Fortunately, volatility does not affect the main benefits of Bitcoin as a payment system to transfer money from point A to point B. It is possible for businesses to convert bitcoin payments to their local currency instantly, allowing them to profit from the advantages of Bitcoin without being subjected to price fluctuations. Another level of concern is the possibility of cyber-criminals using BTC and abusing it like regular currency. The term ‘fiat’ refers to a traditional currency like the British pound or US dollar. However, features like Tele-calling and online chats are Binance-specific. Rusty’s proposal was that instead of creating one transaction and trying to negotiate the fees on it, we would actually create two transactions, one for the channel initiator, one for the non-channel initiator, where each one decides how much fees they’re ready to pay and what fees are taken from their output. So now, it’s going to be a very simple version of RBF, where the incentive should be properly aligned because only one party is paying the fees and they are the one proposing that RBF. So, when you have a channel non-initiator, maybe you have more of an incentive to force close than to mutual close because this way it’s going to be the channel initiator that will pay the fees.
Mike Schmidt: Yeah, I think it’s probably good to jump into the second news item, then we can continue some of this discussion. Mike Schmidt: Okay, 바이낸스 가입 so each side gets a chance to propose and while you’re doing that communication, you’re also taking advantage of that interactivity point to also exchange nonces? Mike Schmidt: You mentioned in your outline of the current way that closing is done that there was a tweak to make it down to one-and-a-half rounds of exchange, I believe. But if you play that game, the channel initiator will just blacklist you and you have to come up with a new node ID if you want to have channels with them, because force closing on someone is just, yeah, not a gentleman’s agreement. Bastien Teinturier: Yeah, even though this creates also potential issues, because the commitment transaction right now, the fees are paid by the channel initiator. Bitcoin was supposed to disintermediate the finance industry – the system of banks and middlemen and transaction fees in which a single entity can hold your money hostage. Cambridge Centre for Alternative Finance (CCAF) estimates that bitcoin consumes around 100 TW⋅h (360 PJ) annually, and says bitcoin mining uses about as much electricity as Egypt.
First, you need to determine how much of your account you are willing to risk on individual trades. Aside from that, BNB has its own trading pairs to fulfill your individual trading needs. Bastien Teinturier: Exactly. And on top of that, if you have both prepared two transactions, published them, they’re not confirming, at any point in time, you can just resend that message that says, “I’m ready to pay that fee now. So, we would have to introduce the ability for both sides to send the update fee message to change the fees of a commitment transaction. Yeah, I don’t understand why the balance is not – well, I guess in the initial balance all of the balance is on the side of the opener and that’s why they have to pay the fees. And already, with only one side of a channel being able to send that message, it creates a lot of issues, because updating the fee of a commitment transaction while you have a lot of HTLCs in flight can actually make you deep into your reserve. But after that, there’s a reserve on each side.
And please just give me a signature where you won’t pay anything and I’m going to pay that fee so that we can RBF the mutual cost transaction”, which is also a good improvement because before that, I don’t think we had any way to do RBF right now. Why is the fee for the commitment transaction paid by the opener of the channel? I understand why that would be the case for the initial open commitment, because when the opener opens a channel and the – well, I guess the other party does accept it anyway. And the other party can also say, “I want a transaction too, here is the fee I’m ready to pay. So in the end, you have two transactions that are negotiated with just one request and response, one where the initiator is paying the fee, one where the non-initiator is paying the fee, and each of them chose the fee they are ready to pay.