From mboxrd@z Thu Jan 1 00:00:00 1970 Received: from sog-mx-4.v43.ch3.sourceforge.com ([172.29.43.194] helo=mx.sourceforge.net) by sfs-ml-1.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1VZqCX-0004at-Ik for bitcoin-development@lists.sourceforge.net; Fri, 25 Oct 2013 22:49:53 +0000 Received-SPF: pass (sog-mx-4.v43.ch3.sourceforge.com: domain of petertodd.org designates 62.13.149.58 as permitted sender) client-ip=62.13.149.58; envelope-from=pete@petertodd.org; helo=outmail149058.authsmtp.co.uk; Received: from outmail149058.authsmtp.co.uk ([62.13.149.58]) by sog-mx-4.v43.ch3.sourceforge.com with esmtp (Exim 4.76) id 1VZqCT-0006Jo-CB for bitcoin-development@lists.sourceforge.net; Fri, 25 Oct 2013 22:49:52 +0000 Received: from mail-c235.authsmtp.com (mail-c235.authsmtp.com [62.13.128.235]) by punt14.authsmtp.com (8.14.2/8.14.2) with ESMTP id r9PMngAX081499; Fri, 25 Oct 2013 23:49:42 +0100 (BST) Received: from petertodd.org (petertodd.org [174.129.28.249]) (authenticated bits=128) by mail.authsmtp.com (8.14.2/8.14.2/) with ESMTP id r9PMnd1u070031 (version=TLSv1/SSLv3 cipher=DHE-RSA-AES128-SHA bits=128 verify=NO); Fri, 25 Oct 2013 23:49:41 +0100 (BST) Date: Fri, 25 Oct 2013 18:49:38 -0400 From: Peter Todd To: Jeremy Spilman Message-ID: <20131025224938.GB18030@petertodd.org> References: <20131024143043.GA12658@savin> <20131024144358.GA17142@savin> <20131024145447.GA19949@savin> MIME-Version: 1.0 Content-Type: multipart/signed; micalg=pgp-sha256; protocol="application/pgp-signature"; boundary="gatW/ieO32f1wygP" Content-Disposition: inline In-Reply-To: User-Agent: Mutt/1.5.21 (2010-09-15) X-Server-Quench: bc6deae1-3dc7-11e3-b802-002590a15da7 X-AuthReport-Spam: If SPAM / abuse - report it at: http://www.authsmtp.com/abuse X-AuthRoute: OCd2Yg0TA1ZNQRgX IjsJECJaVQIpKltL GxAVKBZePFsRUQkR aQdMdAcUF1YAAgsB AmUbWVdeVFR7XWE7 ag1VcwRfa1RMVxto VEFWR1pVCwQmQxVh e0BKU1xycAVGe38+ ZERjV3IVDhd8IRMs F09JFjlVYnphaTUc TRJQdwFJcANIexZF O1F6ACIKLwdSbGoL NQ4vNDcwO3BTJTpY RgYVKF8UXXNDOzc/ RhYNVTsiEAUIXDky KhU6K1kaVEwcLlk/ KzMA X-Authentic-SMTP: 61633532353630.1023:706 X-AuthFastPath: 0 (Was 255) X-AuthSMTP-Origin: 174.129.28.249/587 X-AuthVirus-Status: No virus detected - but ensure you scan with your own anti-virus system. X-Spam-Score: -1.5 (-) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. 0.0 URIBL_BLOCKED ADMINISTRATOR NOTICE: The query to URIBL was blocked. See http://wiki.apache.org/spamassassin/DnsBlocklists#dnsbl-block for more information. [URIs: github.com] -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain -0.0 SPF_PASS SPF: sender matches SPF record X-Headers-End: 1VZqCT-0006Jo-CB Cc: Bitcoin Dev Subject: Re: [Bitcoin-development] Making fee estimation better X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Fri, 25 Oct 2013 22:49:53 -0000 --gatW/ieO32f1wygP Content-Type: text/plain; charset=us-ascii Content-Disposition: inline Content-Transfer-Encoding: quoted-printable On Fri, Oct 25, 2013 at 12:51:22AM -0700, Jeremy Spilman wrote: > Gavin, can you confirm the best place to read up on the discuss > fee estimation changes for v0.9? >=20 > I think fee estimation at its core is about providing a data point, > or even call it an API, which can be used however you see fit. >=20 > What parameters do I want to see in a 'fee estimation' API? >=20 > - 30 minutes vs 24 hours processing time > - Confidence Levels (50%/90%) >=20 > What properties does the result have? > - Is it globally consistent? >=20 > Talking about fees.. I read this: > https://gist.github.com/gavinandresen/2961409 and there is so much > there I really liked. State-of-the-art thinking has changed a lot; that document is over a year old and needs significant changes to update it. > Any pointers for reading more about the leading theories on > transaction fees? For example, how well do they correlate with > network security? Are we getting what we are paying for? :-) Network security is currently funded by inflation rather than transaction fees. This is likely to remain true for at least a few more years. FWIW the cost of that security on a per transaction basis is about $18, see http://blockchain.info/charts/cost-per-transaction --=20 'peter'[:-1]@petertodd.org 0000000000000009b86605cc3235f2674600d5131dd437d941b479e78588177b --gatW/ieO32f1wygP Content-Type: application/pgp-signature; name="signature.asc" Content-Description: Digital signature -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.11 (GNU/Linux) iQEcBAEBCAAGBQJSavWCAAoJEBmcgzuo5/CFPBcIAIVoLs3/yLZneCMvOYgN210K aQ4WyDQFH+2Rsxtifb53Hp9iNFFI2iunVA/P1o0vLuVhWnvlsMlKy1zGrwNprviX hahQhgSgi8EddFK8m2qIXLV/F4jCvCI/1Dgt6dIjlxj8VA/g7FkDIKewdll1sE3y W1VO38jiO1OJLMd9wBwfon9rDUmymlOdCABlv6Qxi+/CoI1YDKjf1Gn4hNVKzriS Cc+LnurW6UmIGCIbbYeC58L0cLmxTK5tPAwd/i4ZyKh4By/FzqDa4utyFbEJStW6 HPB4V3I4zOZcqit/+WWHgw/sqGndPgZAlg83rvsuQVqS/FynY1O9p8MAG4CdBHA= =UGLo -----END PGP SIGNATURE----- --gatW/ieO32f1wygP--