📅 Original date posted:2017-12-05
📝 Original message:One way to reduce fees is to encourage usage of Replace-By-Fee, BIP 125 [0]. It allows wallets to recommend lower fees, because if a transaction gets stuck due to underestimation, the fee can easily be bumped.
Bitcoin Core has had support for RBF for a while, and as of v0.15.0 recommends lower fees [1] when the user chooses to use RBF.
I recently submitted a pull request that would turn on RBF by default, which triggered some discussion [2]. To ease the transition for merchants who are reluctant to see their customers use RBF, Matt Corallo suggested that wallets honor a no125=1 flag.
So a BIP-21 URI would look like this: bitcoin:175t...45W?amount=20.3&no125=1
When this flag is set, wallets should not use RBF, regardless of their default, unless the user explicitly overrides the merchant's preference.
Afaik adding this flag won't break existing BIP-21 support. It doesn't use the req- prefix, because it's optional. I'm also not aware of any ad hoc standards that use no125 in BIP-21-ish URIs.
- Sjors
P.S. I'd similarly suggest adding a bech32 param, but that's for another discussion
[0] https://github.com/bitcoin/bips/blob/master/bip-0125.mediawiki
[1] https://bitcoincore.org/en/2017/09/01/release-0.15.0/#better-fee-estimates
[2] https://github.com/bitcoin/bitcoin/pull/11605
[3] https://github.com/bitcoin/bitcoin/issues/11828
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Sjors Provoost [ARCHIVE] /
npub1ux…7wq7p
2023-06-07 18:08:20
in reply to nevent1q…jzaz
Author Public Key
npub1uxks6rvrzqljyfp92sffgqypf8fpts0pv2dshvmmnrse76v0avlqy7wq7pPublished at
2023-06-07 18:08:20Event JSON
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"content": "📅 Original date posted:2017-12-05\n📝 Original message:One way to reduce fees is to encourage usage of Replace-By-Fee, BIP 125 [0]. It allows wallets to recommend lower fees, because if a transaction gets stuck due to underestimation, the fee can easily be bumped.\n\nBitcoin Core has had support for RBF for a while, and as of v0.15.0 recommends lower fees [1] when the user chooses to use RBF.\n\nI recently submitted a pull request that would turn on RBF by default, which triggered some discussion [2]. To ease the transition for merchants who are reluctant to see their customers use RBF, Matt Corallo suggested that wallets honor a no125=1 flag.\n\nSo a BIP-21 URI would look like this: bitcoin:175t...45W?amount=20.3\u0026no125=1\n\nWhen this flag is set, wallets should not use RBF, regardless of their default, unless the user explicitly overrides the merchant's preference.\n\nAfaik adding this flag won't break existing BIP-21 support. It doesn't use the req- prefix, because it's optional. I'm also not aware of any ad hoc standards that use no125 in BIP-21-ish URIs.\n\n- Sjors\n\nP.S. I'd similarly suggest adding a bech32 param, but that's for another discussion\n\n[0] https://github.com/bitcoin/bips/blob/master/bip-0125.mediawiki\n[1] https://bitcoincore.org/en/2017/09/01/release-0.15.0/#better-fee-estimates\n[2] https://github.com/bitcoin/bitcoin/pull/11605\n[3] https://github.com/bitcoin/bitcoin/issues/11828\n-------------- next part --------------\nA non-text attachment was scrubbed...\nName: signature.asc\nType: application/pgp-signature\nSize: 833 bytes\nDesc: Message signed with OpenPGP\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20171205/5beec6ce/attachment.sig\u003e",
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