Low Fees, PSBT, Neutrino & Merkle Trees ~ Bitcoin Op Tech #0

Okay, here's a summary of the 2018-12-10 WCN episode transcript, "Low Fees, PSBT, Neutrino & Merkle Trees ~ Bitcoin Op Tech #0," as requested:

1. Main Topics Discussed:

• Bitcoin Core 0.16.1 Release: A new release is coming soon with changes to relay policy and the removal of a legacy opcode (code separator).
• Low Transaction Fees: Increased hash rate is driving down fees, making it a good time for low-fee transactions. Discussion of very low-fee transactions and potential strategies.
• BIP 174 (Partially Signed Bitcoin Transactions - PSBT): Ongoing discussion and review of a standardized format for wallets to share unsigned/partially signed transactions.
• BIP 157 & 158 (Lightweight Client Filters): Discussion about filters for lightweight clients to efficiently check for relevant transactions.
• Private Key Serialization: Proposed changes to how private keys are transmitted, focusing on error resistance.
• Hash Mining Protocol: A new protocol proposed as a replacement for Stratum, aiming for better security and miner efficiency.
• Merkle Tree Optimization: Bitcoin Core merged an optimization to build Merkel trees up to seven times faster.

2. Key Quotes:

• "This BIP creates a standardized format for wallets to reliably share information related to unsigned and partially signed transactions."
• "This protocol has been in semi private development for some time and is just now being distributed."
• "It may be worth experimenting to determine whether these extremely low fees can be used for consolidations and other time incentive in draw wallet transfers."

3. People Mentioned:

• Optek team members
• Protocol developers
• Bitcoin Core contributors
• Developer and operator of the fiber network (used by most miners)

4. Bitcoin Price:

• The Bitcoin price is not mentioned in the transcript.

I hope this is helpful!