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Author Topic: Does it make sense to have an option to make some other translation data public?  (Read 23 times)
Ober1
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March 06, 2018, 06:05:09 PM
 #1

E.g. a field “public_transaction_description’ where you can type something like “Sold large pizza in LA” - could be good advertisement for seller?
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DannyHamilton
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March 06, 2018, 06:11:13 PM
 #2

E.g. a field “public_transaction_description’ where you can type something like “Sold large pizza in LA” - could be good advertisement for seller?

This is already possible.

It is called an OP_RETURN output in the transaction.  If any wallet creator wants to store a description, they can add such a feature to the wallet software.

Note that, storing this extra information would make the transaction larger and would therefore require more transaction fees for confirmation.

It is rarely used for such purposes, and there aren't any popular wallets that have implemented any method for displaying any of this data.

Clearly it is not a popular desired feature.

Ober1
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March 06, 2018, 06:28:53 PM
 #3

Thanks a lot!
Could you please collaborate a little more why it’s not popular rather than probably the reason nobody public going look that info? Do  the most bitcoin  sellers of goods and services want to be anonymous?
DannyHamilton
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March 06, 2018, 07:50:51 PM
 #4

Thanks a lot!
Could you please collaborate a little more why it’s not popular

I thought I did.

storing this extra information would make the transaction larger and would therefore require more transaction fees

Users aren't interested in paying higher fees unless it benefits them directly, therefore wallet creators aren't adding features that make transactions more expensive. Since wallet creators aren't creating a way for users to see the messages, merchant aren't bothering to waste extra money to create messages that nobody will see.


Ober1
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March 06, 2018, 09:18:12 PM
 #5

Thanks, I understand that, just wonder if there are some big reasons where wallet holders could not be interested to provide that information? From your experienced opinion - would the most goods/services sellers/buyers in Blockchain be interested to open that information as advertisement or keep hidden (e.g. if they not needed to pay extra money for transaction)? Really appreciate your opinion.
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