JohnJames on Nostr: Happy to help… would you like some general rules of the road to start? Think of a ...
Happy to help… would you like some general rules of the road to start?
Think of a UTXO as bill that you are saving to spend in the future… you are going to want some small bills for small things, and some bigger bills for bigger things. Bills for groceries for the month, and bills for a car or a house one day (it will grow to include more value)…
1. If you are just starting to stack and have put in less than $1000, you will want to target consolidating your stack into at least 0.01 btc UTXO or greater… imho a target smallest UTXO to be able to use in the future will be between 0.01 & 0.02 btc
2. Once you have a 0.01 btc UTXO you can start to work on a 0.02… then a 0.04… keep doubling your UTXOs as you stack so that you have a useful spread of value to spend one day…
3. If you have a significant stack and you are wondering how to spread it, my suggestion below will help you extrapolate to any amount you have…
Ex. You have 1 btc, how to spread the UTXOs? In the below example, your value is spread out so that you can spend an appropriate (as close to exact amount as possible) without leaking your full balance or value of your stack to the receiving party…
1 x 0.5 ($33K)
1 x 0.25 ($16.5K)
2 x 0.1 ($6.5K)
1 x 0.05 ($3.25K)
The idea is that as your stack grow in value, you will want smaller UTXOs to spend for things you will need… and you will want the bigger UTXOs to make large changes in lifestyle / lifestyle quality of life or for passing on to your children one day
I hope this helps 🙏🏼 if you have further questions let me know
Think of a UTXO as bill that you are saving to spend in the future… you are going to want some small bills for small things, and some bigger bills for bigger things. Bills for groceries for the month, and bills for a car or a house one day (it will grow to include more value)…
1. If you are just starting to stack and have put in less than $1000, you will want to target consolidating your stack into at least 0.01 btc UTXO or greater… imho a target smallest UTXO to be able to use in the future will be between 0.01 & 0.02 btc
2. Once you have a 0.01 btc UTXO you can start to work on a 0.02… then a 0.04… keep doubling your UTXOs as you stack so that you have a useful spread of value to spend one day…
3. If you have a significant stack and you are wondering how to spread it, my suggestion below will help you extrapolate to any amount you have…
Ex. You have 1 btc, how to spread the UTXOs? In the below example, your value is spread out so that you can spend an appropriate (as close to exact amount as possible) without leaking your full balance or value of your stack to the receiving party…
1 x 0.5 ($33K)
1 x 0.25 ($16.5K)
2 x 0.1 ($6.5K)
1 x 0.05 ($3.25K)
The idea is that as your stack grow in value, you will want smaller UTXOs to spend for things you will need… and you will want the bigger UTXOs to make large changes in lifestyle / lifestyle quality of life or for passing on to your children one day
I hope this helps 🙏🏼 if you have further questions let me know