Author: Quinn Harris 2013-12-03 14:42:35
Published on: 2013-12-03T14:42:35+00:00
A merchant proposes a solution to prevent unexpected high fees by including a min_fee_per_kilobyte and max_fee in PaymentDetails, which the sender must respect. If the result exceeds the max_fee, the sender would agree to pay the extra fee (exterior fees). The sender may also agree to pay fees exceeding the min_fee_per_kilobyte. The interior or merchant fees would be deducted from the first output. The UI could show the payment "price" with the sum of original outputs, merchant fees (interior), and sender fees (exterior) if applicable. This allows the merchant to pay fees in most cases while not having to pay excessive fees if the sender wants to use a large transaction. If the max_fee is 0, the sender is expected to pay all fees.Some people expect to pay only the sticker price for things, and they are psychologically trained to do so. Merchants who include additional fees risk losing customers. The social expectation differs when sending money to friends. PayPal makes senders pay fees in that case. The terminology proposed is 'interior fees' for included fees in the price with the receiver paying and 'exterior fees' for excluded fees from the price with the sender paying.In response to Taylor Gerring's suggestion on informing users about fees, Mike Hearn questions the effectiveness of existing clients to present information about fees to users. He also asks about the UI details and how the fee structure will be explained, such as letting the user pick the number of blocks they need to wait for and what a block is. New users might not understand why they should care and may slide the slider to the other end and pay no fees at all. It is unclear whether the merchant will refuse to take their payment.
Updated on: 2023-06-07T21:38:23.485229+00:00