Author: Rhavar 2017-07-02 21:01:19
Published on: 2017-07-02T21:01:19+00:00
In a discussion on the bitcoin-dev mailing list, Rhavar proposed BIP125 which allows transactions to opt into replaceability with the primary use case of allowing users to increase the fees of unconfirming transactions. However, some members of the group have expressed concerns with the proposal. One member thinks that it isn't desirable and suggests just replacing the transaction instead. However, in practice, this isn't realistic as some receivers do big sweeps and include unconfirmed inputs, meaning that replacing the transaction would require paying the cost of the sweep which could be hundreds of dollars. Another member thinks that the proposal is contrary to miner income as it asks miners to ignore spends that they could otherwise accept, leading to higher volatility. They suggest that a BIP strongly advising parties not to spend unconfirmed outputs from third parties while making a payment to third parties may achieve the intended goal.
Updated on: 2023-06-12T03:16:37.576383+00:00