pull down to refresh
0 sats \ 5 replies \ @Murch 12 May 2023 \ parent \ on: Smoothing out the Mempool bitcoin
The first two words make me think you’re talking about the blockweight limit, but then the rest makes it sound like you want to change how transactions are selected into a block.
No, not a block weight limit, just a probabalistic selection that doesn't create an absolute zero chance of processing below a threshold that was not so long ago not dust.
reply
That doesn’t make sense. There is no way for you to know what other nodes have in their mempools, so there is also no way of forcing them to not optimize for the highest total fees when they select transactions into their block templates.
reply
Well, I just think that sequence should matter. Transactions below the dust threshold should be selected if they get too old. It would slightly reduce the total fees collected, but it could be way under 0.1% and still prevent the worst case of someone paying a little under median fee and then that fee staying over double for a sustained period.
Just to let old stale transactions get processed, it's common decency I think. How would you deal with it if it was a physical queue of humans? Eventually you have to come bring them water and stuff, right?
reply
I don’t think a queue is a good metaphor for the mempool. Transactions are bidding on a scarce resource, blockspace. Naturally, miners are selling to the highest bidder. While miners can certainly decide to occasionally give away the scarce resource they produce, it’s neither practical to rely on that, nor incentive compatible.
BTW, “Dust” is a term to refer to low-value transaction outputs.
reply
You are right. I'm bitching about this because someone made a transaction on my behalf, even you check it has several layers of CFPP but then they just abandoned it. I can't do anything whatsoever to persuade a miner to include the transaction except a transaction accelerator which costs more than the whole transaction is worth by several factors.
This is why I'm never using phoenix or acinq stuff for anything valuable ever again. They have left me in limbo by not finishing the job and getting that transaction through before it has aged a week, which is today. No matter what. Phoenix wallet has confiscated nearly 10% of my income over a piddling few dollars of fees that nobody at acinq can be bothered to manually check and clear.
reply