Ross Nicoll [ARCHIVE] on Nostr: 📅 Original date posted:2015-05-09 📝 Original message:I think potential fee ...
📅 Original date posted:2015-05-09
📝 Original message:I think potential fee subsidies for cleaning up UTXO (and/or penalties
for creating more UTXO than you burn) are worth thinking about. As
Gavin's post ( gavinandresen.ninja/utxo-uhoh ) indicates, UTXO cost is
far higher than block storage, so charging differently for the in/out
mismatches should make good economic sense.
Ross
On 09/05/2015 20:16, Jim Phillips wrote:
> On Sat, May 9, 2015 at 2:06 PM, Pieter Wuille <pieter.wuille at gmail.com
> <mailto:pieter.wuille at gmail.com>> wrote:
>
> It's a very complex trade-off, which is hard to optimize for all
> use cases. Using more UTXOs requires larger transactions, and thus
> more fees in general.
>
> Unless the miner determines that the reduction in UTXO storage
> requirements is worth the lower fee. There's no protocol level
> enforcement of a fee as far as I understand it. It's enforced by the
> miners and their willingness to include a transaction in a block.
>
> In addition, it results in more linkage between coins/addresses
> used, so lower privacy.
>
> Not if you only select all the UTXOs from a single address. A wallet
> that is geared more towards privacy minded individuals may want to
> reduce the amount of address linkage, but a wallet geared towards the
> general masses probably won't have to worry so much about that.
>
> The only way you can guarantee an economical reason to keep the
> UTXO set small is by actually having a consensus rule that
> punishes increasing its size.
>
> There's an economical reason right now to keeping the UTXO set small.
> The smaller it is, the easier it is for the individual to run a full
> node. The easier it is to run a full node, the faster Bitcoin will
> spread to the masses. The faster it spreads to the masses, the more
> valuable it becomes.
>
>
>
> ------------------------------------------------------------------------------
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> Deep dive visibility with transaction tracing using APM Insight.
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>
>
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> Bitcoin-development at lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
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📝 Original message:I think potential fee subsidies for cleaning up UTXO (and/or penalties
for creating more UTXO than you burn) are worth thinking about. As
Gavin's post ( gavinandresen.ninja/utxo-uhoh ) indicates, UTXO cost is
far higher than block storage, so charging differently for the in/out
mismatches should make good economic sense.
Ross
On 09/05/2015 20:16, Jim Phillips wrote:
> On Sat, May 9, 2015 at 2:06 PM, Pieter Wuille <pieter.wuille at gmail.com
> <mailto:pieter.wuille at gmail.com>> wrote:
>
> It's a very complex trade-off, which is hard to optimize for all
> use cases. Using more UTXOs requires larger transactions, and thus
> more fees in general.
>
> Unless the miner determines that the reduction in UTXO storage
> requirements is worth the lower fee. There's no protocol level
> enforcement of a fee as far as I understand it. It's enforced by the
> miners and their willingness to include a transaction in a block.
>
> In addition, it results in more linkage between coins/addresses
> used, so lower privacy.
>
> Not if you only select all the UTXOs from a single address. A wallet
> that is geared more towards privacy minded individuals may want to
> reduce the amount of address linkage, but a wallet geared towards the
> general masses probably won't have to worry so much about that.
>
> The only way you can guarantee an economical reason to keep the
> UTXO set small is by actually having a consensus rule that
> punishes increasing its size.
>
> There's an economical reason right now to keeping the UTXO set small.
> The smaller it is, the easier it is for the individual to run a full
> node. The easier it is to run a full node, the faster Bitcoin will
> spread to the masses. The faster it spreads to the masses, the more
> valuable it becomes.
>
>
>
> ------------------------------------------------------------------------------
> One dashboard for servers and applications across Physical-Virtual-Cloud
> Widest out-of-the-box monitoring support with 50+ applications
> Performance metrics, stats and reports that give you Actionable Insights
> Deep dive visibility with transaction tracing using APM Insight.
> http://ad.doubleclick.net/ddm/clk/290420510;117567292;y
>
>
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development at lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
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