Hi there. Thank you for the kind compliments! You can use the Sparrow Wallet with your Trezor on a desktop computer. Once you import your wallet information into Sparrow, there is a tab within the app that will list out all the UTXOs that you have.
It’s all about UTXO management. Fees for sending $20 worth of bitcoin will vary depending on how many UTXOs are sent. A $20 transaction with two UTXOs will cost twice as much in fees as a $20 transaction with one UTXO. So it’s essential that we manage the size of our UTXOs properly. That’s the point I was trying to make with the video.
Dust doesn’t really destroy itself, it just costs more to spend it than it’s actually worth. Maybe we can consolidate dust UTXOs when fees are super low, like 1sat/vb.
Thanks for the high quality video.
By the way, I'm using Trezor. How can I know how many UTXO I have?
Hi there. Thank you for the kind compliments!
You can use the Sparrow Wallet with your Trezor on a desktop computer.
Once you import your wallet information into Sparrow, there is a tab within the app that will list out all the UTXOs that you have.
how is this video more than 9 minutes long?
"The more transactions you do, the more fees you will pay" says the same thing you just yapped about.
It’s all about UTXO management.
Fees for sending $20 worth of bitcoin will vary depending on how many UTXOs are sent.
A $20 transaction with two UTXOs will cost twice as much in fees as a $20 transaction with one UTXO.
So it’s essential that we manage the size of our UTXOs properly.
That’s the point I was trying to make with the video.
@@stevenbyang Great work. The video could have been 30 seconds long, thats all i'm saying.
Feedback received. I will try to better condense the information in future videos.
@@stevenbyangthe length is optimal. Expansion of a thesis is necessary
Dust and Lost Coins is a huge problem - how's it an asset if it simply destroys itself? That's no 21 million coins.
for small txs, just use lightning network, which is designed for the said utxo problem
Dust doesn’t really destroy itself, it just costs more to spend it than it’s actually worth. Maybe we can consolidate dust UTXOs when fees are super low, like 1sat/vb.
Lightning definitely solves the small transaction problem.
@@stevenbyang thanks Steven, will def look more into consolidation and follow your content!
Thank you :)
I’m still learning about Bitcoin as well. It’s such a fascinating asset. Let’s share our thoughts and ideas here together 😁