31 sats \ 4 replies \ @Bullen 30 Oct 2023 \ on: Trying to understand what UTXOs are all about bitcoin
There are no bitcoins, just UTXOs😉
With number 6. - this is why we believe it is good to consolidate smaller UTXOs into a larger one.
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121 sats \ 3 replies \ @DarthCoin 30 Oct 2023
but not so large... never keep all your bitcoin into a single UTXO. Always size your UTXOs to be ready enough to open a decent LN channel. Onchain UTXOs should be used exclusively for opening/closing LN channels.
You end up with small UTXOs because you are transacting too much onchain instead of LN.
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10 sats \ 0 replies \ @Bullen 30 Oct 2023
Yep. Couldn't agree more!
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0 sats \ 1 reply \ @BitcoinIsTheFuture 24 Mar
What are the risks of having all your on-chain Bitcoin in one UTXO? I just condensed all 50 into only one now. But I DCA. So more will be on the way in larger chunks in the future.
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100 sats \ 0 replies \ @DarthCoin 24 Mar
Pay attention to this guide. is all explained there. https://darth-coin.github.io/beginner/be-your-own-bank-en.html
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