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13,000 BTC moved to a new wallet. It wasn’t me.

13,000 BTC moved to a new wallet. It wasn’t me.



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  1. Bitcoin address balance works on the principle of UTXOs or Unspent Transaction Outputs. A UTXO is basically a TRANSACTION OUTPUT that u can spend.

    If u have 100 bitcoins and want to send me 5 bitcoins, under the hood, ur wallet sends me all ur 100 Bitcoin, I keep my 5 bitcoins and I give u back 95 Bitcoin as a UTXO or change.

    This is why for a Bitcoin transaction from one wallet to another, there is 1 input and 2 outputs. The input being the senders wallet address and one of their UTXOs. The 1st output is the receivers wallet address and the amount of bitcoins u want to send them. The 2nd output is the address of the senders wallet where the “change” of the transaction is sent. This 2nd output is the TRANSACTION OUTPUT that the sender can use to send bitcoins in their next transaction.

    Now u might think. Why does the 1st input and the 2nd output contain different addresses if the “change” has to be sent back to the receiver. This is because, nowadays, wallets add an extra layer of security by using 1 private-public key pair address for a single transaction. This means every time u send some Bitcoin, ur wallet creates a new address for the balance to be received in. This address is then used for the next transaction and the process is repeated again. This is all done automatically by the app that manages ur wallet whether it is Exodus, Coinbase Wallet or any other Bitcoin supported wallet.

    And yes, based on the math, there are enough wallet addresses to last till the extinction of humanity.

    Hopefully I’ve explained it in an easy way.

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