Should Full Replace-By Fee be merged into Bitcoin Core?

PodcastWeighing the pros and cons of the current debate in the Bitcoin community about whether to include full RBF into the next Bitcoin Core update.Weighing the pros and cons of the current debate in the Bitcoin community about whether to include full RBF into the next Bitcoin Core update.Watch This Episode On YouTube Or RumbleListen To The Episode Here:AppleSpotifyGoogleLibsynIn this episode of “Bitcoin, Explained,” hosts Aaron van Wirdum and Sjors Provoost revisit the replace-by-fee (RBF) node policy. Episode 65 mentioned that the upcoming Bitcoin Core 24.0 release will allow users to turn on “full-RBF.” This has caused some controversy in the Bitcoin community. Van Wirdum, Provoost and others explain the commotion and highlight some of their new arguments for and against full RBF. RBF was the subject of an earlier episode of “Bitcoin, Explained”, so van Wirdum, Provoost and others don’t go into detail about RBF or how it works. They do however briefly summarise the most important aspects of RBF. Provoost and Van Wirdum then discuss some recent arguments in favor and against full RBF. Provoost discusses the impact of RBF on “pinning” attacks — which are particularly relevant for the Lightning Network and other Layer 2 protocols. They also discuss privacy-related arguments concerning RBF transactions and the privacy-related arguments regarding the “opt in” flag. Provoost also discusses the pros and cons to including RBF as an option feature that allows node operators to decide how they deal with conflicting unconfirmed transaction. Provoost outlines why, in some cases, giving users more options could have detrimental effects on the health of the Bitcoin network, and considers whether the option to include the RBF option is such a case.Finally, van Wirdum and Provoost briefly discuss an initiative by full-RBF advocate Peter Todd to incentivize miners to apply full-RBF logic to their transaction selection.Tagsterms:RbfBitcoin Explainedreplace by feeBitcoin core

 

Add a Comment

Your email address will not be published. Required fields are marked *