Author: David A. Harding 2022-11-11 03:00:58
Published on: 2022-11-11T03:00:58+00:00
In a bitcoin-dev mailing list, Peter Todd proposed the pre-signing of transactions with nLockTime set in the future as a way to ensure the cancellation or mining of transactions after N blocks. By spending one or more inputs of the transaction with a high enough fee, it would replace any attempts to exploit Rule #3 pinning, with Bitcoin Core's package limits helping in the process. However, this implies a floor on the funds involved in a contract and a minimum contract amount that participants need to consider, especially for contracts not meant to settle immediately. In worst-case scenarios, where transactions paying even 100 sat/vb won't be promptly mined, the minimum contract amount can reach up to $1,700 USD, which Dave finds sub-optimal.
Updated on: 2023-06-16T02:57:35.364150+00:00