On Fri, Oct 25, 2013 at 12:51:22AM -0700, Jeremy Spilman wrote: > Gavin, can you confirm the best place to read up on the discuss > fee estimation changes for v0.9? > > I think fee estimation at its core is about providing a data point, > or even call it an API, which can be used however you see fit. > > What parameters do I want to see in a 'fee estimation' API? > > - 30 minutes vs 24 hours processing time > - Confidence Levels (50%/90%) > > What properties does the result have? > - Is it globally consistent? > > Talking about fees.. I read this: > https://gist.github.com/gavinandresen/2961409 and there is so much > there I really liked.
State-of-the-art thinking has changed a lot; that document is over a year old and needs significant changes to update it. > Any pointers for reading more about the leading theories on > transaction fees? For example, how well do they correlate with > network security? Are we getting what we are paying for? :-) Network security is currently funded by inflation rather than transaction fees. This is likely to remain true for at least a few more years. FWIW the cost of that security on a per transaction basis is about $18, see http://blockchain.info/charts/cost-per-transaction -- 'peter'[:-1]@petertodd.org 0000000000000009b86605cc3235f2674600d5131dd437d941b479e78588177b
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