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October 15, 2017, 03:15:40 AM |
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It means exactly what it sounds like, the transaction output has been spent or it has not been spent (unspent). Bitcoin works on transaction outputs, not addresses or balances of addresses. When you spend Bitcoin, you are actually consuming a transaction output. This is known as spending a previous transaction output. The coins that are spent go into new transaction outputs which are then spent by the receiver when they want to spend the coins.
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