- UTXO basically is the leftover amount of digital currency from the previous transaction that can be spent for further transactions.
- If we have only one UTXO that smaller than the amount of further transaction we expected, it would going through (invalid). But if we have multiple UTXOs which are each of them smaller than the amount we expected to spend then the wallet would calculate the balance. If the balance is greater than the output plus transaction fees, it would be valid. Otherwise, it would be invalid.
- It is be calculated from some previous transaction fee histories. For some wallets, it automatically decides which transaction fees that would be rationally applicable for our transaction, or in some other wallets we should choose several option for the transaction fees.
- By using different addresses for each transaction.
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- UTXO are the total transactions received (input) which is available to be spent
- The transaction will be rejected and invalid
- Fee = Input - output
- The address is encrypted and different even though it may be the same sender and receiver.
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First your wallet will calculate the sum of your total unspent transactions to equal the amount needed, if not enough the transaction is not allowed to take place.
#1 UTXO’s are outputs that have not been spent.
#2 Transaction would not go through.
#3 Byte size and the difference between the input and output.
#4 use multiple address or send them back to me.
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It is an output from a transaction that is in a user’s wallet.
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Multiple UTXO would be used.
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Inputs = Outputs + TX fee
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By using an array of different bitcoin addresses.
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Thanks for the clarification, I missread the question and thought there was only one not sufficient input transaction, but the questions indeed allows for many input transaction which is why if the sum is higher than the outputs transaction and transaction fees are sufficient it would be fine.
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. 
1. Describe what Unspent Transaction Outputs (UTXO) are.
It is the amount of digital currency remaining after executing a transaction.
2. What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
If another UTXO is available it will be used, otherwise, the transaction will be denied.
3. How would a bitcoin wallet specify the transaction fee when creating a transaction?
As transaction fees are dynamic, the wallet will calculate fees based on network conditions and transaction size.
4. How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
By using outputs from one transaction as inputs for other transactions can increase privacy.
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- This is the balance in your wallet.
- Declined transaction.
- The wallet takes the inputs minus the outputs and fee.
- Use of multiple addresses.
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The collective sum of UTXOs represent the total balance of available funds in ones bitcoin wallet.
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The wallet will sum up all necessary UTXOs to construct needed funds for said transaction. With that being said, if you don’t collectively own the needed UTXOs to process the requested transaction, the transaction will be denied.
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The wallet will review recent fees on the blockchain and will provide a suggested cost. One can manually change the cost to increase transaction speed by paying more, or select a cheaper cost that can potentially decrease transaction speed.
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Addresses are not associated to ones identity, therefore a public outsider cannot know who received an output.
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Describe what Unspent Transaction Outputs (UTXO) are: what has been sent to your wallet (previous transactions received)
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction? You can’t make the transaction, you don’t have enough funds, so the transaction would be rejected by the nodes.
How would a bitcoin wallet specify the transaction fee when creating a transaction? By looking at the blockchain and figuring out what fee is needed to get the transaction confirmed relatively quickly
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction? If a person has many different wallets, they could send funds to wallets that they control themselves, but no one would know. So effectively, all the funds could be send to oneself by using different wallets.
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You can use multiple UTXOs as inputs to a new tx. If you still don’t have enough then your tx would be declined.
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the transaction you received and you didn’t spend yet.
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you won’t be able to exsicute the ( you will have to you more than one utxo to cover the transaction) like having two 100 bills and you have to pay 150 you will have to spend 200:and get the change 50)
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it will look into previous transactions fees and decide best suitable amount to get it done fast enough
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i don’t really know (Yet)
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Privacy can be increased by using different addresses in the output of a transaction being different from the address of the inputs. This way someone looking at the transaction cannot tell how much was spent by the origin address.
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- Describe what Unspent Transaction Outputs (UTXO) are.
UTXOs are unspent outputs from a previous transaction. If i was to receive BTC from a friend, his spent transaction would be my unspent transaction output (UTXO)
2.What would happen if you don´t have any single UTXO that is large enough to cover for your transaction?
You wouldnt be able to make the transaction because you would have insufficient funds, in this case UTXOs.
3.How would a bitcoin wallet specify the transaction fee when creating a transaction?
A transaction fee is calculated by : INPUT = OUTPUT + TRANSACTION FEE.
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
You can use different wallets (addresses) that you control to distribute and control your funds. You could transfer some of your UTXO´s on wallet 1 to wallet 2 (they both belong to you).
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The UTXO’s are unspent transactions outputs of the blokchain transaction, and are waiting to be used on future transactions.
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More than one UTXO’s can be used to fulfill the requirements of the transaction.
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A Fee is the difference between inputs and outputs of the transaction.
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To increase privacy you can use several inputs and outputs. Output to the addsesses you control.
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1. Describe what Unspent Transaction Outputs (UTXO) are.
UTXO are the number of bitcoins you have received but not yet spent.
2. What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The transaction will not be valid and will therefore be rejected.
3. How would a bitcoin wallet specify the transaction fee when creating a transaction?
The transaction fee is calculated as follows: Fee = Input – Output.
4. How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
By sending my funds in multiple transactions to addresses that I control.
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Your wallet will calculate the sum of your total unspent transactions to equal the amount needed, if not enough the transaction is not allowed to take place.
- Describe what Unspent Transaction Outputs (UTXO) are.
When someone sends you btc you receive it in your wallet as an UTXO
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
You would use more than 1 UTXO and receive change back.
- How would a bitcoin wallet specify the transaction fee when creating a transaction?
The transaction fee is added to the output of the transaction and is listed as a separate line item.
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
You can use multiple inputs with various addresses
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Thank you for explaining
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