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Topic: Things you should know about dust (Read 174 times)

Mia Chloe
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Things you should know about dust
November 22, 2023, 09:26:36 PM
#4
Quote from: Richbased on November 22, 2023, 08:57:46 PM
Op what about a scenario whereby you merge both the amount of cryptos you want to transfer to someone including the transaction fees but yet it keeps saying unable to transfer due to dust UTXO what can someone do at that time because I've encountered a situation whereby I have 0.0008575btc in my wallet then I wanted to send it to another address but the transaction fee was about 0.00093btc so I now tried sending 0.0007645btc to the address but I still got the dust UTXO error so what can be done in other for the dust error not to appear again
From the numbers you gave above,0.00093btc which is the transaction fee is larger than the amount 0.0008575btc which you are willing to send.I suggest you fund your wallet with more Bitcoins as the mempool is still quite congested owing to high fees.
You can also make use of SEGWIT address on lightning network to help reduce your fees
Richbased
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Re: Things you should know about dust
November 22, 2023, 08:57:46 PM
#3
Op what about a scenario whereby you merge both the amount of cryptos you want to transfer to someone including the transaction fees but yet it keeps saying unable to transfer due to dust UTXO what can someone do at that time because I've encountered a situation whereby I have 0.0008575btc in my wallet then I wanted to send it to another address but the transaction fee was about 0.00093btc so I now tried sending 0.0007645btc to the address but I still got the dust UTXO error so what can be done in other for the dust error not to appear again
tranthidung
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Re: Things you should know about dust
November 21, 2023, 09:11:50 AM
#2
Some threads about dust attacks.

There are different limit for Bitcoin dust
  • Legacy addresses: 546 satoshi
  • Native Segwit addresses: 294 satoshi
  • Taproot addresses: 330 satoshi
Mia Chloe
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Re: Things you should know about dust
November 21, 2023, 08:25:14 AM
#1
The term"Dust" or "Dust coin" is unique to Bitcoin. It refers to very small amounts of Bitcoin that are economically too small to spend.This is because these amounts of Bitcoin to be sent are so small that the transaction fees needed to transact them  becomes bigger than the Bitcoin to be sent.These dust coins are typically tiny fractions of Bitcoin that are lower than the minimum transaction limit of the network.Due to this fact many wallet would display a UTXO error or rather some custodian wallets would display a feedback of  insufficient Bitcoins.To further explain better,below are a list of properties related to Dust coin.
Note-->Any additional information would be appreciated

  •   The Dust Limit factor
    The Bitcoin dust limit is the minimum amount of Bitcoin that can be included in a transaction or transacted with. This limit helps maintain the efficiency of the network.It also serves as a form of protection against spam on the network.
  •    Transaction Fee factor
    The major problem accompanying dust transactions is  the transaction fees required to spend them.Due to the fact that it makes the transaction economically unfeasible. Consider it a situation of trying to send 1 cent with a fee of $10 or even more.
  •   The UTXO Set
    The UTXO error is one of the most common error displayed when trying to carry out a dust transaction.Dust transactions can contribute to the growth of the Unspent Transaction Output (UTXO) set which consists of all unspent transaction outputs on the Bitcoin network.Large UTXO can have negative effects on the Bitcoin network performance and scalability.
  •   Wallets
    Some cryptocurrency wallets carry out certain strategies to handle dusts.For instance some wallets consolidate small inputs into larger ones when possible to make  them easier to  manage.
  •   Dynamicity
     The problem of dust and other limits on the Bitcoin network may be fixed over time based on changes that may occur to the Bitcoin protocol, community consensus and other network related factors.
  •   To Prevent Spam
    The reason for the dust limit design is to prevent flooding of the Bitcoin network with numerous tiny transactions, which could be used for spam or  bloat the UTXO set of the Bitcoin network.
  •   The Satoshi
    The smallest unit of Bitcoin is referred to as a satoshi.One Bitcoin contains a standard division of 100,000,000 satoshis which contributes to the number of decimals in a Bitcoin. in some cases dust transactions can involve amounts smaller than a satoshi.

In conclusion, generally a Bitcoin transaction consists of an input which is the source of Bitcoin to be sent and the output which is the receiver or destination.In most cases if the input size is too small the transaction may be treated as a dust.

Don't forget to keep your keys safe mate 😁
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