Author: Peter Todd 2013-12-04 10:57:48
Published on: 2013-12-04T10:57:48+00:00
In this message, Mike Hearn discusses the issue of allow_fee and how it will work with merchants. He believes that it may be challenging to implement as merchants want customers to pay the sticker price without additional fees. If a buyer tries to pay with an insufficient fee, there is no incentive for them to attach a higher fee than allow_fee as there is no way for the merchant to reject the payment. This could lead to disputes and large piles of manual work due to payments not clearing before the exchange rate shifts. Additionally, Hearn mentions that there is rough consensus at the dark wallet conf that replacement for fee bumping is a good thing and should be supported. He believes that the code is trivial and does not need consent from more than a small minority. Libbitcoin already implements a memory-limited mempool, which is very DoS attack safe for them to relay replacements regardless of miner support. Finally, he plans on proposing it for formal inclusion in their wallet best practices guidelines.
Updated on: 2023-06-07T21:35:12.760197+00:00