[Bitcoin-development] 0 confirmation txs using replace-by-fee and game theory

Isidor Zeuner cryptocurrencies at quidecco.de
Thu Jun 19 03:47:17 UTC 2014


quote:
[...]
> On 4/24/14, Chris Pacia <ctpacia at gmail.com> wrote:
> > It would work but it's an ugly hack IMO. What do people do if they don't
> > have extra to pay when making a purchase? I have 200 mbtc and want to buy a
> > 200 mbtc phone but I can't because I need 400 mbtc. Sucks for me.
> >
> > I would much prefer the hassle of a green address notary than always having
> > to make sure I have double what I need to make a purchase.
>
> This scheme wouldn't be mandatory. You can still wait for
> confirmations or rely somehow on existing trust instead if that's
> better for you on that situation.
>

Considering hotel or car rental payments where the credit card
processor reserves a higher amount in order to cover risks, it
doesn't seem like anything new or particularly inconvenient that a
payment system may require a larger amount than the final price being
available.

Which brings us to the question: Is it an important characteristic in
a payment system that it is capable of quickly spending your last
penny?

Best regards,

Isidor




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