bitcoin mempools may never clear again - get your utxo management in order during low fee periods to reduce the fees you will have to pay in the future

https://www.discreetlog.com/utxos/


As the fees creep up, people will be disincentivized to do on chain transactions…


What's the min size you recommend?


1M sats


Build the L2!


As wise man said...
nostr:note15s7f6r9fan2s8jsg8jz6547ltg47y67w0r09hrp9uh853l8h5sms6pfudv


I still think they’ll clear by end of year. Regardless, I look forward to teeing it up with you


Agreed


The mempool can clear algorithms are optimized with AI

- The larger tx will likely be willing to pay a higher fee for faster confirms
- The spam or cloud storage, will get charged more or be priced out
- The lower l1/l2 tx (e.g. channel openings) will get cheap and included
- Pruning, sync and utreexo keeps a decentralized node network
- Block size is optimized to match the transaction flow over time

This more sophisticated AI / game-theoretic fee model would ensure a sufficiently decentralized bitcoin, enough fees to compensate miners for ordering blocks, and good space for developers, the long tail, layered tx, and the poorest, to create a sustainable btc equlibrium.

It will perhaps take 2 years for an AI driven fee market to kick in.  The rest follows from that.


I would say depends on your spending habits. Whirlpool has pools for 100,000 sats (~$27) good for small spends, 1,000,000 sats (~$270) good for larger spends, and the biggest pool of 0.5 BTC (~$13,000) good for mixing before moving to cold storage.


Think about it this way. You can always buy smaller UTXOs in the future and if/when the price appreciates you will be buying smaller UTXOs anyway.


Might we already be there?  High Priority currently, 31 sat/vB ($1.18).

Can't remember that last time I saw unconfirmed transactions under 500m.


From: nostr:npub1jrx2fk666k5nt8vgak9xwyxlgcwh8fl9rvpwvvcpdthuqkcnptrqdfhtaq


The only “spends” you should be doing with UTXOs is opening lightning channels. Even if you’re spending the whole thing, you get inbound liquidity. It’s very inefficient to do real on chain transfers that aren’t opening into lightning channels or VERY long term storage.


I just did this when the blocks were 8 sat/vB. Good timing.


Is it still shitcoins on Bitcoin that's causing the congestion?  Seems like that should have burnt out by now


And I just found my new favorite website to read.
Thanks mate


Bitcoin Transaction Fees and UTXO Management


A small contribution, for understandable information 👊 https://image.nostr.build/b437acdbbe945dd41fedbdf5cb8a7cc314b2a853e047ee81a26f1e61503a1a74.jpg


On point ⚡

Here's a guide from @southernbitcoiner (wonder why dude's not having his nostr public/private keys generated yet), after which I finally understood what @odell is talking about because I saw it in action: https://www.youtube.com/watch?v=33H3uqgmw6k


I'm curious how this will play out in the long term for the average BTC hodler.

I DCA purchase BTC on an exchange and every few months I will send it to cold storage to minimize fees (compared to sending to cold storage after every purchase).

5, 10, or 15 years from now, if on-chain transactions are extremely expensive, I wonder how much I'd be paying to send to my cold storage...

If high fees push people to Lightning (which it should), then will there be a cold storage equivalent on LN?

Just wondering how this plays out for the average person. Not a miner, not a company with BTC holdings, not a trader. Feel free to discuss!

nostr:note15s7f6r9fan2s8jsg8jz6547ltg47y67w0r09hrp9uh853l8h5sms6pfudv


bitcoin mempools may never clear again - get your utxo management in order during low fee periods to reduce the fees you will have to pay in the future

https://www.discreetlog.com/utxos/


https://i.postimg.cc/FHVXytw2/ln-node-low-fee.jpg
few...


Thanks 🙏🏻🙏🏻🙏🏻⚡


The problem is balancing fewer large UTXOs with maintaining the privacy of separate coinjoined outputs.


Daddy Dell!!!!


🤟check. Done. TY 🙏. I still love the bet!