diff options
author | Light <bitcoin-dev@lightco.in> | 2025-03-08 17:13:56 -0500 |
---|---|---|
committer | bitcoindev <bitcoindev@googlegroups.com> | 2025-03-08 14:23:41 -0800 |
commit | 4a4466a9fdca2d28ae45b841f979b188e976eafd (patch) | |
tree | c1b49fd8415c566525d424c3cb66ac3b393e3300 | |
parent | 18fdc9698f5e611eb972ceb2d72a477d3e72686b (diff) | |
download | pi-bitcoindev-4a4466a9fdca2d28ae45b841f979b188e976eafd.tar.gz pi-bitcoindev-4a4466a9fdca2d28ae45b841f979b188e976eafd.zip |
Re: [bitcoindev] Proposal: Unlocking Dust UTXOs as Miner Transaction Fees
-rw-r--r-- | cd/b168b4a2479bf68998358b93b11bc314836fb3 | 304 |
1 files changed, 304 insertions, 0 deletions
diff --git a/cd/b168b4a2479bf68998358b93b11bc314836fb3 b/cd/b168b4a2479bf68998358b93b11bc314836fb3 new file mode 100644 index 000000000..a97f585e0 --- /dev/null +++ b/cd/b168b4a2479bf68998358b93b11bc314836fb3 @@ -0,0 +1,304 @@ +Delivery-date: Sat, 08 Mar 2025 14:23:41 -0800 +Received: from mail-oo1-f56.google.com ([209.85.161.56]) + by mail.fairlystable.org with esmtps (TLS1.3) tls TLS_ECDHE_RSA_WITH_AES_128_GCM_SHA256 + (Exim 4.94.2) + (envelope-from <bitcoindev+bncBAABBY4GWO7AMGQEUYDW43Y@googlegroups.com>) + id 1tr2a4-0003VR-N4 + for bitcoindev@gnusha.org; Sat, 08 Mar 2025 14:23:41 -0800 +Received: by mail-oo1-f56.google.com with SMTP id 006d021491bc7-5fd07df2f45sf1069014eaf.3 + for <bitcoindev@gnusha.org>; Sat, 08 Mar 2025 14:23:40 -0800 (PST) +ARC-Seal: i=2; a=rsa-sha256; t=1741472615; cv=pass; + d=google.com; s=arc-20240605; + b=FDiPNoK/mvgEanVN9Iy7GA18ck9vDlQqotlNh5bg/wvB5whVq5vkly4JiR59fZxez+ + gP9tcck3fUDKQohnhDDi0Ue8D5Hatdi4fZ5TU/KVrVAfW/MzK7NK/sQBSQ6OfqKIe1aK + kpIFCHSeuIJ4gQqkmsYGwgngsMaUi/y2Ghn3rFmz1hzLKivAXFRGGyFEd2X5A5rpMr1G + zpgI94FSjQmE2XhuGAF6BkARyqjcPtg7/j0CEwgUTQ6n+LAIJH3jNLyuqmd9bn8yb8v4 + SbYjid+Ccchzui+vzmKHr9zzdFTdt3LrYf+RjK0lVF1IzkT9pnGkEOMF3Dl0xky3Gy+/ + Shxg== +ARC-Message-Signature: i=2; a=rsa-sha256; c=relaxed/relaxed; d=google.com; s=arc-20240605; + h=list-unsubscribe:list-subscribe:list-archive:list-help:list-post + :list-id:mailing-list:precedence:content-transfer-encoding:subject + :references:in-reply-to:message-id:to:from:date:mime-version + :feedback-id:sender:dkim-signature; + bh=m7HjDeRfAqKu7VJbbmxJ+0kM6BvOqnw+K/U42FLkuEI=; + fh=YL13JCSo4YQKwThisZ4n6cjV9G729bZeH9/2aJ7c28s=; + b=IQPBbM6sijIlkxBNmHP4XBUo/b6m2G09y3ba3tGLBtCZnbXo0ABVVkZpIZ87riC0tP + xB6CVobV6d3F2hj6MJEtJ2VjqgvlhD2BTqhD0VMDaQ2i8PVJH3cp8w5mdtidTCobSej+ + reJfg3UHFkB6Rf+wHcVB/iOB2Ls2cVeDNXn5X9x4nlGLCttU4desWMNzvG39uEknZBD6 + p2Cs/srKRrmAO6a00sQlvAEgbsRtoI5/fTPqNmN4FHyl8vQFN0NS+dMpwsm+ec7gjguJ + sPpYipEatzYGGlSdI9VL6aSnIB53gkcKTHHEh5ayX+iBAKxfWdE4z6BKgPBlOamw3Rqf + WB7g==; + darn=gnusha.org +ARC-Authentication-Results: i=2; gmr-mx.google.com; + dkim=pass header.i=@lightco.in header.s=fm3 header.b=Bj6XT3zO; + dkim=pass header.i=@messagingengine.com header.s=fm1 header.b=jQtaD9qk; + spf=pass (google.com: domain of bitcoin-dev@lightco.in designates 103.168.172.146 as permitted sender) smtp.mailfrom=bitcoin-dev@lightco.in +DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; + d=googlegroups.com; s=20230601; t=1741472615; x=1742077415; darn=gnusha.org; + h=list-unsubscribe:list-subscribe:list-archive:list-help:list-post + :list-id:mailing-list:precedence:x-original-authentication-results + :x-original-sender:content-transfer-encoding:subject:references + :in-reply-to:message-id:to:from:date:mime-version:feedback-id:sender + :from:to:cc:subject:date:message-id:reply-to; + bh=m7HjDeRfAqKu7VJbbmxJ+0kM6BvOqnw+K/U42FLkuEI=; + b=kMaTT57xN8g0h13bLoXrZ9LXGiD5JxTvEdeIkEwtfE4nfY/R4oriUX3UaIJjFy/rqP + HEvthQgbQ6YerkQbLFfJjK03+uPcsp1UY3KlJ28nDoEpdaNECnRAndJLHxNzQSV9p3JH + b3GDYk0YdiXNBJWxb3VlbN4AEMH4Y1ERN0YxkxubnIMCCgYAIs2qSiCrQMaVXj5yUXce + MA/I2+BTsv3cPwioziFNrP0HnFb9xCACwa0YUDf5RcOJR3lnGKiXTgPhZ6k1jVDOVHHi + J9v7vv9/Wrw1Hly/OXQkl7c9P3qzlVZBlLbsooxxHO82HMObyAGGZo1WcvfNb/xT/FXM + CfrQ== +X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; + d=1e100.net; s=20230601; t=1741472615; x=1742077415; + h=list-unsubscribe:list-subscribe:list-archive:list-help:list-post + :list-id:mailing-list:precedence:x-original-authentication-results + :x-original-sender:content-transfer-encoding:subject:references + :in-reply-to:message-id:to:from:date:mime-version:feedback-id + :x-beenthere:x-gm-message-state:sender:from:to:cc:subject:date + :message-id:reply-to; + bh=m7HjDeRfAqKu7VJbbmxJ+0kM6BvOqnw+K/U42FLkuEI=; + b=JOEFaJthxrqsEMks2s3++tsa3wVAYnqlH11gDev/gUqMRfJ6S03Bab+VS3H2Q64+Ir + wuJ59MwyZho4LO0Q7sOG/q0PfB0pBI1TwV8XlHlVZhwO/CDpDWchUB87Y4ay78QI50+D + hyPd3vd4BPRY3sDMRVkq3OcAbXjGaG7A2kpkM0c/AVXy+tkxl24IP/edTzGYEfqEl8wV + VgOEYTnMTXGbL33gGEaBFrB58bGOZQocTnR3J7nczjUiyIj2BCA+iXykXXo/2x15oub9 + iYsr5DtQqm2+QVpUAKjUPAv3fKu549lF14g6N8WSG/YX9Vunb38rfxcEiRZlvbpMPN2Q + H24w== +Sender: bitcoindev@googlegroups.com +X-Forwarded-Encrypted: i=2; AJvYcCX8TluTNBMnt+TWFJaPzVhzyjS4PIdYjjW86T/JlkdwoKx5HuUzzJvjgYL6QW5TVh0yC8SQburKyrpk@gnusha.org +X-Gm-Message-State: AOJu0YzeG7zG3+0MDA58e8GY82jdodHM3PmFThj2GAMqdlK9P4QUfQik + FX4AALNGEcdwC1YKJeluBBsQY0uzCV6Q/JnJwDOlsijEtmisMqOY +X-Google-Smtp-Source: AGHT+IFx2BwJtckk5d5Gv5JEcG4k/YeK/Cw98GrRdFJcEOPW0Q/9mq+7yx3XpumiOgpFXrK0tG3tAg== +X-Received: by 2002:a05:6820:3090:b0:5fe:a12d:46cc with SMTP id 006d021491bc7-6004ab034e8mr4131770eaf.4.1741472614657; + Sat, 08 Mar 2025 14:23:34 -0800 (PST) +X-BeenThere: bitcoindev@googlegroups.com; h=Adn5yVElllGRfnCZahcrIaOQ++Khabcp/rArPqsGNdciftMIWg== +Received: by 2002:a4a:d396:0:b0:5fc:fe35:8d1b with SMTP id 006d021491bc7-6003ea8ceaels743035eaf.1.-pod-prod-04-us; + Sat, 08 Mar 2025 14:23:31 -0800 (PST) +X-Received: by 2002:a05:6808:13d4:b0:3f6:7ed5:9010 with SMTP id 5614622812f47-3f697b1a8eemr4567410b6e.5.1741472611547; + Sat, 08 Mar 2025 14:23:31 -0800 (PST) +Received: by 2002:a05:6808:424b:b0:3f7:ad49:8310 with SMTP id 5614622812f47-3f7ad58c802msb6e; + Sat, 8 Mar 2025 14:14:19 -0800 (PST) +X-Received: by 2002:a05:6a21:1:b0:1f3:39d3:6b6d with SMTP id adf61e73a8af0-1f544afa280mr15901838637.18.1741472058662; + Sat, 08 Mar 2025 14:14:18 -0800 (PST) +ARC-Seal: i=1; a=rsa-sha256; t=1741472058; cv=none; + d=google.com; s=arc-20240605; + b=IWcvue5mnd0EQzBGuqdntdDo9gfZDegQ+ZE1oryiyvrA/YCjex/71FPBuQ+M7YVvQ6 + ev7q77dNVKBQPd0qOl3vq1i/Ny4k5HABPu6vwz3B8UP6hK6CXUgvmZnxlL5+rde8p+h5 + sO/9i+fcCp2SAP3SmQ8t2M6Nuymf03zwwXu3NTCl35lIldCdhXnv4pD+BQuxtXXnUA/0 + ekw1S6powS5K4fhp8GEU2Ttm+1cKr7mzr3ilzGuX2ZhWJz9tk16C8Cwms5foJ6hVgkcQ + tnlth741F328fWHREHlZsINn8mNrZU1seq8mQeHowfn2+0tbcM9UXmbYS3OppiDSEzYN + 2Wlg== +ARC-Message-Signature: i=1; a=rsa-sha256; c=relaxed/relaxed; d=google.com; s=arc-20240605; + h=content-transfer-encoding:subject:references:in-reply-to:message-id + :to:from:date:mime-version:feedback-id:dkim-signature:dkim-signature; + bh=WIq6N9H/b1Pt9+Qk+kbiYlpsDxVYVv9OUYTAYkSC0nk=; + fh=VcGcg+Zjs9gw1uDcHbxsAILhBAcecnbJzZRdxgKVDIc=; + b=AOIHexXHdooQHOK/AWcc/fCbHuJ8Pr9lddsRwBRGCR3zbwHH+TjrUgbta7u/REHIBA + QFFl2iOTO+ZFkm5nkRXmcpXC+90au6NmKfZWvHaGIM9LsJw9KuBaKa1+/oDsFocfsvWn + /D4MfnW9hLVPZ/yDLoVcqtZyWYjIVHbavlFhJlkyNKy3UrMrjaWBwRcMYJjEgR6cdZhd + jbj6NvF1HAkLdFD76rfc/t0cMTSLD/l4RHIaIwTR71OTv+66ZddZy9JvrVeeyBGPuM9q + FdTTg02Y33Xem1eg6CiZfa8lttD4XSHXgHo44BQHruAKs9dZrtnJFV0pjE4w8ZsiuzSw + ok8A==; + dara=google.com +ARC-Authentication-Results: i=1; gmr-mx.google.com; + dkim=pass header.i=@lightco.in header.s=fm3 header.b=Bj6XT3zO; + dkim=pass header.i=@messagingengine.com header.s=fm1 header.b=jQtaD9qk; + spf=pass (google.com: domain of bitcoin-dev@lightco.in designates 103.168.172.146 as permitted sender) smtp.mailfrom=bitcoin-dev@lightco.in +Received: from fout-a3-smtp.messagingengine.com (fout-a3-smtp.messagingengine.com. [103.168.172.146]) + by gmr-mx.google.com with ESMTPS id 41be03b00d2f7-af281089d8esi291449a12.2.2025.03.08.14.14.18 + for <bitcoindev@googlegroups.com> + (version=TLS1_3 cipher=TLS_AES_256_GCM_SHA384 bits=256/256); + Sat, 08 Mar 2025 14:14:18 -0800 (PST) +Received-SPF: pass (google.com: domain of bitcoin-dev@lightco.in designates 103.168.172.146 as permitted sender) client-ip=103.168.172.146; +Received: from phl-compute-09.internal (phl-compute-09.phl.internal [10.202.2.49]) + by mailfout.phl.internal (Postfix) with ESMTP id 8830B13826AA + for <bitcoindev@googlegroups.com>; Sat, 8 Mar 2025 17:14:17 -0500 (EST) +Received: from phl-imap-04 ([10.202.2.82]) + by phl-compute-09.internal (MEProxy); Sat, 08 Mar 2025 17:14:17 -0500 +X-ME-Sender: <xms:OcHMZ9m4MWG7BDC6znNn4uQypUEkFAjxbFBYNndbLco9arulbJKgNg> + <xme:OcHMZ43GQOwmEScc0ypRWb_H5magqbOyAg8IAfmMaX-ShakOOksHZfRCEnjt7sHTe + zI2hGsnFgtg0cPRgEY> +X-ME-Proxy-Cause: gggruggvucftvghtrhhoucdtuddrgeefvddrtddtgdduudegjeefucetufdoteggodetrf + dotffvucfrrhhofhhilhgvmecuhfgrshhtofgrihhlpdggtfgfnhhsuhgsshgtrhhisggv + pdfurfetoffkrfgpnffqhgenuceurghilhhouhhtmecufedttdenucgoufhushhpvggtth + ffohhmrghinhculdegledmnecujfgurhepofggfffhvffkjghfufgtgfesthejredtredt + tdenucfhrhhomhepnfhighhhthcuoegsihhttghoihhnqdguvghvsehlihhghhhttghord + hinheqnecuggftrfgrthhtvghrnhepveeuhfekgeffudekgeffgeeiheefvefgfffgtdej + jeduhfekudevheelgeeuteeunecuffhomhgrihhnpehgihhthhhusgdrtghomhdpuhhnlh + hotghkihhnghdqughushhtqdhuthigohhsqdgrshdqthhrrghnshgrtghtihhonhdqfhgv + vghsrdhmugdpshgrthhoshhhihhnohhtvggsohhokhdrtghomhdpghhoohhglhgvrdgtoh + hmnecuvehluhhsthgvrhfuihiivgeptdenucfrrghrrghmpehmrghilhhfrhhomhepsghi + thgtohhinhdquggvvheslhhighhhthgtohdrihhnpdhnsggprhgtphhtthhopedupdhmoh + guvgepshhmthhpohhuthdprhgtphhtthhopegsihhttghoihhnuggvvhesghhoohhglhgv + ghhrohhuphhsrdgtohhm +X-ME-Proxy: <xmx:OcHMZzqQUxFoDhpW49d4e_i0vqm_Fj8jLh30VvzibPYM3SB5Oz8lcQ> + <xmx:OcHMZ9nwg_qj5JSrefS2OPZMv9NkKb2TEg0wGy2AIO-GzaBO8X4LIQ> + <xmx:OcHMZ71G4KbP2NHwGiqFYlKK0w454AvtovMnQMokRMRrbUzkctvoug> + <xmx:OcHMZ8uILipNAEXACR2EA5cCS9JRC6NhLFQ4yui-u-Ftag2FT8XmIw> + <xmx:OcHMZ4-6CCmL2ggWBaVJ9ZPW4VkW-npGS64Ix37cfOJVo_tEjQekVHH8> +Feedback-ID: ic4c14615:Fastmail +Received: by mailuser.phl.internal (Postfix, from userid 501) + id 4E28E2E60088; Sat, 8 Mar 2025 17:14:17 -0500 (EST) +X-Mailer: MessagingEngine.com Webmail Interface +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 +Content-Type: text/plain; charset="UTF-8" +Content-Transfer-Encoding: quoted-printable +X-Original-Sender: bitcoin-dev@lightco.in +X-Original-Authentication-Results: gmr-mx.google.com; dkim=pass + header.i=@lightco.in header.s=fm3 header.b=Bj6XT3zO; dkim=pass + header.i=@messagingengine.com header.s=fm1 header.b=jQtaD9qk; spf=pass + (google.com: domain of bitcoin-dev@lightco.in designates 103.168.172.146 as + permitted sender) smtp.mailfrom=bitcoin-dev@lightco.in +Precedence: list +Mailing-list: list bitcoindev@googlegroups.com; contact bitcoindev+owners@googlegroups.com +List-ID: <bitcoindev.googlegroups.com> +X-Google-Group-Id: 786775582512 +List-Post: <https://groups.google.com/group/bitcoindev/post>, <mailto:bitcoindev@googlegroups.com> +List-Help: <https://groups.google.com/support/>, <mailto:bitcoindev+help@googlegroups.com> +List-Archive: <https://groups.google.com/group/bitcoindev +List-Subscribe: <https://groups.google.com/group/bitcoindev/subscribe>, <mailto:bitcoindev+subscribe@googlegroups.com> +List-Unsubscribe: <mailto:googlegroups-manage+786775582512+unsubscribe@googlegroups.com>, + <https://groups.google.com/group/bitcoindev/subscribe> +X-Spam-Score: -0.8 (/) + +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 +> <https://groups.google.com/d/msgid/bitcoindev/62b454f8-56be-4eae-ba3e-57c= +53d493f3dn%40googlegroups.com?utm_medium=3Demail&utm_source=3Dfooter>. + +--=20 +You received this message because you are subscribed to the Google Groups "= +Bitcoin Development Mailing List" group. +To unsubscribe from this group and stop receiving emails from it, send an e= +mail to bitcoindev+unsubscribe@googlegroups.com. +To view this discussion visit https://groups.google.com/d/msgid/bitcoindev/= +5674c8ec-a38c-487d-9736-bf3b99178335%40app.fastmail.com. + |