Subject: Re: [bitcoin-dev] Rebatable fees & incentive-safe fee markets

From: Jorge Timón <[email-masked]>
Date: Sat, 30 Sep 2017 05:55:58 +0200

Gmaxwell I think what's new is that in this case, with a single tx you
would take out all txs with fee below 1 btc. With current rules, you would
only remove enoguh txs for that one to fit, not empty the whole block and
mine only a block with that single tx.

On 30 Sep 2017 5:53 am, "Jorge Timón" <[email-masked]> wrote:

> I really don't see how this "outlier behaviour" can be prevented. I think
> it would be the norm even with your proposed "fix". Perhaps I'm missing
> something too.
>
> On 29 Sep 2017 5:24 pm, "Mark Friedenbach via bitcoin-dev" <
> [email-masked]> wrote:
>
>> This is correct. Under assumptions of a continuous mempool model however
>> this should be considered the outlier behavior, other than a little bit of
>> empty space at the end, now and then. A maximum fee rate calculated as a
>> filter over past block rates could constrain this outlier behavior from
>> ever happening too.
>>
>> > On Sep 29, 2017, at 3:43 AM, Daniele Pinna <[email-masked]>
>> wrote:
>> >
>> > Maybe I'm getting this wrong but wouldn't this scheme imply that a
>> miner is incentivized to limit the amount of transactions in a block to
>> capture the maximum fee of the ones included?
>> >
>> > As an example, mined blocks currently carry ~0.8 btc in fees right now.
>> If I were to submit a transaction paying 1 btc in maximal money fees, then
>> the miner would be incentivized to include my transaction alone to avoid
>> that lower fee paying transactions reduce the amount of fees he can earn
>> from my transaction alone. This would mean that I could literally clog the
>> network by paying 1btc every ten minutes.
>> >
>> > Am I missing something?
>> >
>> > Daniele
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>