Published on: 2022-08-04T01:21:51+00:00
The discussion on the bitcoin-dev mailing list revolves around the possibility of changing the dust limit and the minimum transaction relay feerate. A member suggested removing the fixed dust limit and relying solely on the mempool size limit to determine what is considered dust. However, others pointed out that individual nodes adjusting their settings would not be effective without a network-wide change. While the current settings may be useful for certain situations, changing the defaults would achieve nothing for the majority of users.Peter Todd, a Bitcoin developer, proposed removing the fixed dust limit entirely and relying on the mempool size limit. He argued that this change could be made by nodes without requesting permission or modifying the source code. He also stated that lowering the dust limit would prepare the ecosystem for future conditions where fee revenue would be significant. However, some members raised concerns about potential adverse effects and the complexity involved in implementing this change.In another discussion on the bitcoin-dev mailing list, a user asked about the possibility of reducing the minimum relay transaction fee for Bitcoin transactions. It was noted that while this is not a consensus rule, it could be done with support from full node operators. However, some miners may be hesitant to lower profits by using a lower minrelaytxfee. The option of allowing near-zero transactions into a miner's mempool through the Child-Pays-For-Parent mechanism was also mentioned as a way to potentially mine more fees.Aaradhya Chauhan, a member of the Bitcoin-dev group, expressed the opinion that the current dust protection measure is too high and should be lowered slightly. She suggested halving the measure when prices double and keeping it constant at that point. Aaradhya believes that this change can be easily implemented with the support of full node operators. However, she acknowledged that a few miners may be reluctant to lower their profits by using a lower minrelaytxfee. She supports the Lightning Network but also emphasizes the importance of maintaining transaction affordability in the future. Aaradhya argues that those willing to wait in a queue should have the option for the same affordability for minimum fees as exists today.Overall, the discussions on the bitcoin-dev mailing list revolve around the potential changes to the dust limit and the minimum transaction relay feerate. While some argue for lowering these limits, others raise concerns about potential challenges and adverse effects. The economic benefits of reducing feerates for the bottom of the mempool are considered relatively small compared to the complexity involved.
Updated on: 2023-08-02T07:11:13.160298+00:00