Fee rebellion

[jim618]

Hello Andreas,

I don't normally post in this thread but wanted to mention some cross-posting I am doing in the other alt-clients threads. I think we have an opportunity to save our users some cash.

This is a cross post from:
https://bitcointalk.org/index.php?topic=50936.msg2569535#msg2569535
(The Electrum thread).

Basically I have dropped the fees MultiBit is adding to match the Bitcoin-QT fees (0.0001 BTC per 1000 bytes of tx).
I noticed today with your Bitcoin Wallet I am using there is an effective minimum of 0.0005 BTC (per KB??) per tx.

It occurs to me that if we all match the Bitcoin-QT drop in fee prices then no user will be disadvantaged. Whereas if only one client does it then their users' tx will get lower in the order for inclusion in the next block.

Please consider this rare opportunity to save our users a good chunk of their fees and drop the fees we are adding to our tx.

:-)

Jim

[1715402827]

1715402827

[1715402827]

1715402827

[Andreas Schildbach]

Are you on 3.09 or still on 3.08? 3.09 uses bitcoinj 0.9 and calculates fees using Matt's code. I did not change the SendRequest defaults, which typically results in 0.0001 BTC fee. I write about this on the bitcoinj mailing list.

[jim618]

Ah - that will be it - I am on 3.08

In which case I will upgrade and take advantage of the lower fees.
Yes - for the average tx the fee will drop to 0.0001 BTC.

I notice with the Bitcoin network when there is a long gap between blocks the tx pool fills up. The tx-with-"0.0005 BTC"-fees bump our tx to the later blocks. That's what made me realise we should ALL drop our fees.

:-)