Published on: 2014-03-29T20:10:00+00:00
In March 2014, a discussion took place on the Bitcoin-development mailing list regarding the handling of dust deposits in a multisig wallet. Dust deposits are small amounts of bitcoin that are not economically viable to spend due to high transaction fees. These deposits were received as part of an advertising campaign for the Olympics. Justus Ranvier initiated the conversation, seeking advice on how to clean up the unspent transaction output (UTXO) set without compromising the security of the multisig wallet.One concern raised by Ranvier was the possibility of the scripts including large values of n, which represents the number of signatures required to authorize a transaction from the wallet. The thread primarily focuses on the use of the NONE|ANYONECANPAY transaction type. This transaction type allows anyone to add inputs to a transaction without requiring their signature. By utilizing this transaction type, it becomes possible to combine the dust outputs into a single transaction that can be spent by a miner who includes a fee that makes it economically viable.Various suggestions were put forward during the discussion. One contributor recommended using a tool like Pycoin to manually craft the transaction. Another proposed the idea of creating a custom client that would automatically handle dust inputs using NONE|ANYONECANPAY transactions.Overall, this email thread provides insights into the technical challenges associated with dealing with dust deposits in a multisig wallet. It highlights the importance of keeping the UTXO set clean for the overall health of the Bitcoin network. Additionally, the context mentions the use of email encryption for online privacy and provides a link for further information on implementing this measure. The attachments included in the email consist of a PGP-key and a PGP-signature.
Updated on: 2023-08-01T08:30:02.096296+00:00