What do y'all recommend for utxo sizes. I've heard a lot people recommend 0.01btc which makes sense to me.
But future fee rates could be high so I have no idea.
Would love to hear your thoughts.
31 sats \ 0 replies \ @DarthCoin 11 Nov 2023
I explain it here #278301
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31 sats \ 6 replies \ @Zepasta 11 Nov 2023
deleted by author
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41 sats \ 5 replies \ @DarthCoin 11 Nov 2023
You should care.
Opening a LN channel with 100utxo each one of 30k is not the same as opening with one utxo of 3M sats.
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21 sats \ 0 replies \ @lonestarr 11 Nov 2023
Excellent point. UTXO management is very important. Balance between minimizing fee rate and not holding all your value in one basket.
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0 sats \ 3 replies \ @Zepasta 11 Nov 2023
I only use on-chain once a month when selling my fiat. Its like 12 utxo per year, big ones. For me UTXOs are not an issue.
For a newbie that is constantly DCA'ing small amounts, that will be a problem.
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0 sats \ 2 replies \ @okpj 11 Nov 2023
Is something like 1 million sats an ideal UTXO? I foolishly swept all of my KYC coin into a single UTXO and if/when fees go back down, plan to split it up again.
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21 sats \ 1 reply \ @DarthCoin 11 Nov 2023
Not really.
You should have many utxo with many different amounts.
1M, 3M, 5M, 10M, 21M.
Each one will be used at a different moment you need.
Example: you need to open a 5M sats LN channel. You will not use a 21M utxo or 2utxos of 2M + 1M, but a 5M utxo.
You get it now?
So leave that utxo as it is now. Start building new ones.
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0 sats \ 0 replies \ @okpj 11 Nov 2023
Thanks Darth!
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73 sats \ 0 replies \ @Athena_Alpha 11 Nov 2023
Obviously what size UTXOs you keep will be different for everyone given everyone will have a different sized stash, but it’s considered good practice to have a number of different sized UTXOs in your wallet.
This is similar to how you probably don’t just carry around one $100 bill in your actual real world wallet. You instead probably have a few $5’s, a few $10s, maybe three 20’s, some coins or some sort of mix of big and small denominations in there. The same goes for your Bitcoin Wallet.
Don’t just have a single, massive 1 BTC UXTO, have a few 0.1 BTC, a few 0.05 BTC and maybe a 0.5 BTC UTXO as well. Like everything in life, you need a good balance.
More Info: Coin Control: Definition, Examples & How It Can Save You Heaps On Fees
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0 sats \ 0 replies \ @fiatdenier 11 Nov 2023
1M sats / 5M sats / 10M sats
25% / 35% / 40%
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