serialize bubbles without channels - alternative to !3757

This is an alternative implementation to !3757 (closed), I believe that it is cleaner and simpler, yet still achieves the same thing with improved correctness.

@ChrisSchinnerl reported great success with the !3757 (closed) branch on his node, I would like to confirm that this branch is also highly effective at reducing resource usage on his node before we fully consider this branch as an alternative to !3757 (closed)