Answers to “Bitcoin transactions and UTXO” questions:
Inputs (transactions) you have received but not have spend yet.
The wallet should decline the transaction, but if the wallet doesn’t decline, the network will.
Most wallets will recommend a reasonable fee. Some wallets you can set the amunt yourself.
Create new addresses, then it is hard to know who is behind the address
1.Unspent Transaction Outputs are transactions that you have not assigned yet to a wallet or another transaction recipient.
2. If you don’t have enough UTXO to cover the fee the transaction will not be executed.
3 This is determined by the UTXO input - the UTXO output
4. Each input has its own signature and each output has its unique signature and can be distributed to many recipients as well back to yourself.
1-Unspent UTXOs are outputs of a transaction that have not yet been used in another transaction.
2-The transaction would fail
3-The wallet would examine the blockchain & the transaction and suggest a fee that would likely proceed and not fail/the output minus input = fee
4-There is no way to determine which output came from which input
Describe what Unspent Transaction Outputs (UTXO) are.
The amount you can spend in your wallet.
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The transactions would not be able to go through.
How would a bitcoin wallet specify the transaction fee when creating a transaction?
The wallet will calculate the fee amount which is the remainder of the difference between inputs and outputs. A reduced fee will likely reduce the speed of the transaction
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Externally you cant identify which address is the recipient and which one went back to you. This provides anonymity in the transaction.
Describe what Unspent Transaction Outputs (UTXO) are.
UTXO’s earmarked for a particular wallet but not yet accessed for a transaction.
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
Multiple UTXO’s would be combined to cover the transaction cost.
How would a bitcoin wallet specify the transaction fee when creating a transaction?
By leaving a remainder from the cost of the transaction minus the amount of coin returned to the wallet.
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
No observer of the transaction would be able to discern the destination wallets of the transactions made.
Ah, makes sense. Thank you! 
Describe what Unspent Transaction Outputs (UTXO) are.
They are amounts of coins (outputs) that have been sent to you by others. These could be a number of different people having spent different fractions of a BC to you. If you have something to buy with a set price, the wallet will decide which portions of each transaction outfit to send to buy the product, and send the remainder of the transaction have back to you.
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The wallet would choose a fraction of another transaction outfit to send, and send the rest of your transaction out back to a wallet belonging to you
How would a bitcoin wallet specify the transaction fee when creating a transaction?
The fee would not be displayed explicitly in the calculation of transaction inputs and outputs, that would be implied by the difference between the two.
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
One or more of the destination wallets could be your own for the remainder of outputs to go to. Intended recipient could be an extra amongst transactions to yourself. Because none of the addresses have any ID, they are anonymous, by definition.
[ 1. Describe what Unspent Transaction Outputs (UTXO) are - it is the total accumulation of authorised inputs from different owners. Outputs are inputs to the new receiver when sending from your wallet.
2. What would happen if you don’t have any single UTXO that is large enough to cover for your transaction? - the wallet will look to within the existing blockchain to combination to form the needed amount.
3. How would a bitcoin wallet specify the transaction fee when creating a transaction?- The wallet will look into existing blockchain for historical data to estimate miners fees before sending signals to mine.
4. How could you use the notion of transaction inputs and outputs to increase privacy in your transaction? - they are a one-way system. No private key is shared within the network albeit your public key is broadcasted. It is immutable.
A transaction is created, signed and sent on your wallet by your private keys. UTXOs stands for Unspend Transactions Output. Each transaction can have different inputs, but at least 1 and on the other hand different outputs, but also at least 1. When A sends BTC to B, this transaction at B calls a UTXO. Only when B uses this BTC itself for a new transaction to another wallet, the term UTXO for this transaction will expire.
Not enough UTXOs in total; no transaction at all.
If a combination of UTXOs generates enough funds, the transaction will continue.
The difference between the input and output of the transaction.
By sending BTC to another address that you control. Or by sending it to different adresses, as this would increase the difficulty for others to determine which may be is yours and which is not.
UTXO’s are the result of previous inputs from transactions to a wallet. The sum of the UTXO’s in that wallet is the amount that can now be spent.
Your transaction would not be approved and would not be added to the blockchain. Instead you would need another, or even multiple UTXO to cover the total cost of the transaction. Any remaining amount is sent back to you.
The transaction fee would be implied based on the total of the inputs and outputs. Inputs are always equal to outputs plus the transaction fee. So the fee would be the result of the inputs minus the outputs. Wallets can automatically generate a fee that would help process the transaction in a reasonable amount of time. However, fees can be adjusted to speed up or slow down transactions. (Higher fee, faster transaction / Lower fee, slower transaction)
You could create many outputs and split up the amount of BTC sent to each one. You could have fractions of the transaction sent back to yourself or to different wallets that you own to increase privacy. From the outside, it is too difficult to tell how much BTC was sent to uniquely owned addresses and how much was sent back to yourself.
-Outputs from other transactions that are not spent yet. Inputs of the transaction should equal the outputs minus the transaction fee.
-The transaction wont go through
-Fee= Input-output
Unspent Transaction Outputs (UTXO) are the balances of crypto that have been sent to a wallet but not yet spent by a wallet.
It doesn’t matter if you don’t have any single UTXO that is large enough to cover your transaction, so long as you have multiple UTXO that when combined can cover the transaction. The difference between the combined value of all the UTXO and the transaction sent back to the wallet to become a new UTXO. If combining all UTXO does not add up to the desired transaction, the network will reject the transaction.
A bitcoin wallet looks at the network and what recent transactions have been paying to minors to have the transaction integrated into the block at reasonable speed to then propose a transaction fee for the desired current transaction. Sometimes it gives estimates for fast, normal, slow and lets the user pick (or use a slider, or type in an amount). Warning, slow can take days if it goes through at all.
You use the notion of transaction inputs and outputs to increase privacy in your transactions by spreading them to multiple addresses owned by yourself, so that they cannot all be tracked to a single address.
Unspent transaction outputs are anytime a new transaction comes in and it’s the balance that’s not used yet in another transaction.
The transaction will be void.
The fee is your input minus your output.
Nature of spending bitcoin transactions as outputs through multiple changes as well as the same input allows for anonymity.
1.Describe what Unspent Transaction Outputs (UTXO) are.
They are unspent transaction outputs witch you use as your balance in wallet.
2.What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
A transaction error.
3.How would a bitcoin wallet specify the transaction fee when creating a transaction?
It’s included in your output transaction.
4.How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Output and input transactions can be send to multiple addresses therefore you stay anonymous.
On the bitcoin blockchain transactions are represented explicitly and balances implicitly. Every transaction has inputs and outputs–those outputs may or may not be inputs to later transactions that have already happened–if not, they are Unspent TransaXtion Outputs 
You can have multiple UTXOs as input to a transaction.
Implicitly as input - output–the wallet will look at past transactions to guess what fee will get your transaction through ‘fast enough’
if you send money back to yourself using a different address you control, it’s indistinguishable from sending to an additional third party, unless you know which addresses are controlled by common parties
It could happen, but wallets usually give you info about the tx details before you send them.
You can use multiple UTXOs as inputs to a new tx. If you still don’t have enough then your tx would not go through.