clementinemoney

thebtctoto

This article has been updated to fix an error pointed out by one of our readers!

## The error:

Miner fees are not UTXOs! They are just the leftover amount from each transaction after outputs are accounted for. They are paid to miners as part of the coinbase transaction.

## New diagram:

![new image](https://www.clementinemoney.com/content/images/2022/11/Bitcoin-Transaction-1-.png)

bitcoin

Happy Thanksgiving!

Just dropped a new article and wanted to share: [Bitcoin UTXOs: Explained for Beginners](https://www.clementinemoney.com/utxo/)

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## Topics Covered:

- What is a UTXO?
- Similarities Between UTXOs and Cash
- How UTXOs Differ From Cash
- Basic Rules for Bitcoin Transactions and UTXOs
- Example Transaction
  - What Users See
  - What Really Happens
- Where are UTXOs stored?
- UTXOs and Privacy

![image](https://www.clementinemoney.com/content/images/2022/11/Bitcoin-Transaction-10-.png)