From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from hemlock.osuosl.org (smtp2.osuosl.org [140.211.166.133]) by lists.linuxfoundation.org (Postfix) with ESMTP id 8A092C0051 for ; Fri, 21 Aug 2020 05:56:11 +0000 (UTC) Received: from localhost (localhost [127.0.0.1]) by hemlock.osuosl.org (Postfix) with ESMTP id 72ECB884E9 for ; Fri, 21 Aug 2020 05:56:11 +0000 (UTC) X-Virus-Scanned: amavisd-new at osuosl.org Received: from hemlock.osuosl.org ([127.0.0.1]) by localhost (.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) with ESMTP id j-U9gkd1DRIG for ; Fri, 21 Aug 2020 05:56:10 +0000 (UTC) X-Greylist: domain auto-whitelisted by SQLgrey-1.7.6 Received: from mail-io1-f41.google.com (mail-io1-f41.google.com [209.85.166.41]) by hemlock.osuosl.org (Postfix) with ESMTPS id C66358844C for ; Fri, 21 Aug 2020 05:56:10 +0000 (UTC) Received: by mail-io1-f41.google.com with SMTP id g13so650307ioo.9 for ; Thu, 20 Aug 2020 22:56:10 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20161025; h=mime-version:reply-to:from:date:message-id:subject:to; bh=/KQUDIJiKFlS2idrfSA4Ynr2pMG85aP6/Oou6oTarIU=; b=PpXykjvr2OSA9SIjPsxnvYzIHkZvueelOPDKFMyGFgFnPfpGHdmWLQvffLmXe6vIiM 8M+Qg1tbT/COkOpDCguSqIhqXBjNMwiXp3J7jSl0S17PJTh6GIku2oUVc9b4yVL7Z61q cyg6j+TqlL2mVuB/dOS1FIUTT5FapdKFPtoN8NA5mHtjDgg+N2lbl2hpc/2fGD//x/X1 4/M+28RHBUkjetB4/VLtAhJY8CxytBfw+EvRwhQGfEwHyC9u+AAzuOV6szuDi52rRk6P l+WHyUsB2u5xU2LCMvJKs6xT+YRNY2yWTM51Vpc4tphGdQbpkTRuMlWOc/dPnKWtS9/g 8ppQ== X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20161025; h=x-gm-message-state:mime-version:reply-to:from:date:message-id :subject:to; bh=/KQUDIJiKFlS2idrfSA4Ynr2pMG85aP6/Oou6oTarIU=; b=SKrmGjwx7kmh4Pe/zPjzkKdGOK7OODja/nLKAiTaV5bWRJ6M+YFv0yM+1zT9HLUgsR ykV1spS6THOeITY0MQhrEzhXjmsgVNlidz1arPTWmv5cPAhqTC9qQwaLUriGrgmY8SvF yip21Tp2DVJCDkgu4cx+/13x+fFiMhAFBhBL4q6+CCBA7dmVgZJr7o38Ewp8RWqtV+K0 tddXFjNZ0BK8PTaNMxUk744gH4c+8qfPvjloMTKI1OAKRzeGQcuKHH7iYNgTRiCREOdH Fmrq/VDOud39Sf56deYGXyvQHdKnPm9N/twKOs1QAqGMG8NXNjGZ4HHYM4mLFXdzqW9i yJNw== X-Gm-Message-State: AOAM533sNEK/hdyakKMcu2rmme2phuqL8LRWRjFxc+8OFAp/rCdYmbPo i7xME6qt13h+FUfOJ6fz4qrXwOozrHAfNlIDkhD9HjpUR5M= X-Google-Smtp-Source: ABdhPJxESvA29XXxDenOjyMDSSTz5s7E69OtszS82lQeqv1VL1B4ALF8ZhQWw8jl6H2DRl4Z+2XvpSL9SfVX/XhGWDw= X-Received: by 2002:a6b:8dcd:: with SMTP id p196mr1234442iod.58.1597989369688; Thu, 20 Aug 2020 22:56:09 -0700 (PDT) MIME-Version: 1.0 Reply-To: DKBryant@gmail.com From: Dan Bryant Date: Fri, 21 Aug 2020 00:55:59 -0500 Message-ID: To: Bitcoin Protocol Discussion Content-Type: text/plain; charset="UTF-8" X-Mailman-Approved-At: Fri, 21 Aug 2020 08:00:08 +0000 Subject: [bitcoin-dev] Time to lower minrelaytxfee ? X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.15 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Fri, 21 Aug 2020 05:56:11 -0000 It's been 5 years since minrealytxfee was lowered. At the time bitcoin was trading for $255 and it was agreed that the fee of 5000 sat/vkB was too high. It was lowered to 1000 sat/vkB. In regards to how much anti-DoS protection that provided, it comes out to $0.00255 / vkB in USD terms. To have parity with the last reduction, we would need to reduce minrealytxfee to 22 sat/vKB, though an even more conservative reduction to 100 or 50 sat/vKB would be welcome. With the growing adoption of LN, there is a need for ultra-low-fee on-chain TXNs. Having these queue and confirm overnight, or even waiting until the Sunday lull would still probably be welcome to many users. The fact that the mempool is going empty at least every week indicates that miners have not reached the floor of what they are willing to mine. About 2 years ago there was a PR (#13922) to try to make a reduction from 1000 to 200 sat/vkB. It was widely accepted but the submitter eventually closed it in favor of PR #13990. If minrelaytxfee is already parameterized and configurable in bitcoin.conf, how could it be detrimental to operation of a node to change the default? References: * https://github.com/bitcoin/bitcoin/commit/9e93640be6c49fa1505ba5c5df8c89210da5a6e4 * https://github.com/bitcoin/bitcoin/pull/13922 * https://github.com/bitcoin/bitcoin/pull/13990