Disappointing to see Bitcoin Wallet for Android mislead users by completely ignoring that fees are in fee/KB. #cpfppic.twitter.com/L53tNuAsz2
-
@NickSzabo4@petertoddbtc Not even if it explains why they have to pay more?
@mmeijeri @petertoddbtc The wallet should charge a flat fee per tx, not per KB. Per KB greatly ^ mental tx costs w/o much efficiency gain.
-
-
@NickSzabo4@petertoddbtc I think I understand the mental barriers argument, but if miners charge by kB, do flat fees in wallets help? -
@mmeijeri@NickSzabo4@petertoddbtc Fees more likely to vary because of network congestion than tx size. Almost all basic txs < 1KB -
@mikeland86@mmeijeri@petertoddbtc In this case too the wallet knows far more about network congestion than the user. -
@mikeland86@mmeijeri@petertoddbtc cf. trying to even out postal traffic by changing what a stamp cost every day : not worth it. -
@mikeland86@mmeijeri@petertoddbtc Fee only good for reducing long-term average congestion, not for adapting to spikes. -
@NickSzabo4@mmeijeri@petertoddbtc Agreed. In long term wallets will have to move to settlement/lightning/off-chain with fixed or no fees -
@mikeland86@NickSzabo4@mmeijeri Insisting that Bitcoin itself be fixed fee is like arguing electricity be flat rate for user acceptance. -
@mikeland86@NickSzabo4@mmeijeri The tech just doesn't work that way; building better tech better than surprising users with bad models. - 7 more replies
New conversation -
-
-
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
@NickSzabo4@mmeijeri@petertoddbtc smart idea. Keep it simple: flat feeThanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.