On Thu, Sep 28, 2017 at 06:06:29PM -0700, Mark Friedenbach via bitcoin-dev wrote: > Unlike other proposed fixes to the fee model, this is not trivially > broken by paying the miner out of band. If you pay out of band fee > instead of regular fee, then your transaction cannot be included with > other regular fee paying transactions without the miner giving up all > regular fee income. Any transaction paying less fee in-band than the > otherwise minimum fee rate needs to also provide ~1Mvbyte * fee rate > difference fee to make up for that lost income. So out of band fee is > only realistically considered when it pays on top of a regular feerate > paying transaction that would have been included in the block anyway. > And what would be the point of that?
This proposed fix is itself broken, because the miner can easily include *only* transactions paying out-of-band, at which point the fee can be anything. Equally, miners can provide fee *rebates*, forcing up prices for everyone else while still allowing them to make deals. Also, remember that you can pay fees via anyone-can-spend outputs, as miners have full ability to control what transactions end up spending those outputs. The fact these countermeasures are all likely to be implemented - all of which harm the overall ecosystem by reducing visibility of fees and making it harder to compete with centralized miners - makes me very dubious about that proposal. -- https://petertodd.org 'peter'[:-1]@petertodd.org
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