Homework on Bitcoin Transactions and UTXO - Questions

[Fabrice]

@TommyAces

Transaction would be declined/denied

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@3duardo

2.-Transaction will be cancelled

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@JovanaGG

All transactions are made up of inputs and outputs. If you receive a transaction (input) and don’t spend it, there is no output yet. this is the UTXO.

An utxo is an unspent transaction output (not input) it’s a batch of bitcoins that is not yet spend. If the utxo is locked on your adresses, you can spend it by using this utxo in the input of a transaction, and change ownership in the output.

[Fabrice]

@bigez

Your transaction will not go through and won’t be added to the blockchain

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@massam78

The transaction would be declined if your UTXO is not large enough to cover it.

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@lucavi76

your transaction won’t be allowed (i.e you don’t have enough money available)

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@alex.stahmer

The transaction would be rejected

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@permabull

Your transaction would not be valid. It would not occur because you do not have the correct balance needed. (inputs = outputs + tx fee)

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@anitan

transaction privacy is secured by private key signature which wallet performs

Here we mean that you can use more addresses in the outputs, wich makes it hard to know if you are paying yourself or someone else. Only your private keys know wich addresses are yours.

[Fabrice]

@blue

your transaction will be ignored

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@yestome

My transaction will be ignored / dropped

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@strenev

It will construct an input which is the sum of all your UTXOs

Each smaller utxo will be 1 different input.

[Fabrice]

@jgentry

If you don’t have any single UTXOs that are large enough to cover for your transaction, you would be unable to make the transaction that you want to make.

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@Jesus

No transactions can occur if you don’t have any single UTXO.

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@AliasFresh

2. What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?

It will not be validated.

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[Fabrice]

@AR.18

The transaction would be rejected

You can always combine smaller utxo’s together in your inputs to cover for the amount. Only if the sum of all your available utxo’s aren’t enough to cover for your transaction, the transaction will fail.

[JovanaGG]

I see what you are saying, but I didn’t mean that the UTXO is an input so let me maybe rather clarify my question so I know if I’m on the right page — If someone sends you the transaction, for them that is the output.
For you it’s the input at that stage?
It’s only a UTXO for you once you have an input from someone else and didn’t spend it yet?
(Because you can’t have a UTXO if you never received any inputs. i.e. If I just set up a new wallet and I don’t have inputs I can’t have any UTXOs)

That’s what I was trying to say, but let me know if I missed something.

[massam78]

Thank you for the clarification

[GoHackYourself9]

1 UTXO’s are outputs ready to become inputs for a new transaction recognized by a private key
2 transaction doesn’t construct ?
3 does it ?
4 create other wallets

[HexagonalView]

Thank you for the intervention. When responding I was thinking that the sum of all UTXO is not large enough to cover for the transaction. Therefore the transaction would be declined. Re-reading the question and your answer, I realise I was not attentive enough.