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Author Topic: As far as network integrity goes, Is there anything wrong with accepting low tx  (Read 731 times)
Xenland (OP)
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November 14, 2012, 11:06:02 AM
 #1

As far as network integrity goes, Is there anything wrong with accepting low to none tx fee transactions only? (Low being 0.00005)
Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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November 14, 2012, 11:06:18 AM
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I mean /verifying/mining.... etc you know
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November 14, 2012, 11:24:18 AM
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Should be fine but you shouldn't expect a lot in fees.

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November 14, 2012, 11:55:47 AM
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You also shouldn't expect too many fee-requiring transactions to get to your miner if they are paying less than .0001 BTC/KB, as that is the relay threshold, unless you publish your node IP so freeloaders can directly connect to you.

If transactions can be free, it makes spamming a million transactions almost free, which is why the minimum fee is mandatory for transactions under .01 BTC. Miners have an ethical responsibility to include transactions in a timely manner if they comply with network rules, and promote fee rewards with quick inclusion for extra fees paid, while keeping cheap junk out of the now-5GB of blockchain p2p downloading that burdens client installation.

If your client accepts any amounts of free transactions relayed to it, it also must keep all transactions in the memory pool until included in a block, which exposes Bitcoin to another DDOS vector - by sending you gigs of spam transactions directly, your memory can be used up.
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November 14, 2012, 12:26:07 PM
 #5

You also shouldn't expect too many fee-requiring transactions to get to your miner if they are paying less than .0001 BTC/KB, as that is the relay threshold, unless you publish your node IP so freeloaders can directly connect to you.

If transactions can be free, it makes spamming a million transactions almost free, which is why the minimum fee is mandatory for transactions under .01 BTC. Miners have an ethical responsibility to include transactions in a timely manner if they comply with network rules, and promote fee rewards with quick inclusion for extra fees paid, while keeping cheap junk out of the now-5GB of blockchain p2p downloading that burdens client installation.

If your client accepts any amounts of free transactions relayed to it, it also must keep all transactions in the memory pool until included in a block, which exposes Bitcoin to another DDOS vector - by sending you gigs of spam transactions directly, your memory can be used up.
Thanks for that informative answer Smiley
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