaction would be rejected. A new rejection transaction should be created to log the rejection
- The wallet automatically includes the best transaction fee in the output of the transaction. The best transaction fee is selected from the previous block
Transaction fee = input -output - A transaction can input can be sent to multiple addresses. The transaction change ( excess amount of the transaction ) can be resent back to the sender
Where will you log the rejected tx?
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Describe what Unspent Transaction Outputs (UTXO) are.
It is the amount of digital currency left after someone has executed a bitcoin cryptocurrency transaction.
They are inputs that come into your pocket and you have not spent them yet. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
You cannot spend it and the transaction will be denied. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
The difference between inputs and outputs. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
The output can be sent to numerous addresses and a hacker will not know which address belongs to whom.
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Transactions received in the wallet which are not spent and they remain as outputs until they are sent to someone.
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The transactions won’t be executed.
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The bitcoin wallet will calculate a transaction fee before the creating the transaction. input should be equal to output + transaction fee so that the transaction will be executed.
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Need to generate new output addresses.
- UTXO’s are bitcoin transactions that you have received and have to spend, The UTXO’s are inputs and all inputs have to be spent.
- Wallet would add up all the UTXO’s until you have enough to cover your transaction, if there is not enough the transaction would be invalid, it would not proceed
- The fee is the difference between the transaction inputs and the transaction outputs
- Use multiple addresses