Author: Allen Piscitello 2015-05-26 20:12:41
Published on: 2015-05-26T20:12:41+00:00
The conversation is about the Replace-By-Fee (RBF) feature in Bitcoin, which allows users to increase the fee on a transaction that has not yet been confirmed. Danny Thorpe asks what prevents RBF from being used for fraudulent payment reversals where a user could broadcast a double-spend of a transaction after receiving goods from the seller. Peter Todd responds by comparing the cost savings of using RBF versus Child Pays for Parent (CPFP) for different scenarios. In Case 1, he shows that RBF is cheaper for increasing the fee on a single transaction. In Case 2 and Case 3, he demonstrates that RBF can save up to 84% and 90%, respectively, when paying multiple recipients or using a multisig wallet. In Case 4, he explains how RBF can be beneficial for defragmenting unspent transaction outputs (UTXOs) and can save up to 59%.
Updated on: 2023-06-09T21:19:22.971806+00:00