Bitcoin, Explained 68: RBF In Bitcoin Core 24.0
In this episode of Bitcoin, Explained, hosts Aaron van Wirdum and Sjors Provoost revisit replace-by-fee (RBF). As they mentioned in Bitcoin, Explained episode 65, the upcoming Bitcoin Core release — Bitcoin Core 24.0 — includes the option to switch on “full RBF”, but this has caused some commotion in the Bitcoin community since the recording of that episode. Aaron and Sjors explain what this commotion has been about, and they highlight some of the new arguments for and against (full) RBF.
RBF has been the topic of a previous Bitcoin, Explained episode: episode 26. In this new episode, therefore, Aaron and Sjors don’t explain in-depth on what RBF is, exactly, or how it works. They do however very briefly summarize its most important aspects.
Aaron and Sjors then go on to explain why Bitcoin Core developers originally decided to include this feature, and they discuss some of the arguments for and against (full) RBF that came up at the time and since then. These include the effect of RBF on “pinning attacks” (a type of attack that is especially relevant for the Lightning Network and other Layer Two protocols), the relative safety of accepting unconfirmed transactions today, privacy-related arguments concerning the “opt-in” flag that RBF transactions currently use, the detrimental effects of monitoring the network for potential double spends, and more.
Aaron and Sjors also discuss the pros and cons of including RBF as an optional feature and thus letting node operators decide for themselves how their node deals with conflicting unconfirmed transactions. Sjors outlines why, in some cases, giving users more options could have detrimental effects on the health of the Bitcoin network, and considers whether the option to include the RBF option is such a case.
Finally, Aaron and Sjors briefly discuss an initiative by full RBF advocate Peter Todd to incentivize miners to apply full RBF logic to their transaction selection.
THIS EPISODE’S SPONSORS:
Voltage - https://voltage.cloud/
Bitcoin 2023 Miami - https://b.tc/conference/
Bitcoin Magazine - https://store.bitcoinmagazine.com/
Bitcoin Magazine Pro - https://bitcoinmagazine.com/tags/bitcoin-magazine-pro
Lower your time preference and lock-in your BITCOIN 2023 conference tickets today! Use the code BMLIVE for a 10% Discount!
Use promocode: BMLIVE for 10% off everything in our store!
-
1:12:13
Bitcoin Magazine
1 month agoJerome PooWell in the History Books, ep 502 The Breakup
4.36K7 -
2:45
Chicks in the Office
6 hours agoHolly Madison Talks Reconciliation with Kendra Wilkinson
32.9K28 -
LIVE
Di bear
8 hours agoFinal Season Mission, Pantheon | Destiny 2
631 watching -
6:54:43
SquallRush
10 hours agoAthenian Rhapsody!
36K6 -
1:47:01
Real Coffee With Scott Adams
8 hours agoEpisode 2492 CWSA 06/01/24
48.4K51 -
2:08:10
LFA TV
9 hours agoEP 47: Miles Guo Trial Special with Special Guests - Truth, Betrayal, and Fox Hunt | WHISTLE BLOWERS 6.01.24 12pm EST
41.8K14 -
1:13:59
Tactical Advisor
7 hours agoVault Room Tour/Unboxing- Vault Room Live Stream
42.8K3 -
1:11:28
The Squad
13 hours agoArsenal's Huge Summer🚨Olise to Man Utd DEAL✅ Osimhen to Arsenal or Chelsea☑️ UCL Final Preview
54.3K10 -
56:23
Trumpet Daily
1 day ago $1.10 earnedCohen Is Free to Lie and Steal, but Trump Is Guilty of Something - Trumpet Daily | May 31, 2024
41.2K57 -
8:26
MichaelBisping
1 day agoBISPING CHOKES OUT STEVE-O! | JACKASS STAR PUT TO SLEEP BY UFC CHAMP! *FULL VIDEO*
59.7K13