JorgeStolfi
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November 30, 2015, 12:38:58 PM

Roger Ver created RBF I believe. Apparently he did not like criticisms of his new forum on his old forum.

RBF is the replace-by-fee queue policy, that Peter Todd implemented and added to Core for the next release.  I don't think that Roger had anything to do with it.

With this change, a transaction that is still unconfirmed will be replaced in the queues by a later transaction that spends the same inputs (even to totally different outputs), if it pays a higher transaction fee.  Howeve the first transaction must have a tag saying that it can be replaced 9at least in this version of the patch).  

This feature is useful only when there is a backlog of unconfirmed transactions: it provides a way for the user to bump the fee on a stuck transaction, to increse its priority.  It also lets a user to cancel an incorrect trasnaction, if he notices the error and reacts before the bad transaction is confirmed.

The impact of this change on payment processors and merchants is not clear, but it is certainly not positive.

EDIT: corrected Freudian slip "cancer a transaction" to "cancel".