Merge #10817: Redefine Dust and add a discard_rate

f4d00e6 Add a discard_rate (Alex Morcos)
b138585 Remove factor of 3 from definition of dust. (Alex Morcos)

Pull request description:

  The definition of dust is redefined to remove the factor of 3.

  Dust is redefined to be the value of an output such that it would
  cost that value in fees to (create and) spend the output at the dust
  relay rate.  The previous definition was that it would cost 1/3 of the
  value.  The default dust relay rate is correspondingly increased to
  3000 sat/kB so the actual default dust output value of 546 satoshis
  for a non-segwit output remains unchanged.  This commit is a refactor
  only unless a dustrelayfee is passed on the commandline in which case
  that number now needs to be increased by a factor of 3 to get the same
  behavior.  -dustrelayfee is a hidden command line option.

  Note: It's not exactly a refactor due to edge case changes in rounding
  as evidenced by the required change to the unit test.

  A discard_rate is added which defaults to 10,000 sat/kB

  Any change output which would be dust at the discard_rate you are
  willing to discard completely and add to fee (as well as continuing to
  pay the fee that would have been needed for creating the change)

  This would be a nice addition for 0.15 and I think will remain useful for 0.16 with the new coin selection algorithms in discussion, but its not crucial.

  It does add translation strings, but we could (should?) avoid that by hiding the option

Tree-SHA512: 5b6f655354d0ab6b8b6cac1e8d1fe3136d10beb15c6d948fb15bfb105155a9d03684c6240624039b3eed6428b7e60e54216cc8b2f90c4600701e39f646284a9b

1 files changed, 29 insertions, 2 deletions

diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index c56fd05d7e..7a0aac5f53 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -57,6 +57,8 @@ CFeeRate CWallet::minTxFee = CFeeRate(DEFAULT_TRANSACTION_MINFEE);
  */
 CFeeRate CWallet::fallbackFee = CFeeRate(DEFAULT_FALLBACK_FEE);
 
+CFeeRate CWallet::m_discard_rate = CFeeRate(DEFAULT_DISCARD_FEE);
+
 const uint256 CMerkleTx::ABANDON_HASH(uint256S("0000000000000000000000000000000000000000000000000000000000000001"));
 
 /** @defgroup mapWallet
@@ -2524,6 +2526,17 @@ bool CWallet::FundTransaction(CMutableTransaction& tx, CAmount& nFeeRet, int& nC
     return true;
 }
 
+static CFeeRate GetDiscardRate(const CBlockPolicyEstimator& estimator)
+{
+    unsigned int highest_target = estimator.HighestTargetTracked(FeeEstimateHorizon::LONG_HALFLIFE);
+    CFeeRate discard_rate = estimator.estimateSmartFee(highest_target, nullptr /* FeeCalculation */, false /* conservative */);
+    // Don't let discard_rate be greater than longest possible fee estimate if we get a valid fee estimate
+    discard_rate = (discard_rate == CFeeRate(0)) ? CWallet::m_discard_rate : std::min(discard_rate, CWallet::m_discard_rate);
+    // Discard rate must be at least dustRelayFee
+    discard_rate = std::max(discard_rate, ::dustRelayFee);
+    return discard_rate;
+}
+
 bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletTx& wtxNew, CReserveKey& reservekey, CAmount& nFeeRet,
                                 int& nChangePosInOut, std::string& strFailReason, const CCoinControl& coin_control, bool sign)
 {
@@ -2623,6 +2636,7 @@ bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletT
             CTxOut change_prototype_txout(0, scriptChange);
             size_t change_prototype_size = GetSerializeSize(change_prototype_txout, SER_DISK, 0);
 
+            CFeeRate discard_rate = GetDiscardRate(::feeEstimator);
             nFeeRet = 0;
             bool pick_new_inputs = true;
             CAmount nValueIn = 0;
@@ -2690,7 +2704,7 @@ bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletT
 
                     // Never create dust outputs; if we would, just
                     // add the dust to the fee.
-                    if (IsDust(newTxOut, ::dustRelayFee))
+                    if (IsDust(newTxOut, discard_rate))
                     {
                         nChangePosInOut = -1;
                         nFeeRet += nChange;
@@ -2770,7 +2784,7 @@ bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletT
                     // (because of reduced tx size) and so we should add a
                     // change output. Only try this once.
                     CAmount fee_needed_for_change = GetMinimumFee(change_prototype_size, coin_control, ::mempool, ::feeEstimator, nullptr);
-                    CAmount minimum_value_for_change = GetDustThreshold(change_prototype_txout, ::dustRelayFee);
+                    CAmount minimum_value_for_change = GetDustThreshold(change_prototype_txout, discard_rate);
                     CAmount max_excess_fee = fee_needed_for_change + minimum_value_for_change;
                     if (nFeeRet > nFeeNeeded + max_excess_fee && nChangePosInOut == -1 && nSubtractFeeFromAmount == 0 && pick_new_inputs) {
                         pick_new_inputs = false;
@@ -3811,6 +3825,9 @@ std::string CWallet::GetWalletHelpString(bool showDebug)
     strUsage += HelpMessageOpt("-keypool=<n>", strprintf(_("Set key pool size to <n> (default: %u)"), DEFAULT_KEYPOOL_SIZE));
     strUsage += HelpMessageOpt("-fallbackfee=<amt>", strprintf(_("A fee rate (in %s/kB) that will be used when fee estimation has insufficient data (default: %s)"),
                                                                CURRENCY_UNIT, FormatMoney(DEFAULT_FALLBACK_FEE)));
+    strUsage += HelpMessageOpt("-discardfee=<amt>", strprintf(_("The fee rate (in %s/kB) used to discard change (to fee) if it would be dust at this fee rate (default: %s) "
+                                                                "Note: We will always discard up to the dust relay fee and a discard fee above that is limited by the longest target fee estimate"),
+                                                              CURRENCY_UNIT, FormatMoney(DEFAULT_DISCARD_FEE)));
     strUsage += HelpMessageOpt("-mintxfee=<amt>", strprintf(_("Fees (in %s/kB) smaller than this are considered zero fee for transaction creation (default: %s)"),
                                                             CURRENCY_UNIT, FormatMoney(DEFAULT_TRANSACTION_MINFEE)));
     strUsage += HelpMessageOpt("-paytxfee=<amt>", strprintf(_("Fee (in %s/kB) to add to transactions you send (default: %s)"),
@@ -4136,6 +4153,16 @@ bool CWallet::ParameterInteraction()
                         _("This is the transaction fee you may pay when fee estimates are not available."));
         CWallet::fallbackFee = CFeeRate(nFeePerK);
     }
+    if (IsArgSet("-discardfee"))
+    {
+        CAmount nFeePerK = 0;
+        if (!ParseMoney(GetArg("-discardfee", ""), nFeePerK))
+            return InitError(strprintf(_("Invalid amount for -discardfee=<amount>: '%s'"), GetArg("-discardfee", "")));
+        if (nFeePerK > HIGH_TX_FEE_PER_KB)
+            InitWarning(AmountHighWarn("-discardfee") + " " +
+                        _("This is the transaction fee you may discard if change is smaller than dust at this level"));
+        CWallet::m_discard_rate = CFeeRate(nFeePerK);
+    }
     if (IsArgSet("-paytxfee"))
     {
         CAmount nFeePerK = 0;