bitcoin-dev

Draft BIP for User-Defined Transaction Flags Policy & Strategy

Draft BIP for User-Defined Transaction Flags Policy & Strategy

Original Postby Peter Todd

Posted on: April 14, 2024 15:51 UTC

The discussion highlights the ongoing support and distribution of two specific forks of Bitcoin Core, namely the Libre Relay and Full-RBF Peering versions.

These forks are designed to propagate full replace-by-fee (RBF) replacements, with around 30 nodes in the peer-to-peer network reportedly running either version. Additionally, Bitcoin Knots, another variant, is noted for enabling full-RBF by default across approximately 150 nodes.

A significant detail mentioned is that over 90% of the mining hash rate supports full-RBF due to the lucrative fees generated from full-RBF replacements during block mining. This financial incentive makes the notion of miners collectively abandoning full-RBF highly unlikely, if not implausible. The ease of modifying the Bitcoin Core codebase to enable full-RBF—by merely adjusting a single line of code—is pointed out as a simple task for miners, further indicating the minimal effort required to support this feature.

The communication also critiques the stance against full-RBF, suggesting that detractors focus their efforts on more productive endeavors such as the Lightning Network, rather than opposing what is portrayed as an inevitable evolution within Bitcoin transactions. Moreover, it argues for the official adoption of full-RBF in Bitcoin Core, referencing a GitHub pull request as evidence of this proposed update.

Relevant links include the GitHub repositories for the Libre Relay and Full-RBF Peering forks (Libre Relay fork, Full-RBF Peering fork), and a personal website (petertodd.org), providing additional context and resources related to the discussion.