I'm fantasizing it's me who ignited the fire.
Well, many users wanted that change:
https://bitcointalk.org/index.php?topic=5528323Also, some code changes are in progress, but it seems people reconfigured their nodes earlier, before Bitcoin Core accepted any changes like that:
https://github.com/bitcoin/bitcoin/pull/32959I still think it may be bad in the long-term, but well, if users want cheaper transactions today, then they can get them, because why not. Any miner can accept as low fee, as needed, including free transactions. Also, there are ways to have negative fee transactions in decentralized way, the only reason why nobody implements it, is because it would make nodes open for many DoS attacks.
Now we need to convince the wallet providers to make those changes
If you use Bitcoin Core, then you can change your settings, without recompiling your wallet. For example:
I think some other wallets may have similar config files. If they don't have it, then they should introduce it, because it would make it possible to make future changes, without recompiling source code, and waiting for wallet developers to change the default settings.
Also, another option is to import transaction proofs into Bitcoin Core. But then, you have to get a proof for your transaction somehow, to have something to import.
gettxoutproof ["txid",...] ( "blockhash" )
verifytxoutproof "proof"
I guess it is easier to use PSBT anyway, at least for now. Because in general, Bitcoin Core will accept the data you provide. Which means, that if you tell the client somehow, that you have 50 BTC on output badc0dedbadc0dedbadc0dedbadc0dedbadc0dedbadc0dedbadc0dedbadc0ded:1, then it will accept that fact, if it will be in your database, and it will allow you to use GUI, to sign your output. Of course, if you do that in a hackish way, then Bitcoin Core won't check it, and will allow you to sign anything, but that's just the price of avoiding chain verification, if you want to use it as some kind of SPV wallet, instead of sticking to the default way of downloading and verifying everything.
Many wallets seem to prefer high fee over slow confirmations.
Yes, that's another thing. If you use 1 sat/vB, then your transaction will be seen by pretty much everyone, because this de-facto standard was there for years. And if there will be people paying higher fees, then you can send even free transactions. There could be even miners accepting them. But still: other limits will still protect nodes from being flooded, for example block size limit of 4 MB, or default mempool size limit of 300 MB.
I'd say this shows that lower minimum fees don't necessarily mean miners will earn less.
In the long-term, it is hard to raise minimal fees, if they will be lowered too much. Going from de-facto standard of 1 sat/vB into 0.1 sat/vB is much easier, than raising it into 10 sat/vB. Which means, that if fees will be lowered now, then users may disagree to raise them in the future. And then, it may become a problem, if miners won't have enough incentives to produce next blocks (because then, they will be produced, when it will be profitable, so delays between blocks can be more driven by transaction fees, than they are today).