Author: Mike Hearn 2013-12-03 13:20:36
Published on: 2013-12-03T13:20:36+00:00
In an email conversation between Taylor Gerring and Mike Hearn, the topic of transaction fees in Bitcoin was discussed. Gerring questioned why there should be two classes of transactions and where paying a local business at a farmer's stand fits into this scheme. Hearn responded by explaining that many people are accustomed to paying the sticker price for things, so surcharges for using credit cards are not popular with customers. He suggested that new terminology could be created to differentiate between "interior fees" (included in the price/receiver pays) and "exterior fees" (excluded from the price/sender pays). The conversation then turned to user interface design for informing users about transaction fees. Gerring asked Hearn about his ideas for presenting this information to users in Hive Wallet. Hearn expressed his belief that the information should be presented in an intuitive way, allowing users to make informed decisions. However, he acknowledged that existing clients do a poor job of presenting this information. In particular, he raised concerns about explaining the fee structure to users who may not understand terms like "blocks" or why they should care about them.
Updated on: 2023-06-07T21:43:17.605003+00:00