From: ZmnSCPxj <ZmnSCPxj@protonmail•com>
To: Jeremy <jlrubin@mit•edu>
Cc: Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>,
lightning-dev <lightning-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] [Lightning-dev] Removing the Dust Limit
Date: Sat, 21 Aug 2021 03:10:46 +0000 [thread overview]
Message-ID: <50s2eg2qZ_BSHhI1mT_mHP7fkDQ8EXnakOb9NmDfZlx_hN44l37UmopfAr2V4ws4yhx0YihNYBIOelJ01vhITI8K4G1UgmobTwf9FyJq_Yo=@protonmail.com> (raw)
In-Reply-To: <CAD5xwhiEDa2KjF265iDZ1ism4AFzh3S3D4cJSESVVKNwv9L7zA@mail.gmail.com>
Good morning Jeremy,
> one interesting point that came up at the bitdevs in austin today that favors remove that i believe is new to this discussion (it was new to me):
>
> the argument can be reduced to:
>
> - dust limit is a per-node relay policy.
> - it is rational for miners to mine dust outputs given their cost of maintenance (storing the output potentially forever) is lower than their immediate reward in fees.
> - if txn relaying nodes censor something that a miner would mine, users will seek a private/direct relay to the miner and vice versa.
> - if direct relay to miner becomes popular, it is both bad for privacy and decentralization.
> - therefore the dust limit, should there be demand to create dust at prevailing mempool feerates, causes an incentive to increase network centralization (immediately)
>
> the tradeoff is if a short term immediate incentive to promote network centralization is better or worse than a long term node operator overhead.
Against the above, we should note that in the Lightning spec, when an output *would have been* created that is less than the dust limit, the output is instead put into fees.
https://github.com/lightningnetwork/lightning-rfc/blob/master/03-transactions.md#trimmed-outputs
Thus, the existence of a dust limit encourages L2 protocols to have similar rules, where outputs below the dust limit are just given over as fees to miners, so the existence of a dust limit might very well be incentivize-compatible for miners, regardless of centralization effects or not.
Regards,
ZmnSCPxj
next prev parent reply other threads:[~2021-08-21 3:11 UTC|newest]
Thread overview: 34+ messages / expand[flat|nested] mbox.gz Atom feed top
2021-08-08 18:52 [bitcoin-dev] " Jeremy
2021-08-08 21:14 ` Matt Corallo
2021-08-08 21:41 ` Oleg Andreev
2021-08-08 21:51 ` [bitcoin-dev] [Lightning-dev] " David A. Harding
2021-08-08 22:46 ` Jeremy
2021-08-08 23:07 ` Jeremy
2021-09-30 22:07 ` Pieter Wuille
2021-10-01 13:40 ` Erik Aronesty
2021-10-07 4:52 ` ZmnSCPxj
2021-10-07 8:17 ` LORD HIS EXCELLENCY JAMES HRMH
2021-10-07 8:34 ` LORD HIS EXCELLENCY JAMES HRMH
2021-10-07 10:35 ` LORD HIS EXCELLENCY JAMES HRMH
2021-10-07 9:13 ` shymaa arafat
2021-10-07 10:01 ` ZmnSCPxj
[not found] ` <CAM98U8kKud-7QoJKYd5o245o8vGeUD7YD2OnXF_QeKaO33dSTw@mail.gmail.com>
[not found] ` <MCYvJzqskIC56X-ylVCNgdaVk6SNnpCE6GgssXxK-znwwK4MoA41a2A-yNuCG8s99ll3h__YjCjBlP99A27Clbip-aYbF2ZwLpZ0SJT0j2U=@protonmail.com>
2021-10-08 7:44 ` shymaa arafat
2021-10-08 10:38 ` ZmnSCPxj
2021-10-08 22:47 ` ZmnSCPxj
2021-08-09 13:22 ` Antoine Riard
2021-08-10 0:30 ` Billy Tetrud
2021-08-10 5:04 ` Jeremy
2021-08-10 5:44 ` Billy Tetrud
2021-08-10 11:37 ` ZmnSCPxj
2021-08-10 18:39 ` Charlie Lee
2021-08-10 6:14 ` David A. Harding
2021-08-10 22:37 ` Antoine Riard
2021-08-11 0:46 ` ZmnSCPxj
2021-08-12 22:03 ` Anthony Towns
2021-08-20 4:51 ` Jeremy
2021-08-20 5:45 ` shymaa arafat
2021-08-21 3:10 ` ZmnSCPxj [this message]
2021-08-26 21:21 ` Billy Tetrud
2021-08-27 9:07 ` shymaa arafat
2021-08-30 3:31 ` LORD HIS EXCELLENCY JAMES HRMH
2021-08-18 19:06 shymaa arafat
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