DEFAULT_TRANSACTION_MAXFEE is 0.1 ₿ #31716

1. 
   murchandamus commented at 9:43 pm on January 22, 2025: contributor

   Please describe the feature you’d like to see added.

   I was reviewing a pull request, when I noticed that the DEFAULT_TRANSACTION_MAXFEE is set to 0.1×COIN.

   src/wallet/wallet.h:constexpr CAmount DEFAULT_TRANSACTION_MAXFEE{COIN / 10};

   Describe the solution you’d like

   It seems to me that given the current exchange rate we might want to lower that by about a magnitude.

2. murchandamus added the label Feature on Jan 22, 2025
3. 
   maflcko commented at 10:57 am on January 23, 2025: member

   It seems to me that given the current exchange rate we might want to lower that by about a magnitude.

   Wouldn’t that lead to issues in an extreme edge case when a max-sized transaction is sent during a high-fee period?

   I think historically the value has been picked so that it is never hit in practise at all (only when the fee truly seems off). Maybe turning it into a feerate may help, but I haven’t thought about this much.

   Also, in a greater picture, if the idea is to adjust fee config defaults based on the exchange rate, then #13990 should probably be picked up and all other fee defaults should be considered for adjustment as well?

4. maflcko added the label Wallet on Jan 23, 2025
5. maflcko added the label TX fees and policy on Jan 23, 2025
6. maflcko removed the label Feature on Jan 23, 2025
7. maflcko added the label Brainstorming on Jan 23, 2025
8. 
   murchandamus commented at 5:45 pm on January 23, 2025: contributor

   Yes, 100,000 vB × 1,000,000 ṩ/kvB = 1 ₿.

   However, it seems to me that sending a max sized transaction during a high-feerate period is something our users would be thankful about when it causes an error.

Contributors
murchandamus maflcko

Labels
Brainstorming Wallet TX fees and policy