Author: Peter Todd 2013-12-01 18:12:11
Published on: 2013-12-01T18:12:11+00:00
In a forum post dated December 1, 2013, Bitcoin developer Mike Hearn proposed new messages for incoming and outgoing transactions. He suggested that the current notion of senders attaching fees be abandoned in favor of a simpler UI that does not mention fees. Hearn argued that recipients care about double spending risk, not senders, and that the merchant should be responsible for ensuring security against that risk. He cautioned against building a UI around settlement failure, as this would encourage people to regard it as normal when it should not be so. Another user responded that Bitcoin is limited in capacity, which may cause transactions to fail to confirm in a reasonable amount of time due to high demand or DoS attacks. To deal with these situations, he suggested giving senders and/or receivers the ability to increase fees after the fact. However, he acknowledged that UI problems around such functionality can be subtle. The user also noted that child-pays-for-parent is inefficient and micropayments direct to miners are not implemented. He called for concrete proposals to address these issues.
Updated on: 2023-06-07T21:31:40.973783+00:00