Taxonomy of Transaction Fees in Smart Contracts

[oohrah]

@ajtowns

That seems unsound? “I want to save money, therefore I’ll make it easy for someone to steal all my money” If you really want to save on fees, and don’t mind security risks, you don’t go on-chain at all, you use a centralised database, or a more-centralised blockchain than bitcoin.

The risk that makes sense to me here is the one to decentralisation: you’re still going onchain, you’re still keeping your funds secured, but you’re paying fees out of band to the largest miners via a trusted relationship, ignoring the downside that, at scale, this makes smaller miners less profitable, and perhaps unsustainable.

With V3 txns and things like it wouldn’t LSPs and others just pay miners out-of-band to mine the tx and let the anchor output just go unspent? Doesn’t seem like a trusted relationship to me because you can fall back to the expensive V3 mechanism. I wouldn’t expect them to care about the UTXO set being polluted with anchors.

@ajtowns

But a large LSP that has their own mining operation has another option

Why would they need a mining operation rather than use an accelerator like mempool.space/ViaBTC/Binance/etc?