A utxo is an unspent transaction output. More specifically it’s a locking script and on amount. Bitcoin wallets tally up all the utxos you have the private key(s) to unlock(spend) and this is your balance. If you do not have one or a combination of many utxo’s that add up to more than the amount you want to spend than you cannot create and sign a valid bitcoin transaction.
Because Bitcoins are not "created/made" but instead it is "distributed" through Coinbase. The total epoch with block reward as incentive are fixed to the first 34th epoch (.2140-200
Speaking of 21 millions, there could not be "21 millions Bitcoins" either in circulation or in existence, why ?
The supply cap is less than that
OP_Return or some other scenarios can make UTXOs unspendable
Some Block rewards aren't fully-claimed (intentionally?)
A Bitcoin is divisible up to eight decimal places. There are actually 2,099,999,997,690,000 (just over 2 quadrillion) of maximum possible atomic units in the bitcoin system.
The value of "1 BTC" represents 100,000,000 of these. In other words, each bitcoin is divisible by up to 108.
As the value of the unit of 1 BTC grew too large to be useful for everyday transactions, people began to negotiate with smaller units such as milli-bitcoins (MBTC) or micro-bitcoins (μBTC).
It's tuesday, your friend tells you they would like to hang out next friday. Does that mean they want to hang out in 3 days or in 10 days ? is next friday the literal next friday or the friday in the next week? :)
Why does a transaction fails if we don't have enough UTXO for transaction?
What do you mean?
A utxo is an unspent transaction output. More specifically it’s a locking script and on amount. Bitcoin wallets tally up all the utxos you have the private key(s) to unlock(spend) and this is your balance. If you do not have one or a combination of many utxo’s that add up to more than the amount you want to spend than you cannot create and sign a valid bitcoin transaction.
Why can't we ever have exact 21 Million Bitcoins mined?
Because Bitcoins are not "created/made" but instead it is "distributed" through Coinbase. The total epoch with block reward as incentive are fixed to the first 34th epoch (.2140-200
Speaking of 21 millions, there could not be "21 millions Bitcoins" either in circulation or in existence, why ?
https://en.bitcoin.it/wiki/Controlled_supply
https://www.reddit.com/r/Bitcoin/comments/ujhes1/satoshi_gave_us_33_epochs_spanning_over_130_years/
https://lookingglasseducation.com/the-bitcoin-supply-formula-explained/
https://dergigi.com/2022/10/02/bitcoin-is-digital-scarcity/
A Bitcoin is divisible up to eight decimal places. There are actually 2,099,999,997,690,000 (just over 2 quadrillion) of maximum possible atomic units in the bitcoin system.
The value of "1 BTC" represents 100,000,000 of these. In other words, each bitcoin is divisible by up to 108.
As the value of the unit of 1 BTC grew too large to be useful for everyday transactions, people began to negotiate with smaller units such as milli-bitcoins (MBTC) or micro-bitcoins (μBTC).
Congrats @TheMorningStar. Enjoy the sats
Thank you so much!
I really didn't think my question would win.
How do we extract the wisdom from older generations and instill it in the young generation?
Expert Systems
Easy as that
It's tuesday, your friend tells you they would like to hang out next friday. Does that mean they want to hang out in 3 days or in 10 days ? is next friday the literal next friday or the friday in the next week? :)
They must clarify. 90% of the time they mean "in three days" but sometimes not.
It's better to say "this coming Friday" and "the Friday after this one", for the 3 and 10 day option. It's clearer.
agreed! i feel like the concensus, at least anecdotally where i live, is that it would mean in 10 days but to me i think it means 3 days.
Does P=NP ?
Why are we here?