From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 9B5E9108A for ; Wed, 24 Jan 2018 07:45:00 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from outmail149095.authsmtp.com (outmail149095.authsmtp.com [62.13.149.95]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id D6E45134 for ; Wed, 24 Jan 2018 07:44:59 +0000 (UTC) Received: from mail-c245.authsmtp.com (mail-c245.authsmtp.com [62.13.128.245]) by punt22.authsmtp.com. (8.15.2/8.15.2) with ESMTP id w0O7ivkD077130; Wed, 24 Jan 2018 07:44:57 GMT (envelope-from pete@petertodd.org) Received: from petertodd.org (ec2-52-5-185-120.compute-1.amazonaws.com [52.5.185.120]) (authenticated bits=0) by mail.authsmtp.com (8.15.2/8.15.2) with ESMTPSA id w0O7itKl086720 (version=TLSv1.2 cipher=DHE-RSA-AES256-GCM-SHA384 bits=256 verify=NO); Wed, 24 Jan 2018 07:44:56 GMT (envelope-from pete@petertodd.org) Received: from [127.0.0.1] (localhost [127.0.0.1]) by petertodd.org (Postfix) with ESMTPSA id C6D6A4010A; Wed, 24 Jan 2018 07:44:54 +0000 (UTC) Received: by localhost (Postfix, from userid 1000) id 88D12209B1; Wed, 24 Jan 2018 02:44:53 -0500 (EST) Date: Wed, 24 Jan 2018 02:44:53 -0500 From: Peter Todd To: Gregory Maxwell , Bitcoin Protocol Discussion Message-ID: <20180124074453.GC12767@savin.petertodd.org> References: <20180122200023.GA1055@savin.petertodd.org> <7yyS0mCgC8UWMYR_Jf1hB_GkkGj6Iu8tnIO7TeXWWyCrg9j4RZ7ziprCPZcv2xsFZdUzcFuHyeMU2-RBujzlSXdUAWlqdricuL2abaX0PWE=@protonmail.com> MIME-Version: 1.0 Content-Type: multipart/signed; micalg=pgp-sha256; protocol="application/pgp-signature"; boundary="WplhKdTI2c8ulnbP" Content-Disposition: inline In-Reply-To: User-Agent: Mutt/1.5.23 (2014-03-12) X-Server-Quench: 78fd0d03-00da-11e8-9f3b-9cb654bb2504 X-AuthReport-Spam: If SPAM / abuse - report it at: http://www.authsmtp.com/abuse X-AuthRoute: OCd2Yg0TA1ZNQRgX IjsJECJaVQIpKltL GxAVKBZePFsRUQkR aQdMdAYUElQaAgsB Am4bW1NeVFl7XGU7 bghPaBtcak9QXgdq T0pMXVMcUwUXBkVF fUIeWh91dQUIeX5x YEQsWXgNCEQudUVg Qk4ARHAHZDJodWlJ UxJFflAGdgZOLE1H b1B7GhFYa3VsNCMk FAgyOXU9MCtqYBhP SwcWJFkOQEENVhsx XR8DGzpnXUcEX3xp clQ8J1oVDE8NM0I0 cDMA X-Authentic-SMTP: 61633532353630.1039:706 X-AuthFastPath: 0 (Was 255) X-AuthSMTP-Origin: 52.5.185.120/25 X-AuthVirus-Status: No virus detected - but ensure you scan with your own anti-virus system. X-Spam-Status: No, score=-2.6 required=5.0 tests=BAYES_00,RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Subject: Re: [bitcoin-dev] Transaction Merging (bip125 relaxation) X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Wed, 24 Jan 2018 07:45:00 -0000 --WplhKdTI2c8ulnbP Content-Type: text/plain; charset=us-ascii Content-Disposition: inline Content-Transfer-Encoding: quoted-printable On Tue, Jan 23, 2018 at 10:49:34PM +0000, Gregory Maxwell via bitcoin-dev w= rote: > On Tue, Jan 23, 2018 at 10:19 PM, Rhavar via bitcoin-dev > wrote: > > Interesting. I didn't think about this before, but it seems like bip125= is > > rather incentive incompatible right now? If we're assuming a competitive > > mempool, it really doesn't seem generally rational to accept a replacem= ent > > transaction of a lower fee rate. >=20 > BIP125 replacement requires that the fee rate increases. The text of > the BIP document is written in a confusing way that doesn't make this > clear. In fact I considered only requiring an increase in fee rate, based on the theory that if absolute fee went down, the transaction must be smaller and = thus miners could overall earn more from the additional transactions they could = fit into their block. But to do that properly requires considering whether or n= ot that's actually true in the particular state the mempool as a whole happens= to be in, so I ditched that idea early on for the much simpler criteria of bot= h a feerate and absolute fee increase. --=20 https://petertodd.org 'peter'[:-1]@petertodd.org --WplhKdTI2c8ulnbP Content-Type: application/pgp-signature; name="signature.asc" Content-Description: Digital signature -----BEGIN PGP SIGNATURE----- iQEcBAEBCAAGBQJaaDlwAAoJECSBQD2l8JH7pv0H/3vXj49i5JQ5AVDsnjAmnkiC wtBOrQVg2o4ZXdXansOCu8ZwfR+Dk+5cPj8Q4rpEiwcoWP+Zx76WYF1iPq5wzgoU wCa1f2vDOzbUryPWy7bL21HAWpUbNe6eSi1YlXVq9I2Nne0n0u68vKsiBVoucnSi MnOiCwiuwrw+G44JqlyI78LEkJEuOU/MrJB4Gki9iribMBbae5RGaEYX0lBrINDv YFjlU3Xq8kvRik4gb+CWrZ23x/gI0B8abYlbcAXnfym6P/MBzpS0kNTyw2QbVRZh nkOZJgFpD1W/r0w91ZjJUSFnDGFtHT64/F/Oypf1ER+z1jy/wBVj+JGRWyhKkEQ= =F4Sj -----END PGP SIGNATURE----- --WplhKdTI2c8ulnbP--