public inbox for bitcoindev@googlegroups.com
 help / color / mirror / Atom feed
From: Gavin Andresen <gavinandresen@gmail.com>
To: Alex Morcos <morcos@gmail.com>
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Reworking the policy estimation code (fee estimates)
Date: Tue, 28 Oct 2014 10:58:36 -0400	[thread overview]
Message-ID: <CABsx9T2ET_Guoa8J-9irjwOo7vN+9Y3TyEUhdDBWxaYKV1J95w@mail.gmail.com> (raw)
In-Reply-To: <CAPWm=eX0MMBOPvugETxq+pyDzZ00xc90hZAJe8qgg4Shftm-9w@mail.gmail.com>

[-- Attachment #1: Type: text/plain, Size: 1105 bytes --]

On Tue, Oct 28, 2014 at 10:30 AM, Alex Morcos <morcos@gmail.com> wrote:
>
> Do you think it would make sense to make that 90% number an argument to
> rpc call?  For instance there could be a default (I would use 80%) but then
> you could specify if you required a different certainty.  It wouldn't
> require any code changes and might make it easier for people to build more
> complicated logic on top of it.
>

RE: 80% versus 90% :  I think a default of 80% will get us a lot of "the
fee estimation logic is broken, I want my transactions to confirm quick and
a lot of them aren't confirming for 2 or 3 blocks."

RE: RPC argument:  I'm reluctant to give too many 'knobs' for the RPC
interface. I think the default percentage makes sense as a
command-line/bitcoin.conf option; I can imagine services that want to save
on fees running with -estimatefeethreshold=0.5  (or
-estimatefeethreshold=0.95 if as-fast-as-possible confirmations are
needed). Setting both the number of confirmations and the estimation
threshold on a transaction-by-transaction basis seems like overkill to me.

-- 
--
Gavin Andresen

[-- Attachment #2: Type: text/html, Size: 1507 bytes --]

  parent reply	other threads:[~2014-10-28 14:58 UTC|newest]

Thread overview: 9+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2014-10-27 19:33 [Bitcoin-development] Reworking the policy estimation code (fee estimates) Alex Morcos
2014-10-28  9:55 ` Mike Hearn
2014-10-28 12:12   ` Alex Morcos
2014-10-28 13:59 ` Gavin Andresen
2014-10-28 14:30   ` Alex Morcos
2014-10-28 14:55     ` Alex Morcos
2014-10-28 14:58     ` Gavin Andresen [this message]
2014-10-28 15:39       ` Alex Morcos
2014-10-29 20:08 ` Peter Todd

Reply instructions:

You may reply publicly to this message via plain-text email
using any one of the following methods:

* Save the following mbox file, import it into your mail client,
  and reply-to-all from there: mbox

  Avoid top-posting and favor interleaved quoting:
  https://en.wikipedia.org/wiki/Posting_style#Interleaved_style

* Reply using the --to, --cc, and --in-reply-to
  switches of git-send-email(1):

  git send-email \
    --in-reply-to=CABsx9T2ET_Guoa8J-9irjwOo7vN+9Y3TyEUhdDBWxaYKV1J95w@mail.gmail.com \
    --to=gavinandresen@gmail.com \
    --cc=bitcoin-development@lists.sourceforge.net \
    --cc=morcos@gmail.com \
    /path/to/YOUR_REPLY

  https://kernel.org/pub/software/scm/git/docs/git-send-email.html

* If your mail client supports setting the In-Reply-To header
  via mailto: links, try the mailto: link
Be sure your reply has a Subject: header at the top and a blank line before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox