Author: Erik Aronesty 2022-12-05 21:14:03
Published on: 2022-12-05T21:14:03+00:00
Many proponents of zero-conf work on supporting Lightning, which is not risk-free and should not be assumed as a primary dependency for commercial payments. For low-value payments, lightning is the only workable version because the current low-fee environment is not scalable, but for high-valued payments, zero-conf was never valuable or useful and never will be. Low fee/high fee double spends of a zero-conf with no RBF flag has been demonstrated repeatedly, making it clear that there is no long-term scenario where zero-conf is valuable. While using low fees may seem nice at the moment, it incentivizes network-wide surveillance, increased peer burden on nodes, and unsustainable practices that are akin to a "mev" bounty hanging over merchant's heads. However, the 20-minute wait before shipping items is meaningless, and the only risk involved is that a user replaces a transaction with a different destination. Even with the flag on (which the author does not care about), this has never been observed. If such an event were to occur, the user would have to initiate a new transaction, and the seller can easily code up a solution to handle this issue. The author has no objection to a user being able to cancel their order, and this has never posed a problem in their experience of selling and buying online.
Updated on: 2023-06-16T03:17:26.809599+00:00