And prevent perfectly reasonable transfers of value
Such a transfer can only be reasonable when off-chain value is attached
to the coins. A rule like this is the embodiment of the philosophy that
the Bitcoin network is for onchain-economic transactions.
Parties could get around the rule by paying miners off-network, and that
would be an appropriate penalty for using non-onchain-economic transactions.
On 5/8/23 10:13, Michael Folkson via bitcoin-dev wrote:
> probably easier just to reject any transaction where the fee is
higher than the sum of the outputs
And prevent perfectly reasonable transfers of value and attempted
Lightning channel closes during fee spikes? If I *want* to close my
Lightning channel during a protracted fee spike where I have to pay an
onchain transaction fee greater than the amount I am receiving you
want to stop me doing that? You are impinging on a valid use case as
well as requiring a consensus rule change.
-- Michael Folkson
Email: michaelfolkson at protonmail.com <http://protonmail.com/>
GPG: A2CF5D71603C92010659818D2A75D601B23FEE0F
Learn about Bitcoin: https://www.youtube.com/@portofbitcoin
------- Original Message -------
On Monday, May 8th, 2023 at 13:58, Erik Aronesty via bitcoin-dev
<bitcoin-dev@lists.linuxfoundation.org> wrote:
probably easier just to reject any transaction where the fee is
higher than the sum of the outputs
On Mon, May 8, 2023, 7:55 AM Ali Sherief via bitcoin-dev
<bitcoin-dev@lists.linuxfoundation.org> wrote:
Hi guys,
I think everyone on this list knows what has happened to the
Bitcoin mempool during the past 96 hours. Due to side projects
such as BRC-20 having such a high volume, real bitcoin
transactions are being priced out and that is what is causing the
massive congestion that has arguable not been seen since December
2017. I do not count the March 2021 congestion because that was
only with 1-5sat/vbyte.
Such justifiably worthless ("worthless" is not even my word -
that's how its creator described them[1]) tokens threaten the
smooth and normal use of the Bitcoin network as a peer-to-pear
digital currency, as it was intended to be used as.
If the volume does not die down over the next few weeks, should
we take an action? The bitcoin network is a triumvirate of
developers, miners, and users. Considering that miners are
largely the entities at fault for allowing the system to be
abused like this, the harmony of Bitcoin transactions is being
disrupted right now. Although this community has a strong history
of not putting its fingers into pies unless absolutely necessary
- an example being during the block size wars and Segwit - should
similar action be taken now, in the form of i) BIPs and/or ii)
commits into the Bitcoin Core codebase, to curtail the loophole
in BIP 342 (which defines the validation rules for Taproot
scripts) which has allowed these unintended consequences?
An alternative would be to enforce this "censorship" at the node
level and introduce a run-time option to instantly prune all
non-standard Taproot transactions. This will be easier to
implement, but won't hit the road until minimum next release.
I know that some people will have their criticisms about this,
absolutists/libertarians/maximum-freedom advocates, which is
fine, but we need to find a solution for this that fits
everyone's common ground. We indirectly allowed this to happen,
which previously wasn't possible before. So we also have a
responsibility to do something to ensure that this kind of
congestion can never happen again using Taproot.
-Ali
---
[1]:
https://www.coindesk.com/consensus-magazine/2023/05/05/pump-the-brcs-the-promise-and-peril-of-bitcoin-backed-tokens/
<https://www.coindesk.com/consensus-magazine/2023/05/05/pump-the-brcs-the-promise-and-peril-of-bitcoin-backed-tokens/?outputType=amp>
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