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Author Topic: Electrum returns me transaction error on send  (Read 280 times)
HCP
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May 14, 2020, 09:31:38 PM
 #21

[But why? Even if it takes days to get confirmed why is it forbidden by nodes?
To go back to this point... and a quick "history" lesson.

The concept of "dust" and the resulting implementation of the "minDustRelayFee" was to prevent 'spam'... there was an instance back in the day where the network was "attacked" (some say 'tested' Tongue) by someone sending vast amounts of very very very small transactions. Think about it... if you wanted to "DoS" Bitcoin, what better way than to flood the network with 100000's of transactions... which would cost you next to nothing if you could send just 1 sat, and use something less than 1 sat/byte.

Thus the minimums were set.


Yes... currently it's 546 sats.
It's (148+34)*3=546 sats for legacy transactions. For segwit it's (67+31)*3=294 sats.
https://github.com/bitcoin/bitcoin/blob/master/src/policy/policy.cpp#L16
[/quote]
SegWit... making nice and easy explanations "difficult" since 2017 Roll Eyes Tongue

Seriously tho, thanks for expanding on my quick and dirty explanation... I think it is an important point that SegWit has more benefits than just "smaller fees" Wink

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May 14, 2020, 10:02:50 PM
 #22

Oh I now got it. Imagine having 1BTC and wanting to spam for 1 satoshi. Yeah that would not be nice but it wouldn't ruin the network. Right? It would just burden the nodes' reveiced information.

Who determines those minimum values? Bitcoin core developers?

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May 14, 2020, 10:08:09 PM
Last edit: May 14, 2020, 10:27:14 PM by BitCryptex
 #23

Oh I now got it. Imagine having 1BTC and wanting to spam for 1 satoshi. Yeah that would not be nice but it wouldn't ruin the network. Right? It would just burden the nodes' reveiced information.

The mempool would quickly fill with 1 sat/byte transaction and other people would end up filling the mempool with transactions with much higher fees so the spam transactions would be dropped eventually. Apparently, it also used to crash nodes.

Who determines those minimum values? Bitcoin core developers?

Bitcoin Core developers set a default value. Every node operator is free to change the DUST_RELAY_TX_FEE parameter. The default value might be lowered in the future once the default minRelayTxFee value gets lowered.
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May 14, 2020, 10:37:51 PM
 #24

Yes but nodes will remove it from their mempool after 2 weeks or whatever time period it requires. So what's the point? All of these thousands TXs will go to the deep of the mempool and no miner will deal with them.

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May 14, 2020, 10:44:52 PM
 #25

Yes but nodes will remove it from their mempool after 2 weeks or whatever time period it requires. So what's the point? All of these thousands TXs will go to the deep of the mempool and no miner will deal with them.

Still, why would you waste bandwidth which is not unmetered for everyone and allow inflating the transaction fees? It would be also bad if the nodes could potentially crash.
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May 15, 2020, 12:05:21 PM
 #26

I have noticed from your screenshots that you are using mBTC as your base unit and not BTC. You might want to change that in the options menu of your Electrum app as it might create confusions for you down the line.

I am not 100% sure of the correct path but you should be able to find the base unit field somewhere along Tools > Preferences...

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May 15, 2020, 12:17:51 PM
 #27

I have noticed from your screenshots that you are using mBTC as your base unit and not BTC. You might want to change that in the options menu of your Electrum app as it might create confusions for you down the line.

I am not 100% sure of the correct path but you should be able to find the base unit field somewhere along Tools > Preferences...

BTC and mBTC are just units. And no, I do not receive very frequently bitcoins to be a problem  Tongue

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