El Salvador Wins BIG with the Bitcoin Freedom Visa | EP 890
Simply Bitcoin
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Bitcoin Transaction Fees and the Importance of Consolidating UTXOs
This chapter discusses the concept of bitcoin transaction fees and the importance of keeping bitcoin in larger chunks. It explains that transaction fees are based on the weight of the transaction, rather than the amount being sent. The chapter also introduces the term 'dust', which refers to utx sos (unspent transaction outputs) that have very low value and are uneconomical to create or spend at the current fee rate. It emphasizes the need to protect oneself from unspendable bitcoin dust and provides recommendations for fee estimations.
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