Published on: 2015-06-18T14:53:46+00:00
The discussion revolves around how wallets calculate transaction fees for miners and whether they adjust automatically when transactions take longer to confirm. The response of wallets when transactions fail, such as when blocks are full, is also being debated. The writer urges Gavin, a key figure in the debate, to withdraw from the current standoff and collaborate with Bitcoin core developers through the existing BIP process.While the proposed solution of convincing miners and services to switch to Bitcoin-XT is acknowledged as urgent, it is not considered ideal due to potential compatibility issues and loss of funds. However, changes in the Bitcoin system take time to roll out, so starting them sooner rather than later is crucial. The central issue at hand is determining which option is riskier: implementing a consensus hard fork or allowing Bitcoin to surpass its capacity limits. Both scenarios pose dangers, including service incompatibility and loss of public confidence on one hand, and software failures, instability, and inability to transact on the other. In light of these risks, two short-term solutions have been proposed.One solution involves all miners and wallet developers upgrading to support first-safe RBF, which allows for double spending when transactions lack sufficient fees for confirmation. The second solution involves implementing either Gavin's or Jeff Garzik's proposal to change the consensus parameters around the block size limit. The writer expresses hope that if the second option is not deemed suitable (despite the consensus on eventually increasing the block size limit), Ben should focus on implementing the first solution for his Ninki Wallet software to handle capacity limits gracefully.Ben, the developer of Ninki Wallet, supports the bitcoin core dev team's approach to consensus and a clear process for change. He believes that the block size limit will need to be increased in the future, but emphasizes the importance of establishing consensus on how bitcoin can scale while maintaining decentralization and its core value. Ben opposes any group attempting to fork the blockchain using XT and strongly urges Gavin to collaborate with the bitcoin core devs through the successful bip process. It is worth mentioning that Ninki Wallet has recently been listed on bitcoin.org, indicating its legitimacy and recognition in the Bitcoin community.
Updated on: 2023-08-01T13:22:20.172425+00:00