[2014-4-9] Coindesk - MultiBit User’s Loss Highlights Need for New Wallets

[Carlton Banks]

http://www.coindesk.com/multibit-user-loss-high-need-bitcoin-wallets/

Multibit has somewhat of a reputation for buggy behaviour that causes less catastrophic problems. Most interesting is this pair of quotes:

“Until now wallets have all been written by volunteers who put huge time and effort in for free. This is one reason bitcoin has low transaction costs, but it isn’t sustainable.”
“One of the most critical transitions the community will have to make this year is to a world where most of us are paying for our wallets in some way.”

Is this a call for protocol enforced fees to fund development? Seems like a strange way of making the case for that.

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[odolvlobo]

Is this a call for protocol enforced fees to fund development? Seems like a strange way of making the case for that.

Not at all. All Hearn is saying is that if people want professional-grade Bitcoin software, they are going to have to pay for it. I disagree to some extent because much of the most widely-used software available today is professional-grade, and yet it is open source and free. There is no reason why Bitcoin won't be similar.

"Protocol enforced fees" require a central authority to set the fees. That will never fly, especially when market-based fees will work just fine.

[Carlton Banks]

Is this a call for protocol enforced fees to fund development? Seems like a strange way of making the case for that.

Not at all. All Hearn is saying is that if people want professional-grade Bitcoin software, they are going to have to pay for it. I disagree to some extent because much of the most widely-used software available today is professional-grade, and yet it is open source and free. There is no reason why Bitcoin won't be similar.

"Protocol enforced fees" require a central authority to set the fees. That will never fly, especially when market-based fees will work just fine.

I don't see how free and open software can continue if the user pays for distribution copies. The only reliable mechanism for enforcing fees to use wallet software is to introduce something new to the protocol. Hacks, alternative wallets and other workarounds are a certainty otherwise.

[trior]

I see the future of wallets software filled with surprises .
Just stay tuned for the good ride .