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What is Bitcoin Core's "Coin Control Features"?

How do I use it, and what can I do with it?

Coin Control Features screenshot

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From the "Yet another Coin Control Release [CLOSED]" BitcoinTalk thread:

What is coin control? When you send bitcoins to someone else, the bitcoin client chooses kinda randomly which of your addresses will send the coins. With coin control you can exactly choose, which of your addresses will be the sending addresses. And even more specific which of your unspent outputs will be the sending inputs.

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