Paying fees off-chain | Bitcointalksearch.org

mocacinno

legendary

Activity: 3584

Merit: 5248

https://merel.mobi => buy facemasks with BTC/LTC

Quote from: Lightrunner on April 19, 2022, 04:56:16 PM

--snip--
Solution:
You send a miner money off-chain, for them to include your transaction in the block.

--snip--

Unsure if anyone has thoughts on this service would help the lightning network or other products.
Or if this idea has been thrown around before.

There are already several mining pools that do exactly this... For example viabtc: https://www.viabtc.com/tools/txaccelerator

But yeah, cpfp is usually cheaper and faster than paying a pool operator...

o_e_l_e_o

legendary

Activity: 2268

Merit: 18748

If you include an output in your transaction which you send to an address you control, then you can use child-pays-for-parent in the future to boost the fee of your low fee cosigned transactions.

In the example you give of closing a Lightning channel, then there is already a solution known as anchor outputs (https://bitcoinops.org/en/topics/anchor-outputs/), which essentially does this but with a few extra safety measures on top.

Lightrunner

newbie

Activity: 4

Merit: 4

What if you have a low fee transaction and want to raise its fee so it is mined, but are unable to resign it?
An example is an old cosigned unpublished transaction made when fees were lower.

Solution:
You send a miner money off-chain, for them to include your transaction in the block.

Any protocols that rely on cosigning without publishing face this problem of not knowing the fees in the future.

This may be helpful with the lightning network, where fee price fluctuations make it so commitment transaction fees are really high. Right now I believe commitment transactions are set with a high fee to avoid fee volatility.

Unsure if anyone has thoughts on this service would help the lightning network or other products.
Or if this idea has been thrown around before.

Topic: Paying fees off-chain (Read 159 times)