Author: rhavar at protonmail.com 2018-02-12 17:30:04
Published on: 2018-02-12T17:30:04+00:00
In a discussion among bitcoin developers, Russell O'Connor proposed revisiting the replace-by-fee policy outlined in BIP 125. The current policy can make it difficult to fee bump with RBF if a transaction becomes pinned, such as when a low-fee-rate sweep of one's payment is created by a commercial service while the original payment remains unconfirmed. Even though the fee rate of the sweep is low, the absolute size of the fee can still be large, making it infeasible to RBF the original transaction. To address this issue, O'Connor proposes changing rules 3 and 4 of the BIP 125 policy, such that a replacement transaction must have a fee rate larger than the package fee rate of the root of the set of transactions it replaces and pay for replacing the original transactions at or above the rate set by the node's minimum relay fee setting. These changes would make transaction replacement more practical for today's services. Some people on the mailing list have been thinking about RBF policy for far longer than O'Connor has, so he acknowledges that his proposal may be naive. However, he hopes that it will start a conversation about addressing the problems with the current RBF policy.
Updated on: 2023-06-13T00:35:00.351167+00:00