Author: Peter Todd 2013-12-03 12:07:34
Published on: 2013-12-03T12:07:34+00:00
The conversation revolves around the topic of transaction fees in Bitcoin. Mike Hearn suggests that it may be acceptable for receivers to not always receive exactly what they requested, at least for person-to-business transactions. However, Taylor Gerring does not agree with this and questions why there should be two classes of transactions. He believes transactions should work the same regardless of who is on the receiving end. The issue of fees being confusing to users is also discussed. While some argue that any fee is confusing, others believe that people are used to Western Union/PayPal and associated fees. It is suggested that informing users about the estimated cost of sending a transaction in a reasonable amount of time would be reasonable. Transparency on fees is seen as important from a marketing point of view as well, as it demystifies the system and gives people the confidence to tell others about the cost-advantages of Bitcoin while accurately combatting fears about fees with honest information.
Updated on: 2023-06-07T21:37:39.253662+00:00