Jorge Timón [ARCHIVE] on Nostr: 📅 Original date posted:2015-07-24 📝 Original message:Well, I think "fast ...
📅 Original date posted:2015-07-24
📝 Original message:Well, I think "fast international transactions" is still true. An hour is
pretty fast when you compare it with several days. But yeah, "free" and
"instant" are misleading words.
Low fees may be ok. One thing that is not mentioned often is that the fact
that the system is p2p is what makes transactions irreversible (otherwise a
court order can tell any centralized server to cancel any transaction).
Irreversible transactions don't need proportional fees, because there's
nothing being ensured and the amount being moved is irrelevant. So even if
we have a future with 5 usd fees, that's still a very low fee for moving,
say 1 M usd worth of btc. So I'm not opposed to talking about low fees,
just not free and not instant (although lightning can actually provide free
and instant transactions).
On Jul 24, 2015 10:48 AM, "Jonas Schnelli via bitcoin-dev" <
bitcoin-dev at lists.linuxfoundation.org> wrote:
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>
>
> > There is now a pull request to remove mention of "zero or low
> > fees", "fast international payments", and "instant peer-to-peer
> > transactions" from bitcoin.org. For those non-technical users who
> > do not read source code, this may come across as the breaking of
> > the social contract on what Bitcoin is ultimately intended to be.
> > It looks like we already have a Reddit post on the subject as
> > well.
>
> This PR makes absolutely sense.
> A documentation or description should reflect how a system works NOW.
> Not how it *was working and how it *might work once.
>
> The concept of free transaction just doens't really work well with the
> current system and advertising bitcoin with "free transaction" is
> missleading.
>
> /jonas
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> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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📝 Original message:Well, I think "fast international transactions" is still true. An hour is
pretty fast when you compare it with several days. But yeah, "free" and
"instant" are misleading words.
Low fees may be ok. One thing that is not mentioned often is that the fact
that the system is p2p is what makes transactions irreversible (otherwise a
court order can tell any centralized server to cancel any transaction).
Irreversible transactions don't need proportional fees, because there's
nothing being ensured and the amount being moved is irrelevant. So even if
we have a future with 5 usd fees, that's still a very low fee for moving,
say 1 M usd worth of btc. So I'm not opposed to talking about low fees,
just not free and not instant (although lightning can actually provide free
and instant transactions).
On Jul 24, 2015 10:48 AM, "Jonas Schnelli via bitcoin-dev" <
bitcoin-dev at lists.linuxfoundation.org> wrote:
> -----BEGIN PGP SIGNED MESSAGE-----
> Hash: SHA1
>
>
> > There is now a pull request to remove mention of "zero or low
> > fees", "fast international payments", and "instant peer-to-peer
> > transactions" from bitcoin.org. For those non-technical users who
> > do not read source code, this may come across as the breaking of
> > the social contract on what Bitcoin is ultimately intended to be.
> > It looks like we already have a Reddit post on the subject as
> > well.
>
> This PR makes absolutely sense.
> A documentation or description should reflect how a system works NOW.
> Not how it *was working and how it *might work once.
>
> The concept of free transaction just doens't really work well with the
> current system and advertising bitcoin with "free transaction" is
> missleading.
>
> /jonas
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> =e71j
> -----END PGP SIGNATURE-----
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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