Published on: 2013-12-06T08:37:55+00:00
In December 2013, Andreas Petersson proposed a suggestion to lower the minimum relay fee per kb in Bitcoin. Currently, the fixed fee is set at 0.1 mBTC, which has received criticism from users, with some comparing it unfavorably to bank fees. However, this proposal was deemed too risky for version 0.8.6 of Bitcoin and it was decided that the change would be implemented in version 0.9, unless the full floating fee implementation is ready and considered safe by then.The author acknowledges the need for a new fee market but highlights that until it is established, users will continue to complain about the high fixed fee. The negative reviews of Mycelium on the Google Play Store specifically mention the high fees as a negative aspect. To address these concerns in the interim, the author suggests lowering the minimum relay fee per kilobyte to alleviate user dissatisfaction. However, no concrete reasoning is provided behind the suggested amount of 0.01 mBTC. It is worth noting that banks have been observed to sometimes have lower fees than Bitcoin's current fee structure.
Updated on: 2023-08-01T06:46:34.821468+00:00