Re: SegWit2MB does nothing at all to fix the real problem
new priority fee formulae needs to be introduced that cannot be easily countered by just using more btc VALUE as your change back to yourself per tx like the old formulae did..
soo..
soo..
so lets think about a priority fee thats not about rich vs poor but about respend spam and bloat.
lets imagine we actually use the tx age combined with CLTV to signal the network that a user is willing to add some maturity time if their tx age is under a day, to signal they want it confirmed but allowing themselves to be locked out of spending for an average of 24 hours.
and where the bloat of the tx vs the blocksize has some impact too... rather than the old formulae which was more about the value of the tx
where if they want to spend more then once a day, then obviously things like LN would be of benefit
as you can see its not about tx value. its about bloat and age.
this way
those not wanting to spend more than once a day and dont bloat the blocks get preferential treatment onchain.
if you are willing to wait a day but your taking up 1% of the blockspace. you pay more
if you want to be a spammer spending every block. you pay the price
and if you want to be a total ass-hat and be both bloated and respending often you pay the ultimate price
lets imagine we actually use the tx age combined with CLTV to signal the network that a user is willing to add some maturity time if their tx age is under a day, to signal they want it confirmed but allowing themselves to be locked out of spending for an average of 24 hours.
and where the bloat of the tx vs the blocksize has some impact too... rather than the old formulae which was more about the value of the tx
where if they want to spend more then once a day, then obviously things like LN would be of benefit
as you can see its not about tx value. its about bloat and age.
this way
those not wanting to spend more than once a day and dont bloat the blocks get preferential treatment onchain.
if you are willing to wait a day but your taking up 1% of the blockspace. you pay more
if you want to be a spammer spending every block. you pay the price
and if you want to be a total ass-hat and be both bloated and respending often you pay the ultimate price
+1 franky - thanks for putting together the numbers on this solution. Placing a higher cost on the spam transactions certainly will help cut them down. As you point out, exchanges can still spam transactions to themselves.
I also believe that the FUD around these giant transactions that trigger quadratic hashing issues is being overplayed. What better way to sell Segfault and LN?