Use fee/priority estimates in wallet CreateTransaction
The wallet now uses the mempool fee estimator with a new command-line option: -txconfirmtarget (default: 1) instead of using hard-coded fees or priorities. A new bitcoind that hasn't seen enough transactions to estimate will fall back to the old hard-coded minimum priority or transaction fee. -paytxfee option overrides -txconfirmtarget. Relaying and mining code isn't changed. For Qt, the coin control dialog now uses priority estimates to label transaction priority (instead of hard-coded constants); unspent outputs were consistently labeled with a much higher priority than is justified by the free transactions actually being accepted into blocks. I did not implement any GUI for setting -txconfirmtarget; I would suggest getting rid of the "Pay transaction fee" GUI and replace it with either "target number of confirmations" or maybe a "faster confirmation <--> lower fee" slider or select box.
This commit is contained in:
Gavin Andresen
parent
29264a0a60
commit
b33d1f5ee5
9 changed files with 105 additions and 47 deletions
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@ -1,6 +1,26 @@
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(note: this is a temporary file, to be added-to by anybody, and moved to
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release-notes at release time)
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Transaction fee changes
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=======================
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This release automatically estimates how high a transaction fee (or how
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high a priority) transactions require to be confirmed quickly. The default
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settings will create transactions that confirm quickly; see the new
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'txconfirmtarget' setting to control the tradeoff between fees and
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confirmation times.
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Prior releases used hard-coded fees (and priorities), and would
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sometimes create transactions that took a very long time to confirm.
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New Command Line Options
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========================
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-txconfirmtarget=n : create transactions that have enough fees (or priority)
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so they are likely to confirm within n blocks (default: 1). This setting
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is over-ridden by the -paytxfee option.
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New RPC methods
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===============
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@ -131,7 +131,8 @@ public:
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friend bool operator<(const CFeeRate& a, const CFeeRate& b) { return a.nSatoshisPerK < b.nSatoshisPerK; }
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friend bool operator>(const CFeeRate& a, const CFeeRate& b) { return a.nSatoshisPerK > b.nSatoshisPerK; }
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friend bool operator==(const CFeeRate& a, const CFeeRate& b) { return a.nSatoshisPerK == b.nSatoshisPerK; }
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friend bool operator<=(const CFeeRate& a, const CFeeRate& b) { return a.nSatoshisPerK <= b.nSatoshisPerK; }
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friend bool operator>=(const CFeeRate& a, const CFeeRate& b) { return a.nSatoshisPerK >= b.nSatoshisPerK; }
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std::string ToString() const;
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IMPLEMENT_SERIALIZE( READWRITE(nSatoshisPerK); )
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@ -254,6 +254,7 @@ std::string HelpMessage(HelpMessageMode mode)
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strUsage += "\n" + _("Wallet options:") + "\n";
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strUsage += " -disablewallet " + _("Do not load the wallet and disable wallet RPC calls") + "\n";
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strUsage += " -paytxfee=<amt> " + strprintf(_("Fee (in BTC/kB) to add to transactions you send (default: %s)"), FormatMoney(payTxFee.GetFeePerK())) + "\n";
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strUsage += " -txconfirmtarget=<n> " + _("If paytxfee is not set, include enough fee so transactions are confirmed on average within n blocks (default: 1)") + "\n";
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strUsage += " -rescan " + _("Rescan the block chain for missing wallet transactions") + " " + _("on startup") + "\n";
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strUsage += " -salvagewallet " + _("Attempt to recover private keys from a corrupt wallet.dat") + " " + _("on startup") + "\n";
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strUsage += " -spendzeroconfchange " + _("Spend unconfirmed change when sending transactions (default: 1)") + "\n";
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@ -635,7 +636,13 @@ bool AppInit2(boost::thread_group& threadGroup)
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if (nFeePerK > nHighTransactionFeeWarning)
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InitWarning(_("Warning: -paytxfee is set very high! This is the transaction fee you will pay if you send a transaction."));
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payTxFee = CFeeRate(nFeePerK, 1000);
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if (payTxFee < CTransaction::minRelayTxFee)
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{
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return InitError(strprintf(_("Invalid amount for -paytxfee=<amount>: '%s' (must be at least %s)"),
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mapArgs["-paytxfee"], CTransaction::minRelayTxFee.ToString()));
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}
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}
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nTxConfirmTarget = GetArg("-txconfirmtarget", 1);
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bSpendZeroConfChange = GetArg("-spendzeroconfchange", true);
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std::string strWalletFile = GetArg("-wallet", "wallet.dat");
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13
src/main.cpp
13
src/main.cpp
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@ -858,7 +858,7 @@ bool CheckTransaction(const CTransaction& tx, CValidationState &state)
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return true;
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}
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int64_t GetMinFee(const CTransaction& tx, unsigned int nBytes, bool fAllowFree, enum GetMinFee_mode mode)
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int64_t GetMinRelayFee(const CTransaction& tx, unsigned int nBytes, bool fAllowFree)
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{
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{
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LOCK(mempool.cs);
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@ -870,10 +870,7 @@ int64_t GetMinFee(const CTransaction& tx, unsigned int nBytes, bool fAllowFree,
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return 0;
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}
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// Base fee is either minTxFee or minRelayTxFee
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CFeeRate baseFeeRate = (mode == GMF_RELAY) ? tx.minRelayTxFee : tx.minTxFee;
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int64_t nMinFee = baseFeeRate.GetFee(nBytes);
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int64_t nMinFee = tx.minRelayTxFee.GetFee(nBytes);
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if (fAllowFree)
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{
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@ -881,9 +878,7 @@ int64_t GetMinFee(const CTransaction& tx, unsigned int nBytes, bool fAllowFree,
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// * If we are relaying we allow transactions up to DEFAULT_BLOCK_PRIORITY_SIZE - 1000
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// to be considered to fall into this category. We don't want to encourage sending
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// multiple transactions instead of one big transaction to avoid fees.
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// * If we are creating a transaction we allow transactions up to 1,000 bytes
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// to be considered safe and assume they can likely make it into this section.
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if (nBytes < (mode == GMF_SEND ? 1000 : (DEFAULT_BLOCK_PRIORITY_SIZE - 1000)))
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if (nBytes < (DEFAULT_BLOCK_PRIORITY_SIZE - 1000))
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nMinFee = 0;
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}
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@ -1005,7 +1000,7 @@ bool AcceptToMemoryPool(CTxMemPool& pool, CValidationState &state, const CTransa
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unsigned int nSize = entry.GetTxSize();
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// Don't accept it if it can't get into a block
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int64_t txMinFee = GetMinFee(tx, nSize, true, GMF_RELAY);
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int64_t txMinFee = GetMinRelayFee(tx, nSize, true);
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if (fLimitFree && nFees < txMinFee)
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return state.DoS(0, error("AcceptToMemoryPool : not enough fees %s, %d < %d",
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hash.ToString(), nFees, txMinFee),
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@ -245,14 +245,7 @@ struct CDiskTxPos : public CDiskBlockPos
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};
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enum GetMinFee_mode
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{
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GMF_RELAY,
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GMF_SEND,
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};
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int64_t GetMinFee(const CTransaction& tx, unsigned int nBytes, bool fAllowFree, enum GetMinFee_mode mode);
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int64_t GetMinRelayFee(const CTransaction& tx, unsigned int nBytes, bool fAllowFree);
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//
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// Check transaction inputs, and make sure any
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@ -16,6 +16,8 @@
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#include "main.h"
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#include "wallet.h"
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#include <boost/assign/list_of.hpp> // for 'map_list_of()'
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#include <QApplication>
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#include <QCheckBox>
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#include <QCursor>
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@ -400,23 +402,24 @@ void CoinControlDialog::viewItemChanged(QTreeWidgetItem* item, int column)
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}
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// return human readable label for priority number
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QString CoinControlDialog::getPriorityLabel(double dPriority)
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QString CoinControlDialog::getPriorityLabel(const CTxMemPool& pool, double dPriority)
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{
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if (AllowFree(dPriority)) // at least medium
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// confirmations -> textual description
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typedef std::map<unsigned int, QString> PriorityDescription;
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static PriorityDescription priorityDescriptions = boost::assign::map_list_of
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(1, tr("highest"))(2, tr("higher"))(3, tr("high"))
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(5, tr("medium-high"))(6, tr("medium"))
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(10, tr("low-medium"))(15, tr("low"))
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(20, tr("lower"));
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BOOST_FOREACH(const PriorityDescription::value_type& i, priorityDescriptions)
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{
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if (AllowFree(dPriority / 1000000)) return tr("highest");
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else if (AllowFree(dPriority / 100000)) return tr("higher");
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else if (AllowFree(dPriority / 10000)) return tr("high");
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else if (AllowFree(dPriority / 1000)) return tr("medium-high");
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else return tr("medium");
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}
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else
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{
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if (AllowFree(dPriority * 10)) return tr("low-medium");
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else if (AllowFree(dPriority * 100)) return tr("low");
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else if (AllowFree(dPriority * 1000)) return tr("lower");
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else return tr("lowest");
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double p = mempool.estimatePriority(i.first);
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if (p > 0 && dPriority >= p) return i.second;
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}
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// Note: if mempool hasn't accumulated enough history (estimatePriority
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// returns -1) we're conservative and classify as "lowest"
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return tr("lowest");
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}
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// shows count of locked unspent outputs
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@ -518,15 +521,20 @@ void CoinControlDialog::updateLabels(WalletModel *model, QDialog* dialog)
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// Priority
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dPriority = dPriorityInputs / (nBytes - nBytesInputs + (nQuantityUncompressed * 29)); // 29 = 180 - 151 (uncompressed public keys are over the limit. max 151 bytes of the input are ignored for priority)
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sPriorityLabel = CoinControlDialog::getPriorityLabel(dPriority);
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sPriorityLabel = CoinControlDialog::getPriorityLabel(mempool, dPriority);
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// Fee
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int64_t nFee = payTxFee.GetFee(max((unsigned int)1000, nBytes));
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// Min Fee
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int64_t nMinFee = GetMinFee(txDummy, nBytes, AllowFree(dPriority), GMF_SEND);
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nPayFee = CWallet::GetMinimumFee(nBytes, nTxConfirmTarget, mempool);
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nPayFee = max(nFee, nMinFee);
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double dPriorityNeeded = mempool.estimatePriority(nTxConfirmTarget);
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if (dPriorityNeeded <= 0) // Not enough mempool history: never send free
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dPriorityNeeded = std::numeric_limits<double>::max();
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if (nBytes <= MAX_FREE_TRANSACTION_CREATE_SIZE && dPriority >= dPriorityNeeded)
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nPayFee = 0;
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if (nPayAmount > 0)
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{
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@ -591,7 +599,7 @@ void CoinControlDialog::updateLabels(WalletModel *model, QDialog* dialog)
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}
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// turn labels "red"
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l5->setStyleSheet((nBytes >= 1000) ? "color:red;" : ""); // Bytes >= 1000
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l5->setStyleSheet((nBytes >= MAX_FREE_TRANSACTION_CREATE_SIZE) ? "color:red;" : "");// Bytes >= 1000
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l6->setStyleSheet((dPriority > 0 && !AllowFree(dPriority)) ? "color:red;" : ""); // Priority < "medium"
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l7->setStyleSheet((fDust) ? "color:red;" : ""); // Dust = "yes"
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@ -732,7 +740,7 @@ void CoinControlDialog::updateView()
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// priority
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double dPriority = ((double)out.tx->vout[out.i].nValue / (nInputSize + 78)) * (out.nDepth+1); // 78 = 2 * 34 + 10
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itemOutput->setText(COLUMN_PRIORITY, CoinControlDialog::getPriorityLabel(dPriority));
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itemOutput->setText(COLUMN_PRIORITY, CoinControlDialog::getPriorityLabel(mempool, dPriority));
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itemOutput->setText(COLUMN_PRIORITY_INT64, strPad(QString::number((int64_t)dPriority), 20, " "));
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dPrioritySum += (double)out.tx->vout[out.i].nValue * (out.nDepth+1);
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nInputSum += nInputSize;
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@ -765,7 +773,7 @@ void CoinControlDialog::updateView()
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itemWalletAddress->setText(COLUMN_CHECKBOX, "(" + QString::number(nChildren) + ")");
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itemWalletAddress->setText(COLUMN_AMOUNT, BitcoinUnits::format(nDisplayUnit, nSum));
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itemWalletAddress->setText(COLUMN_AMOUNT_INT64, strPad(QString::number(nSum), 15, " "));
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itemWalletAddress->setText(COLUMN_PRIORITY, CoinControlDialog::getPriorityLabel(dPrioritySum));
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itemWalletAddress->setText(COLUMN_PRIORITY, CoinControlDialog::getPriorityLabel(mempool, dPrioritySum));
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itemWalletAddress->setText(COLUMN_PRIORITY_INT64, strPad(QString::number((int64_t)dPrioritySum), 20, " "));
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}
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}
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@ -19,6 +19,7 @@ namespace Ui {
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}
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class WalletModel;
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class CCoinControl;
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class CTxMemPool;
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class CoinControlDialog : public QDialog
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{
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@ -32,7 +33,7 @@ public:
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// static because also called from sendcoinsdialog
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static void updateLabels(WalletModel*, QDialog*);
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static QString getPriorityLabel(double);
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static QString getPriorityLabel(const CTxMemPool& pool, double);
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static QList<qint64> payAmounts;
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static CCoinControl *coinControl;
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@ -18,6 +18,7 @@ using namespace std;
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// Settings
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CFeeRate payTxFee(DEFAULT_TRANSACTION_FEE);
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unsigned int nTxConfirmTarget = 1;
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bool bSpendZeroConfChange = true;
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//////////////////////////////////////////////////////////////////////////////
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@ -1273,6 +1274,7 @@ bool CWallet::CreateTransaction(const vector<pair<CScript, int64_t> >& vecSend,
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return false;
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}
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wtxNew.fTimeReceivedIsTxTime = true;
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wtxNew.BindWallet(this);
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CMutableTransaction txNew;
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@ -1393,19 +1395,31 @@ bool CWallet::CreateTransaction(const vector<pair<CScript, int64_t> >& vecSend,
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}
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dPriority = wtxNew.ComputePriority(dPriority, nBytes);
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// Check that enough fee is included
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int64_t nPayFee = payTxFee.GetFee(nBytes);
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bool fAllowFree = AllowFree(dPriority);
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int64_t nMinFee = GetMinFee(wtxNew, nBytes, fAllowFree, GMF_SEND);
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if (nFeeRet < max(nPayFee, nMinFee))
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int64_t nFeeNeeded = GetMinimumFee(nBytes, nTxConfirmTarget, mempool);
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if (nFeeRet >= nFeeNeeded)
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break; // Done, enough fee included.
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// Too big to send for free? Include more fee and try again:
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if (nBytes > MAX_FREE_TRANSACTION_CREATE_SIZE)
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{
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nFeeRet = max(nPayFee, nMinFee);
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nFeeRet = nFeeNeeded;
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continue;
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}
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wtxNew.fTimeReceivedIsTxTime = true;
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// Not enough fee: enough priority?
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double dPriorityNeeded = mempool.estimatePriority(nTxConfirmTarget);
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// Not enough mempool history to estimate: use hard-coded AllowFree.
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if (dPriorityNeeded <= 0 && AllowFree(dPriority))
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break;
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break;
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// Small enough, and priority high enough, to send for free
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if (dPriority >= dPriorityNeeded)
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break;
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// Include more fee and try again.
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nFeeRet = nFeeNeeded;
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continue;
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}
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}
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}
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@ -1513,6 +1527,20 @@ string CWallet::SendMoneyToDestination(const CTxDestination& address, int64_t nV
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return SendMoney(scriptPubKey, nValue, wtxNew);
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}
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int64_t CWallet::GetMinimumFee(unsigned int nTxBytes, unsigned int nConfirmTarget, const CTxMemPool& pool)
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{
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// payTxFee is user-set "I want to pay this much"
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int64_t nFeeNeeded = payTxFee.GetFee(nTxBytes);
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// User didn't set: use -txconfirmtarget to estimate...
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if (nFeeNeeded == 0)
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nFeeNeeded = pool.estimateFee(nConfirmTarget).GetFee(nTxBytes);
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// ... unless we don't have enough mempool data, in which case fall
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// back to a hard-coded fee
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if (nFeeNeeded == 0)
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nFeeNeeded = CTransaction::minTxFee.GetFee(nTxBytes);
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return nFeeNeeded;
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}
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@ -25,12 +25,15 @@
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// Settings
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extern CFeeRate payTxFee;
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extern unsigned int nTxConfirmTarget;
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extern bool bSpendZeroConfChange;
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// -paytxfee default
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static const int64_t DEFAULT_TRANSACTION_FEE = 0;
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// -paytxfee will warn if called with a higher fee than this amount (in satoshis) per KB
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static const int nHighTransactionFeeWarning = 0.01 * COIN;
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// Largest (in bytes) free transaction we're willing to create
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static const unsigned int MAX_FREE_TRANSACTION_CREATE_SIZE = 1000;
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class CAccountingEntry;
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class CCoinControl;
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@ -265,6 +268,8 @@ public:
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std::string SendMoney(CScript scriptPubKey, int64_t nValue, CWalletTx& wtxNew);
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std::string SendMoneyToDestination(const CTxDestination &address, int64_t nValue, CWalletTx& wtxNew);
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static int64_t GetMinimumFee(unsigned int nTxBytes, unsigned int nConfirmTarget, const CTxMemPool& pool);
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bool NewKeyPool();
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bool TopUpKeyPool(unsigned int kpSize = 0);
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void ReserveKeyFromKeyPool(int64_t& nIndex, CKeyPool& keypool);
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