Serious question....
How do you feel about a UTXO of 1000 sats
#asknostr #plebchain
Serious question....
How do you feel about a UTXO of 1000 sats
#asknostr #plebchain
Only if there’s a jpeg on it, that’s worth more than a RuneScape party hat
Fine for now, but probably very dusty in a few years.
hope you can consolidate it
I hope there’s so many of these because they will always make ₿ be burned or lost in a sense
Honestly this is something I’ve been fighting a little with myself
I know most people suggest a minimum of 1 million sats for a UTXO - and that may have been the case based on where we’ve been, but not where we’re going
Personally I’ve been using about 250k sats as my minimum but I will be lowering that as well
My main concern is having sats (let’s say 50k or something) and the wallet gets rugged. Or you lose your phone. Or whatever the case may be
I’d much rather have them in cold storage - in my possession - and then consolidate when the time is right
It seems like people only get burned when
A) they’re unaware of UTXOs and the longer term consequences and
B) they have to spend/sell some bitcoin in a high fee environment
But I think if you manage them and wait for a low fee environment, UTXO size isn’t a huge deal
So to answer your Q, a 1000 sat UTXO is definitely too small unless you plan on holding them for 20 years
But I think the bitcoin community as a whole has their minimums too high
I’d rather have the sats in my possession and pay a small fee to consolidate later, than risk keeping them on a hot wallet or exchange
As hard-cash over an Opendime-like device... although in this case the actual security of the object's value is the ability to get the satoshis "out" of the device... 🤔
A damaged device might worth nothing. However if not electronic, then maybe some of a better durable material that could secure an imprint of the seed...
Something something; titanium plus craftsmanship...
👀 👉 nostr:npub1n0700587vxccg466w8h2a5ethmj2869n2ht0ucrv79rffz663cdqtmr62v
Please wait a bit, I'm currently preparing for the crowdfunding of my product. I'll probably do it on Kickstarter.
Makes me feel anxiety.
a lil small