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spesmilo / electrum

Electrum Bitcoin Wallet
https://electrum.org
MIT License
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allow fees to be set below 1 sat / B #3793

Closed dl3br closed 6 years ago

dabura667 commented 6 years ago

This is not a client parameter.

99% of nodes on the bitcoin network will not propagate transactions with less than 1 sat/b in fees.

SomberNight commented 6 years ago

https://github.com/spesmilo/electrum/blob/743ef9ec8f1e69c56f587359f00de19f4f05ff0a/gui/qt/main_window.py#L1482-L1484

@dabura667 Currently, Electrum does not allow at all to create a txn that pays below 1 sat/vB. So it's not just the restriction imposed by the network.

@dlebrecht What is the suggestion here? Remove this restriction completely? To what end? So that you can create one and send it out of band to a miner? I'm asking to better understand what you want.

dl3br commented 6 years ago

@SomberNight

well, txs are going this weekend on fee rates of ~3 sat / B, which is pretty close to the limit of electrum

theoretically the minimum mining fee greater than zero that one can pay is 1 sat / transaction.

one tiny transaction has > 100 B, thus 1 sat/B forces > 100 sat / tx

potentially BTC price can go very high and that 100 sat / tx can be very expensive

im in favor of no restrictions, but if the network doesn't gossip such txs than its of not much use either

SomberNight commented 6 years ago

There is a policy enforced by bitcoin nodes that enforces a minimum of 1 sat/vB limit. They don't propagate any transaction that pays less. This is what @dabura667 was referring to. Electrum enforces this same limit on the client side. We could remove this limit, however bitcoin nodes would not propagate the transaction in any case. This is a DDOS mitigation by them.