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Author Topic: Unspent Output on  (Read 1780 times)
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July 09, 2017, 07:26:13 PM

 Huh Huh Huh

Can anyone explain to me about Unspent Output on

I have been reading up on it but I seriously am even more confused than when I started reading up on it

Can anyone explain to me in lame man terms or know of a site that can?

What I mainly want to know is can I spend the Unspent Output  Grin

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July 09, 2017, 07:38:40 PM

Bitcoin works via creating outputs and spending from outputs. When you create an output and no transaction has spent from it, then it is an unspent output. If there is a transaction which spends from the output, then it is spent.

Outputs have a certain script, and usually these scripts (but not always) require someone to produce a digital signature which verifies with the public key which hashes to the hash specified in the output script. These outputs are pay to pubkey hash outputs and are represented as addresses beginning with a 1. The people who can spend from an output are those that can create an input script which, when concatenated with the output script of the output it spends from, must verify to true. Otherwise the transaction is invalid.

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July 10, 2017, 02:14:32 AM

What I mainly want to know is can I spend the Unspent Output  Grin
If you are the "owner" of that Bitcoin address, then you should be able to "spend" those unspent transaction outputs (UTXOs) by opening your bitcoin wallet, selecting "Send" and create a transaction that sends a given amount of bitcoins to another address. The wallet will automagically select the appropriate UTXOs that are contained in your wallet to include in the transaction that you create.

Given that the address you have provided the link for is a "Multi-Signature" address, (ie. it starts with a "3")... then at least one other party is going to need to provide authorisation to any transaction that you create.

Which wallet software are you actually using? Did you create a "Two Factor Authentication" wallet of some description?

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