Ate brisket cooked low and slow. Now doing brisket fueled squats. Great day!

Works every damn time. 🤣

Bitcoin Transaction Fees and UTXO Management

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- when bitcoin blocks are full, highest fee transactions are confirmed first

- your bitcoin wallet may show a single balance but the reality is that it is made of many different unspent transaction outputs (UTXOs)

- when you make a bitcoin transaction your wallet will select as many UTXOs as necessary to reach the amount of bitcoin you wish to send

- onchain transaction fees are calculated based on size in bytes not the amount of sats sent

- the more utxos required on the input side the higher the fee paid

- from a cost perspective you want to consolidate utxos, fewer utxos with larger amounts

- consolidation has privacy tradeoffs though: you link any UTXOs you consolidate as owned by the same person + larger UTXOs mean you will dox more of your stack to anyone you pay in the future

Therefore you want to reduce the number of UTXOs you have while being mindful of the privacy concerns.

Lightning Transaction fees are calculated differently: based on the amount in sats sent. Opening lightning channels when fees are low can enable you to save money in the future when fees rise. 🤙

GN nostriches 🌛

What’s your story? How did you first find about Nostr?

Hunting for rare nostriches

The journalists torturing Charlie with #Bitcoin questions are just another example of cyber hornets spreading the gospel of Satoshi.

Is there a way to establish how many followers you have? Damus shows wildly different numbers each time.

GM all you beautiful nostriches

JUST IN: #Bitcoin just hit a new 2023 high 🚀