about high priority transaction - page 2.

franky1

legendary

Activity: 4410

Merit: 4766

Quote from: Pursuer on March 06, 2017, 06:11:30 AM

I think we should bring back the priority feature back to bitcoin once again. maybe we can even fight the spam transactions with this (to some extent not completely). franky1 had some comment about this.
but in the end it is up to the miners to implement this or not. and since miners are looking for more money I think even if block size was increased and it was empty they wouldn't prioritize low fee transactions as right now F2pool mines empty blocks if mempool is empty and there are high priority low fee transactions in it.

a new priority fee formulae doesnt have to mean zero fee's for everyone.

but the old fee formulae was more about calculating the value of the tx against the bytes. which if 'rich' enough you can counter the bytes and get priority. so ended up being a rich vs poor (in favour of the rich)

a new priority could be about not value.. but age, bytes and using the CLTV mechanism for people to voluntarily 'lock-in maturity' of up to 24 hours to say that if people are willing to spend less often they pay less.. if their tx's are leaner they pay less.
but if you bloat a tx and want to spend it every block it gets extremely expensive

where by those wanting to spend more often than 24 hours on a regular basis would then find it voluntarily beneficial to use second layer niche services (LN)

below is an example, although not perfect shows how bloat and respending to soon can be 'punishable' and being lean and displaying desire not to spam can be rewarding

Quote from: franky1 on March 03, 2017, 01:33:29 AM

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

Xester

hero member

Activity: 994

Merit: 544

Quote from: lihuajkl on March 06, 2017, 01:23:39 AM

There used to be some room for high priorities transactions, which even don't pay fees and will be confimed in the blocks with other paying transactions. In the mean time miners seems to only include the higher fee one in the blocks and ingore the high priority ones. What do you think about it? After the block is increased, will this function be activated again?

Higher priority transactions are now useless and there is no room for that anymore. The ony thing that matters now are the higher fees that you set on your transaction so you can have a fast confirmation. Without a higher fee that is set your transaction will not be prioritized. The only VIP in the network are those who have the capacity to pay a higher miner fee.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

I think we should bring back the priority feature back to bitcoin once again. maybe we can even fight the spam transactions with this (to some extent not completely). franky1 had some comment about this.
but in the end it is up to the miners to implement this or not. and since miners are looking for more money I think even if block size was increased and it was empty they wouldn't prioritize low fee transactions as right now F2pool mines empty blocks if mempool is empty and there are high priority low fee transactions in it.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: e-coinomist on March 06, 2017, 05:47:52 AM

Quote from: vnvizow on March 06, 2017, 04:30:40 AM

Quote from: lihuajkl on March 06, 2017, 01:23:39 AM

There used to be some room for high priorities transactions, which even don't pay fees and will be confimed in the blocks with other paying transactions. In the mean time miners seems to only include the higher fee one in the blocks and ingore the high priority ones. What do you think about it? After the block is increased, will this function be activated again?

Well seems like these days the real "high priority blocks" are the ones the pools use to pay their miners

Touché!

That's the "whatever metric they want" which seemingly isn't located inside the sphere of "public interest" which includes everyone of us.

It is the same in any field of human activity

People are doing something (or just anything) not because of some obscure "public interest" but rather out of their own private interests (thiugh that's normal). And miners are not an exception to this rule anyway (but this alone doesn't make them less evil, of course). Mining starts to serve public interests when competition kicks in so that miners can't raise their fees infinitely. But since competition in this field is close to being extinguished, we see all the ugly effects of a market which has been heavily monopolized

AngryDwarf

sr. member

Activity: 476

Merit: 501

Quote from: e-coinomist on March 06, 2017, 05:47:52 AM

Quote from: vnvizow on March 06, 2017, 04:30:40 AM

Quote from: lihuajkl on March 06, 2017, 01:23:39 AM

There used to be some room for high priorities transactions, which even don't pay fees and will be confimed in the blocks with other paying transactions. In the mean time miners seems to only include the higher fee one in the blocks and ingore the high priority ones. What do you think about it? After the block is increased, will this function be activated again?

Well seems like these days the real "high priority blocks" are the ones the pools use to pay their miners

Touché!

That's the "whatever metric they want" which seemingly isn't located inside the sphere of "public interest" which includes everyone of us.

I think miners should include transactions according to the same consensus rule. Afterall, nodes validate their blocks on consensus, and people need to know that any transaction they send fits a consensus otherwise we will never know if a transaction will confirm because it might not match the miners configuration.

e-coinomist

legendary

Activity: 2380

Merit: 1085

Money often costs too much.

Quote from: vnvizow on March 06, 2017, 04:30:40 AM

Quote from: lihuajkl on March 06, 2017, 01:23:39 AM

There used to be some room for high priorities transactions, which even don't pay fees and will be confimed in the blocks with other paying transactions. In the mean time miners seems to only include the higher fee one in the blocks and ingore the high priority ones. What do you think about it? After the block is increased, will this function be activated again?

Well seems like these days the real "high priority blocks" are the ones the pools use to pay their miners

Touché!

That's the "whatever metric they want" which seemingly isn't located inside the sphere of "public interest" which includes everyone of us.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: lihuajkl on March 06, 2017, 01:23:39 AM

In the mean time miners seems to only include the higher fee one in the blocks and ingore the high priority ones. What do you think about it? After the block is increased, will this function be activated again?

The miners can choose to include transactions based on whatever metric they want. Alternatively they can also choose to not include any transactions.

Quote from: Carlton Banks on March 06, 2017, 04:53:10 AM

Quote from: LoyceV on March 06, 2017, 04:36:08 AM

Bitcoin Core 0.14 will deactivate this priority mechanism. (I only read this recently, I can't find back the source, so don't hang me on it)

0.14 makes removes some parts of age-based priority from the code, 0.15 will remove all of it. 0.15 will be out sometime summer 2017.

IIRC almost nobody uses it nowadays anyways.

Quote from: ImHash on March 06, 2017, 05:24:18 AM

Priority for sender and receiver but not for miners, only priority for miners is a transaction with the highest fee,
-snip-

Wrong.

ImHash

hero member

Activity: 924

Merit: 506

Priority for sender and receiver but not for miners, only priority for miners is a transaction with the highest fee, time where miners gasped for some txs to include and those faucet big transactions were considered a fat bonus has past and are now a history.

Carlton Banks

legendary

Activity: 3430

Merit: 3080

Quote from: LoyceV on March 06, 2017, 04:36:08 AM

Bitcoin Core 0.14 will deactivate this priority mechanism. (I only read this recently, I can't find back the source, so don't hang me on it)

0.14 makes removes some parts of age-based priority from the code, 0.15 will remove all of it. 0.15 will be out sometime summer 2017.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: lihuajkl on March 06, 2017, 01:23:39 AM

There used to be some room for high priorities transactions, which even don't pay fees and will be confimed in the blocks with other paying transactions. In the mean time miners seems to only include the higher fee one in the blocks and ingore the high priority ones. What do you think about it? After the block is increased, will this function be activated again?

This function is still active! But why would a miner pick someone who's sending a million dollars without a fee, if he can pick someone who's sending 5 bucks with 1 dollar fee? Of course the miner picks the transaction that earns him a dollar over the one that earns him nothing.
For the future when blocks might get bigger: Bitcoin Core 0.14 will deactivate this priority mechanism. (I only read this recently, I can't find back the source, so don't hang me on it)

vnvizow

sr. member

Activity: 364

Merit: 250

Quote from: lihuajkl on March 06, 2017, 01:23:39 AM

There used to be some room for high priorities transactions, which even don't pay fees and will be confimed in the blocks with other paying transactions. In the mean time miners seems to only include the higher fee one in the blocks and ingore the high priority ones. What do you think about it? After the block is increased, will this function be activated again?

Well seems like these days the real "high priority blocks" are the ones the pools use to pay their miners

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: lihuajkl on March 06, 2017, 01:23:39 AM

There used to be some room for high priorities transactions, which even don't pay fees and will be confimed in the blocks with other paying transactions. In the mean time miners seems to only include the higher fee one in the blocks and ingore the high priority ones. What do you think about it? After the block is increased, will this function be activated again?

As to me, just setting higher priority makes no particular sense

Besides, as far as I know, priority depends on how long a transaction hasn't been confirmed, and that might make some sense after all. Other than that, the only genuine measure that could objectively set the initial priority is the size of the fee itself. Really, if you want to prioritize your transaction and make miners actually pay attention to your needs, you prioritize it by making it more valuable for them to include it faster in the next block. In other words, you should put your money where your mouth is

Amph

legendary

Activity: 3248

Merit: 1070

maybe there are no more transaction with an idle status so long that they can be considered high priority?

by digging around seems that the reaosn is that the 50kb reserved in each block for these transaction is now set to zero after 0.12 version

lihuajkl

legendary

Activity: 1596

Merit: 1000

There used to be some room for high priorities transactions, which even don't pay fees and will be confimed in the blocks with other paying transactions. In the mean time miners seems to only include the higher fee one in the blocks and ingore the high priority ones. What do you think about it? After the block is increased, will this function be activated again?

Topic: about high priority transaction - page 2. (Read 1355 times)