Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-11-03 Thread ZmnSCPxj via bitcoin-dev
Good morning list, > I describe here an algorithm based on semispace GC, but the GC algorithm > space is well-studied and other algorithms may also be devised (in > particular, spam is likely to match quite well with "infant mortality" > concept in GC, i.e. "most objects die young", so some k

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-29 Thread yanmaani--- via bitcoin-dev
[I removed a comment regarding the moderation of this list here because it caused for my message to be rejected] On 2021-10-26 02:56, lisa neigut via bitcoin-dev wrote: [...] the mempool is obsolete and should be eliminated. Instead, users should submit their transactions directly to mining po

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-27 Thread ZmnSCPxj via bitcoin-dev
Good morning Gloria, et al, > > Removing the mempool would... naturally resolve all current issues inherent > > in package relay and rbf rules. > > Removing the mempool does not help with this. How does a miner decide whether > a conflicting transaction is an economically-advantageous replaceme

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-27 Thread Peter Todd via bitcoin-dev
On Tue, Oct 26, 2021 at 07:44:45PM -0400, Antoine Riard via bitcoin-dev wrote: > Such a list of endpoints couldn't be static otherwise it's an artificial > barrier to enter in the mining competition, and as such a centralization > vector. Dynamic, trust-minimized discovery of the mining endpoints a

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-27 Thread LORD HIS EXCELLENCY JAMES HRMH via bitcoin-dev
misdelivered. From: bitcoin-dev on behalf of lisa neigut via bitcoin-dev Sent: Tuesday, 26 October 2021 1:56 PM To: bitcoin-dev@lists.linuxfoundation.org Subject: [bitcoin-dev] death to the mempool, long live the mempool Hi all, In a recent conversation with @glozow, I had the realization that

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-27 Thread Antoine Riard via bitcoin-dev
Hi Lisa, Network mempools constitute a blockspace marketplace where block demand meets the offer in real-time. Block producers are acting to discover the best feerate bids compensating for their operational costs and transaction proposers are acting to offer the best feerate in function of their c

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-26 Thread Gloria Zhao via bitcoin-dev
Hi Lisa, Some background for people who are not familiar with mempool: The mempool is a cache of unconfirmed transactions, designed in a way to help miners efficiently pick the highest feerate packages to include in new blocks. It stores more than a block's worth of transactions because transacti

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-26 Thread Pieter Wuille via bitcoin-dev
On Monday, October 25th, 2021 at 10:56 PM, lisa neigut via bitcoin-dev wrote: > Hi all, > > In a recent conversation with @glozow, I had the realization that the mempool > is obsolete and should be eliminated. Hi Lisa, I see where this idea is coming from, especially as it relates to reducing

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-26 Thread ZmnSCPxj via bitcoin-dev
Good morning Antoine, > However, as we discussed recently, i do believe their is a failure mode here. > On one hand, directly connecting to pools is already possible today and > pretty effective given the current mining centralization. On the other hand, > it's not possible for most pre-signe

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-26 Thread darosior via bitcoin-dev
Hi Niftynei, I share the concerns raised about direct connections to mining pools being a centralization pressure: de-anonymization and an inevitable higher barrier to entry. Making it more difficult to reach smaller miners is another one. Regarding fee estimation you state: > Initial feerate es

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-26 Thread ZmnSCPxj via bitcoin-dev
Good morning e, and lisa, > Agree ZmnSCPxj > > Hi lisa, > > I'm all for removing it from memory. :) Did that a while ago. We just call it > the transaction pool. > > There will always be unconfirmed transactions floating around (even just from > reorgs). Best to store them somewhere. Disk is che

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-26 Thread Eric Voskuil via bitcoin-dev
rder on a subset of them. e > -Original Message- > From: bitcoin-dev On Behalf > Of ZmnSCPxj via bitcoin-dev > Sent: Tuesday, October 26, 2021 1:02 AM > To: lisa neigut ; Bitcoin Protocol Discussion d...@lists.linuxfoundation.org> > Subject: Re: [bitcoin-dev] de

Re: [bitcoin-dev] death to the mempool, long live the mempool

2021-10-26 Thread ZmnSCPxj via bitcoin-dev
Good morning lisa, > Hi all, > > In a recent conversation with @glozow, I had the realization that the mempool > is obsolete and should be eliminated. > > Instead, users should submit their transactions directly to mining pools, > preferably over an anonymous communication network such as tor.

[bitcoin-dev] death to the mempool, long live the mempool

2021-10-26 Thread lisa neigut via bitcoin-dev
Hi all, In a recent conversation with @glozow, I had the realization that the mempool is obsolete and should be eliminated. Instead, users should submit their transactions directly to mining pools, preferably over an anonymous communication network such as tor. This can easily be achieved by mini