Author: Gregory Maxwell 2012-12-03 21:42:09
Published on: 2012-12-03T21:42:09+00:00
In a 2012 email exchange, Mike Hearn raised concerns about the long-term sustainability of Bitcoin's network speed funding post-inflation. He suggested that users might eventually choose not to broadcast transactions at all in some cases. This would create a cost for getting transactions into the chain if users paid fees. However, in cases where there is mutual trust between parties or an external mechanism secures the transaction, a fee-less transaction could be kept "in your pocket" and then used later when it's time to pay. Hearn also brought up the point that if mutually trusted parties have made a payment that hasn't been broadcasted for confirmation, they could use the original unconfirmed transaction as a replacement to combine both payments with the second transaction. This could be useful if both parties agree to the terms of the payment and want to avoid the cost of additional fees.
Updated on: 2023-05-19T16:12:39.536114+00:00