From: Ross Nicoll <jrn@jrn•me.uk>
To: Jim Phillips <jim@ergophobia•org>,
Pieter Wuille <pieter.wuille@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>,
Andreas Schildbach <andreas@schildbach•de>
Subject: Re: [Bitcoin-development] A suggestion for reducing the size of the UTXO database
Date: Sat, 09 May 2015 20:43:33 +0100 [thread overview]
Message-ID: <554E6365.4060304@jrn.me.uk> (raw)
In-Reply-To: <CANe1mWzLcmqRMJHsJvATTjyJ9fEdCDb-J0KAQhardVj3Jni6ww@mail.gmail.com>
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I think potential fee subsidies for cleaning up UTXO (and/or penalties
for creating more UTXO than you burn) are worth thinking about. As
Gavin's post ( gavinandresen.ninja/utxo-uhoh ) indicates, UTXO cost is
far higher than block storage, so charging differently for the in/out
mismatches should make good economic sense.
Ross
On 09/05/2015 20:16, Jim Phillips wrote:
> On Sat, May 9, 2015 at 2:06 PM, Pieter Wuille <pieter.wuille@gmail•com
> <mailto:pieter.wuille@gmail•com>> wrote:
>
> It's a very complex trade-off, which is hard to optimize for all
> use cases. Using more UTXOs requires larger transactions, and thus
> more fees in general.
>
> Unless the miner determines that the reduction in UTXO storage
> requirements is worth the lower fee. There's no protocol level
> enforcement of a fee as far as I understand it. It's enforced by the
> miners and their willingness to include a transaction in a block.
>
> In addition, it results in more linkage between coins/addresses
> used, so lower privacy.
>
> Not if you only select all the UTXOs from a single address. A wallet
> that is geared more towards privacy minded individuals may want to
> reduce the amount of address linkage, but a wallet geared towards the
> general masses probably won't have to worry so much about that.
>
> The only way you can guarantee an economical reason to keep the
> UTXO set small is by actually having a consensus rule that
> punishes increasing its size.
>
> There's an economical reason right now to keeping the UTXO set small.
> The smaller it is, the easier it is for the individual to run a full
> node. The easier it is to run a full node, the faster Bitcoin will
> spread to the masses. The faster it spreads to the masses, the more
> valuable it becomes.
>
>
>
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next prev parent reply other threads:[~2015-05-09 19:43 UTC|newest]
Thread overview: 45+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-05-09 17:09 Jim Phillips
2015-05-09 18:45 ` Peter Todd
2015-05-09 19:02 ` Jim Phillips
2015-05-09 19:00 ` Andreas Schildbach
2015-05-09 19:05 ` Jim Phillips
2015-05-09 19:06 ` Pieter Wuille
2015-05-09 19:16 ` Jim Phillips
2015-05-09 19:43 ` Ross Nicoll [this message]
[not found] ` <3862E01F-FD0F-48F5-A6D9-F8E0FB0AB68F@newcastle.ac.uk>
[not found] ` <CANe1mWys1gAO1CgPEpD7rdtXF2KYfvXA6bc0q-rAzg9xOFc-5A@mail.gmail.com>
[not found] ` <8029969D-FD22-43F7-930D-CEC7A87CEAD5@newcastle.ac.uk>
2015-05-09 19:28 ` Jim Phillips
2015-05-10 2:11 ` Matt Whitlock
2015-05-10 12:11 ` Jim Phillips
2015-05-25 18:41 ` Mike Hearn
2015-05-25 20:03 ` Matt Whitlock
2015-05-25 20:29 ` Andreas Schildbach
2015-05-25 21:05 ` Peter Todd
2015-05-26 12:40 ` Andreas Schildbach
2015-05-25 21:14 ` Warren Togami Jr.
2015-05-25 21:12 ` Mike Hearn
2015-05-10 13:35 ` Bob McElrath
2015-05-10 14:33 ` Jeff Garzik
2015-05-10 14:42 ` Bob McElrath
2015-05-12 19:50 ` Danny Thorpe
2015-05-25 18:44 ` Mike Hearn
2015-05-25 21:26 ` Peter Todd
2015-05-25 22:03 ` Mike Hearn
2015-05-26 0:10 ` [Bitcoin-development] Cost savings by using replace-by-fee, 30-90% Peter Todd
2015-05-26 18:22 ` Danny Thorpe
2015-05-26 18:38 ` Allen Piscitello
2015-05-26 18:42 ` Aaron Voisine
2015-05-26 18:47 ` Adam Back
2015-05-26 20:18 ` Matt Whitlock
2015-05-26 20:30 ` joliver
2015-05-26 20:56 ` Mark Friedenbach
2015-05-26 21:29 ` s7r
2015-05-26 22:06 ` Adam Back
2015-05-27 1:25 ` Peter Todd
2015-05-27 19:28 ` s7r
2015-05-26 22:29 ` Jeff Garzik
2015-05-09 19:25 [Bitcoin-development] A suggestion for reducing the size of the UTXO database Raystonn
2015-05-09 19:33 ` Jim Phillips
2015-05-09 19:43 Raystonn
2015-05-09 19:52 ` Jim Phillips
2015-05-09 20:20 Raystonn
2015-05-09 20:38 ` Pieter Wuille
2015-05-09 21:11 ` Jim Phillips
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