diff --git a/p2p/net/swarm/addr/addr.go b/p2p/net/swarm/addr/addr.go
index 1e22bae261..d9ba87216a 100644
--- a/p2p/net/swarm/addr/addr.go
+++ b/p2p/net/swarm/addr/addr.go
@@ -40,12 +40,16 @@ func init() {
 	SupportedTransportProtocols = transports
 }
 
-// FilterAddrs is a filter that removes certain addresses, according to filter.
-// if filter returns true, the address is kept.
-func FilterAddrs(a []ma.Multiaddr, filter func(ma.Multiaddr) bool) []ma.Multiaddr {
+// FilterAddrs is a filter that removes certain addresses, according the given filters.
+// if all filters return true, the address is kept.
+func FilterAddrs(a []ma.Multiaddr, filters ...func(ma.Multiaddr) bool) []ma.Multiaddr {
 	b := make([]ma.Multiaddr, 0, len(a))
 	for _, addr := range a {
-		if filter(addr) {
+		good := true
+		for _, filter := range filters {
+			good = good && filter(addr)
+		}
+		if good {
 			b = append(b, addr)
 		}
 	}
@@ -56,9 +60,11 @@ func FilterAddrs(a []ma.Multiaddr, filter func(ma.Multiaddr) bool) []ma.Multiadd
 // from a list. the addresses removed are those known NOT
 // to work with our network. Namely, addresses with UTP.
 func FilterUsableAddrs(a []ma.Multiaddr) []ma.Multiaddr {
-	return FilterAddrs(a, func(m ma.Multiaddr) bool {
-		return AddrUsable(m, false)
-	})
+	return FilterAddrs(a, AddrUsableFunc)
+}
+
+func AddrUsableFunc(m ma.Multiaddr) bool {
+	return AddrUsable(m, false)
 }
 
 // AddrOverNonLocalIP returns whether the addr uses a non-local ip link
diff --git a/p2p/net/swarm/addr/filter.go b/p2p/net/swarm/addr/filter.go
new file mode 100644
index 0000000000..d87ba816a7
--- /dev/null
+++ b/p2p/net/swarm/addr/filter.go
@@ -0,0 +1,31 @@
+package addrutil
+
+import (
+	ma "github.com/jbenet/go-multiaddr"
+	mafmt "github.com/whyrusleeping/mafmt"
+)
+
+// SubtractFilter returns a filter func that filters all of the given addresses
+func SubtractFilter(addrs ...ma.Multiaddr) func(ma.Multiaddr) bool {
+	addrmap := make(map[string]bool)
+	for _, a := range addrs {
+		addrmap[string(a.Bytes())] = true
+	}
+
+	return func(a ma.Multiaddr) bool {
+		return !addrmap[string(a.Bytes())]
+	}
+}
+
+// IsFDCostlyTransport returns true for transports that require a new file
+// descriptor per connection created
+func IsFDCostlyTransport(a ma.Multiaddr) bool {
+	return mafmt.TCP.Matches(a)
+}
+
+// FilterNeg returns a negated version of the passed in filter
+func FilterNeg(f func(ma.Multiaddr) bool) func(ma.Multiaddr) bool {
+	return func(a ma.Multiaddr) bool {
+		return !f(a)
+	}
+}
diff --git a/p2p/net/swarm/dial_test.go b/p2p/net/swarm/dial_test.go
index 988f7f7f01..aea0f728cc 100644
--- a/p2p/net/swarm/dial_test.go
+++ b/p2p/net/swarm/dial_test.go
@@ -2,7 +2,6 @@ package swarm
 
 import (
 	"net"
-	"sort"
 	"sync"
 	"testing"
 	"time"
@@ -493,38 +492,3 @@ func TestDialBackoffClears(t *testing.T) {
 		t.Log("correctly cleared backoff")
 	}
 }
-
-func mkAddr(t *testing.T, s string) ma.Multiaddr {
-	a, err := ma.NewMultiaddr(s)
-	if err != nil {
-		t.Fatal(err)
-	}
-
-	return a
-}
-
-func TestAddressSorting(t *testing.T) {
-	u1 := mkAddr(t, "/ip4/152.12.23.53/udp/1234/utp")
-	u2l := mkAddr(t, "/ip4/127.0.0.1/udp/1234/utp")
-	local := mkAddr(t, "/ip4/127.0.0.1/tcp/1234")
-	norm := mkAddr(t, "/ip4/6.5.4.3/tcp/1234")
-
-	l := AddrList{local, u1, u2l, norm}
-	sort.Sort(l)
-
-	if !l[0].Equal(u2l) {
-		t.Fatal("expected utp local addr to be sorted first: ", l[0])
-	}
-
-	if !l[1].Equal(u1) {
-		t.Fatal("expected utp addr to be sorted second")
-	}
-
-	if !l[2].Equal(local) {
-		t.Fatal("expected tcp localhost addr thid")
-	}
-
-	if !l[3].Equal(norm) {
-		t.Fatal("expected normal addr last")
-	}
-}
diff --git a/p2p/net/swarm/limiter.go b/p2p/net/swarm/limiter.go
new file mode 100644
index 0000000000..94ce05bb86
--- /dev/null
+++ b/p2p/net/swarm/limiter.go
@@ -0,0 +1,160 @@
+package swarm
+
+import (
+	"sync"
+
+	peer "github.com/ipfs/go-libp2p-peer"
+	ma "github.com/jbenet/go-multiaddr"
+	context "golang.org/x/net/context"
+
+	conn "github.com/ipfs/go-libp2p/p2p/net/conn"
+	addrutil "github.com/ipfs/go-libp2p/p2p/net/swarm/addr"
+)
+
+type dialResult struct {
+	Conn conn.Conn
+	Err  error
+}
+
+type dialJob struct {
+	addr    ma.Multiaddr
+	peer    peer.ID
+	ctx     context.Context
+	resp    chan dialResult
+	success bool
+}
+
+func (dj *dialJob) cancelled() bool {
+	select {
+	case <-dj.ctx.Done():
+		return true
+	default:
+		return false
+	}
+}
+
+type dialLimiter struct {
+	rllock      sync.Mutex
+	fdConsuming int
+	fdLimit     int
+	waitingOnFd []*dialJob
+
+	dialFunc func(context.Context, peer.ID, ma.Multiaddr) (conn.Conn, error)
+
+	activePerPeer      map[peer.ID]int
+	perPeerLimit       int
+	waitingOnPeerLimit map[peer.ID][]*dialJob
+}
+
+type dialfunc func(context.Context, peer.ID, ma.Multiaddr) (conn.Conn, error)
+
+func newDialLimiter(df dialfunc) *dialLimiter {
+	return newDialLimiterWithParams(df, concurrentFdDials, defaultPerPeerRateLimit)
+}
+
+func newDialLimiterWithParams(df dialfunc, fdl, ppl int) *dialLimiter {
+	return &dialLimiter{
+		fdLimit:            fdl,
+		perPeerLimit:       ppl,
+		waitingOnPeerLimit: make(map[peer.ID][]*dialJob),
+		activePerPeer:      make(map[peer.ID]int),
+		dialFunc:           df,
+	}
+}
+
+func (dl *dialLimiter) finishedDial(dj *dialJob) {
+	dl.rllock.Lock()
+	defer dl.rllock.Unlock()
+
+	if addrutil.IsFDCostlyTransport(dj.addr) {
+		dl.fdConsuming--
+		if len(dl.waitingOnFd) > 0 {
+			next := dl.waitingOnFd[0]
+			dl.waitingOnFd = dl.waitingOnFd[1:]
+			if len(dl.waitingOnFd) == 0 {
+				dl.waitingOnFd = nil // clear out memory
+			}
+			dl.fdConsuming++
+
+			go dl.executeDial(next)
+		}
+	}
+
+	// release tokens in reverse order than we take them
+	dl.activePerPeer[dj.peer]--
+	if dl.activePerPeer[dj.peer] == 0 {
+		delete(dl.activePerPeer, dj.peer)
+	}
+
+	waitlist := dl.waitingOnPeerLimit[dj.peer]
+	if !dj.success && len(waitlist) > 0 {
+		next := waitlist[0]
+		if len(waitlist) == 1 {
+			delete(dl.waitingOnPeerLimit, dj.peer)
+		} else {
+			dl.waitingOnPeerLimit[dj.peer] = waitlist[1:]
+		}
+		dl.activePerPeer[dj.peer]++ // just kidding, we still want this token
+
+		// can kick this off right here, dials in this list already
+		// have the other tokens needed
+		go dl.executeDial(next)
+	}
+
+}
+
+// AddDialJob tries to take the needed tokens for starting the given dial job.
+// If it acquires all needed tokens, it immediately starts the dial, otherwise
+// it will put it on the waitlist for the requested token.
+func (dl *dialLimiter) AddDialJob(dj *dialJob) {
+	dl.rllock.Lock()
+	defer dl.rllock.Unlock()
+
+	if dl.activePerPeer[dj.peer] >= dl.perPeerLimit {
+		wlist := dl.waitingOnPeerLimit[dj.peer]
+		dl.waitingOnPeerLimit[dj.peer] = append(wlist, dj)
+		return
+	}
+	dl.activePerPeer[dj.peer]++
+
+	if addrutil.IsFDCostlyTransport(dj.addr) {
+		if dl.fdConsuming >= dl.fdLimit {
+			dl.waitingOnFd = append(dl.waitingOnFd, dj)
+			return
+		}
+
+		// take token
+		dl.fdConsuming++
+	}
+
+	// take second needed token and start dial!
+	go dl.executeDial(dj)
+}
+
+func (dl *dialLimiter) schedulePerPeerDial(j *dialJob) {
+	if dl.activePerPeer[j.peer] >= dl.perPeerLimit {
+		wlist := dl.waitingOnPeerLimit[j.peer]
+		dl.waitingOnPeerLimit[j.peer] = append(wlist, j)
+		return
+	}
+
+	// take second needed token and start dial!
+	dl.activePerPeer[j.peer]++
+	go dl.executeDial(j)
+}
+
+// executeDial calls the dialFunc, and reports the result through the response
+// channel when finished. Once the response is sent it also releases all tokens
+// it held during the dial.
+func (dl *dialLimiter) executeDial(j *dialJob) {
+	defer dl.finishedDial(j)
+	if j.cancelled() {
+		return
+	}
+
+	con, err := dl.dialFunc(j.ctx, j.peer, j.addr)
+	select {
+	case j.resp <- dialResult{Conn: con, Err: err}:
+	case <-j.ctx.Done():
+	}
+}
diff --git a/p2p/net/swarm/limiter_test.go b/p2p/net/swarm/limiter_test.go
new file mode 100644
index 0000000000..28733c5ab5
--- /dev/null
+++ b/p2p/net/swarm/limiter_test.go
@@ -0,0 +1,315 @@
+package swarm
+
+import (
+	"fmt"
+	"math/rand"
+	"strconv"
+	"testing"
+	"time"
+
+	peer "github.com/ipfs/go-libp2p-peer"
+	ma "github.com/jbenet/go-multiaddr"
+	mafmt "github.com/whyrusleeping/mafmt"
+	context "golang.org/x/net/context"
+
+	conn "github.com/ipfs/go-libp2p/p2p/net/conn"
+)
+
+func mustAddr(t *testing.T, s string) ma.Multiaddr {
+	a, err := ma.NewMultiaddr(s)
+	if err != nil {
+		t.Fatal(err)
+	}
+	return a
+}
+
+func addrWithPort(t *testing.T, p int) ma.Multiaddr {
+	return mustAddr(t, fmt.Sprintf("/ip4/127.0.0.1/tcp/%d", p))
+}
+
+// in these tests I use addresses with tcp ports over a certain number to
+// signify 'good' addresses that will succeed, and addresses below that number
+// will fail. This lets us more easily test these different scenarios.
+func tcpPortOver(a ma.Multiaddr, n int) bool {
+	port, err := a.ValueForProtocol(ma.P_TCP)
+	if err != nil {
+		panic(err)
+	}
+
+	pnum, err := strconv.Atoi(port)
+	if err != nil {
+		panic(err)
+	}
+
+	return pnum > n
+}
+
+func tryDialAddrs(ctx context.Context, l *dialLimiter, p peer.ID, addrs []ma.Multiaddr, res chan dialResult) {
+	for _, a := range addrs {
+		l.AddDialJob(&dialJob{
+			ctx:  ctx,
+			peer: p,
+			addr: a,
+			resp: res,
+		})
+	}
+}
+
+func hangDialFunc(hang chan struct{}) dialfunc {
+	return func(ctx context.Context, p peer.ID, a ma.Multiaddr) (conn.Conn, error) {
+		if mafmt.UTP.Matches(a) {
+			return conn.Conn(nil), nil
+		}
+
+		if tcpPortOver(a, 10) {
+			return conn.Conn(nil), nil
+		} else {
+			<-hang
+			return nil, fmt.Errorf("test bad dial")
+		}
+	}
+}
+
+func TestLimiterBasicDials(t *testing.T) {
+	hang := make(chan struct{})
+	defer close(hang)
+
+	l := newDialLimiterWithParams(hangDialFunc(hang), concurrentFdDials, 4)
+
+	bads := []ma.Multiaddr{addrWithPort(t, 1), addrWithPort(t, 2), addrWithPort(t, 3), addrWithPort(t, 4)}
+	good := addrWithPort(t, 20)
+
+	resch := make(chan dialResult)
+	pid := peer.ID("testpeer")
+	ctx, cancel := context.WithCancel(context.Background())
+	defer cancel()
+
+	tryDialAddrs(ctx, l, pid, bads, resch)
+
+	l.AddDialJob(&dialJob{
+		ctx:  ctx,
+		peer: pid,
+		addr: good,
+		resp: resch,
+	})
+
+	select {
+	case <-resch:
+		t.Fatal("no dials should have completed!")
+	case <-time.After(time.Millisecond * 100):
+	}
+
+	// complete a single hung dial
+	hang <- struct{}{}
+
+	select {
+	case r := <-resch:
+		if r.Err == nil {
+			t.Fatal("should have gotten failed dial result")
+		}
+	case <-time.After(time.Second):
+		t.Fatal("timed out waiting for dial completion")
+	}
+
+	select {
+	case r := <-resch:
+		if r.Err != nil {
+			t.Fatal("expected second result to be success!")
+		}
+	case <-time.After(time.Second):
+	}
+}
+
+func TestFDLimiting(t *testing.T) {
+	hang := make(chan struct{})
+	defer close(hang)
+	l := newDialLimiterWithParams(hangDialFunc(hang), 16, 5)
+
+	bads := []ma.Multiaddr{addrWithPort(t, 1), addrWithPort(t, 2), addrWithPort(t, 3), addrWithPort(t, 4)}
+	pids := []peer.ID{"testpeer1", "testpeer2", "testpeer3", "testpeer4"}
+	good_tcp := addrWithPort(t, 20)
+
+	ctx := context.Background()
+	resch := make(chan dialResult)
+
+	// take all fd limit tokens with hang dials
+	for _, pid := range pids {
+		tryDialAddrs(ctx, l, pid, bads, resch)
+	}
+
+	// these dials should work normally, but will hang because we have taken
+	// up all the fd limiting
+	for _, pid := range pids {
+		l.AddDialJob(&dialJob{
+			ctx:  ctx,
+			peer: pid,
+			addr: good_tcp,
+			resp: resch,
+		})
+	}
+
+	select {
+	case <-resch:
+		t.Fatal("no dials should have completed!")
+	case <-time.After(time.Millisecond * 100):
+	}
+
+	pid5 := peer.ID("testpeer5")
+	utpaddr := mustAddr(t, "/ip4/127.0.0.1/udp/7777/utp")
+
+	// This should complete immediately since utp addresses arent blocked by fd rate limiting
+	l.AddDialJob(&dialJob{ctx: ctx, peer: pid5, addr: utpaddr, resp: resch})
+
+	select {
+	case res := <-resch:
+		if res.Err != nil {
+			t.Fatal("should have gotten successful response")
+		}
+	case <-time.After(time.Second * 5):
+		t.Fatal("timeout waiting for utp addr success")
+	}
+}
+
+func TestTokenRedistribution(t *testing.T) {
+	hangchs := make(map[peer.ID]chan struct{})
+	df := func(ctx context.Context, p peer.ID, a ma.Multiaddr) (conn.Conn, error) {
+		if tcpPortOver(a, 10) {
+			return (conn.Conn)(nil), nil
+		} else {
+			<-hangchs[p]
+			return nil, fmt.Errorf("test bad dial")
+		}
+	}
+	l := newDialLimiterWithParams(df, 8, 4)
+
+	bads := []ma.Multiaddr{addrWithPort(t, 1), addrWithPort(t, 2), addrWithPort(t, 3), addrWithPort(t, 4)}
+	pids := []peer.ID{"testpeer1", "testpeer2"}
+
+	ctx := context.Background()
+	resch := make(chan dialResult)
+
+	// take all fd limit tokens with hang dials
+	for _, pid := range pids {
+		hangchs[pid] = make(chan struct{})
+		tryDialAddrs(ctx, l, pid, bads, resch)
+	}
+
+	good := mustAddr(t, "/ip4/127.0.0.1/tcp/1001")
+
+	// add a good dial job for peer 1
+	l.AddDialJob(&dialJob{
+		ctx:  ctx,
+		peer: pids[1],
+		addr: good,
+		resp: resch,
+	})
+
+	select {
+	case <-resch:
+		t.Fatal("no dials should have completed!")
+	case <-time.After(time.Millisecond * 100):
+	}
+
+	// unblock one dial for peer 0
+	hangchs[pids[0]] <- struct{}{}
+
+	select {
+	case res := <-resch:
+		if res.Err == nil {
+			t.Fatal("should have only been a failure here")
+		}
+	case <-time.After(time.Millisecond * 100):
+		t.Fatal("expected a dial failure here")
+	}
+
+	select {
+	case <-resch:
+		t.Fatal("no more dials should have completed!")
+	case <-time.After(time.Millisecond * 100):
+	}
+
+	// add a bad dial job to peer 0 to fill their rate limiter
+	// and test that more dials for this peer won't interfere with peer 1's successful dial incoming
+	l.AddDialJob(&dialJob{
+		ctx:  ctx,
+		peer: pids[0],
+		addr: addrWithPort(t, 7),
+		resp: resch,
+	})
+
+	hangchs[pids[1]] <- struct{}{}
+
+	// now one failed dial from peer 1 should get through and fail
+	// which will in turn unblock the successful dial on peer 1
+	select {
+	case res := <-resch:
+		if res.Err == nil {
+			t.Fatal("should have only been a failure here")
+		}
+	case <-time.After(time.Millisecond * 100):
+		t.Fatal("expected a dial failure here")
+	}
+
+	select {
+	case res := <-resch:
+		if res.Err != nil {
+			t.Fatal("should have succeeded!")
+		}
+	case <-time.After(time.Millisecond * 100):
+		t.Fatal("should have gotten successful dial")
+	}
+}
+
+func TestStressLimiter(t *testing.T) {
+	df := func(ctx context.Context, p peer.ID, a ma.Multiaddr) (conn.Conn, error) {
+		if tcpPortOver(a, 1000) {
+			return conn.Conn(nil), nil
+		} else {
+			time.Sleep(time.Millisecond * time.Duration(5+rand.Intn(100)))
+			return nil, fmt.Errorf("test bad dial")
+		}
+	}
+
+	l := newDialLimiterWithParams(df, 20, 5)
+
+	var bads []ma.Multiaddr
+	for i := 0; i < 100; i++ {
+		bads = append(bads, addrWithPort(t, i))
+	}
+
+	addresses := append(bads, addrWithPort(t, 2000))
+	success := make(chan struct{})
+
+	for i := 0; i < 20; i++ {
+		go func(id peer.ID) {
+			ctx, cancel := context.WithCancel(context.Background())
+			defer cancel()
+
+			resp := make(chan dialResult)
+			time.Sleep(time.Duration(rand.Intn(10)) * time.Millisecond)
+			for _, i := range rand.Perm(len(addresses)) {
+				l.AddDialJob(&dialJob{
+					addr: addresses[i],
+					ctx:  ctx,
+					peer: id,
+					resp: resp,
+				})
+			}
+
+			for res := range resp {
+				if res.Err == nil {
+					success <- struct{}{}
+					return
+				}
+			}
+		}(peer.ID(fmt.Sprintf("testpeer%d", i)))
+	}
+
+	for i := 0; i < 20; i++ {
+		select {
+		case <-success:
+		case <-time.After(time.Second * 5):
+			t.Fatal("expected a success within five seconds")
+		}
+	}
+}
diff --git a/p2p/net/swarm/swarm.go b/p2p/net/swarm/swarm.go
index 74e43dde44..54dd903056 100644
--- a/p2p/net/swarm/swarm.go
+++ b/p2p/net/swarm/swarm.go
@@ -90,6 +90,8 @@ type Swarm struct {
 	proc goprocess.Process
 	ctx  context.Context
 	bwc  metrics.Reporter
+
+	limiter *dialLimiter
 }
 
 // NewSwarm constructs a Swarm, with a Chan.
@@ -122,6 +124,8 @@ func NewSwarm(ctx context.Context, listenAddrs []ma.Multiaddr,
 		dialer:      conn.NewDialer(local, peers.PrivKey(local), wrap),
 	}
 
+	s.limiter = newDialLimiter(s.dialAddr)
+
 	// configure Swarm
 	s.proc = goprocessctx.WithContextAndTeardown(ctx, s.teardown)
 	s.SetConnHandler(nil) // make sure to setup our own conn handler.
@@ -155,6 +159,7 @@ func filterAddrs(listenAddrs []ma.Multiaddr) ([]ma.Multiaddr, error) {
 		}
 		listenAddrs = filtered
 	}
+
 	return listenAddrs, nil
 }
 
diff --git a/p2p/net/swarm/swarm_dial.go b/p2p/net/swarm/swarm_dial.go
index aa4a3514b4..1100ca544d 100644
--- a/p2p/net/swarm/swarm_dial.go
+++ b/p2p/net/swarm/swarm_dial.go
@@ -1,10 +1,8 @@
 package swarm
 
 import (
-	"bytes"
 	"errors"
 	"fmt"
-	"sort"
 	"sync"
 	"time"
 
@@ -13,7 +11,6 @@ import (
 	conn "github.com/ipfs/go-libp2p/p2p/net/conn"
 	addrutil "github.com/ipfs/go-libp2p/p2p/net/swarm/addr"
 	ma "github.com/jbenet/go-multiaddr"
-	"github.com/jbenet/go-multiaddr-net"
 	context "golang.org/x/net/context"
 )
 
@@ -42,6 +39,9 @@ const dialAttempts = 1
 // number of concurrent outbound dials over transports that consume file descriptors
 const concurrentFdDials = 160
 
+// number of concurrent outbound dials to make per peer
+const defaultPerPeerRateLimit = 8
+
 // DialTimeout is the amount of time each dial attempt has. We can think about making
 // this larger down the road, or putting more granular timeouts (i.e. within each
 // subcomponent of Dial)
@@ -319,32 +319,40 @@ func (s *Swarm) dial(ctx context.Context, p peer.ID) (*Conn, error) {
 		log.Debug("Dial not given PrivateKey, so WILL NOT SECURE conn.")
 	}
 
-	// get remote peer addrs
-	remoteAddrs := s.peers.Addrs(p)
-	// make sure we can use the addresses.
-	remoteAddrs = addrutil.FilterUsableAddrs(remoteAddrs)
-	// drop out any addrs that would just dial ourselves. use ListenAddresses
-	// as that is a more authoritative view than localAddrs.
 	ila, _ := s.InterfaceListenAddresses()
-	remoteAddrs = addrutil.Subtract(remoteAddrs, ila)
-	remoteAddrs = addrutil.Subtract(remoteAddrs, s.peers.Addrs(s.local))
-
-	log.Debugf("%s swarm dialing %s -- local:%s remote:%s", s.local, p, s.ListenAddresses(), remoteAddrs)
-	if len(remoteAddrs) == 0 {
-		err := errors.New("peer has no addresses")
-		logdial["error"] = err
-		return nil, err
-	}
-
-	remoteAddrs = s.filterAddrs(remoteAddrs)
-	if len(remoteAddrs) == 0 {
-		err := errors.New("all adresses for peer have been filtered out")
-		logdial["error"] = err
-		return nil, err
+	subtract_filter := addrutil.SubtractFilter(append(ila, s.peers.Addrs(s.local)...)...)
+
+	// get live channel of addresses for peer, filtered by the given filters
+	/*
+		remoteAddrChan := s.peers.AddrsChan(ctx, p,
+			addrutil.AddrUsableFilter,
+			subtract_filter,
+			s.Filters.AddrBlocked)
+	*/
+
+	//////
+	/*
+		This code is temporary, the peerstore can currently provide
+		a channel as an interface for receiving addresses, but more thought
+		needs to be put into the execution. For now, this allows us to use
+		the improved rate limiter, while maintaining the outward behaviour
+		that we previously had (halting a dial when we run out of addrs)
+	*/
+	paddrs := s.peers.Addrs(p)
+	good_addrs := addrutil.FilterAddrs(paddrs,
+		addrutil.AddrUsableFunc,
+		subtract_filter,
+		addrutil.FilterNeg(s.Filters.AddrBlocked),
+	)
+	remoteAddrChan := make(chan ma.Multiaddr, len(good_addrs))
+	for _, a := range good_addrs {
+		remoteAddrChan <- a
 	}
+	close(remoteAddrChan)
+	/////////
 
 	// try to get a connection to any addr
-	connC, err := s.dialAddrs(ctx, p, remoteAddrs)
+	connC, err := s.dialAddrs(ctx, p, remoteAddrChan)
 	if err != nil {
 		logdial["error"] = err
 		return nil, err
@@ -364,98 +372,64 @@ func (s *Swarm) dial(ctx context.Context, p peer.ID) (*Conn, error) {
 	return swarmC, nil
 }
 
-func (s *Swarm) dialAddrs(ctx context.Context, p peer.ID, remoteAddrs []ma.Multiaddr) (conn.Conn, error) {
-
-	// sort addresses so preferred addresses are dialed sooner
-	sort.Sort(AddrList(remoteAddrs))
-
-	// try to connect to one of the peer's known addresses.
-	// we dial concurrently to each of the addresses, which:
-	// * makes the process faster overall
-	// * attempts to get the fastest connection available.
-	// * mitigates the waste of trying bad addresses
+func (s *Swarm) dialAddrs(ctx context.Context, p peer.ID, remoteAddrs <-chan ma.Multiaddr) (conn.Conn, error) {
 	log.Debugf("%s swarm dialing %s %s", s.local, p, remoteAddrs)
 
 	ctx, cancel := context.WithCancel(ctx)
 	defer cancel() // cancel work when we exit func
 
-	conns := make(chan conn.Conn)
-	errs := make(chan error, len(remoteAddrs))
+	// use a single response type instead of errs and conns, reduces complexity *a ton*
+	respch := make(chan dialResult)
 
-	// dialSingleAddr is used in the rate-limited async thing below.
-	dialSingleAddr := func(addr ma.Multiaddr) {
-		// rebind chans in scope so we can nil them out easily
-		connsout := conns
-		errsout := errs
+	defaultDialFail := fmt.Errorf("failed to dial %s (default failure)", p)
+	exitErr := defaultDialFail
 
-		connC, err := s.dialAddr(ctx, p, addr)
-		if err != nil {
-			connsout = nil
-		} else if connC == nil {
-			// NOTE: this really should never happen
-			log.Errorf("failed to dial %s %s and got no error!", p, addr)
-			err = fmt.Errorf("failed to dial %s %s", p, addr)
-			connsout = nil
-		} else {
-			errsout = nil
-		}
-
-		// check parent still wants our results
+	var active int
+	for {
 		select {
-		case <-ctx.Done():
-			if connC != nil {
-				connC.Close()
+		case addr, ok := <-remoteAddrs:
+			if !ok {
+				remoteAddrs = nil
+				if active == 0 {
+					return nil, exitErr
+				}
+				continue
 			}
-		case errsout <- err:
-		case connsout <- connC:
-		}
-	}
 
-	// this whole thing is in a goroutine so we can use foundConn
-	// to end early.
-	go func() {
-		limiter := make(chan struct{}, 8)
-		for _, addr := range remoteAddrs {
-			// returns whatever ratelimiting is acceptable for workerAddr.
-			// may not rate limit at all.
-			rl := s.addrDialRateLimit(addr)
-			select {
-			case <-ctx.Done(): // our context was cancelled
-				return
-			case rl <- struct{}{}:
-				// take the token, move on
+			s.limitedDial(ctx, p, addr, respch)
+			active++
+		case <-ctx.Done():
+			if exitErr == defaultDialFail {
+				exitErr = ctx.Err()
 			}
-
-			select {
-			case <-ctx.Done(): // our context was cancelled
-				return
-			case limiter <- struct{}{}:
-				// take the token, move on
+			return nil, exitErr
+		case resp := <-respch:
+			active--
+			if resp.Err != nil {
+				log.Info("got error on dial: ", resp.Err)
+				// Errors are normal, lots of dials will fail
+				exitErr = resp.Err
+
+				if remoteAddrs == nil && active == 0 {
+					return nil, exitErr
+				}
+			} else if resp.Conn != nil {
+				return resp.Conn, nil
 			}
-
-			go func(rlc <-chan struct{}, a ma.Multiaddr) {
-				dialSingleAddr(a)
-				<-limiter
-				<-rlc
-			}(rl, addr)
-		}
-	}()
-
-	// wair for the results.
-	exitErr := fmt.Errorf("failed to dial %s", p)
-	for range remoteAddrs {
-		select {
-		case exitErr = <-errs: //
-			log.Debug("dial error: ", exitErr)
-		case connC := <-conns:
-			// take the first + return asap
-			return connC, nil
-		case <-ctx.Done():
-			// break out and return error
-			break
 		}
 	}
-	return nil, exitErr
+}
+
+// limitedDial will start a dial to the given peer when
+// it is able, respecting the various different types of rate
+// limiting that occur without using extra goroutines per addr
+func (s *Swarm) limitedDial(ctx context.Context, p peer.ID, a ma.Multiaddr, resp chan dialResult) {
+	s.limiter.AddDialJob(&dialJob{
+		addr: a,
+		peer: p,
+		resp: resp,
+		ctx:  ctx,
+	})
 }
 
 func (s *Swarm) dialAddr(ctx context.Context, p peer.ID, addr ma.Multiaddr) (conn.Conn, error) {
@@ -485,16 +459,6 @@ func (s *Swarm) dialAddr(ctx context.Context, p peer.ID, addr ma.Multiaddr) (con
 	return connC, nil
 }
 
-func (s *Swarm) filterAddrs(addrs []ma.Multiaddr) []ma.Multiaddr {
-	var out []ma.Multiaddr
-	for _, a := range addrs {
-		if !s.Filters.AddrBlocked(a) {
-			out = append(out, a)
-		}
-	}
-	return out
-}
-
 // dialConnSetup is the setup logic for a connection from the dial side. it
 // needs to add the Conn to the StreamSwarm, then run newConnSetup
 func dialConnSetup(ctx context.Context, s *Swarm, connC conn.Conn) (*Conn, error) {
@@ -514,72 +478,3 @@ func dialConnSetup(ctx context.Context, s *Swarm, connC conn.Conn) (*Conn, error
 
 	return swarmC, err
 }
-
-// addrDialRateLimit returns a ratelimiting channel for dialing transport
-// addrs like a. for example, tcp is fd-ratelimited. utp is not ratelimited.
-func (s *Swarm) addrDialRateLimit(a ma.Multiaddr) chan struct{} {
-	if isFDCostlyTransport(a) {
-		return s.fdRateLimit
-	}
-
-	// do not rate limit it at all
-	return make(chan struct{}, 1)
-}
-
-func isFDCostlyTransport(a ma.Multiaddr) bool {
-	return isTCPMultiaddr(a)
-}
-
-func isTCPMultiaddr(a ma.Multiaddr) bool {
-	p := a.Protocols()
-	return len(p) == 2 && (p[0].Name == "ip4" || p[0].Name == "ip6") && p[1].Name == "tcp"
-}
-
-type AddrList []ma.Multiaddr
-
-func (al AddrList) Len() int {
-	return len(al)
-}
-
-func (al AddrList) Swap(i, j int) {
-	al[i], al[j] = al[j], al[i]
-}
-
-func (al AddrList) Less(i, j int) bool {
-	a := al[i]
-	b := al[j]
-
-	// dial localhost addresses next, they should fail immediately
-	lba := manet.IsIPLoopback(a)
-	lbb := manet.IsIPLoopback(b)
-	if lba {
-		if !lbb {
-			return true
-		}
-	}
-
-	// dial utp and similar 'non-fd-consuming' addresses first
-	fda := isFDCostlyTransport(a)
-	fdb := isFDCostlyTransport(b)
-	if !fda {
-		if fdb {
-			return true
-		}
-
-		// if neither consume fd's, assume equal ordering
-		return false
-	}
-
-	// if 'b' doesnt take a file descriptor
-	if !fdb {
-		return false
-	}
-
-	// if 'b' is loopback and both take file descriptors
-	if lbb {
-		return false
-	}
-
-	// for the rest, just sort by bytes
-	return bytes.Compare(a.Bytes(), b.Bytes()) > 0
-}
diff --git a/p2p/net/swarm/swarm_test.go b/p2p/net/swarm/swarm_test.go
index 6e9f121fcd..f5e454956c 100644
--- a/p2p/net/swarm/swarm_test.go
+++ b/p2p/net/swarm/swarm_test.go
@@ -303,7 +303,7 @@ func TestAddrBlocking(t *testing.T) {
 	swarms := makeSwarms(ctx, t, 2)
 
 	swarms[0].SetConnHandler(func(conn *Conn) {
-		t.Fatalf("no connections should happen! -- %s", conn)
+		t.Errorf("no connections should happen! -- %s", conn)
 	})
 
 	_, block, err := net.ParseCIDR("127.0.0.1/8")
diff --git a/package.json b/package.json
index 5af729700c..70d1bf2952 100644
--- a/package.json
+++ b/package.json
@@ -1,4 +1,5 @@
 {
+  "name":"go-libp2p",
   "author": "whyrusleeping",
   "bugs": {
     "url": "https://github.com/ipfs/go-libp2p"