[Bitcoin-development] Floating fees and SPV clients

Peter Todd pete at petertodd.org
Tue Dec 3 11:33:21 UTC 2013

On Tue, Dec 03, 2013 at 11:09:51AM +0000, Drak wrote:
> On 3 December 2013 11:03, Peter Todd <pete at petertodd.org> wrote:
> > UI once both are implemented is to not show anything in the default
> > case, and explain to the user why they have to pay extra in the unusual
> > case where they are spending a whole bunch of dust.
> Yes, that's the other problem with a merchant setting a fee - they have no
> idea how large the transaction might be. If you spend a bunch of dust the
> fee could be 2 or 3x the expected fee. Then you might get merchants
> including higher fees by default to account for this. That means we end up
> paying more per kb over time.

Right, which is solved by requiring a fee-per-kb, and only allowing up
to a certain amount to be deducted from the amount paid to pay that
total fee.

But really, we're better off leaving fees visible to the user in the
first place: they're how Bitcoin works and it's not going to change.
(was just talking to Taylor from Hive Wallet about that in person

-------------- next part --------------
A non-text attachment was scrubbed...
Name: signature.asc
Type: application/pgp-signature
Size: 490 bytes
Desc: Digital signature
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20131203/97c04e6f/attachment.sig>

More information about the bitcoin-dev mailing list