READ THE DESCRIPTION! ⬇️⬇️⬇️

This video will go through what UTXOs are, how they function within Bitcoin, and how to prepare them for Runes. I'll also be answering a few questions that people had from my previous video.

There are a few things I would've liked to add on, but to save some of your time it'd be better to add it within the description. Here are the items:

- In case my explanation for a Rune mint was misunderstood, 1 Rune Mint will require 1 UTXO, but the cost won't be the entire UTXO. Just like when I showed my UTXO example, depending on how high you set your fees, you may receive change back. My goal with this video is to show you how to prep your UTXO with enough sats so that you receive enough change back to create a second mint (assuming we have a fee rate of 700 according to the example). This will save you more on fees when you split your UTXOs since there will be less inputs (aka less data) in the transaction.

- I primarily focused on UTXO splitting in this video due to it being more Runes-focused, but the opposite of that would be UTXO consolidation. Why would someone consolidate their UTXOs? The simple answer is that it would cost less in transaction fees because you'd only be using a few large UTXOs.

- Try to consolidate/split your UTXOs during low fee times.

- Privacy is another thing to consider when it comes to UTXO Management. If you'd like to learn more about how privacy is affected I recommend checking out this video (I've no idea who these people are, I just like their explanation):    • Bitcoin UTXOs Explained  

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Resources 📚 :
Xverse: https://www.xverse.app/
Luminex UTXO Splitting Tool: https://luminex.io/runes/split-utxos
Magisat: https://magisat.io/
BitcoinCore: https://bitcoincore.org/en/releases/2...
Ordinal/Rune Docs: https://docs.ordinals.com/
Ordinals Github [DOWNLOAD THE LATEST VERSION 0.18.1 as of 4/12/2024]: https://github.com/ordinals/ord
Mempool [+Signet]: https://mempool.space/ https://mempool.space/signet
Shared Delusion Index: https://ordstuff.info/indexes/

Timestamps:
00:00 - Intro
00:29 - Answering Bitcoin Core Version Question
01:03 - Answering Ord Version Question
01:22 - Answering --index-sats Flag Question
02:00 - How To Replace index.redb Ord File
03:19 - What Are UTXOs?
05:56 - How UTXOs Play A Role In Runes
07:27 - How Much Will Fees Be?
08:46 - Runes Fee Calculation Estimate
12:00 - How To Split UTXOs [Xverse]
14:12 - How To Split UTXOs [Ord Wallet]
16:51 - Outro