Thanks again. This is getting complex! surely this will never catch on! ;-)
So, is it correct to say that the transactions received to a wallet, are like blocks (an input) of BTC? Where each block (input) must be used in its entirety if you want to spend a little? In other words, you cannot just take out a little from that block, or input, you have to send it all at once and make sure you ask for change by sending the change back to the same wallet, same address? Or different address?
Yes. No worries, you will learn a lot more by asking around or just browsing the forum.
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A few other things I didn't understand -
1 If I had received lets say 100 different payments to a wallet, all varying amounts, which one of those blocks/inputs would the payment im trying to send come out of? The largest or smallest? Or the first or last?
It really depends on what wallet you are using. Generally, IMO, the lesser inputs used the better.
2 What do you mean by 'save space'? Space in what?
Of a transaction. Transactions do occupy space in the mempool and blockchain. The more inputs and/or outputs you have, the larger your transaction. The larger your transaction, the more fee you will pay.
3 I dont have an Inputs tab, what software are you using? I have qt.
I was referring to coinb.in. Bitcoin Core will select the inputs for you automatically. If you want to do it yourself, go to Send>Coin Control.
4 Coinb will use the whole contents of the wallet? Not just a receipt payment block/input? So the whole content of the wallet must be sent out and received back every time you want to spend a Satoshi?
By default, yes. You can, of course modify which inputs to use. Just click the inputs tab and you can choose which inputs to exclude.
6
Yeah. Its like a how you would be paying $1 million for a candy just to receive a $999,999 change. The cycle will continue.
Just so that I can be sure - You mean that YES, you would have to keep sending the whole contents of the wallet just to spend one satoshi? Surely that cant be correct?
Just to be clear, you have to spend the whole inputs everytime. I was assuming the scenario below.
Eg. I received 1BTC from John
I'm sending 0.01BTC to Jack.
-----> 0.01BTC to jack
----->0.98BTC to myself. (0.01BTC is used as fee.)
Next, I want to send 0.02BTC to Sally.
-----> 0.02BTC to Sally
-----> 0.95BTC to myself. (0.01BTC used as fee).