Mempool fees are low rn. Utxo management is important. Get on it. Don’t be that person
Tell em nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
Discussion
How do I consolidate my UTXO’s?
nostr:npub1utx00neqgqln72j22kej3ux7803c2k986henvvha4thuwfkper4s7r50e8 how he consolidates you?
If you Google that there are many YouTube videos
Basically select all your small utxo’s and send them to a fresh address in your wallet.
Mempool transaction fees are higher if transactions contain many utxo’s. The fee is proportional to amount of utxo’s not the value of the transaction.
Perfect moment to drain one of the hot wallets nostr:npub1s0vtkgej33n7ec4d7ycxmwt78up8hpfa30d0yfksrshq7t82mchqynpq6j
Yep
I know this is super subjective nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx but let's say I'm leaning more to the side of privacy. What utxo size do you think to target if I'm not planing on spending these sats until $1mil per BTC?
That’s a tough one. I just vary the size. Trying to estimate what my spend is going to be over the next few months to a year and make wallets.
As big as you can. You can always buy smaller UTXOs in the future, but you might not be able to buy large ones and consolidating when fees are high won’t be fun.
Still need to be mindful of having just one large one. Reason is when you spend the size of your stack will be revealed. Spending a whole coin utxo today to buy a T-shirt for 50 bucks creates a change ouput of 27,000 dollars worth of sats for example. Me personally I think it’s good to have a few smaller ones depending on your spending habits of course. It’s very subjective and I realize everyone’s situation will be different.
Yep. My response assumed one would continue to stack on a consistent basis for years to come.
For people looking to get in now and do a one time allocation then having a single utxo is not ideal for the reasons you mentioned.
Yep. That said I cleaned up some two months worth of utxo’s while I slept last night at 4 sat/vb. Rinse repeat
Unchained has an article that should help you. I found the first table under fee protection goes beyond dust section very usfull to decide on the UTXO size.
Hope this help.
say what?