📅 Original date posted:2015-06-10
📝 Original message:The other complication is that this will tend to be a lagging indicator
based on network congestion from the last time you connected. If we assume
that transactions are being dropped in an unpredictable way when blocks are
full, knowing the network congestion *right now* is critical, and even then
you just have to hope that someone who wants that space more than you do
doesn't show up after you disconnect.
Aaron Voisine
co-founder and CEO
breadwallet.com
On Wed, Jun 10, 2015 at 1:26 PM, Mike Hearn <mike at plan99.net> wrote:
> I described an alternative way for SPV wallets to learn about fees some
> time ago. It requires a new transaction version that embeds output values
> into the signed data. Then an upgrade to the P2P protocol to send UTXO data
> along with transactions when they are relayed.
>
> The idea is that the wallet sets a Bloom filter with an FP rate that
> ensures it will see some random subset of all transactions being broadcast
> on the network, and with the extra data, it can calculate the fee paid.
> Once a transaction broadcast is observed the wallet includes that tx hash
> in its next Bloom filter, thus it can see which block the tx confirmed in.
> By measuring the amount of time that passed between a broadcast and it
> appearing in a block, it can calculate its own tables of fee paid:time
> taken.
>
> This has the advantage that you don't have to trust miners to publish data
> accurately. However it requires some protocol upgrades and of course, a lot
> of new code in SPV wallets.
>
> The way Bitcoin Wallet for Android handles fees currently is to just
> update a hard coded value every so often.
>
>
> ------------------------------------------------------------------------------
>
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development at lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>
>
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Aaron Voisine [ARCHIVE] /
npub18g…knkzl
2023-06-07 15:37:19
in reply to nevent1q…yscu
Author Public Key
npub18gjvug29c4yg46lmplq38e75gg6wn5mn8taytckcsr4jt8p74h3s5knkzlPublished at
2023-06-07 15:37:19Event JSON
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"content": "📅 Original date posted:2015-06-10\n📝 Original message:The other complication is that this will tend to be a lagging indicator\nbased on network congestion from the last time you connected. If we assume\nthat transactions are being dropped in an unpredictable way when blocks are\nfull, knowing the network congestion *right now* is critical, and even then\nyou just have to hope that someone who wants that space more than you do\ndoesn't show up after you disconnect.\n\n\nAaron Voisine\nco-founder and CEO\nbreadwallet.com\n\nOn Wed, Jun 10, 2015 at 1:26 PM, Mike Hearn \u003cmike at plan99.net\u003e wrote:\n\n\u003e I described an alternative way for SPV wallets to learn about fees some\n\u003e time ago. It requires a new transaction version that embeds output values\n\u003e into the signed data. Then an upgrade to the P2P protocol to send UTXO data\n\u003e along with transactions when they are relayed.\n\u003e\n\u003e The idea is that the wallet sets a Bloom filter with an FP rate that\n\u003e ensures it will see some random subset of all transactions being broadcast\n\u003e on the network, and with the extra data, it can calculate the fee paid.\n\u003e Once a transaction broadcast is observed the wallet includes that tx hash\n\u003e in its next Bloom filter, thus it can see which block the tx confirmed in.\n\u003e By measuring the amount of time that passed between a broadcast and it\n\u003e appearing in a block, it can calculate its own tables of fee paid:time\n\u003e taken.\n\u003e\n\u003e This has the advantage that you don't have to trust miners to publish data\n\u003e accurately. However it requires some protocol upgrades and of course, a lot\n\u003e of new code in SPV wallets.\n\u003e\n\u003e The way Bitcoin Wallet for Android handles fees currently is to just\n\u003e update a hard coded value every so often.\n\u003e\n\u003e\n\u003e ------------------------------------------------------------------------------\n\u003e\n\u003e _______________________________________________\n\u003e Bitcoin-development mailing list\n\u003e Bitcoin-development at lists.sourceforge.net\n\u003e https://lists.sourceforge.net/lists/listinfo/bitcoin-development\n\u003e\n\u003e\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150610/e4d5b79a/attachment.html\u003e",
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