Disappointing to see Bitcoin Wallet for Android mislead users by completely ignoring that fees are in fee/KB. #cpfppic.twitter.com/L53tNuAsz2
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@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.
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@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. -
@petertoddbtc@NickSzabo4@mmeijeri tech vs UX. Fee models will change, see: dialup/home cable/cell data pricing -> per minute/speed/MB -
@petertoddbtc@NickSzabo4@mmeijeri Point is not surprise users/be consistent. Electricity price does not usually fluctuate month to month -
@mikeland86@NickSzabo4@mmeijeri Only because market is stable; gasoline price fluctuates constantly. Again, tech realities trump UX. - 4 more replies
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@mikeland86@mmeijeri@petertoddbtc + reducing temp n/w congestion via fees is almost surely not worth driving away users via hostile UI. -
@NickSzabo4@mikeland86@mmeijeri@petertoddbtc "stuck" transaction is a UX nightmare - flat fees are ok if there is a way to increase after -
@shibuyashadows Show them a generous flat fee, pay real fee, squirrel away excess for charity lottery tickets, no surprises except nice ones -
@edmundedgar or God forbid wallets actually charge for their services with the spread *ducks* -
@shibuyashadows Or more generously: Your business is tx fee insurance, if fees temporarily spike, you cover the difference
End of conversation
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