- Is your wallet balance
- Transaction would be declined
- Input and output difference.
- Use different addresses to receive something.
] An Unspent Transaction Output (UTXO) that can be spent as an input in a new transaction
2] Sum all UTXOs linked to the wallet address, deduct the new UTXO from this then assign the difference as a new UTXO linked to the wallet address
3] The fee is a recommendadion from the sending wallet
4] Generate random output addresses
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UTXO’s are transactions send to your wallet.
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The wallet will sum up 2 or more utxo’s needed to cover the transaction and will send you change.
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The wallet will look in the block the previous transactions fee’s and will choose the one suitable for you.
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Generating new addresses it make it difficult to track.
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- The UTXOs are the outputs of previous transactions to your wallet that are not spend. The sum of the UTXOs is your walley ballance.
- The transaction will not be validated by the nodes and won’t go through.
- The fee is the difference between the transaction inputs adn transaction outputs.
- Using multiple outputs for each transaction to multiple new addresses which belong to you.
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UTXO is the output of a transaction which the receiver can now spend. once he does it the UTXO becomes the ( or one of the ) inputs for a new transaction and it is not anymore Unspent.
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you combine two or more and the change goes back to you.
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it does’t really specify, but it implies. Input = Output + transaction fee the difference between in- and output is the transaction fee.
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use different adresses
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- UTXO are inputs from a previous transaction that have not been spent. It’s the available balance to spend.
- The wallet creates a transaction with enough UTXO to cover the transaction expense, the remaining balance will be sent to a wallet that you control
- The transaction fee is the input minus the output. The remaining balance is the transaction fee.
- The identity of the owners of each wallet address is unknown
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UTXO is a transaction that has yet to be confirmed by the blockchain
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it bunches up with other UTXO’s till there is enough to cover the transaction.
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input - output
4.by breaking up one transaction into a few little ones
- Describe what Unspent Transaction Outputs (UTXO) are.
Unspent Transaction Outputs (UTXO) are the amount of bitcoin that goes through on every transaction. It would be the amount that you have just received.
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
if I didn’t have any single UTXO that is large enough to cover a transaction, then I may need use another UTXO to cover or I will need to cancel that transation.
- How would a bitcoin wallet specify the transaction fee when creating a transaction?
Bitcoin wallets specify the transaction fee through notifying the person in control of the private keys either through a fixed or controlled amount or by the average fee of previous blocks.
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
One could increase privacy by using multiple addresses through within one transaction.
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A sum of unspent transaction outputs represent your balance available to spend / that your private key has access to.
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First your wallet would attempt to group UTXO’s of smaller size to cover the order if possible, if that is not possible, then tx will be invalidated.
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Inputs minus outputs + network efficiency calculation. Some wallets will calculate this automatically, and some with greater UX will allow you to choose or set your desired fee based on what is more important to your transaction, speed/saving.
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Increase the # of outputs to increase the complexity of deciphering inputs.
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- They are the amount of a transaction you get back minus the purchase cost and minus the transaction fee.
- The transaction would not go ahead as it would not be verified and therefore cancelled.
- The wallet would choose the correct fee based on the transaction, some wallets allow you to specify the fee yourself.
- Use multiple output addresses.
An utxo is just a batch of bitcoin that was send to addresses that your private keys can unlock to spend. So if you got 2 payments to 2 different addresses your private key can control, you will have 2 utxo’s of certain amount of BTC
- The fee is paid by the sender, not the receiver.
- If you don’t have a single utxo to cover a transaction, your Wallet will try to combine multiple smaller utxo’s together
- UTXO: are input transactions that still not spent.
- Use more than one input transaction and if they more than the amount need, you can send back the change to your wallet.
- Bitcoin wallet will deduct the fees from the amount you are sending where always (input = output + fees)
- Don’t the address again after the transaction is spent or use more than one address
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- The transaction amounts coming into your wallet that have not yet been spent by being used as inputs in transactions.
- UTXOs would be combined until their total amount is greater than the amount you want to spend.
- The transaction fee is not specified. It’s just the balance of the transaction inputs minus the transaction outputs.
- Generate a new address for each transaction.
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- UTXO’s are inputs you have received, but not spent.
- You would use multiple UTXO’s.
- It will chose a fee for you that will get your transaction in the block fast enough.
- You can use multiple inputs and outputs in a single transaction. So you can send all of it to yourself in different addresses but there is no way to tell who owns the address.
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Describe what Unspent Transaction Outputs (UTXO) are.
a) Unspent Transaction outputs are simply the output of a transaction, not yet spent -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
a) Transaction would be declined because the input and output needs to be the exact amount. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
a) your wallet chooses a fee based on the blockchain. That fee is the difference between your inputs outputs. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction? By creating many inputs and outputs, you don’t know whether the input is going to a different person or to the same person who generated the input etc
- UTXOs are outputs from transactions that can be used in a wallet to make further transactions.
- The wallet will tell you that you do not have enough UTXOs and the nodes on the Blockchain will ignore any attempts to make that transaction.
- It looks for the going miner fee and also looks for the lowest an highest fees based on how quickly the transaction needs to take place.
- You can send money to yourself in case you need to launder it. LOL.
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it is the amount of crypto left over after a transaction hppens that is returned back to you wallet
It would add up all of the crypto for that coin and use more thn one to make trasaction or not valid if there is not enough
automatically add it into the transaction bassed on the exchange
by using different exchanges and codes
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Unspent Transaction Outputs (UTXO) are transaction inputs that are not yet spent.
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You can combine single UTXOs. If that doesn’t work out, the transaction will not go through.
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Transaction fee is the input minus the output.
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You could increase privacy by dividing the transactions between different wallets.
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UTXO are transactions to you, that you have yet to spend.
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Your transaction would get denied, as you have insufficient funds.
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The transaction fee is going to be the total input subtracted by the total output.
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As everyone can see what is on the blockchain, you can increase privacy by having several receiving addresses. You can use multiple inputs and outputs, hereby transfer money to yourself on another address.