- Utxos are transaction available to the holders of a private key to spend by signing it. To make it simple it’s your Btc balance.
- Multiple utoxs will be combine in a transaction to cover the transaction + fees
- Fee = Utxo - Output
- You could use it by always sending the remain output to a new address
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A UTXO is the amount recieved to your wallet that you are now able to spend.
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If you don’t have a single UTXO large enough to cover the fee the wallet will add up other UTXOs in order to cover the fee.
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Input minus output. The bitcoin wallet will look at previous transactions on the blockchain and judge based on previous fees in order to choose an appropriate fee for a faster transaction by the miners.
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You could send a transaction to multiple wallets. Some may be in your control as well. No one knows.
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Describe what Unspent Transaction Outputs (UTXO) are.
Unspent transaction outputs, are records of transactions from a wallet, that are kept on the blockchain to sum up how many transactions Have been/Can be validated. -
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
if you dont have a single UTXO to cover for your transaction the transaction is invalid. -
How would a bitcoin wallet specify the transaction fee when creating a transaction?
a bitcoin wallet specifies transaction fees by whats left from inputs and outputs of the transaction. -
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Using different addresses for transaction inputs and outputs could increase privacy a little.
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UTXOs are the amount of the transaction that were not sent to another wallet. The sum of the UTXOs is your wallet balance.
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If you don’t have any single UTXO that is large enough to cover your transaction, then your transaction is not valid.
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The transaction fee would be the sum of the inputs, minus the spent transactions and UTXO.
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You can use the notion of transaction inputs and outputs to increase privacy in your transactions by sending transactions to other addresses you control. Additionally, it is unknown which transaction is the spent transaction and which is the UTXO, further adding to your privacy.
UTXO is the sum balance in your wallet that is available to be spent
Wallet sums all UTXOs and if enough the tx will be executed
Inputs - Outputs = Tx Fee
By using many inputs and outputs as well as sending to different wallets that you hold the priv key for
1 UTXO are bitcoins received and stored in a wallet, waiting to be send to another user (or oneself) by means of a TransXaction.
2. your wallet will sum more UTXO´s until the amount is covered and than send back the “change” or what is left back to it´s own wallet.
3. Total input minus total output is transXtion fee
4. Because the UTXO don´t give/show specific data about the amount send and to who (?)
- UTXO’s are any unspent inputs thats are received (essentially your balance to spend)
- Multiple UTXO’s will be used, you are able to send the balance back to yourself, minus the tx fee.
- Remainder of input after output is taken. Some wallets allow you do adjust the fee.
- Whilst it is possible to view all tx’s on the blockchain, it can be almost impossible to track who the transactions are going from / to.
- Unspent Transaction Output; its the difference between the received and sent value in a wallet.
- It would not be validated by the nodes. not confirmed nor the value amount sent to the receiving address.
- Inputs = Outputs + Tx Fees, it’s not explicit but implicit. And it’s calculated/charged by the size of the transaction in bit usage and not in value amount transferred.
- You cannot know the address holder identity, you can create as many addresses as you wish, and you can even send to yourself in another address.
- Describe what Unspent Transaction Outputs (UTXO) are. Unspent Transaction Outputs are what the wallet controls with its private keys. These are used to construct new transactions.
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction? A combination of UTXOs whose sum is greater than the output plus the transaction fee will be used and the remainder will be sent back to the original wallet as a UTXO.
- How would a bitcoin wallet specify the transaction fee when creating a transaction? The wallet checks the history of transaction fees, then calculates and proposes a fee that will result in a relatively fast confirmation time.
- How could you use the notion of transaction inputs and outputs to increase privacy in your transaction? As long as the wallet owner remains anonymous many addresses can be used to mask which UTXOs have really been spent and which ones are still controlled by the same owner increasing privacy.
Hello,
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UTXO are transactions that have brought bitcoin to your wallet, but you haven’t made use of. Your cellphone creates query constantly asking a node how much btc does your unspent UTXO allot to. In other words, your sum of the incoming UTXO is the balance you have available.
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The nodes would see you cannot make the transaction and refuse it.
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The wallet checks the former transactions on the blockchain, and infers what would be the correct fee in order to process your transaction reasonably fast.
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First and foremost you could run your own node. Secondly, you could use a wallet one time only, paying what is due and moving any residual BTC to a new wallet you made. Also, you could fragment the payment due to different addresses.
Best
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Unspent UTXOs are the sum of all your inputs.
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The transaction would fail to go through.
3.The fee is the difference between the inputs and the outputs.
- Use different addresses for receiving BTC.
1. Describe what Unspent Transaction Outputs (UTXO) are
UTXO stands for the unspent output from bitcoin transactions. Each bitcoin transaction begins with coins used to balance the ledger. UTXOs are processed continuously and are responsible for beginning and ending each transaction. Confirmation of transaction results in the removal of spent coins from the UTXO database. But a record of the spent coins still exists on the ledger.
- What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The wallet will use multiple UTXOs that have a combined value that is EQUAL-TO-OR-GREATER-THAN the transaction amount plus the fee.
3. How would a bitcoin wallet specify the transaction fee when creating a transaction?
Bitcoin wallets examine the blockchain’s activity level and automatically provide you with a recommended fee that is perfectly serviceable the majority of the time
4. How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Use More than One Wallet
Having multiple wallets can be compared to having several identities. There is software that Bitcoin owners can use to control several wallets from the same interface.
1- They are inputs in your wallet that can be used as an output, to create a transaction and send money whoever.
2- You won’t be allowed to make the transaction.
3- The fee is the difference between the input (UTXO) and the output. You can specify it by yoursef or let the wallet generate it automatically for you. The miners are who receive that fee. Higher fee, higher confimation speed. There is no a fixed fee.
4- A transaction always will be anonymous. There no need of special use, or strategies.
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A UTXO is an unspent transaction into your wallet. The total of all UTXO’s is your balance. A UTXO will become an input once you spend it.
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Your wallet will combine multiple UTXO’s in order to get a large enough amount (assuming you have enough of a balance to cover the transaction).
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It automatically calculates a fair fee based on current fees on the blockchain. The fee is the input minus the output.
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Have many addresses for yourself and send transactions to other wallets you own.
- UTXOs are unspent transactions the address has received, they will be used towards outputs which will then turn them into inputs.
- It will pull from other UTXOs to equal the amount necessary including the fee and send the rest back to you assuming you created the transactions properly.
- Most of them will calculate the fee based on previous transactions to make sure it is enough to get the transaction added to the blockchain. The fee will be added to the output amount you specify to equal the inputs. You can increase the fee if necessary to have it added to a block and mined quicker.
- Use change addresses and always use the full amount available and have the remaining amount sent back to a different address.
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Those are previously recieved transactions, which are basically your available “balance”.
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Wallet will combine enough UTXOs to cover tranaction + fees.
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Wallet will propose appropriate fee based on current activity on newtwork.
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By having multiple wallets.
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Unspent Transaction Outputs (UTXO) are outputs on the blockchain that have not been spent yet, and so have not been used yet as inputs in a new transaction.
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The wallet would add several UTXOs to cover for my transaction, and send the change back to me if needed (another output to my address).
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It would calculate the appropriate fee for the transaction and integrate this amount in the transaction, so that the sum of inputs would equal the sum of outputs. Not sure of my answer, I would appreciate if someone can explain it more accurately. --> Is the fee going as an output to the miner, or to a place where it will be picked up by the miner?
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If a transaction has for example two outputs, let’s say 0.8 BTC and 0.2 BTC, an outsider would not know if 0.8 BTC has been spent, and 0.2 BTC is the change, or vice versa. As I understand, it could be as well two payments to two different people, or to one person with two addresses.
- UTXOs are outputs of transactions towards me that I have not spent yet. Basically the name.
- I think the wallet checks if the sum of UTXOs is larger then the amount I want to spend and initiates the transaction based on that.
- The fee is input - output sure but the fee must be determined somehow, which was not explained in the vid. Is it determined by who mines the block, is it influenced by wallet or exchange?
- You don’t know which output addresses are controlled by sender and which are not.
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utxos are outputs of a transaction that get added to a wallets balance
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if there is enough for the transaction the utxos will be spent all together in a transaction creating outputs for the payment and change plus transaction fees.
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the inputs - outputs = fees
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you can spread your utxos across addresses to hide the total value you have by it being hard to link addresses to people.
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UTXOs are transactions that are previous inputs to the wallet but they are unspent. UTXOs are tracked by your wallet.
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Your wallet will construct the desired transaction by aggregating the UTXOs, thus providing a balance.
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The wallet will view the previous transaction fees to determine an acceptable fee for transaction acceptance within a reasonable timeframe.
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Multiple transactions can be sent to different addresses. The ownership of the bitcoin addresses is not necessarily known.