Security problems with relying on transaction fees for security



Summary:

The conversation between Peter Todd and Russell O'Connor on the Bitcoin-dev mailing list discusses the issue of using bribes to incentivize miners to build on a particular block. While it was suggested that anyone-can-spend outputs could be used as bribes, Todd argues that this would lead to centralization pressure, as smaller miners would need to pay larger bribes than larger miners. Additionally, he notes that a new type of transaction would need to be added to make the bribes only valid in a specific block, which would require a signature committing to the non-segwit part of the coinbase outputs. Ultimately, the discussion suggests that leaving transactions in the mempool may be the only viable option for incentivizing mining.


Updated on: 2023-06-15T22:50:22.201511+00:00