Very useful information, it increased my understanding of how transactions work. Now if I can just integrate that with educating myself in how to utilize the mempool and sparrow wallet, I'll be a happy camper. Thank you.
I DCA and usually wait until I have a million satoshis or more on exchange before I send to a cold wallet. Start a new adress every few grand. If you do it this way you dont have to consolidate later on and its already done. I made the mistake when I started and had to consolidate my utxos on my cold wallet. I think he is right alot of people have no idea.
@@logann001Sparrow is cool but trezor is trash had one that straight went dead wouldn't even acknowledge my seed that it had originally generated. Ended up using a cold card.
@fromagperspective9428 Using trezor with sparrow is much better than Using trezor software, never had a problem since Using sparrow, also cold card is the best obviously and I use that with sparrow
I agree with this but this is 100% the responsability of clients developers. the fact that we still have to make videos like that is telling. it shall be dealt efficiently and simply by every wallets. the fact that it's still isn't the case is unacceptable.
or you could be smart and never ever spend it only lend it out using Ledn and use fiat...that is the better use..NEVER EVER Sell Your Bitcoin which translates to Never Spend it!!! 🙄
I think its important to balance the not your keys not your coins mantra with finding an exchange that has a long history and only withdrawing when you have a sufficient amount for a reasonably sized UTXO. Like you said, the worst thing you could do is DCA 50 bucks and withdraw each time you make a purchase. Risk management as with everything in life!
So when I add 50/week on NDAX are those all UTXOs? Then, when I get to $1000 CAD worth of BTC and send that to a cold wallet, did I just consolidate the smaller UTXOs into 1? How about going the other way. What if at the beginning I movedBTC to that wallet too frequently, I have 20 small UTXOs there. If I send it all back to Ndax does that consolidate it back to 1 UTXO?
For "normies" doing DCA with a reputable exchange, you can get in a good habit of sending to HWW in significant UTXOs and generating a new HWW receive address for every withdrawal. Then, during a low gas fee period, you can further consolidate your moderate UTXOs from exchange to a mega cold storage chunk by sending to a passphrase wallet like once a year. How does that sound?
I hope you continue to do more videos and interviews. I think you’re the best speaker regarding Bitcoin. The community needs to hear from you as much as possible. Thank you for your work.
Great explanation but newbies will still be wondering what does UTXO stand for, and why is it such an abstract naming! Engineers should be forbidden from naming UX stuff.
An important, underdiscussed topic. John Bush of Freedom Cells tells his audience he buys $8 of BTC every day at 11:00 AM as a DCA strategy. He's aware of UTXO management, so I find it baffling that he continues this strategy. He could at least change that to $56 one day a week, even though I still think that's still a bad strategy in light of UTXO management concerns.
You are so knowledgeable dude. I wish I could learn more from you. Like how to do a coin join. And how to run a node. Or if I should be running my own node. Thanks for your videos I really get a lot out of them.
Acceptable to spend a $10 fee on a $1000 transactiin. By that logic when most transactions are $1million a $1000 fee would be the norm. BTC = Freedom money for the 1%
![*Next-door 10x Software Engineer* [FULL]](http://i.ytimg.com/vi/kKAue9DiHc0/mqdefault.jpg)
important work by the legendary bitcoin mechanic
How have I only just discovered this channel after being in this space for a few year? Great stuff.
Very useful information, it increased my understanding of how transactions work. Now if I can just integrate that with educating myself in how to utilize the mempool and sparrow wallet, I'll be a happy camper. Thank you.
I'm pretty sure BTC sessions has a video on how to use Sparrow.
Crystal clear explanation ❤ great work as always
Incredible explanation ... dunno how I wasn't aware of this (maybe it's being a HODLR vs. active user lol?)
I DCA and usually wait until I have a million satoshis or more on exchange before I send to a cold wallet. Start a new adress every few grand. If you do it this way you dont have to consolidate later on and its already done. I made the mistake when I started and had to consolidate my utxos on my cold wallet. I think he is right alot of people have no idea.
amazingly clear way to explain UTXO management. What are safe tools one can use to do this? I hear sparrow is one. Are their others to consider?
Sparrow yes or a trezor
@@logann001 / ah trezor / researching coin control / thanks!
@@logann001Sparrow is cool but trezor is trash had one that straight went dead wouldn't even acknowledge my seed that it had originally generated. Ended up using a cold card.
@fromagperspective9428 Using trezor with sparrow is much better than Using trezor software, never had a problem since Using sparrow, also cold card is the best obviously and I use that with sparrow
@@fromagperspective9428 You got unlucky with your trezor, I've got 6 and had no problems
If you're DCA'ing, wait till your total gets to a certain amount before moving to your cold wallet. Problem partially solved!
I agree with this but this is 100% the responsability of clients developers. the fact that we still have to make videos like that is telling. it shall be dealt efficiently and simply by every wallets. the fact that it's still isn't the case is unacceptable.
Wow, that was fast lol
Thanks for the inspo!😉
Is this who I think this is? You on HodlHodl, man?
or you could be smart and never ever spend it only lend it out using Ledn and use fiat...that is the better use..NEVER EVER Sell Your Bitcoin which translates to Never Spend it!!! 🙄
Is there a way to generate yield with BTC perhaps by building or exchanging UTXOs (without providing a mixing service)
I think its important to balance the not your keys not your coins mantra with finding an exchange that has a long history and only withdrawing when you have a sufficient amount for a reasonably sized UTXO. Like you said, the worst thing you could do is DCA 50 bucks and withdraw each time you make a purchase. Risk management as with everything in life!
You are truly one of the GOATS!
Dropping pure signal and delivering value with every single video 🤝
So when I add 50/week on NDAX are those all UTXOs? Then, when I get to $1000 CAD worth of BTC and send that to a cold wallet, did I just consolidate the smaller UTXOs into 1? How about going the other way. What if at the beginning I movedBTC to that wallet too frequently, I have 20 small UTXOs there. If I send it all back to Ndax does that consolidate it back to 1 UTXO?
For "normies" doing DCA with a reputable exchange, you can get in a good habit of sending to HWW in significant UTXOs and generating a new HWW receive address for every withdrawal. Then, during a low gas fee period, you can further consolidate your moderate UTXOs from exchange to a mega cold storage chunk by sending to a passphrase wallet like once a year. How does that sound?
Thanks for the simple explanation. I never got this before now. I know what I'm doing this weekend
Bro the way you teach hits different 🫶🏼
I hope you continue to do more videos and interviews. I think you’re the best speaker regarding Bitcoin. The community needs to hear from you as much as possible. Thank you for your work.
Excellent information, thankyou for spreading this unappreciated aspect of our Bitcoin system.
Wilson Kimberly Gonzalez Kevin Robinson Melissa
Valuable information
Great explanation but newbies will still be wondering what does UTXO stand for, and why is it such an abstract naming! Engineers should be forbidden from naming UX stuff.
Kind of a 180 for him but Tom Green looks good.
Thanks for this.
An important, underdiscussed topic. John Bush of Freedom Cells tells his audience he buys $8 of BTC every day at 11:00 AM as a DCA strategy. He's aware of UTXO management, so I find it baffling that he continues this strategy. He could at least change that to $56 one day a week, even though I still think that's still a bad strategy in light of UTXO management concerns.
You are so knowledgeable dude. I wish I could learn more from you. Like how to do a coin join. And how to run a node. Or if I should be running my own node. Thanks for your videos I really get a lot out of them.
What's the smallest UTXO you think someone should have in a wallet, given the future of transaction fees for the next 5 years?
good question...i hope tech keeps improving so we can get all the "dust" back
1 million satoshis or bigger in my opinion.
Acceptable to spend a $10 fee on a $1000 transactiin.
By that logic when most transactions are $1million a $1000 fee would be the norm.
BTC = Freedom money for the 1%
1% fee is good mate
@@logann001 I hope you are one of the 'Bitcoin Rich' otherwise it's a custodial future for you along with the other 99%
@@jinglebobfece4d8booglestra34 the fee included a "coin join"...thats why it was high
brooooooo my mind is blowing
Rewind. Listen again.
agree but is ONE utxo more vulnerable than having 10 smallers one spread out across diff keys..?? just sayin
plus u really have to "coin join" ALL the utxos u send to your big stack or its all trackable...