From: Peter Todd <pete@petertodd•org>
To: Mike Hearn <mike@plan99•net>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Making fee estimation better
Date: Thu, 24 Oct 2013 10:43:58 -0400 [thread overview]
Message-ID: <20131024144358.GA17142@savin> (raw)
In-Reply-To: <CANEZrP100Lg_1LcFMKx1yWrGTSFb5GZmLmXNbZjPGaiEgOeuwA@mail.gmail.com>
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On Thu, Oct 24, 2013 at 04:38:16PM +0200, Mike Hearn wrote:
> On Thu, Oct 24, 2013 at 4:30 PM, Peter Todd <pete@petertodd•org> wrote:
>
> > Quick thought on how to make blockchain-based fee estimates work better
> > in the context of out-of-band mining contracts: have miners advertise in
> > their coinbase's what fees were actually paid, as opposed to appear to
> > have been paid.
>
>
> This is interesting, but I suppose some miners may have business models
> that can't be easily summed up as a "fee" - like all-you-can-eat deals with
> certain providers, or preference to certain kinds of transactions etc.
For sure, although *usually* all kinds of odd-ball forms of compensation
can be turned into a dollar figure. :)
> For the concern that estimation might force fees down too far if miners
> include private transactions, I thought the estimates were calculated only
> on broadcast transactions, so transactions that just appear in a block
> won't ever influence the estimate?
The thing is if a miner is mining a transaction, even in exchange for a
out-of-band fee if they succeed, they probably still have an incentive
to a: ask the sender to include enough of a fee that it propagates, and
b: broadcast it themselves to make sure it's in other nodes signature
caches so their blocks propagate fast. (esp. with by-txid-only relaying)
Anyway, in what circumstance would a customer want an exclusive contract
with a miner?
--
'peter'[:-1]@petertodd.org
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next prev parent reply other threads:[~2013-10-24 14:44 UTC|newest]
Thread overview: 22+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-10-24 14:30 Peter Todd
2013-10-24 14:38 ` Mike Hearn
2013-10-24 14:43 ` Peter Todd [this message]
2013-10-24 14:46 ` Mike Hearn
2013-10-24 14:54 ` Peter Todd
2013-10-24 20:39 ` Gavin Andresen
2013-10-25 7:07 ` Peter Todd
2013-10-25 12:02 ` Andreas Petersson
2013-10-25 13:29 ` Mark Friedenbach
2013-10-25 14:08 ` Andreas Petersson
2013-10-25 16:13 ` Peter Todd
2013-10-25 19:35 ` Jeremy Spilman
2013-10-25 22:13 ` Peter Todd
2013-10-25 7:51 ` Jeremy Spilman
2013-10-25 22:49 ` Peter Todd
2013-10-26 0:25 ` Gavin Andresen
2013-10-26 7:28 ` Peter Todd
2013-10-28 7:17 ` John Dillon
2013-11-04 10:52 ` [Bitcoin-development] Zeroconf-safe tx replacement (replace-for-fee) Peter Todd
2013-11-04 11:10 ` Adam Back
2013-11-04 11:59 ` Peter Todd
[not found] <mailman.289181.1382717617.21953.bitcoin-development@lists.sourceforge.net>
2013-10-25 16:40 ` [Bitcoin-development] Making fee estimation better Tamas Blummer
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