Oddbean new post about login | logout Mempool fees are low rn. Utxo management is important. Get on it. Don’t be that person Tell em @ODELL
How do I consolidate my UTXO’s?
@utxo the webmaster 🧑💻 how he consolidates you?
If you Google that there are many YouTube videos Basically select all your small utxo’s and send them to a fresh address in your wallet. Mempool transaction fees are higher if transactions contain many utxo’s. The fee is proportional to amount of utxo’s not the value of the transaction.
Perfect moment to drain one of the hot wallets @Foundation https://m.primal.net/HMTp.jpg https://m.primal.net/HMTp.jpg
https://www.discreetlog.com/utxos/
I know this is super subjective @ODELL but let's say I'm leaning more to the side of privacy. What utxo size do you think to target if I'm not planing on spending these sats until $1mil per BTC?
As big as you can. You can always buy smaller UTXOs in the future, but you might not be able to buy large ones and consolidating when fees are high won’t be fun.
Still need to be mindful of having just one large one. Reason is when you spend the size of your stack will be revealed. Spending a whole coin utxo today to buy a T-shirt for 50 bucks creates a change ouput of 27,000 dollars worth of sats for example. Me personally I think it’s good to have a few smaller ones depending on your spending habits of course. It’s very subjective and I realize everyone’s situation will be different.
Yep. My response assumed one would continue to stack on a consistent basis for years to come. For people looking to get in now and do a one time allocation then having a single utxo is not ideal for the reasons you mentioned.
Unchained has an article that should help you. I found the first table under fee protection goes beyond dust section very usfull to decide on the UTXO size. Hope this help. https://unchained.com/blog/small-utxo-bitcoin-dust/
To prioritize privacy, UTXO should be just larger than expected spend. The worst thing for your privacy is to pay a 1mil sat invoice with a 100BTC UTXO and expose your wealth. Have some UTXOs at approx: -500k sats -1mil sats -5mil sats -10mil sats -50mil sats -etc Keep in mind CoinJoin sizing too
