You can use multiple UTXOs as inputs to a new tx. If you still don’t have enough then your tx would not be able to make the tx. 
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- total balance of the wallet
- no transaction
- the wallet will show a transaction fee prior the transaction or use the fixed fee from previous transfers
- using many inputs and outputs
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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.
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Utxo is the available funds
Transaction would be refused by the blockchain
It automatically recommends a fee for a decent speed of treatment to incentivize miners
Always use different wallets
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Describe what Unspent Transaction Outputs (UTXO) are
They are an accumulation of unspent funds available to you in your wallet. Which in return shows a total value of those unspent transactions.
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
Your wallet would take into account for the available UTXOs that are present meaning the total and if the total was not enough for the transaction the transaction is never broadcasted to the network for lack of funds.
How would a bitcoin wallet specify the transaction fee when creating a transaction?
By subtracting the input total from the output total.
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Because you can be sending funds to someone else as well as yourself in the same transaction which can make it difficult to track a specific UTXO in a blockchain explorer. The more inputs and outputs the more difficult to trace.
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yeap, you are right. was lazy to finish that - no transaction will happen)))
appreciate you for more precise definition
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- Describe what Unspent Transaction Outputs (UTXO) are.
Wallet Balance - What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
No Transaction, therefore the transaction amount would have to be reduced. - How would a bitcoin wallet specify the transaction fee when creating a transaction?
Its a % calculation fee made by the software within the wallet based off its current blockchain analysis and the amount the is being used in the transaction. Commonly known as a Charge. - How could you use the notion of transaction inputs and outputs to increase privacy in your transaction? No, its not a privacy instrument, its a service charge based on the energy required to make a transaction in the specific token.
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Describe what Unspent Transaction Outputs (UTXO) are.
An unspent transaction output. The amount of digital currency someone has left remaining after executing a cryptocurrency 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 valid. Your wallet will automatically determine if you have the funds to cover the transaction. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
Input - output = the fee. Your wallet will do this automatically. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
By using a number of different receiving wallets. All outputs are encrypted with your private key.
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- It is the remaining amount of cryptos after a transaction is executed.
- The transaction doesn’t occur.
- It substracts the outputs from the inputs in order to determine a fee.
- In this case, the use of new addresses for every transaction can increase privacy to a degree.
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1.) UTXOs are like the money/coins you can spend with your wallet. UTXOs are the Output of transactions to your private key. They got the information which wallets send the money to your wallet. Your wallet can read the UTXOs related to your private-key on the blockchain, summarize them and show you the balance you can spend.
2.) They summarize all your UTXOs and send it out together. When you got two UTXO of 0.5 BTC and the transaction to Person A is 0.7 BTC , it will send out both also 1 BTC, 0.7 goes to A, 0.3 goes back to you ( subtract the fees).
3.) It can read how much the fees of the previous transactions on the blockchain where and send that information to you. But you can decide how fast the transaction will be confirmed, if you want it faster you can set up more bytes, but there are also more fees than.
4.) You can use a different adress for every transaction.
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Describe UTXOs
UTXOs are an output of a blockchain transaction that has not been spent and can be used as a new transaction as an input in cryptocurrencies electronic money. Each UTXO of a coin is of a certain amount of value of that coin. -
What to do if you do not have any single UTXO that can cover a transaction?
It is possible to collect smaller percentages of that same coin from different sources until the percentages of that coin add up to enough to cover the transaction, plus the transaction fee. Once the different percentages add enough UTXO to cover the purchase / transaction, the output can be made to cover the input of the transaction being made. -
How would bitcoin wallet specify the transaction fee for a transaction?
Bitcoin wallets sign a transaction which requires other multi-party signatures to increased security for UTXO to complete a transaction using bitcoin. The wallet algorithms are programmed to be able to figure the appropriate fees of that transaction and added to the total sum of the output transferred to a new input and the wallet determines the amount of the fees for the transaction deemed appropriate. t. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Bitcoin is a transparent payment network with acceptable levels of privacy due to the role of wallets protecting users addresses. The running totals of the values of transactions are transparent while private keys and public keys working to secure transactions from wallets (UTXOs) to new inputs completing transactions maintain and protect user addresses.
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1- UTXO is an unspent transaction
2- Then no transaction due to insufficient funds.
3- the difference between the input an output determines the fee
4- Using a different address for transactions
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Describe what Unspent Transaction Outputs (UTXO) are. --> These are transactions where BTC has come into your account but have not yet been spent.
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction? --> A transaction can have more than 1 UTXO as the input, so it can group them up to cover for the trx.
How would a bitcoin wallet specify the transaction fee when creating a transaction? --> Looks at the blockchain to understand the current fees and suggests one that is good enough for getting to the blockchain.
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction? --> You can have the inputs coming from one address that you control and send the balance amount to another address that is under your control. This way, people looking at the trx in a block explorer would not be able to understand who is getting paid what.
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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 refused.
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- Unprocessed output from one or more addresses to abother address.
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- It would not run or
- Several UTXOs are combinated to carry out the transaction, the change, so to speak,
becomes a new UTXO for the sender.
- The fee is input minus output.
- Use several addresses to create UXTOs to spend.
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- UTXO is the balance that you have in your wallet that you receive from another wallet. As soon as you send your coins to another wallet it will become STXO cause you already send your coins.
- The transaction won’t go through if your UTXO is not large enough to make the TX.
- The difference between the inputs and the outputs. In most cases, the wallet checks the blockchain and figures out the fee for that specific TX.
- Creating new inputs and outputs addresses.
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- UTXO’s are outputs from previous transactions that haven’t be spend yet.
- Transaction won’t work because of there are not enough funds
- Input - output = fee
- Having multiple output adresses.
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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.
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1: UTXO’s are the output of a previous transaction that have not been spent. When they are spent, they become the input for the new transaction.
2: Multiple UTXO’s would be used as input for the transaction, whatever is left after sending the desired amount and covering the fee will be sent back to the sender.
3: The fee is not specified. The wallet recomends an amount based on recent fees that will get the transaction accepted on the blockchain quickly.
4: You can send to multiple addresses within one transaction. Someone can own multiple wallets and send different amounts of Bitcoin to each wallet so that anyone looking at the blockchain would not know that one address has a large amount of Bitcoin.
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Describe what Unspent Transaction Outputs (UTXO) are.
UTXOs are bitcoins in wallet that are yet to be spent. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
It will be denied. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
Input minus output equals transaction fee. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
By using different addresses.
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