Author: Lawrence Nahum 2015-02-12 16:15:03
Published on: 2015-02-12T16:15:03+00:00
In a discussion, Mike Hearn argues that the replace-by-fee (RBF) is based on a fundamental misunderstanding of miner incentives. However, the author disagrees and believes that RBF is inevitable and fixing it now would prevent building on weak foundations. The author runs a service that allows for zero confirmation/double spend protection with third party trust which may be biased. One issue that the author raises is how to handle transactions that are stuck for days or longer because of low fees, even with floating fees. The author assumes restricted replacement is difficult, especially from a user experience point of view, and adds undue complexity. The author cites Coinbase as an example of weak/broken foundations and warns of bigger problems down the line if not fixed immediately.
Updated on: 2023-06-09T16:54:18.510311+00:00