Author: LORD HIS EXCELLENCY JAMES HRMH 2021-08-30 03:31:56
Published on: 2021-08-30T03:31:56+00:00
King James HRMH of the Great British Empire has sent an email discussing the value of dust in Bitcoin transactions, speculating that in the future, as the value of Bitcoin increases, dust may become more valuable and even inheritable. He questions whether there may be a future case where 1 satoshi could cover the mining cost of any transaction despite the reduction in sat/B for including additional transactions. The current reason for excluding dust is because it costs more to the transaction to add the dust than its value, but this may not always be the case. King James HRMH suggests that the wealthy may have millions of dust transactions that are inheritable. Meanwhile, Shymaa M. Arafat suggests separating dust and unspendable UTXOs at the real UTXO storage level until a mitigation consolidating all dust UTXOs is found. Billy Tetrud suggests adding something to the consensus rules to decrease the vbytes for a transaction that consumes dust outputs such that the value of removing them from the system is approximately equal to the amount that the fee could be made lower for such transactions. Finally, ZmnSCPxj notes that the existence of a dust limit encourages L2 protocols to have similar rules, where outputs below the dust limit are just given over as fees to miners.
Updated on: 2023-06-03T05:17:13.222494+00:00