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Author Topic: It's already somehow inconvenient to use BTC as a currency  (Read 3361 times)
Sukrim
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June 05, 2011, 05:09:35 PM
 #21

If I was better at coding I'd create a 'no-min-fee' client.
It's a simple one-liner, well documented and available as a patch... all you need to do is compile.

I already requested such a client, and I guess by tonight someone will have built one.

https://www.coinlend.org <-- automated lending at various exchanges. No fees(!).
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
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theymos
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June 05, 2011, 10:22:56 PM
 #22

Once transaction cancellation is possible, it will be safe to let the user pick any fee they want, since there will be no serious consequences. Right now sending a transaction with too low a fee might get it stuck permanently.

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gigabytecoin
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June 05, 2011, 10:29:04 PM
 #23

People unhappy about the default client settings are free
Whoever mandated the .01 transaction fee on a complete whim is a complete and utter moron. We need the fee lowered IMMEDIATELY.
Omg, run for the github repository, make a pull request, if you can't code, pay someone to do it, if you don't feel like it don't use this client.
Either way the people who code the client don't owe you shit.
It's not in my interest entirely! Not at all! If they care about this project, they would certainly act in its best-interest and lower the fee! It's a matter of survival for the whole paradigm at large! One of the main benefits of Bitcoin is absolutely bastardized by this absurd fee: an adjustable fee subject to market forces from independent nodes. Not all of these nodes are ran by specialized coders.

Do you have any goddamned clue why that fee exists? It's because we are still susceptible for a DDoS attack involving billions of 0.00000001 transactions in a single block.

Don't bash the coders. If it wasn't for them, you wouldn't even be here.

Or in other words... respect your elders you 17 year old kid.
dayfall
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June 06, 2011, 12:54:31 AM
 #24

I remember someone saying (Gavin I think) that bitcoin isn't meant for small transactions.  "Small" is relative, however.  It certainly punishes the very poor.
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June 06, 2011, 01:08:02 AM
 #25

Why does anyone need to change the source?  Just remove the fee from your client.  Problem solved.  Mandatory fee is only for super small transactions.
Gavin Andresen
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June 06, 2011, 01:22:01 AM
 #26

It costs the bitcoin network something like 0.001 US cents to process a typical transaction, so transactions less than about a cent don't make sense.

RE: using market forces for transaction fees:  I agree 100%.   But that code has to be written and thoroughly tested.  The hard part is figuring out how miners communicate their "fee schedules" to clients (you can't just ask miners "what's your fee schedule" because they have an incentive to lie to try to get higher fees...).

So in the very short term fees are being dropped from 0.01 BTC per kilobyte to 0.0005 BTC per kilobyte.

I'll say it again:  expect more growing pains like this.  There will be more of them.

How often do you get the chance to work on a potentially world-changing project?
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