[BUG]: spammers get Bitcoin blockspace at discounted price. Let's fix it

[BUG]: spammers get Bitcoin blockspace at discounted price. Let's fix it

Original Postby GregTonoski

Posted on: January 10, 2024 11:15 UTC

The correspondence highlights a notable issue within the Bitcoin Core source code, specifically pointing out the presence of price discrimination.

The root cause is identified as the pricing strategy for witness bytes, which are priced more cheaply than other bytes. This pricing approach has raised concerns regarding its optimality, with some viewing it as a factor that could potentially lead to undesired consequences. While the suggested remedy involves reducing the witness discount, the discussion also opens up the possibility of exploring alternative solutions. The exchange includes a call for scientific evidence to support claims about the impacts of the current pricing strategy on the system's functionality and fairness, indicating a search for an empirically grounded approach to addressing the problem. The tone of the conversation suggests differing viewpoints on the severity of the issue, ranging from it being suboptimal to potentially punitive or destructive.

In this dialogue, both agreement and skepticism are expressed over the implications of the current pricing mechanism. The complexity of the matter is acknowledged, as is the need for a careful evaluation of potential fixes that could either mitigate or exacerbate the situation. The parties involved are engaged in a critical analysis of the Bitcoin Core's approach to transaction fee structuring, particularly how it pertains to witness data, reflecting a broader debate on protocol design and economic incentives within the cryptocurrency space.