Author: Drak 2013-12-03 11:09:51
Published on: 2013-12-03T11:09:51+00:00
In an email conversation on December 3, 2013, Peter Todd discussed the issue of transaction fees with another individual. They noted that if a user spends a large amount of "dust," or small amounts of Bitcoin, the fee for the transaction could be 2-3 times more than expected. This creates a problem for merchants who set fees because they have no idea how large a transaction might be. As a result, some merchants may include higher fees by default to account for this uncertainty, causing users to pay more per kilobyte over time. Todd suggested that the ideal user interface would not show anything in the default case and only explain to the user why they have to pay extra in unusual cases.
Updated on: 2023-06-07T21:42:46.642628+00:00