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authorLight <bitcoin-dev@lightco.in>2025-03-08 17:13:56 -0500
committerbitcoindev <bitcoindev@googlegroups.com>2025-03-08 14:23:41 -0800
commit4a4466a9fdca2d28ae45b841f979b188e976eafd (patch)
treec1b49fd8415c566525d424c3cb66ac3b393e3300
parent18fdc9698f5e611eb972ceb2d72a477d3e72686b (diff)
downloadpi-bitcoindev-4a4466a9fdca2d28ae45b841f979b188e976eafd.tar.gz
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Re: [bitcoindev] Proposal: Unlocking Dust UTXOs as Miner Transaction Fees
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+MIME-Version: 1.0
+Date: Sat, 08 Mar 2025 17:13:56 -0500
+From: Light <bitcoin-dev@lightco.in>
+To: bitcoindev@googlegroups.com
+Message-Id: <5674c8ec-a38c-487d-9736-bf3b99178335@app.fastmail.com>
+In-Reply-To: <62b454f8-56be-4eae-ba3e-57c53d493f3dn@googlegroups.com>
+References: <62b454f8-56be-4eae-ba3e-57c53d493f3dn@googlegroups.com>
+Subject: Re: [bitcoindev] Proposal: Unlocking Dust UTXOs as Miner Transaction Fees
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+
+Hi Nighttime,
+
+Several questions come to mind:
+
+1. Why fix the limit at 546 sats? Why not allow any UTXO to be spent this w=
+ay?
+
+2. What about "dust" UTXOs owned by scripts rather than keys? e.g. multisig
+
+3. The size of this OP_RETURN output could be a barrier, both technical and=
+ economic:
+
+Technical: Based on the metadata contained in this output, this may be larg=
+er than the current 80-byte OP_RETURN standardness limit. Is that correct? =
+If so, does this imply a need to increase this standardness limit, or requi=
+re an assumption that the user will find their own way to circumvent this l=
+imit? e.g. using Libre Relay
+
+Economic: Depending on the size of this OP_RETURN output and the current ma=
+rket fee rate, the value of the dust may still be uneconomical for the mine=
+r to claim. For example, if the OP_RETURN output is 100 vB and the current =
+fee rate is 6 s/vB then a 546 sat dust output will not be economical for th=
+e miner to include in their block.
+
+4. Given the above considerations, I wonder how this proposal is an improve=
+ment over the status quo at all. Does this method of spending a UTXO via OP=
+_RETURN actually save any onchain bytes relative to "traditional spending"?=
+ And even if it does result in onchain byte savings in some or all cases, i=
+s it really worth all of the effort of a soft fork and wallet updates etc t=
+o allow them to become spendable this way if economic realities could make =
+them uneconomical to spend anyways should we permanently transition to a pa=
+radigm of sufficiently high fee rates?
+
+Regards,
+
+Light
+
+On Sat, Mar 8, 2025, at 1:23 PM, Nighttime Satoshi wrote:
+> Dear fellow Bitcoin developers,
+>
+> I'm excited to share a proposal addressing a long-standing Bitcoin=20
+> challenge: economically unviable dust UTXOs.
+> As Bitcoin's value and transaction fees increase, more UTXOs become=20
+> effectively unspendable because the cost to move them exceeds their=20
+> value. This creates a growing dust horizon - small amounts of BTC=20
+> permanently stranded from circulation, weakening fungibility and=20
+> bloating the UTXO set.
+>
+> I'm proposing a solution that enables users to voluntarily designate=20
+> their dust UTXOs as transaction fees through cryptographic=20
+> authorization, allowing miners to claim them directly without requiring=
+=20
+> traditional spending. This is a win-win-win solution for users=20
+> (reclaiming otherwise stranded value), miners (additional fee income),=20
+> and the network (reduced UTXO set size).
+>
+> Key Features: 1. *Entirely Voluntary* - Users must explicitly authorize=
+=20
+> any dust UTXO transfer with cryptographic signatures proving ownership
+> 2. *Implementation as Soft Fork* - Backward-compatible with=20
+> non-upgraded nodes
+> 3. *Simple Security Model* - Uses familiar signature verification=20
+> without exposing private keys
+> 4. *Clearly Defined Dust Threshold* - Fixed at 546 satoshis, matching=20
+> Bitcoin Core's existing dust limit
+> 5. *Race Condition Prevention* - Comprehensive safeguards against=20
+> double-spend and miner race conditions
+> 6. *Minimal Consensus Impact* - Carefully designed to introduce=20
+> minimal complexity to Bitcoin's validation logic
+> Economic Benefits: 1. *UTXO Set Cleanup* - Removing millions of dust=20
+> UTXOs could significantly reduce the UTXO set size
+> 2. *Enhanced Fungibility* - Provides a pathway for stranded satoshis=20
+> to rejoin economic circulation
+> 3. *Long-term Miner Incentive* - Creates an additional fee source as=20
+> block rewards diminish
+> 4. *Complementary to Existing Solutions* - Works alongside batching,=20
+> consolidation, and Lightning Network
+> Technical Implementation:
+> The proposal uses a special OP_RETURN output format in transactions to=20
+> designate dust UTXOs for miner claiming:
+>
+> OP_RETURN <DUST_FEE_PREFIX> <dust_utxo_txid> <dust_utxo_vout> <signature>
+>
+> Miners can claim these UTXOs in their coinbase transaction if and only=20
+> if the corresponding designation transaction is included in the same=20
+> block.
+>
+> Historical Context & Contributions:
+> It seems that previous discussions on dust UTXOs have considered many=20
+> approaches, including forced reclamation. This proposal avoids those=20
+> controversies by requiring explicit user authorization while still=20
+> providing an economically rational path for dust cleanup.
+>
+> You can read the full proposal draft here:=20
+> https://github.com/satoshinotebook/BIPs/blob/main/unlocking-dust-utxos-as=
+-transaction-fees.md
+>
+> I'd appreciate feedback on:
+>
+> 1. Technical feasibility of the soft fork implementation
+> 2. Security considerations and potential edge cases
+> 3. Economic incentive alignment
+> 4. User experience concerns for wallet implementations
+> Thank you for any feedback! I believe it offers a practical solution to=
+=20
+> a growing challenge that will only become more significant as Bitcoin=20
+> continues to mature and evolve.
+>
+> With respect,
+>
+> Nighttime Satoshi
+>
+> nighttimesatoshi@gmail.com
+>
+> https://satoshinotebook.com
+>
+>
+> --=20
+> You received this message because you are subscribed to the Google=20
+> Groups "Bitcoin Development Mailing List" group.
+> To unsubscribe from this group and stop receiving emails from it, send=20
+> an email to bitcoindev+unsubscribe@googlegroups.com.
+> To view this discussion visit=20
+> https://groups.google.com/d/msgid/bitcoindev/62b454f8-56be-4eae-ba3e-57c5=
+3d493f3dn%40googlegroups.com=20
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+
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