0 sats \ 3 replies \ @muteness11 3 May 2023 \ on: How to save on mining fees bitcoin
this is quite helpful.... can you explain point 5?
The idea is to try to write as little data as possible. If I have a lot of coins for some reason, I can cosolidate them in times of low fees - combine them into fewer coins so I don't have to write so much data in the future. Analogously, in the reverse situation, I may want to split one coin into several. Ideally so that I can easily consume the whole thing in the future as described in point 4.
Does it make sense to you?
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One could also make a single transaction out to a series of smaller coins with a doubling sequence, so, half in one, half of the half in the second, etc, to one's taste, and then one will be able to make a payment from it at exact precision, with a small set of coins. The optimal efficiency pattern is 2s, 3s and 5s for the smallest coin set for any given payment amount, this gives you the equivalent of base 60 to divide things up perfectly in quarters, sixths, tenths, wha;tever you need.
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Thanks a million!
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