UTXO horror story Not really horror but. Shitty. We had been putting a small amount of bitcoin into a wallet every week. DCA’ing just like most. Last week we tried consolidating and it was going to cost $150 in fees (over 150k SATS) Keep in mind the amount being transferred is not a huge amount. Today we consolidated at 7 sats/vb and it still cost around $80. I know this was the right play but fuck did it hurt. Just some advice for people who might not be familiar with UTXO management (like me when the majority of these sats were sent) An expensive lesson but at least we were able to move them at such a low transaction fee. Lots won’t have this luxury in the next few years / decades. Prepare while you can!

Replies (8)

What size DCA buys were they? Sub $20? You must have consolidated 30-50 utxos for that price. I consolidated last week, nothing smaller then 500k sat UTXOs, nothing bigger then 2million sat UTXOs for privacy.
Only if he withdrew each one individually after buying. While it's still on the exchange it's just an IOU and even if you buy 1000 times before withdrawing the exchange will lump all the buys into one UTXO when you do finally withdraw.
Maybe your exchange operates differently and sends your buys immediately or has an auto withdraw option. Most exchanges allow you to stack up multiple buys before withdrawing.
RealJohnDoe's avatar
RealJohnDoe 2 years ago
That's bullshit. See my post below..💀🦍
RealJohnDoe's avatar
RealJohnDoe 2 years ago
$boost The problem is that miners just aren't following the full #Bitcoin protocol. #Satoshi said there should be some free transactions. The Virtuous Full #Nodes and Bitcoin #Loyalist will have to enforce the rest of the protocol. Miners will have to be required to process a quota of free transactions with every block, for the privilege of mining Bitcoin..🧡😊🦍