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Date: Mon, 28 Oct 2013 07:17:50 +0000
Message-ID: <CAPaL=UVnfVkU_mbQKE2gg7RXBv+B13A1eHU4VpiHkBdmfea80g@mail.gmail.com>
From: John Dillon <john.dillon892@googlemail.com>
To: Gavin Andresen <gavinandresen@gmail.com>, Peter Todd <pete@petertodd.org>
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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Making fee estimation better
Precedence: list

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256

On Sat, Oct 26, 2013 at 12:25 AM, Gavin Andresen
<gavinandresen@gmail.com> wrote:
> I feel like there is a lot of "in the weeds" discussion here about
> theoretical, what-if-this-and-that-happens-in-the-future scenarios.
>
> I would just like to point out (again) that this is not intended to be Th=
e
> One True Solution For Transaction Fees And Transaction Prioritization. If
> you've got a better mechanism for estimating fees, fantastic! If it turns
> out estimates are often-enough wrong to be a problem and you've got a
> solution for that, fantastic!

This discussion seems to be a lot of hot air over a simple observation that
estimates are imperfect and always will be. I do not understand you vehemen=
t
opposition the notion that a backup is a good thing except in the context t=
hat
replacement to change fees is halfway to profit-seeking replacement by fee.


Peter Todd:

You did a fair bit of leg work for replace-by-fee. Seems to me that
replace-for-fee will help prep infrastructure to eventual replace-by-fee us=
age,
while avoiding some of the politics around zero-conf transactions.

Go dust off your code and make it happen. I want to see a mempool
implementation similar to what you did for me on replace-for-fee, and I
understand much of the code is written in any case. This time I also want t=
o
see a increasetxfee RPC command, and erasewallettx RPC command to deal with
duplicates. (I know touching the wallet code is scary) Having all will enab=
le
usage, and I can imagine getting pools to use this will be easy enough.
(eligius?)

Here is your 4BTC bounty. In the event I am not around Gregory Maxwell can =
also
adjudicate. If both you and him feel someone else deserves it, by all means
send them the funds

bitcoind decodescript
522102d527466a144aac2030cd16d8be3d91231af26a95c2f8fc345a0ea0e8d53ac3914104d=
34775baab521d7ba2bd43997312d5f663633484ae1a4d84246866b7088297715a049e2288ae=
16f168809d36e2da1162f03412bf23aa5f949f235eb2e71417834104f005d39733ec09a1efa=
0cf8dcf3df50691e22c2374ff9a96d1d9ecb98a1e866c9f558a9fa1ba8ef0bbbad01f396768=
c0cb2dda9924dc0aaee1481604a8bd9ce453ae
{
    "asm" : "2 02d527466a144aac2030cd16d8be3d91231af26a95c2f8fc345a0ea0e8d5=
3ac391
04d34775baab521d7ba2bd43997312d5f663633484ae1a4d84246866b7088297715a049e228=
8ae16f168809d36e2da1162f03412bf23aa5f949f235eb2e7141783
04f005d39733ec09a1efa0cf8dcf3df50691e22c2374ff9a96d1d9ecb98a1e866c9f558a9fa=
1ba8ef0bbbad01f396768c0cb2dda9924dc0aaee1481604a8bd9ce4
3 OP_CHECKMULTISIG",
    "reqSigs" : 2,
    "type" : "multisig",
    "addresses" : [
        "1L9p6QiWs2nfinyF4CnbqysWijMvvcsnxe",
        "1FCYd7j4CThTMzts78rh6iQJLBRGPW9fWv",
        "1GMaxweLLbo8mdXvnnC19Wt2wigiYUKgEB"
    ],
    "p2sh" : "3BST1dPxvgMGL3d9GPCHvTyZNsJ7YKTVPo"
}

(I realized right after my Tor payment protocol bounty that I would need so=
me
bit of uniqueness like a bounty-specific pubkey to disambiguate multiple su=
ch
bounties!)
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