From: Greg Sanders <gsanders87@gmail.com>
To: DKBryant@gmail.com,
Bitcoin Protocol Discussion
<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Time to lower minrelaytxfee ?
Date: Fri, 21 Aug 2020 12:57:32 -0400 [thread overview]
Message-ID: <CAB3F3DuRN2ZzubrWYE6xTF78tU2kO1=XonHf_JFdfRTHYHfgjg@mail.gmail.com> (raw)
In-Reply-To: <CAAUFj113g15EUXvdQG1caLBar6HakLRag6URA9Q-y52OZEmhzQ@mail.gmail.com>
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No strong opinions but:
Denial of service attacks can become 5x cheaper.
If you don't thoroughly test
https://github.com/bitcoin/bitcoin/issues/16499 these
changes you can end up with bugs that can cause issues on p2p network.
On Fri, Aug 21, 2020 at 4:00 AM Dan Bryant via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:
> 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
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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prev parent reply other threads:[~2020-08-21 16:57 UTC|newest]
Thread overview: 3+ messages / expand[flat|nested] mbox.gz Atom feed top
2020-08-21 5:55 [bitcoin-dev] Time to lower minrelaytxfee ? Dan Bryant
2020-08-21 16:36 ` Nadav Ivgi
2020-08-21 16:57 ` Greg Sanders [this message]
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