On Blockchain Commit Times: How miners choose Bitcoin transactions [pdf]

Post by DarthGhandi » Wed, Aug 19, 2020, 12:59 PM UTC

smichel17 wrote: post #10

ximonn wrote: post #3

It makes sense to offer a service for transactions which might not get included to offer a paid accelerator: https://pushtx.btc.com/

I'm not familiar with the space. Could someone explain why uoylj's (sibling) comment is [dead]? Here is the comment's text, for reference: " The Replace-By-Fee flag in Bitcoin is effectively a built-in paid accelerator that covers all miners. I think the reason inefficiencies like this exist is because a lot of wallets either don't implement it or don't have it on by default. "

Post by alcio » Wed, Aug 19, 2020, 3:05 PM UTC

viraptor wrote: post #11

alcio wrote: post #7

"miners somehowd eviate from the conventional wisdom or the norm, which dictates that transactions are prioritized for inclusion based on the fee-per-byte metric " Miners prioritize by fee-per-byte, except that the on-chain fee only accounts for part of the fee paid for some transactions. Over the years, many services have popped up where you can pay an out-of-band fee to a miner to include your transactions first. O…

Why would people use one of them rather than increase the fee? Is it just for "forgot to do it, I'll pay extra now" situations, or is there a reason to do it anyway?

Post by pests » Wed, Aug 19, 2020, 9:32 PM UTC

viraptor wrote: post #11

alcio wrote: post #7

"miners somehowd eviate from the conventional wisdom or the norm, which dictates that transactions are prioritized for inclusion based on the fee-per-byte metric " Miners prioritize by fee-per-byte, except that the on-chain fee only accounts for part of the fee paid for some transactions. Over the years, many services have popped up where you can pay an out-of-band fee to a miner to include your transactions first. O…

Why would people use one of them rather than increase the fee? Is it just for "forgot to do it, I'll pay extra now" situations, or is there a reason to do it anyway?

Post by smichel17 » Mon, Aug 24, 2020, 3:31 PM UTC

DarthGhandi wrote: post #12

smichel17 wrote: post #10

Earlier quoted context omitted.

I'm not familiar with the space. Could someone explain why uoylj's (sibling) comment is [dead]? Here is the comment's text, for reference: " The Replace-By-Fee flag in Bitcoin is effectively a built-in paid accelerator that covers all miners. I think the reason inefficiencies like this exist is because a lot of wallets either don't implement it or don't have it on by default. "

You can click on the time in the comment and then vouch for it to revive.