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0 sats \ 7 replies \ @OT 3 Oct \ parent \ on: Sub 1s/vb transactions ideasfromtheedge
Yes, that's the way I see it.
Though there could be other less obvious things that it could have an effect on like sone extra compute or taking up bandwidth.
@murch pointed out one of the biggest effects:
I believe prior to this summer, most wallets implemented changes to fee rates in whole sat terms. So, if you wanted to fee bump your 1 sat/vB transaction, the wallet only let you choose 2 or more sats/vB.
As more wallets allow implement tooling for sub 1 sat/vB, you could conceivaly fee bump to 1.1 sats/vB.
This means miners may actually see a loss in revenue because fee rates may not escalate as quickly as they used to. (hopefully I'm recounting this correctly).
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Yes, good summary.
The
minRelayTxFee and incrementalRelayTxFee both express a minimum cost for relaying data across the network. It would be a bit odd to charge more for the first announcement of a transaction, but then make it cheaper to replace the transaction, or vice versa to make it cheap to make a first announcement and expensive to replace a transaction. So both mempool policies were lowered from 1 s/vB to 0.1 s/vB in Bitcoin Core 29.1 and the upcoming v30.0.reply
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Bitcoin Core 29.1 already makes up over 13% of the listening nodes according to Clark Moody’s dashboard:
As Laurent has recently demonstrated with his simulation, below 90% filters, almost all corresponding transactions reliably reach non-filtering listening nodes (which I suspect miners to be). So, at this point any listening nodes that want the low feerate transactions should be receiving them reliably before they appear in blocks.
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