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Measuring minrelaytxfee across the Bitcoin networkdelvingbitcoin.org/t/measuring-minrelaytxfee-across-the-bitcoin-network/1989
727 sats \ 5 comments \ @0xbitcoiner 5h bitcoin
by danielabrozzoni
I crawled the Bitcoin network to record the minimum relay fee advertised by reachable nodes through the FEEFILTER message.
The scan used a modified version of virtu’s p2p-crawler which connects to every node, waits up to three minutes for a FEEFILTER message, and records the result. If no FEEFILTER message is received within the timeout the node is listed as “No FEEFILTER sent.”
Only nodes that accept inbound connections are included, and the results are based only on what each node advertises in its FEEFILTER message. I don’t think nodes have a reason to fake this field, but I suppose it’s possible, and I did not perform additional checks such as sending test transactions or monitoring relays.
Two full scans were run on 10/09 and 15/09.
...read more at delvingbitcoin.org
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111 sats \ 4 replies \ @Scoresby 4h

Reported minimum relay fees

MinRelayFeeNodes 10/09Nodes 15/09
1 sat/vB25,125 (89.0%)24,695 (86.5%)
No FEEFILTER sent2,135 (7.6%)2,331 (8.2%)
0.1 sat/vB569 (2.0%)1105 (3.9%)
9170997184 (0.3%)73 (0.3%)
.001 sat/vB81 (0.3%)91 (0.3%)
I'm surprised that so much of the network (~87%) is still at 1 sat/vB, especially considering that we are seeing almost 40% of all transactions having a sub-1 sat/vB feerate.
source

4% of nodes having a more permissive policy leads to sub-1 sat/vB transactions being 40% of all transactions.

Footnotes

  1. @0xB10C thinks these nodes were doing IBD or were not caught up to the chain tip in some way. ↩
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102 sats \ 2 replies \ @0xbitcoiner OP 4h
Not sure if I’m mixing it up with something else, but wasn’t the option to set fees below 1 sat only made available from a certain version of Bitcoin Core? Any idea how much miners are making just from transaction fees? Maybe it’s not that much. Or maybe the ones who don’t accept fees under 1 are just filtering out dust.
Didn’t know the article author was on SN. Props to you, @daniela, great work!
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33 sats \ 1 reply \ @Scoresby 4h
Core 29 lowered the default, but I believe it was always a config option to lower it.
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0 sats \ 0 replies \ @0xbitcoiner OP 4h
Someone dropped some stats here on node versions, but I can’t find it now. If I remember right, not many were on v29. Could be that, or maybe I’m just oversimplifying?
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0 sats \ 0 replies \ @nitter 4h
https://xcancel.com/OrangeSurfBTC/status/1968293577362145485
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