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They are basically your balance in your wallet, they are waiting for you to spend, which then become UTXO’s for the receiver, who can spend them.
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You have to take more UTXO’s into the transaction, until the sum reaches the amount to cover. If you have not enough funds, your transaction would be declined.
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Simplyfied, the fee is UTXO input minus UTXO output. But the wallet takes the fees out of the blockchain, you can either decide or the wallet will simply choose the best fee.
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If you use more adresses for your UTXO’s inputs, it may increase your privacy.
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Describe what Unspent Transaction Outputs (UTXO) are.
Unspend funds that bitcoin wallet has. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
Create transaction that has UTXOs that have enough value to cover your transaction and send the rest of the funds to yourself. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
Inputs - Output = Fees -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Use different addresses and outputs can be addresses that you own.
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- all Bitcoins in Wallet at the moment
- Transaction would be declined
- Input - Output = transaction fee
- by generating new adresses
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UTXO: The amount of bitcoin that is not sent to any other wallet address but is instead returned to the original address is recorded as a UTXO.
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If an individual UTXO value is insufficient to cover a transaction the required amount would be summed up from all available UTXOs tied to the wallet. Any excess would return as a UTXO.
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The transaction fee is based on the satoshi per byte rate set by the mining pools. The wallet queries the current transaction traffic and suggests a higher or lower amount.
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In theory you could use multiple addresses to obfuscate the value held by an individual with some of these addresses being ‘burner’ wallets.
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- UTXOs are outputs from previous transactions that not yet have been spent.
- Than the transaction will be denied.
- The Bitcoin wallet itself will calculate which fee is needed to get te transaction on the blockchain.
- By using multiple addreses as outputs.
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- UTXO’s The previous transactions inputs witch now you can spend or send.
- The transaction will not be validated.
the wallet will calculate all the UTXOs from the blockchain and if your adding sum of unspent transactions outputs will not cover, the transaction will not pass through. - You can extract the transaction fee by calculating the total inputs minus total output.
Your wallet will calculate your UTXO’s to se if you have enough funds. - The addresses and the transactions are public for everyone to see, you can send to multiple addresses in one transaction to add a layer of protection and lose your track this way.
The blockchain doesn’t require names for the addresses so all the transactions seem anonymous.
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You can use multiple UTXOs as inputs to a new tx. If that isn’t not enough to cover your transaction then your transaction would be refused.
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1.UTXO are basically the spendable money left in your wallet
2. Your transaction would be declined
3. A bitcoin wallet after scanning the market proposes a fee that would be enough to get your transaction mined in a reasonable time.
4. Always generate new output addresses so that is more difficult to track the transactions
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Describe what Unspent Transaction Outputs (UTXO) are.
Is the balance of the unspent transaction. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
Transaction will not be accepted. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
Fees are not specified, but implied. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Addresses don’t hold any personal information therefore not connected with one another. The transaction picks a block and sees all the transaction, hard to tell who sent it and impossible to tell.
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Incoming transactions that are not spent and can be used for outgivna transactions
The transaction would not be accepted by the blockchain
Outcoming tx - utxo
Send the tx to another adress,/pk I control
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- UTXOs are essentially the balance of our wallet, the sum of all of the unspent transactions
- Your transaction will not be confirmed
- The transaction fee would be determined by leaving some UTXO unallocated in the outputs.
- You could have additional addresses that you control and try to obfuscate transactions by creating additional transaction to addresses that you control, while also ensuring that addresses are used only once.
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You can use multiple UTXOs as inputs to a new tx. If that isn’t enough to cover your transaction then your transaction would be refused.
Thank you All for your feedback! I appreciate it:)
- Your balance.
- The transaction would not confirm.
- The wallet calculate the Blockchain input and output and figures out the correct fee.
- Create new address for the input and output.
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- Unspent Transaction Output is the construction of a BTC transaction.
- You have to use more than 1 UTXO.
- It would be the difference between the input and the output.
- A block consists of many transactions and it’s hard to decipher whose is whose.
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Describe what Unspent Transaction Outputs (UTXO) are.
UTOX is an output that we received and hasn’t been spent yet. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The transaction is going to fail and you still end up paying the network fee. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
Input minus output equals the transaction fee. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
You can use multiple addresses for transactions to increase your privacy.
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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 not be confirmed. 
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Unspent transactions is money that has been sent to me (a bitcoin address) but that has not been used as an input in another transaction by me.
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Multiple UTXOs would be combined to cover the transaction and the remainder would become a UTXO back to me.
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By looking at recent transactions completed over the blockchain and suggesting a fee that would provide a reasonable confirmation time. The transaction fee would be recorded as the difference between the input and the output.
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Since it is impossible to tell what portion of a transaction is the spent portion and what is returned to the user, or if portions of the transaction are sent to a different address that is the same user, a certain level of anonymity is built into the system as concerned to the origin of a UTXO.
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UTXOs are the unspent transactions or digital money that was received and not sent out anywhere yet
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If a single UTXO is not large enough to cover a transaction, you would use another to compensate or cover the transaction or else there will be no transaction
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Transaction fees are determined by what is left over or the remainder of the output
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There is no telling which outputs correspond to any given input
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- Describe what Unspent Transaction Outputs (UTXO) are.
It is the Unspent bitcoin that send to you which you can spend - What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The wallet will combine other UTXO and make sure is enough to cover the spend transaction. - How would a bitcoin wallet specify the transaction fee when creating a transaction?
The wallet will read the blockchain on the most recent fees and use it when creating a new transaction. - How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Address don’t record any personal information and you can create multiple address.
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