Received: from sog-mx-3.v43.ch3.sourceforge.com ([172.29.43.193] helo=mx.sourceforge.net) by sfs-ml-3.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1YpSWH-0000NU-Nk for bitcoin-development@lists.sourceforge.net; Tue, 05 May 2015 02:23:37 +0000 Received-SPF: pass (sog-mx-3.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.212.169 as permitted sender) client-ip=209.85.212.169; envelope-from=kgreenek@gmail.com; helo=mail-wi0-f169.google.com; Received: from mail-wi0-f169.google.com ([209.85.212.169]) by sog-mx-3.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1YpSWG-00022c-1U for bitcoin-development@lists.sourceforge.net; Tue, 05 May 2015 02:23:37 +0000 Received: by widdi4 with SMTP id di4so129311716wid.0 for ; Mon, 04 May 2015 19:23:30 -0700 (PDT) X-Received: by 10.194.90.15 with SMTP id bs15mr47009086wjb.22.1430792609997; Mon, 04 May 2015 19:23:29 -0700 (PDT) MIME-Version: 1.0 Received: by 10.27.50.65 with HTTP; Mon, 4 May 2015 19:23:09 -0700 (PDT) In-Reply-To: <20150504043601.GA14728@savin.petertodd.org> References: <20150212064719.GA6563@savin.petertodd.org> <20150504043601.GA14728@savin.petertodd.org> From: Kevin Greene Date: Mon, 4 May 2015 19:23:09 -0700 Message-ID: To: Peter Todd Content-Type: multipart/alternative; boundary=047d7bfd027044292605154c5d8a X-Spam-Score: -0.6 (/) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider (kgreenek[at]gmail.com) -0.0 SPF_PASS SPF: sender matches SPF record 1.0 HTML_MESSAGE BODY: HTML included in message -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's domain 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature X-Headers-End: 1YpSWG-00022c-1U Cc: Bitcoin Dev Subject: Re: [Bitcoin-development] New release of replace-by-fee for Bitcoin Core v0.10.1 X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Tue, 05 May 2015 02:23:37 -0000 --047d7bfd027044292605154c5d8a Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: quoted-printable I feel compelled to re-share Mike Hearn's counter-argument *against * replace-by-fee: https://medium.com/@octskyward/replace-by-fee-43edd9a1dd6d Please carefully consider the effects of replace-by-fee before applying Peter's patch. On Sun, May 3, 2015 at 9:36 PM, Peter Todd wrote: > My replace-by-fee patch is now available for the v0.10.1 release: > > https://github.com/petertodd/bitcoin/tree/replace-by-fee-v0.10.1 > > No new features in this version; this is simply a rebase for the Bitcoin > Core v0.10.1 release. (there weren't even any merge conflicts) As with > the Bitcoin Core v0.10.1, it's recommended to upgrade. > > > The following text is the copied verbatim from the previous release: > > What's replace-by-fee? > ---------------------- > > Currently most Bitcoin nodes accept the first transaction they see > spending an output to the mempool; all later transactions are rejected. > Replace-by-fee changes this behavior to accept the transaction paying > the highest fee, both absolutely, and in terms of fee-per-KB. Replaced > children are also considered - a chain of transactions is only replaced > if the replacement has a higher fee than the sum of all replaced > transactions. > > Doing this aligns standard node behavior with miner incentives: earn the > most amount of money per block. It also makes for a more efficient > transaction fee marketplace, as transactions that are "stuck" due to bad > fee estimates can be "unstuck" by double-spending them with higher > paying versions of themselves. With scorched-earth techniques=E2=81=B5 it= gives > a path to making zeroconf transactions economically secure by relying on > economic incentives, rather than "honesty" and alturism, in the same way > Bitcoin mining itself relies on incentives rather than "honesty" and > alturism. > > Finally for miners adopting replace-by-fee avoids the development of an > ecosystem that relies heavily on large miners punishing smaller ones for > misbehavior, as seen in Harding's proposal=E2=81=B6 that miners collectiv= ely 51% > attack miners who include doublespends in their blocks - an unavoidable > consequence of imperfect p2p networking in a decentralized system - or > even Hearn's proposal=E2=81=B7 that a majority of miners be able to vote = to > confiscate the earnings of the minority and redistribute them at will. > > > Installation > ------------ > > Once you've compiled the replace-by-fee-v0.10.1 branch just run your > node normally. With -debug logging enabled, you'll see messages like the > following in your ~/.bitcoin/debug.log indicating your node is replacing > transactions with higher-fee paying double-spends: > > 2015-02-12 05:45:20 replacing tx > ca07cc2a5eaf55ab13be7ed7d7526cb9d303086f116127608e455122263f93ea with > c23973c08d71cdadf3a47bae45566053d364e77d21747ae7a1b66bf1dffe80ea for > 0.00798 BTC additional fees, -1033 delta bytes > > Additionally you can tell if you are connected to other replace-by-fee > nodes, or Bitcoin XT nodes, by examining the service bits advertised by > your peers: > > $ bitcoin-cli getpeerinfo | grep services | egrep > '((0000000000000003)|(0000000004000001))' > "services" : "0000000000000003", > "services" : "0000000004000001", > "services" : "0000000004000001", > "services" : "0000000000000003", > "services" : "0000000004000001", > "services" : "0000000004000001", > "services" : "0000000000000003", > "services" : "0000000000000003", > > Replace-by-fee nodes advertise service bit 26 from the experimental use > range; Bitcoin XT nodes advertise service bit 1 for their getutxos > support. The code sets aside a certain number of outgoing and incoming > slots just for double-spend relaying nodes, so as long as everything is > working you're node should be connected to like-minded nodes a within 30 > minutes or so of starting up. > > If you *don't* want to advertise the fact that you are running a > replace-by-fee node, just checkout a slightly earlier commit in git; the > actual mempool changes are separate from the preferential peering > commits. You can then connect directly to a replace-by-fee node using > the -addnode command line flag. > > 1) https://github.com/bitcoinxt/bitcoinxt > 2) https://github.com/bitcoin/bitcoin/pull/3883 > 3) https://github.com/bitcoin/bitcoin/pull/3883#issuecomment-45543370 > 4) https://github.com/luke-jr/bitcoin/tree/0.10.x-ljrP > 5) > http://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/m= sg05211.html > 6) > http://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg= 06970.html > 7) > http://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/m= sg04972.html > > -- > 'peter'[:-1]@petertodd.org > 0000000000000000059a3dd65f0e5ffb8fdf316d6f31921fefcf0ef726120be9 > > > -------------------------------------------------------------------------= ----- > One dashboard for servers and applications across Physical-Virtual-Cloud > Widest out-of-the-box monitoring support with 50+ applications > Performance metrics, stats and reports that give you Actionable Insights > Deep dive visibility with transaction tracing using APM Insight. > http://ad.doubleclick.net/ddm/clk/290420510;117567292;y > _______________________________________________ > Bitcoin-development mailing list > Bitcoin-development@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/bitcoin-development > > --047d7bfd027044292605154c5d8a Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
I feel compelled to re-share Mike Hearn's counter-argument agains= t replace-by-fee:
https://medium.com/@octskyward/replace-by-fee-43edd9a1dd= 6d

Plea= se carefully consider the effects of replace-by-fee before applying Peter&#= 39;s patch.

On Sun, May 3, 2015 at 9:36 PM, Peter Todd <pete@petertodd.org= > wrote:
My replace-by-fee patc= h is now available for the v0.10.1 release:

=C2=A0 =C2=A0 https://github.com/petertodd/bitcoin/tree= /replace-by-fee-v0.10.1

No new features in this version; this is simply a rebase for the Bitcoin Core v0.10.1 release. (there weren't even any merge conflicts) As with<= br> the Bitcoin Core v0.10.1, it's recommended to upgrade.


The following text is the copied verbatim from the previous release:

What's replace-by-fee?
----------------------

Currently most Bitcoin nodes accept the first transaction they see
spending an output to the mempool; all later transactions are rejected.
Replace-by-fee changes this behavior to accept the transaction paying
the highest fee, both absolutely, and in terms of fee-per-KB. Replaced
children are also considered - a chain of transactions is only replaced
if the replacement has a higher fee than the sum of all replaced
transactions.

Doing this aligns standard node behavior with miner incentives: earn the most amount of money per block. It also makes for a more efficient
transaction fee marketplace, as transactions that are "stuck" due= to bad
fee estimates can be "unstuck" by double-spending them with highe= r
paying versions of themselves. With scorched-earth techniques=E2=81=B5 it g= ives
a path to making zeroconf transactions economically secure by relying on economic incentives, rather than "honesty" and alturism, in the s= ame way
Bitcoin mining itself relies on incentives rather than "honesty" = and
alturism.

Finally for miners adopting replace-by-fee avoids the development of an
ecosystem that relies heavily on large miners punishing smaller ones for misbehavior, as seen in Harding's proposal=E2=81=B6 that miners collect= ively 51%
attack miners who include doublespends in their blocks - an unavoidable
consequence of imperfect p2p networking in a decentralized system - or
even Hearn's proposal=E2=81=B7 that a majority of miners be able to vot= e to
confiscate the earnings of the minority and redistribute them at will.


Installation
------------

Once you've compiled the replace-by-fee-v0.10.1 branch just run your node normally. With -debug logging enabled, you'll see messages like th= e
following in your ~/.bitcoin/debug.log indicating your node is replacing transactions with higher-fee paying double-spends:

=C2=A0 =C2=A0 2015-02-12 05:45:20 replacing tx ca07cc2a5eaf55ab13be7ed7d752= 6cb9d303086f116127608e455122263f93ea with c23973c08d71cdadf3a47bae45566053d= 364e77d21747ae7a1b66bf1dffe80ea for 0.00798 BTC additional fees, -1033 delt= a bytes

Additionally you can tell if you are connected to other replace-by-fee
nodes, or Bitcoin XT nodes, by examining the service bits advertised by
your peers:

=C2=A0 =C2=A0 $ bitcoin-cli getpeerinfo | grep services | egrep '((0000= 000000000003)|(0000000004000001))'
=C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 "services" : "0000= 000000000003",
=C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 "services" : "0000= 000004000001",
=C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 "services" : "0000= 000004000001",
=C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 "services" : "0000= 000000000003",
=C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 "services" : "0000= 000004000001",
=C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 "services" : "0000= 000004000001",
=C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 "services" : "0000= 000000000003",
=C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 =C2=A0 "services" : "0000= 000000000003",

Replace-by-fee nodes advertise service bit 26 from the experimental use
range; Bitcoin XT nodes advertise service bit 1 for their getutxos
support. The code sets aside a certain number of outgoing and incoming
slots just for double-spend relaying nodes, so as long as everything is
working you're node should be connected to like-minded nodes a within 3= 0
minutes or so of starting up.

If you *don't* want to advertise the fact that you are running a
replace-by-fee node, just checkout a slightly earlier commit in git; the actual mempool changes are separate from the preferential peering
commits. You can then connect directly to a replace-by-fee node using
the -addnode command line flag.

1) htt= ps://github.com/bitcoinxt/bitcoinxt
2) https://github.com/bitcoin/bitcoin/pull/3883
3) https://github.com/bitcoin/bitcoin/pull/3883#issue= comment-45543370
4) https://github.com/luke-jr/bitcoin/tree/0.10.x-ljrP
5) http://www.mail-archive.com/bit= coin-development%40lists.sourceforge.net/msg05211.html
6) http://www.mail-archive.com/bitco= in-development@lists.sourceforge.net/msg06970.html
7) http://www.mail-archive.com/bit= coin-development%40lists.sourceforge.net/msg04972.html

--
'peter'[:-1]@pet= ertodd.org
0000000000000000059a3dd65f0e5ffb8fdf316d6f31921fefcf0ef726120be9

---------------------------------------------------------= ---------------------
One dashboard for servers and applications across Physical-Virtual-Cloud Widest out-of-the-box monitoring support with 50+ applications
Performance metrics, stats and reports that give you Actionable Insights Deep dive visibility with transaction tracing using APM Insight.
http://ad.doubleclick.net/ddm/clk/290420510;117567292;y
= _______________________________________________
Bitcoin-development mailing list
Bitcoin-development@lists.sourceforge.net
https://lists.sourceforge.net/lists/listinfo/bitcoin-de= velopment


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