Some thoughts on mempool.space back channel fees.
1) it will cripple mempool based fee estimation
2) hard to know what fee to pay because these "back payments"won't be included in the block fees. Even though scanning last block fees it won’t be visible.
3) only mempool.space thing. No open protocol.
4) mempool space might become central part of the whole network if this will be used heavily. Not good.
5) No idea why this service when you already can use RBF or CPFP. Probably these RBF and CPFP solutions will also be cheaper as I believe mempool will take some extra cut for this service
6) business that is doing mempool - fee estimation - is now trying to offer the service that will effect transparency in fee estimations for transaction.
7) this back channel bump fee also requires trust that third party will bump the fee. In case of RBF no trust is needed.
Anyway it might cause issues only if used heavily by many people.
stallion / Italian Stallion
npub187…24sdn
2023-05-21 09:34:08
Author Public Key
npub187ygerlkw7sth7dj5wmvhsv4gf2tx3j0tfpecsx9tdcu0yfyz60sn24sdnPublished at
2023-05-21 09:34:08Event JSON
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"content": "Some thoughts on mempool.space back channel fees. \n\n1) it will cripple mempool based fee estimation\n2) hard to know what fee to pay because these \"back payments\"won't be included in the block fees. Even though scanning last block fees it won’t be visible. \n3) only mempool.space thing. No open protocol.\n4) mempool space might become central part of the whole network if this will be used heavily. Not good. \n5) No idea why this service when you already can use RBF or CPFP. Probably these RBF and CPFP solutions will also be cheaper as I believe mempool will take some extra cut for this service\n6) business that is doing mempool - fee estimation - is now trying to offer the service that will effect transparency in fee estimations for transaction. \n7) this back channel bump fee also requires trust that third party will bump the fee. In case of RBF no trust is needed.\n\nAnyway it might cause issues only if used heavily by many people.",
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}