Bitcoin UTXOs Explained

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Bitcoin UTXOs Explained

Рет қаралды 14,380

Күн бұрын

Mitch Askew explains what Bitcoin UTXOs are and why it's important to properly manage them.
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Check out ‪@wickedsmartbitcoin‬ 's UTXO consolidation tutorial:
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Пікірлер: 54

@BlockwareSolutions 9 ай бұрын

🔥For weekly insights on Macro, Bitcoin, and Bitcoin Mining, subscribe to our FREE newsletter👇🏻 newsletter.blockwareintelligence.com

@Hobozakki 9 ай бұрын

This was the best version of understanding utxo’s ive seen 👌🏼👌🏼👌🏼 10/10 top information video on utxo this is… thanks

@ggevorgyan99 Ай бұрын

Finally someone who explains it well.

@jacquesdutoitpvt 9 ай бұрын

Excellent video - thank you. I learned a lot today that wasn’t covered in some of the best content or courses out there. 💪🏼😎

@MrCaLFreddyG 9 ай бұрын

Really needed this, fantastic breakdown. Thank you.

@frederickfrost6561 7 ай бұрын

Fantastic video; the more I learn about bitcoin, the deeper the rabbit hole becomes.

@upup209 8 ай бұрын

You’re doing great work. Appreciate your sharing your knowledge. Thank you

@Shemdoupe 13 күн бұрын

Extremely valuable

@ben9932 2 ай бұрын

Thanks for this amazingly clear and simple explanation. Take my like and sub 💯

@ikust007 9 ай бұрын

Really excellent. Didn’t catch it all. Must watch again

@gusgalvanini 9 ай бұрын

Thanks for this vid, I still don't understand UTXOs 😂 I shall watch it multiple times, along with other tools & educational material.

@THOMPSON8787 4 ай бұрын

UTXO is a fancy name for a balance of Bitcoin in a wallet address. That's it

@Mike-ul7of 6 ай бұрын

so all i have to do is send/store in a cold wallet to consolidate?

@standardguru8 3 ай бұрын

thanks for the great explanation! I had no idea!

@hasanrudd9823 6 ай бұрын

Great video. Clean and to the point.

@utubeit101 9 ай бұрын

Excellent video, thanks

@AC-vp4ss 5 ай бұрын

Hi there! Watching the video right now and in 6:32 you mention that Bob should consolidate the different UTXO's into "separate stashes". What do you mean by "separate stashes"? I'm assuming separate cold storage wallets? Thanks for the clarity. Also, I enjoy the visual breakdowns. I'm still learning and it's a bit overwhelming and this vid is helpful. Thanks again.

@sethbracken 7 ай бұрын

Great video. Nice Charlie Brown Christmas Tree.

@Saintel 6 ай бұрын

This was so helpful! Thank you

@cryptocalc6884 9 ай бұрын

Great video. But, how can I actually consolidate different types of utxos (income, DCA...) Into separate stashes?

@utubeit101 9 ай бұрын

I think you create another wallet and transfer all BTC from your wallet with many utxos into the new one.

@icedcoffee8561 9 ай бұрын

How do I make number go up!?

@dat9553 9 ай бұрын

@@icedcoffee8561work my friend, work.

@Rogue_Money 9 ай бұрын

You simply send the UTXO’s to another address in the same wallet they came from.

@THOMPSON8787 4 ай бұрын

@Rogue_Money let's say you have an xpub with 10 addresses and you send it to a new address in the same xpub...does it charge a transaction fee from all 10 addresses? Or just 1 fee?

@truestory923 7 ай бұрын

Been looking for this explanation for a long time. It's like all the other explanations skipped that part about the system needing to take UTXOs from a larger "bill". I thought they could just take the 27... And if you don't understand this, you're constantly confused about the Fricking numbers on your transfer. Thank you!!! A little fast though, just saying

@markviglas 6 ай бұрын

Super helpful thank you 🙏

@mynameistim3701 6 ай бұрын

so if im going to sent all my btc to my cold store wallet adresse does that mean, there are fewer utxo?

@Solo6R 8 ай бұрын

How can you see your accumulated UTXO's? I use a Tangem 2.0 wallet if that makes a difference.

@danfilk 8 ай бұрын

Damn this was a great video. Thanks!

@dennisherrera2815 9 ай бұрын

This was great! To make sure im clear, if I have a DCA wallet that I have been using for a year, its best to move that all in one transaction to another wallet to consolidate the UTXO into 1? Thanks

@theJoshLJ 9 ай бұрын

Yes

@dat9553 9 ай бұрын

You don't need another wallet, just send all your UTXOs to one UTXO that you have

@ikust007 9 ай бұрын

@@dat9553not sure how … shouldn’t we send them to samouraï or wasabi before ?

@Rogue_Money 9 ай бұрын

Send all the UTXO’s to a new address in the same wallet.

@dennisherrera2815 9 ай бұрын

Thanks! @@Rogue_Money

@lookatthetrees7494 6 ай бұрын

So, we do not use Ethereum for transaction fees any more? I need to watch this again.

@franknovak5260 9 ай бұрын

6:42 0.01 is 1M SAT, not 100k. Overall good video 👍

@rpires82 8 ай бұрын

Each new UTXO will necessarily be stored in a new address?

@gh4534 2 ай бұрын

If one has three UTXOs on an exchange and one moves this to a cold storage, does the transfer cause the three UTXO become one UTXO that is related to the wallet address?

@MichelAlbino 2 ай бұрын

Yes

@mooktakim 7 ай бұрын

Everything on the chain is public. The privacy point doesn't make sense to me. At 3:00, does Joe now have 27 BTC? or does he also have a -2.94 BTC as a UTXO also?

@JeDxDeVu 4 ай бұрын

Absolutely no clue what’s going. If Btc wants mass adoptions this shit needs to get simplified. Can’t expect average people to figure this shit out.

@bradvincent2586 4 ай бұрын

True. Basically… as btc fees go up, you could potentially have a 6 cent fee or a 1 cent fee. It really shouldn’t matter. Either the fees end up being reasonable for everybody or they won’t be.

@greythorne 2 ай бұрын

😂 that’s exactly what I am thinking. If BTC wants mass adoption then this UTXOs shit needs to be simplified.

@jessedunn1888 6 ай бұрын

Very helpful

@Reeseboy30 9 ай бұрын

Great info! 👊🏼

@riccardosava13 6 ай бұрын

If I buy a new hardware wallet and send all of my BTC onto it from my previous hardware wallet, Would I still inherit those UTXO's or would I have one single UTXO from that transaction?

@Ed17151 3 ай бұрын

It depends how you transfer those UTXOs to your new wallet. If you select all of them and do that into a single transaction then you will have a single (large) UTXO. In general, multiple UTXOs in a single transaction will consolidate. If you don't want that then send them in a separate transactions.