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| author | Greg Tonoski <gregtonoski@gmail.com> | 2024-01-13 16:04:12 +0100 |
|---|---|---|
| committer | bitcoindev <bitcoindev@gnusha.org> | 2024-01-13 15:04:01 +0000 |
| commit | 74bdafcb212d0cbfbdea524f4fe74356e6fc779e (patch) | |
| tree | 908884fcb026ebcf565a7a39373b56be575af5ba | |
| parent | c02297726b4bddd66d789b996bd719145fbfd109 (diff) | |
| download | pi-bitcoindev-74bdafcb212d0cbfbdea524f4fe74356e6fc779e.tar.gz pi-bitcoindev-74bdafcb212d0cbfbdea524f4fe74356e6fc779e.zip | |
Re: [bitcoin-dev] [BUG]: Bitcoin blockspace price discrimination put simple transactions at disadvantage
| -rw-r--r-- | 57/bcd3e1020954cc0873f707279808dc5a1950cc | 145 |
1 files changed, 145 insertions, 0 deletions
diff --git a/57/bcd3e1020954cc0873f707279808dc5a1950cc b/57/bcd3e1020954cc0873f707279808dc5a1950cc new file mode 100644 index 000000000..de8bb29e6 --- /dev/null +++ b/57/bcd3e1020954cc0873f707279808dc5a1950cc @@ -0,0 +1,145 @@ +Return-Path: <gregtonoski@gmail.com> +Received: from smtp4.osuosl.org (smtp4.osuosl.org [IPv6:2605:bc80:3010::137]) + by lists.linuxfoundation.org (Postfix) with ESMTP id 2F646C0037 + for <bitcoin-dev@lists.linuxfoundation.org>; + Sat, 13 Jan 2024 15:04:01 +0000 (UTC) +Received: from localhost (localhost [127.0.0.1]) + by smtp4.osuosl.org (Postfix) with ESMTP id EB2F041E72 + for <bitcoin-dev@lists.linuxfoundation.org>; + Sat, 13 Jan 2024 15:04:00 +0000 (UTC) +DKIM-Filter: OpenDKIM Filter v2.11.0 smtp4.osuosl.org EB2F041E72 +Authentication-Results: smtp4.osuosl.org; + dkim=pass (2048-bit key) header.d=gmail.com header.i=@gmail.com + header.a=rsa-sha256 header.s=20230601 header.b=kpaHV7OA +X-Virus-Scanned: amavisd-new at osuosl.org +X-Spam-Flag: NO +X-Spam-Score: -2.099 +X-Spam-Level: +X-Spam-Status: No, score=-2.099 tagged_above=-999 required=5 + tests=[BAYES_00=-1.9, DKIM_SIGNED=0.1, DKIM_VALID=-0.1, + DKIM_VALID_AU=-0.1, DKIM_VALID_EF=-0.1, FREEMAIL_FROM=0.001, + RCVD_IN_DNSWL_NONE=-0.0001, SPF_HELO_NONE=0.001, SPF_PASS=-0.001] + autolearn=ham autolearn_force=no +Received: from smtp4.osuosl.org ([127.0.0.1]) + by localhost (smtp4.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) + with ESMTP id wt4283f2Z5Ti + for <bitcoin-dev@lists.linuxfoundation.org>; 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Sat, 13 + Jan 2024 07:03:58 -0800 (PST) +MIME-Version: 1.0 +References: <CAMHHROxsKuqzVsU90srQBNDj4redB11uqB2JxmDK=G1LDw9_HA@mail.gmail.com> + <CAFC_Vt4pjZCMAZSi32Y3z-F3rrnnXVR4pvF5T4Ojrdb=Lsu97A@mail.gmail.com> +In-Reply-To: <CAFC_Vt4pjZCMAZSi32Y3z-F3rrnnXVR4pvF5T4Ojrdb=Lsu97A@mail.gmail.com> +From: Greg Tonoski <gregtonoski@gmail.com> +Date: Sat, 13 Jan 2024 16:04:12 +0100 +Message-ID: <CAMHHROxBqLrBCT-y4Va5=xe6JUqb=FPyEq2PJ7=JrpqmHOJd8Q@mail.gmail.com> +To: Nagaev Boris <bnagaev@gmail.com> +Content-Type: text/plain; charset="UTF-8" +Content-Transfer-Encoding: quoted-printable +X-Mailman-Approved-At: Sat, 13 Jan 2024 15:58:17 +0000 +Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org> +Subject: Re: [bitcoin-dev] [BUG]: Bitcoin blockspace price discrimination + put simple transactions at disadvantage +X-BeenThere: bitcoin-dev@lists.linuxfoundation.org +X-Mailman-Version: 2.1.15 +Precedence: list +List-Id: Bitcoin Protocol Discussion <bitcoin-dev.lists.linuxfoundation.org> +List-Unsubscribe: <https://lists.linuxfoundation.org/mailman/options/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=unsubscribe> +List-Archive: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/> +List-Post: <mailto:bitcoin-dev@lists.linuxfoundation.org> +List-Help: <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=help> +List-Subscribe: <https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=subscribe> +X-List-Received-Date: Sat, 13 Jan 2024 15:04:01 -0000 + +On Wed, Dec 27, 2023 at 8:06=E2=80=AFPM Nagaev Boris <bnagaev@gmail.com> wr= +ote: +> +> On Wed, Dec 27, 2023 at 2:26=E2=80=AFPM Greg Tonoski via bitcoin-dev +> <bitcoin-dev@lists.linuxfoundation.org> wrote: +> > As a result, there are incentives structure distorted and critical +> > inefficiencies/vulnerabilities (e.g. misallocation of block space, +> > blockspace value destruction, disincentivized simple transaction, +> > centralization around complex transactions originators). +> > +> > Price of blockspace should be the same for any data (1 byte =3D 1 byte, +> > irrespectively of location inside or outside of witness), e.g. 205/205 +> > and 767/767 bytes in the examples above. +> +> Witness data does not contribute to utxo set. The discount on storing +> data in witness creates an incentive to store data exactly in the +> witness and not in the parts contributing to utxo set. +> +> $ du -sh blocks/ chainstate/ +> 569G blocks/ +> 9.3G chainstate/ +> +> Witness data is part of the "blocks" directory which is not +> latency-critical and can be stored on a slow and cheap storage device. +> Directory "chainstate" contains the data needed to validate new +> transactions and should fit into a fast storage device otherwise +> initial block download takes weeks. It is important to maintain the +> incentives structure, resulting in a small chainstate. + +I think that the argument "discount on storing data in witness creates +an incentive to store data exactly in the witness (...)" is +fallacious. The "witness discount" does not affect the cost of data +storage in a Bitcoin node. What the "witness discount" affects is the +priority of a transaction pending confirmation only. For example, a +SegWit type of transaction of size of 1MB is prioritized (by miners) +over a non-SegWit transaction of the same size and fee. "Segwit +discount" benefits bloated transactions and puts simple transactions +at disadvantage (demonstrated at +"https://gregtonoski.github.io/bitcoin/segwit-mispricing/comparison-of-cost= +s.html" +and "https://gregtonoski.github.io/bitcoin/segwit-mispricing/Comparison_of_= +4MB_and_1.33MB_blocks_in_Bitcoin.pdf"). + +The Bitcoin fee is not charged per UTXO set size. It is not charged +from a node operator. Nodes are up and running independently of +Bitcoin fees. + +Any relation between UTXO set size and discount would be artificial +and inefficient, wouldn't it? + |