Author: shymaa arafat 2022-02-13 05:19:04
Published on: 2022-02-13T05:19:04+00:00
There are alarming statistics related to Bitcoin addresses with balances of less than 1000 Satoshis, which make up approximately 7% of the total number of UTXOs. Additionally, there are over 8 million addresses with balances of less than $1 and over 13.5 million addresses with balances of less than 0.0001 BTC. BitInfoCharts has provided a link for dust analysis that shows the first address contains over 1.7 million dust UTXOs. Shymaa Arafat suggests incentivizing people to find a low-fee time to collect these small UTXOs into one of at least $5 or $1. In the past four days, the number of addresses holding less than 1000 Satoshis increased by around 2,000 each day, while the number of addresses holding less than $4.1 increased by 4,000 to 8,000 per day. It is important to note that the number of addresses does not necessarily reflect the number of UTXOs. There are approximately 0.6 million non-standard and burned UTXOs, which can be misleading on the status of the value they hold. Shymaa suggests archiving these UTXOs to secondary storage at an extra cost to get them back, along with the aforementioned small UTXOs. However, Pieter Wuille argues against deleting or archiving these UTXOs, as it would be considered theft and potentially destroy useful funds people own. He suggests using the amount as a heuristic for what to keep and how long, and investigating the use of two levels of storage (disk and in-RAM cache). While it may be feasible to implement archiving as a standardness rule, it deviates from economically rational behavior and would be controversial as a consensus rule.
Updated on: 2023-06-03T07:27:18.803512+00:00