📅 Original date posted:2023-07-31
🗒️ Summary of this message: The implementation of full Replace-by-Fee (RBF) could negatively impact merchants and users who rely on 0-conf transactions. GAP600 has seen strong usage of their service and believes the adoption of RBF will change their business.
📝 Original message:
This would unnecessarily and extremely negatively impact merchants and
users who choose to accept 0-conf while using mitigation tools like GAP600.
This negative impact could be avoided by simply adding first seen safe rule
- ie a trx can be replaced but needs to include the original outputs.
At GAP600 we continue to see strong use of our service for BTC we have seen
circa 350k unique trx hash per month (over the last 3 months) requested to
our platform. Our clients include - Coinpayments, Coinspaid and Changelly.
Given the period of Mempool being full we have seen an increase in the fee
required in order to be approved by our platform for trx. This is not an
insignificant use case and one which can be easily maintained as is.
We have provided further statistics in the past and direct feedback from
Coinspaid CEO with in the mailing list see here -
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2022-December/021240.html
We have not seen any impact of full RBF on double spend rates for our trxs
which seems to put in large question the stated figure of 40% adoption by
miners at such a rate of adoption we would expect to see a large increase
in double spends. We expect once this setting becomes default this will
greatly change the adoption of this service.
GAP600 model targets not to get it wrong and as such we are very sensitive
to any double spend which we get wrong in predicting as we reimburse our
clients. GAP600 is not a payment processor; rather services payment
processors, merchants and non custodial liquidity providers which service
non-custodial wallets.
________________________________
Daniel Lipshitz
GAP600| www.gap600.com
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Daniel Lipshitz [ARCHIVE] /
npub1t9…fg2yy
2023-07-31 16:02:14
in reply to nevent1q…34cv
Author Public Key
npub1t97ak5ltnq0v72nv4jssnhw0fr09axwqvc20623jfdnvrajae7nqufg2yyPublished at
2023-07-31 16:02:14Event JSON
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"content": "📅 Original date posted:2023-07-31\n🗒️ Summary of this message: The implementation of full Replace-by-Fee (RBF) could negatively impact merchants and users who rely on 0-conf transactions. GAP600 has seen strong usage of their service and believes the adoption of RBF will change their business.\n📝 Original message:\nThis would unnecessarily and extremely negatively impact merchants and\nusers who choose to accept 0-conf while using mitigation tools like GAP600.\nThis negative impact could be avoided by simply adding first seen safe rule\n- ie a trx can be replaced but needs to include the original outputs.\n\nAt GAP600 we continue to see strong use of our service for BTC we have seen\ncirca 350k unique trx hash per month (over the last 3 months) requested to\nour platform. Our clients include - Coinpayments, Coinspaid and Changelly.\nGiven the period of Mempool being full we have seen an increase in the fee\nrequired in order to be approved by our platform for trx. This is not an\ninsignificant use case and one which can be easily maintained as is.\n\nWe have provided further statistics in the past and direct feedback from\nCoinspaid CEO with in the mailing list see here -\nhttps://lists.linuxfoundation.org/pipermail/bitcoin-dev/2022-December/021240.html\n\nWe have not seen any impact of full RBF on double spend rates for our trxs\nwhich seems to put in large question the stated figure of 40% adoption by\nminers at such a rate of adoption we would expect to see a large increase\nin double spends. We expect once this setting becomes default this will\ngreatly change the adoption of this service.\nGAP600 model targets not to get it wrong and as such we are very sensitive\nto any double spend which we get wrong in predicting as we reimburse our\nclients. GAP600 is not a payment processor; rather services payment\nprocessors, merchants and non custodial liquidity providers which service\nnon-custodial wallets.\n\n________________________________\n\nDaniel Lipshitz\nGAP600| www.gap600.com\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20230731/af47128d/attachment.html\u003e",
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