Citadel Dispatch

CD101: Mempools and Transaction Fees with the Mempool Space Team - Wiz, Simon, and Steve

May 13, 2023

01:48:28

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Episode notes

Introduction

5min

Bitcoin Park: A Social Club Mixed With Meeting Space for Bitcoiners

2min

Mempools Space: An Open Source Bitcoin Project

3min

The Importance of Mempools in the Bitcoin Network

5min

The Mempool Is Not Irrelevant

3min

The Importance of Having a Mempool

2min

How to Filter Out Transactions on the Bitcoin Blockchain

1min

Bitcoin's High Fee Market

5min

The Importance of Low Fees in Bitcoin

2min

10.

The Cost of Operating a Node in Bitcoin

6min

11.

How to Increase the Size of Your Mempool

2min

12.

What Happens When a Transaction Gets Purged From the Mempool?

2min

13.

Bitcoin Core and the Consensus Rules

2min

14.

The Importance of RBF in a Fee Environment

2min

15.

The Different Trade-Offs of RBF

4min

16.

How to Use CPF P to Increase Fee Rates

2min

17.

The Advantages of RBF in Transaction Fee Market

2min

18.

How to RBF Multiple Transactions

2min

19.

The Full RBF Debate

2min

20.

The RBF Debate on Bitcoin Core

2min

21.

The Future of Bitcoin

3min

22.

BitRiffle's Zero Conf Is Not Secure

2min

23.

Lightning Explorer: A New Protocol for Interoperable, Batched on-Chain Payments

2min

24.

Bit Refill: The Most Successful Bitcoin Business

4min

25.

Bitcoin Lightning: A Freedom-Oriented Payment Protocol

6min

26.

The Benefits of Using a Blixed Wallet

2min

27.

The Future of Bitcoin Development

4min

28.

The Tradeoffs of Liquids

2min

29.

The Future of Lightning

3min

30.

The Importance of FEDIMINT in Cypherpunk

2min

31.

The Benefits of FEDIMINT

2min

32.

How to Use FEDIMINT to Get Started

2min

33.

The Rise of Stale Blocks in Bitcoin

2min

34.

The Problem With Mining Pools Blocking Templates

2min

35.

How to Optimize Your Mem Pool Space Software

2min

36.

Bitcoin's Unusable Status

4min

37.

How to Pre-Confirm Transactions

2min

38.

The Future of Bitcoin Mining

2min

39.

The Future of Bitcoin

3min

40.

Bitcoin Park: Final Thoughts

2min

41.

Bitcoin Park: The Open Source Stage

4min

(00:23:29) Pain points and improvements in the high fee market

(00:35:56) Transactions being purged from mempools

(00:41:19) Importance of wallets with RBF and CPFP features

(00:41:39) RBF (Replace-By-Fee) feature

(00:42:19) Limits and use cases of RBF and CPFP

(00:46:06) Efficiency of RBF in high fee markets

(01:18:39) Comparison between Bitcoin, Lightning, and Liquid

(01:19:30) The potential of Fedimint and its advantages

(01:26:11) Discussion on the reasons for stale blocks

(01:33:07) The possibility of mempools never clearing again

(01:37:08) The rise of out-of-band transactions and its implications

(01:43:56) Announcement of a big event on May 19th

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