* [bitcoindev] TRUC and P2A for CTV fee management
@ 2024-12-18 0:25 'stutxo' via Bitcoin Development Mailing List
2024-12-21 3:07 ` [bitcoindev] " /dev /fd0
0 siblings, 1 reply; 3+ messages in thread
From: 'stutxo' via Bitcoin Development Mailing List @ 2024-12-18 0:25 UTC (permalink / raw)
To: Bitcoin Development Mailing List
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Hi everyone,
I am trying to learn more about op_ctv (or its true name, op_securethebag).
One thing I keep hearing is that estimating fees are potentially an issue
when spending CTV transactions.
jamesob mentioned fees in his simple_ctv_valut
<https://github.com/jamesob/simple-ctv-vault>
*Because coins may remain vaulted for long periods of time, the unvault
process is sensitive to changes in the fee market. Because use of OP_CTV
requires precommiting to a tree of all possible specific outputs and the
number of inputs, we cannot use RBF to dynamically adjust feerate of
unvaulting transactions.*
and rustyrussell on nostr also mentioned fees being a problem
<https://primal.net/e/note1ulw6tr8hrqz092wy02fcyshn3fgt309kc5w95mhl7j0shj7c9zxsu8a2mw>
*Optimised sponsors for solving the "but how do I add fees" problem in a
way that doesn't drive miner centralisation.*
With v3 transactions available in bitcoin 28.0
<https://bitcoinops.org/en/bitcoin-core-28-wallet-integration-guide/>there
are a bunch of new techniques that have been enabled that we can use to
hopefully solve these issues
As long as you have an output for 240 sats paying to a P2A address, such as
tb1pfees9rn5nz on signet, you or anyone else will be able to bump the fees
using CPFP on the anchor output.
I have some examples of these transactions here on signet
CTV spend transaction with zero fees:
https://mempool.space/signet/tx/32f4f4e6165e7f8df9b9a762e11a6ca7f16087713e0e3e42352021e6bf3800e3
P2A CPFP transaction:
https://mempool.space/signet/tx/9a3582f03b0ac39cff8ed024cf8f38e4fc4a1ee2ff216badf041bf4572c0d03b
Code used is here:
https://github.com/stutxo/simple_ctv
Is there anything I am missing here? What are the downsides of this method?
Is this how most ctv scripts spends would work?
Thanks!
stu
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* [bitcoindev] Re: TRUC and P2A for CTV fee management
2024-12-18 0:25 [bitcoindev] TRUC and P2A for CTV fee management 'stutxo' via Bitcoin Development Mailing List
@ 2024-12-21 3:07 ` /dev /fd0
2024-12-31 0:57 ` 'stutxo' via Bitcoin Development Mailing List
0 siblings, 1 reply; 3+ messages in thread
From: /dev /fd0 @ 2024-12-21 3:07 UTC (permalink / raw)
To: Bitcoin Development Mailing List
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Hi stu,
Thanks for testing packages and P2A with CHECKTEMPLATEVERIFY on signet.
This example in the README looks incorrect:
> ### Bumping Fee by Deducting Fee from CTV Output
> For some reason if you still wanted to pay the fee with just the ctv
ouput you could take it from the output value
> - [bump fee without extra input or child transaction: Parent Transaction
on Mempool
Space](https://mempool.space/signet/tx/86896275fb71d4e3b84d1edeeacb90f7c4ccf77ee3a29e66d7effff4bb0682fb)
/dev/fd0
flopppy disk guy
On Wednesday, December 18, 2024 at 5:57:19 AM UTC+5:30 stutxo wrote:
> Hi everyone,
>
> I am trying to learn more about op_ctv (or its true name,
> op_securethebag). One thing I keep hearing is that estimating fees are
> potentially an issue when spending CTV transactions.
>
> jamesob mentioned fees in his simple_ctv_valut
> <https://github.com/jamesob/simple-ctv-vault>
>
> *Because coins may remain vaulted for long periods of time, the unvault
> process is sensitive to changes in the fee market. Because use of OP_CTV
> requires precommiting to a tree of all possible specific outputs and the
> number of inputs, we cannot use RBF to dynamically adjust feerate of
> unvaulting transactions.*
> and rustyrussell on nostr also mentioned fees being a problem
> <https://primal.net/e/note1ulw6tr8hrqz092wy02fcyshn3fgt309kc5w95mhl7j0shj7c9zxsu8a2mw>
>
> *Optimised sponsors for solving the "but how do I add fees" problem in a
> way that doesn't drive miner centralisation.*
>
> With v3 transactions available in bitcoin 28.0
> <https://bitcoinops.org/en/bitcoin-core-28-wallet-integration-guide/>there
> are a bunch of new techniques that have been enabled that we can use to
> hopefully solve these issues
>
> As long as you have an output for 240 sats paying to a P2A address, such
> as tb1pfees9rn5nz on signet, you or anyone else will be able to bump the
> fees using CPFP on the anchor output.
>
> I have some examples of these transactions here on signet
>
> CTV spend transaction with zero fees:
>
> https://mempool.space/signet/tx/32f4f4e6165e7f8df9b9a762e11a6ca7f16087713e0e3e42352021e6bf3800e3
>
> P2A CPFP transaction:
>
> https://mempool.space/signet/tx/9a3582f03b0ac39cff8ed024cf8f38e4fc4a1ee2ff216badf041bf4572c0d03b
>
> Code used is here:
> https://github.com/stutxo/simple_ctv
>
> Is there anything I am missing here? What are the downsides of this
> method? Is this how most ctv scripts spends would work?
>
> Thanks!
> stu
>
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* [bitcoindev] Re: TRUC and P2A for CTV fee management
2024-12-21 3:07 ` [bitcoindev] " /dev /fd0
@ 2024-12-31 0:57 ` 'stutxo' via Bitcoin Development Mailing List
0 siblings, 0 replies; 3+ messages in thread
From: 'stutxo' via Bitcoin Development Mailing List @ 2024-12-31 0:57 UTC (permalink / raw)
To: Bitcoin Development Mailing List
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thanks floppy disk guy,
i updated this example with the correct way a single 1c1p spend with no p2a
would look like
parent
https://mempool.space/signet/tx/7a3768737ae4e20a556de6f475bfc74a13a8fda2287dbabbf6ffe8d7f5500de2
child
https://mempool.space/signet/tx/3135e52ad30eb788d455549f4f09b55f887cdd2eb1660180b0e12f10af807cf5
Although im not sure how useful this one is, i guess its nice because you
can still get the parent transaction in to the mempool even with 0 fees
I also added an example of v3 transactions and p2a to my ctv payment pool
PoC here https://github.com/stutxo/op_ctv_payment_pool
On Saturday, December 21, 2024 at 4:42:08 AM UTC /dev /fd0 wrote:
> Hi stu,
>
> Thanks for testing packages and P2A with CHECKTEMPLATEVERIFY on signet.
>
> This example in the README looks incorrect:
>
> > ### Bumping Fee by Deducting Fee from CTV Output
> > For some reason if you still wanted to pay the fee with just the ctv
> ouput you could take it from the output value
> > - [bump fee without extra input or child transaction: Parent Transaction
> on Mempool Space](
> https://mempool.space/signet/tx/86896275fb71d4e3b84d1edeeacb90f7c4ccf77ee3a29e66d7effff4bb0682fb
> )
>
> /dev/fd0
> flopppy disk guy
>
> On Wednesday, December 18, 2024 at 5:57:19 AM UTC+5:30 stutxo wrote:
>
>> Hi everyone,
>>
>> I am trying to learn more about op_ctv (or its true name,
>> op_securethebag). One thing I keep hearing is that estimating fees are
>> potentially an issue when spending CTV transactions.
>>
>> jamesob mentioned fees in his simple_ctv_valut
>> <https://github.com/jamesob/simple-ctv-vault>
>>
>> *Because coins may remain vaulted for long periods of time, the unvault
>> process is sensitive to changes in the fee market. Because use of OP_CTV
>> requires precommiting to a tree of all possible specific outputs and the
>> number of inputs, we cannot use RBF to dynamically adjust feerate of
>> unvaulting transactions.*
>> and rustyrussell on nostr also mentioned fees being a problem
>> <https://primal.net/e/note1ulw6tr8hrqz092wy02fcyshn3fgt309kc5w95mhl7j0shj7c9zxsu8a2mw>
>>
>> *Optimised sponsors for solving the "but how do I add fees" problem in a
>> way that doesn't drive miner centralisation.*
>>
>> With v3 transactions available in bitcoin 28.0
>> <https://bitcoinops.org/en/bitcoin-core-28-wallet-integration-guide/>there
>> are a bunch of new techniques that have been enabled that we can use to
>> hopefully solve these issues
>>
>> As long as you have an output for 240 sats paying to a P2A address, such
>> as tb1pfees9rn5nz on signet, you or anyone else will be able to bump the
>> fees using CPFP on the anchor output.
>>
>> I have some examples of these transactions here on signet
>>
>> CTV spend transaction with zero fees:
>>
>> https://mempool.space/signet/tx/32f4f4e6165e7f8df9b9a762e11a6ca7f16087713e0e3e42352021e6bf3800e3
>>
>> P2A CPFP transaction:
>>
>> https://mempool.space/signet/tx/9a3582f03b0ac39cff8ed024cf8f38e4fc4a1ee2ff216badf041bf4572c0d03b
>>
>> Code used is here:
>> https://github.com/stutxo/simple_ctv
>>
>> Is there anything I am missing here? What are the downsides of this
>> method? Is this how most ctv scripts spends would work?
>>
>> Thanks!
>> stu
>>
>
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