BitPay CEO Tony Gallippi has received widespread condemnation after complaining non-SegWit Bitcoin fees were too high.
Newbery: Customers Should Vote With Their Feet
In a series of tweets, Gallippi, whose payment provider is yet to implement SegWit, implied Bitcoin was unspendable by over half of wallets.
He had used a fee estimate “20x too high,” responses then retorted, with engineer John Newbery pointing out that fees for three previous blocks were 22 satoshis/ byte or 5000 for a “standard transaction”. Gallippi had given a figure of 100,000.
“Executives of Bitcoin services companies have a duty to minimize fees for users,” Newbery added. “If they don’t, their customers should complain, or take their business elsewhere!” […]
Read Full: SegWit, Tony? BitPay CEO’s Fee Estimates ’20x Too High’
