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Why is Zeus just the god damn best?
Thank you for everything
Had a dust attack hit my node and your implementation was the first that allowed me to pick utxos on chain.
I think that hiding the leaderboard will hide the gamification of the rewards even more. When you say 'no rewards', do you mean no daily rewards? If so, how are you going to reward those who curate content and don't comment or post much? Maybe that's not what you mean because you say: “Also will not gain sats from general SN pool.”
FYI, for those wanting more information on UTXOs and Coin Control we have dedicated pieces on each of these for all to read and learn from
- UTXO Model: Definition, How It Works & Why It’s Critical
- Coin Control: Definition, Examples & How It Can Save You Heaps On Fees
In answer to your questions...
Is there a UTXO count that you stay below for later fees, not overwhelming signing devices, and ensuring labels are cleanly labeled? 500? 100? 50? 25? 10? etc...
A recommend amount suggested by Joko on X was 1,000,000 sats minimum per UTXO if you're trying to mitigate against a future higher fee environment making smaller UTXOs an issue, but in general it's really up to you. You can also always consolidate many small UTXOs together (or add one small UTXO to a bigger UTXO) and spend them that way if it's an emergency
Do you just let it grow with no management or grow in UTXO with only labeling? Any long term plans to manage?
Always label. It takes 5 seconds and your future self will thank you for it. It's also very important for your privacy and knowing which UTXOs are KYC and which are non-KYC.
From a cost perspective, the fewer UTXOs you have in your wallet, the better. A transaction with a single UXTO of 1 BTC will be cheaper than another transaction that has ten UTXOs of 0.1 BTC as it has ten inputs vs only one.
Thus, to save yourself fees in the future don't just let it go mental. Once you start getting over 10-20 UTXOs you should probably start thinking about some sort of management strategy.
How are you factoring future spending (if ever) as the value continues to increase if managing your UTXO set given change output could reveal too much? IE: Too tight of consolidation makes for chunky UTXOs that could be problematic using for expenditures far less than the UTXO.
How long is a piece of string? The only way to manage this properly is to know what the BTC/USD price will be which is impossible. Also worst case you could open a number of Lightning channels with a chonker of a UTXO and spend smaller amounts of it from there.
Do you have a preferred mix? 50% chunkier UTXOs and remaining 50% in several smaller?
While having fewer inputs will save you more fees, it can also be terrible for your privacy to just consolidate all of your coins into one big giant UTXO. This shows external observers common ownership and if you spend from that big UTXO in the future, the receiver can look back and see what your entire balance is.
Obviously what size UTXOs you keep will be different for everyone given everyone will have a different sized stash, but it’s considered good practice to have a number of different sized UTXOs in your wallet.
This is similar to how you probably don’t just carry around one $100 bill in your actual real world wallet. You instead probably have a few $5’s, a few $10s, maybe three 20’s, some coins or some sort of mix of big and small denominations in there. The same goes for your Bitcoin Wallet.
Don’t just have a single, massive 1 BTC UXTO, have a few 0.1 BTC, a few 0.05 BTC and maybe a 0.5 BTC UTXO as well. Like everything in life, you need a good balance.
What's considered a large UTXO set for when dealing with signing devices? 50? 100? 500? more? May help some context.
This depends on the HWW you're using and its MCU's processing power. The more powerful it is, the better it can process larger UTXO sets and thus, not crash half way through.
Realistically though, it's more likely that you'll be the breaking point as mentally trying to deal with, organize and maintain a UTXO set of 500+ sounds horrific lol
Bonus Point: Backing Up
Make sure you regularly backup your labels! While you should already be backing up your Private Keys, this only helps you to recover your funds, not any labels you might have added over the years to your wallet.
While most good wallets allow you to export or backup your UTXO labels, it’s still done differently depending on what wallet software you’re using. For example, if you’re using Sparrow Wallet and want to transfer all your UTXO labels over to Nunchuk, you can’t. You’d have to manually enter them all in again from scratch.
Thankfully, the developer of Sparrow (Craig Raw) has proposed a new BIP to address just this: Wallet Labels Export Format (BIP-0329). This BIP outlines a standard way that all wallets can adopt in order to ensure there’s full export and import compatibility for coin control labels going forward. Nunchuk has also said they're going to accept it too we believe
Hopefully it gets adopted by all the major wallet makers as coin control is something that will only become more important as the years go by.
A warm night, clear skies... high on LSD (for the first time in my life) in a beautiful cabin in rural Australia, listening to Pink Floyd (cliché, I know, I was laughing to myself at how cliché it was as it was happening, but it really was just the perfect fit for the moment), gazing at the stars, realizing that there comes a point in each and every one of our lives where we have to make a choice whether we want to become a "part of the vastness" or a "part of the nothingness" and making the choice that I most definitely want to become a father as we are the creators, and having children is the most creative and important thing one can do as a human being.
A very surreal experience that, strangely enough, was also one of the realest experiences I've ever had.
I'm not a father yet but that night changed me in a profound sense and I'm working hard every day to become the best man I can be for my future wife and the best dad I can be for my future children.
I also wrote something down that night. I think of it as a poem in and of itself so I guess the "poetic" aspect of the moment should be double or triple checked:
"The vastness
And the nothingness
The difference between them
Is the human experience"
For me, it’s Apple doing R&D in the public square. This is not a mainstream product, but they are shipping it now to learn a great deal and to prepare app developers.
The tech is crap at this time. Too bulky, batteries too inefficient and the form factor like @kr says is terrible. But they will eventually end up on a new & improved product before the end of the decade.
What comes of it could be interesting. Glasses that you never need to go to the doctor again, they improve your vision instead of constantly playing catch-up to your prescription. They provide extra context when driving, and point-out things that we wouldn’t otherwise notice or that may have been forgotten. I.E. where I last left my keys.
The tech will never be transformational though. It’s a replacement product so is not going to improve productivity in my opinion, not in isolation. It might just help us look-up and stop us slouching on our phones & computers more, and replaces the need for headphones with bone-conduction sound. But I’m way more excited about other applications of tiny tech/electronics than a pair of smart glasses or doomsday goggles.