--- Log opened Mon Mar 01 00:00:44 2021
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11:00 < BlueMatt> ariard: ok, phew! we got all the fuzzing to seemingly not break the router, and discovered lots about our (rather strange) modifications to dijkstras that might well be unique, but I think are a good tradeoff.
11:01 < BlueMatt> so please review again (though I still need to review, and may nag gleb for more comments)
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12:38 < ariard> BlueMatt: ah awesome! yeah gonna review after meeting
12:38 < BlueMatt> thanks.
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15:43 < ariard> BlueMatt: do you think we should recommend lightclients to participate in tx-relay with a super-limited mempool (~4MB) and announcing a high-feerate feefilter to their peers?
15:43 < ariard> that way still saving on bandwidth while not having to rely on external fee estimation services
15:44 < ariard> (though I don't think any bitcoin library reimplement mempool logic, at least matching core one?)
15:56 < BlueMatt> right, I don't really think thats very practical
15:57 < BlueMatt> also, there really *arent* any light clients anymore
15:57 < BlueMatt> basically everything is electrum server or something similar, or a full node.
16:04 < ariard> yeah but I don't like having thousands of mobile clients relying on few fee estimation centralized services on the long-term
16:04 < ariard> quite a systematic risk
16:05 < ariard> and at the same time recommending to connect to all fee estimation services avaiable isn't great for privacy
16:09 < BlueMatt> yea, but I really dont think "small mempool" even solves the problem, really.
16:10 < BlueMatt> I mean maybe, given enough development work, and also downloading the full chain to compare was-in-mempool against confirmed, but...its a lot of work
16:10 < BlueMatt> and you still end up downloading the full chain
16:11 < ariard> right, maybe in the future if we have near-tip utxo set available thanks to wide deployment of assumeutxo servers you can validate such mempool
16:12 < jamesob> (amen ;)
16:12 < ariard> actually if we assume a byof future you might need to know the feerate only at broadcast, so just download a recent utxo set, pick-up likely to be spend
16:12 < BlueMatt> right, but unless you're a miner the only really "secure" way to do fee estimation is to look at whats in the blocks that was in your mempool
16:12 < BlueMatt> (and assure that whats in your mempool is also relaying broadly around the network)
16:12 < ariard> utxo and fetch them on the p2p network
16:12 < BlueMatt> right, orrr, you do no fee estimation, you broadcast a transaction, and you slowly ratchet up its fee over time. optimal fee-saving strategy and you don't have to estimate
16:12 < BlueMatt> but you have to have the time to do it
16:14 < ariard> I think we should dissociate secure fee-estimation ("may I trigger your fee-estimator") from fee estimation reliability ("How good it is at confirming stuff ?") though they may overlap
16:14 < ariard> like fee estimation reliability might in practice increased by data-mining available mempool data on the last X months
16:15 < ariard> oh fee-ratchet is def interesting to explore
16:16 < ariard> fee-bumping at every block isn't great for tx-origin privacy though it might be an affordable trade-off
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22:15 < darosior> But what would be the upper bound for fee ratchet?
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--- Log closed Tue Mar 02 00:00:44 2021