[bitcoin-dev] On-going work: Coin Selection Simulation

Daniel Weigl Daniel.Weigl at mycelium.com
Thu Sep 22 09:33:18 UTC 2016


Is your simulation code available somewhere?

I was just wondering why mycelium generates a very big UTXO set for <1000sat, because change outputs will never be smaller than 
5460sat (=TransactionUtils.MINIMUM_OUTPUT_VALUE). If the change would be lower, it simply is skipped and added to the miner fee:
	-> https://github.com/mycelium-com/wallet/blob/master/public/bitlib/src/main/java/com/mrd/bitlib/StandardTransactionBuilder.java#L334

Does your simulation account for that?

It might also be that the small UTXO came from external tx and we never spend them, bec. of pruning/privacy. Not sure how we could optimize that.


On 2016-09-21 14:58, Murch via bitcoin-dev wrote:
> Hi,
> I'm currently compiling my Master's thesis about Coin Selection and my
> presentation proposal to Scaling Bitcoin has been accepted.
> For my thesis, I have analyzed the Coin Selection problem, created a
> framework to simulate wallet behavior on basis of a sequence of
> payments, and have re-implemented multiple coin selection strategies of
> prominent Bitcoin wallets (Bitcoin Core, Mycelium, Breadwallet, and
> Android Wallet for Bitcoin).
> As the Scaling Bitcoin site suggests that research should be made
> available to this mailing list, I would like to invite you to have a
> look at:
> http://murch.one/wp-content/uploads/2016/09/CoinSelection.pdf
> The PDF (176 kB) contains a two page description of my on-going work,
> including preliminary simulation results, and three figures showing the
> simulated wallets' UTXO compositions at the end of the simulation.
> I can provide further information as requested, and would welcome any
> feedback.
> →→ If anyone has another sequence of incoming and outgoing payment
> amounts at hand that I could run my simulation on, I'd love to hear
> about it.
> Regards
> Murch
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