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Subject: Re: [bitcoindev] Call for reconfiguration of nodes to relay
transactions with fee-rates below 1 sat/vbyte
Date: Fri, 31 Jan 2025 13:54:35 +0100
References: <CAMHHROxVo_7ZRFy+nq_2YzyeYNO1ijR_r7d89bmBWv4f4wb9=g@mail.gmail.com>
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If you want to go this route, you may also want to set -incrementalrelayfee=
. That way you can bump 0.001 =E1=B9=A9/vB to 0.002 =E1=B9=A9/vB, otherwise=
you'll have to go straight to 1.001 =E1=B9=A9/vB.
In addition, you would need to convince at least one miner to configure a m=
atching -blockmintxfee, otherwise these low fee transactions remain stuck i=
n your mempool until expiration (or CPFP).
Some background: https://bitcoin.stackexchange.com/a/120782/4948
A downside to consider is that it makes any potential mempool DoS attack 10=
00x cheaper*, but I don't know if there are any to worry about.
Comparison with historical minimum fee rates can be tricky, especially beca=
use the lightning network wasn't around yet. There's now an increased incen=
tive to knock out a full node if it's connected to a lightning node. So eve=
n if there's no vulnerability to attack today, it's probably good to keep f=
ees somewhat high to ensure new attacks are expensive.
- Sjors
* =3D assuming the attack scales linear with the amount of transaction data=
, and not e.g. quadratic or exponential
> Op 31 jan 2025, om 09:49 heeft Greg Tonoski <gregtonoski@gmail.com> het v=
olgende geschreven:
>=20
> The minrelaytxfee default value of 1000/kvB (1 sat/vbyte) has been set
> in Bitcoin nodes since 2013 or earlier. In 2013, 1000 sats were priced
> at $0.01, today it is about 100 times more. Wouldn't you like to
> consider adjusting your node configuration and lower the hurdle,
> perhaps? I would suggest setting minrelaytxfee=3D0.00000001 (which
> translates to 0.001 sat/vbyte) as a rule of thumb. The value could be
> set in a bitcoin.conf file. There is negligible number of such
> reconfigured nodes relaying transactions with fee-rates below 1
> sat/vbyte currently.
>=20
> There is the intention to unblock transactions with fee-rate below 1
> sat/vbyte in Bitcoin. Probably consolidation and multisig types of
> transactions would benefit the most.
--=20
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