Author: LORD HIS EXCELLENCY JAMES HRMH 2021-10-07 08:34:17
Published on: 2021-10-07T08:34:17+00:00
The email thread discusses the handling of 1c and 2c coins in an economy, with a focus on how it applies to Bitcoin. The traditional solution for rounding transaction values is not directly applicable to Bitcoin as the denominations available are effectively the utxo set, and there is no effective way to round transactions without accepting overpayments as valid. The email suggests that the protocol may avoid creating dust in change by sending the additional rounded amount that would otherwise be dust to the recipient. The email also notes that while multiple outputs in a transaction could complicate matters, it is effectively the same as rounding to 10c. The email proposes that there should be no restriction to the value of utxo's that are kept in one's own wallet as change can be created in any value. The wallet should avoid creating utxo's below the current dust limit at the time the transaction is created but cannot guarantee it. It should also avoid including utxo's that are more expensive to include than their value at the time a transaction is created. However, it may consider this valid for manual utxo selection since it is "my money" and can be spent as desired. The email argues that complaining about the dust set of utxo's slowing down the process of block validation during mining is irrelevant as every computerized business bears the cost of a database transaction. The actual answer to this genuine business concern of database speed is to build a faster database. The email notes that the Bitcoin protocol cannot speculate on the future but provides examples where the inclusion of what is today considered dust may not be ill-considered. The email concludes with contact information for Willtech and other projects. The disclaimer notes that the email does not constitute general advice and should be disregarded if misdelivered.
Updated on: 2023-06-15T00:47:51.882829+00:00