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Bitcoin UTXOs: the outputs behind a wallet balance

Inputs consume earlier outputs; new outputs define who can spend the resulting amounts.

Technical reference · Bitcoin · 1 min read

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In questo articolo
  1. A balance assembled from pieces
  2. Why investigators care about change
  3. Fonti e originali

A balance assembled from pieces

A Bitcoin wallet's balance is calculated from unspent transaction outputs it can spend. An input references a previous transaction and an output index. A valid spend consumes that output and creates new outputs with their own spending conditions. The wallet interface adds these pieces together for the user.

Suppose a wallet controls outputs worth 0.3 BTC and 0.4 BTC. To pay 0.5 BTC, it may spend both and create a 0.5 BTC recipient output plus a change output, with the difference allocated to the fee. There is no rule requiring the recipient to receive the sender's original outputs unchanged.

A hypothetical Bitcoin transaction consumes two outputs worth 0.7 BTC. It creates a 0.5 BTC payment and 0.1999 BTC in change, leaving a 0.0001 BTC fee. The network does not label an output as change.
A hypothetical Bitcoin transaction consumes two outputs worth 0.7 BTC. It creates a 0.5 BTC payment and 0.1999 BTC in change, leaving a 0.0001 BTC fee. The network does not label an output as change.
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Why investigators care about change

A transaction can have several recipients, and one output may return change to the sender. Assuming that every output is a payment to another person distorts a money-flow diagram. Conversely, identifying a likely change output remains a heuristic unless additional evidence confirms it.

Attribution requires more than adding addresses to a cluster. Coin selection, collaborative transactions and service batching can complicate simple ownership assumptions. Transaction identifiers explain how references work, and reorganisations explain why a recent inclusion can change.

Fonti e originali

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