MIME-Version: 1.0
From: Daniel Lipshitz <daniel@gap600.com>
Date: Thu, 1 Dec 2022 14:27:16 +0200
Message-ID: <CACkWPs8-rZpGSJSEyLsg9gVAuPpHztXWSZvfGscGJCn05th0DQ@mail.gmail.com>
To: bitcoin-dev@lists.linuxfoundation.org
Content-Type: multipart/alternative; boundary="0000000000001fe4fb05eec358d0"
Subject: [bitcoin-dev] [Opt-in full-RBF] Zero-conf apps in immediate danger
Precedence: list

--0000000000001fe4fb05eec358d0
Content-Type: text/plain; charset="UTF-8"

HI All

I am the CEO of GAP600. We guarantee zero confirmed Bitcoin and other
crypto  transactions, BTC is a primary part of our business. Our guarantee
enables our customers to recognise zero-conf deposits. We reimburse our
clients value of the trx should we get it wrong and a transaction we
confirmed gets double spent.

Should full RBF become default enabled and significantly adopted this would
have a major impact on the capacity to accept zerof confs on mainnet. With
the end result being this use case will be forced to move to a different
chain, with lightning being just another option.

I wanted to share some statistics about how significant this use case is.
GAP600 clients are primarily payment processors and non custodial
liquidity providers; you can see some of our clients on our site
www.gap600.com. There are also merchants who have developed their own tools
so GAP600 statistics are only a subset of the full use case.

I do not know of any wallet, exchange or custodian who accepts zero conf
without having some sort of solution in place. The market seems to be fully
aware of the risks of zero-conf. The opt-RBF seems to be a solution which
gives a clear free choice for actors.

Statistics for consideration as a sample of the zero conf use case -


   1. As of end of Nov 2022 - GAP600 has processed i.e responded to circa
   15M transactions
   2. These transactions have a cumulative value of 2.3B USD value.
   3. We currently are seeing circa 1.5M transactions queired per month.


It's a sizable amount of trxs on mainet and we are by no means the full
market of platforms accepting zero-conf.  I realise there are other
considerations which BTC has,  I would urge you to take into account the
major risk being placed on this significant market share when deciding to
make this feature default enabled and encouraging full adoption.

Thank you for your consideration
Daniel
________________________________

Daniel Lipshitz
GAP600| www.gap600.com

--0000000000001fe4fb05eec358d0
Content-Type: text/html; charset="UTF-8"
Content-Transfer-Encoding: quoted-printable

<div dir=3D"ltr">HI All<div><br></div><div>I am the CEO of GAP600. We guara=
ntee zero confirmed Bitcoin and other crypto=C2=A0 transactions, BTC is a p=
rimary part of our business. Our guarantee enables our customers to recogni=
se zero-conf deposits. We reimburse our clients value of the trx should we =
get it wrong and a transaction we confirmed gets double spent.</div><div><b=
r></div><div>Should full RBF become default enabled and significantly adopt=
ed this would have a major impact on the capacity to accept zerof confs on =
mainnet. With the end result being this use case will be forced to move to =
a different chain, with lightning being just another=C2=A0option.</div><div=
><br></div><div>I wanted to share some statistics about how significant thi=
s use case is.=C2=A0</div><div>GAP600 clients are primarily payment process=
ors and non custodial liquidity=C2=A0providers; you can see some of our cli=
ents on our site <a href=3D"http://www.gap600.com">www.gap600.com</a>. Ther=
e are also merchants who have developed their own tools so GAP600 statistic=
s are only a subset of the full use case.=C2=A0</div><div><br></div><div>I =
do not know of any wallet, exchange or custodian who accepts zero conf with=
out having some sort of solution=C2=A0in place. The market seems to be full=
y aware of the risks of zero-conf. The opt-RBF seems to be a solution which=
 gives a clear free choice for actors.</div><div><br></div><div>Statistics =
for consideration as a sample of the zero conf use case -=C2=A0</div><div><=
br></div><div><ol><li>As of end of Nov 2022 - GAP600 has processed i.e resp=
onded to circa 15M transactions</li><li>These transactions have a cumulativ=
e value of 2.3B USD value.=C2=A0</li><li>We currently are seeing circa 1.5M=
 transactions queired per month.=C2=A0</li></ol></div><div><br></div><div>I=
t&#39;s a sizable amount of trxs on mainet and we are by no means the full =
market of platforms accepting zero-conf.=C2=A0=C2=A0I realise there are oth=
er considerations which BTC has,=C2=A0 I would urge you to take into accoun=
t the major risk being placed on this significant market share when decidin=
g to make this feature default enabled and encouraging=C2=A0full adoption.<=
/div><div><br></div><div>Thank you for your consideration</div><div>Daniel<=
/div><div><div dir=3D"ltr" class=3D"gmail_signature" data-smartmail=3D"gmai=
l_signature"><div dir=3D"ltr"><div dir=3D"ltr"><div style=3D"font-size:12.8=
px">________________________________</div><div style=3D"font-size:12.8px"><=
br></div><div style=3D"font-size:12.8px"><font face=3D"tahoma, sans-serif">=
Daniel Lipshitz</font></div><div style=3D"font-size:12.8px;color:rgb(0,0,0)=
"><font face=3D"tahoma, sans-serif">GAP600|=C2=A0<a href=3D"http://www.gap6=
00.com/" target=3D"_blank">www.gap600.com</a></font></div><div style=3D"fon=
t-size:12.8px;color:rgb(0,0,0)"><br></div></div></div></div></div></div>

--0000000000001fe4fb05eec358d0--