@s{quotedtext}
@s{quotedtext}
Relevant recent IRC discussion: http://bitcoinstats.com/irc/bitcoin-dev/logs/2012/07/11/6#l3981048
Bottom line: I think transaction replacement is important, but if we just enable it as-is then I think we open up the entire network to an easy DoS attack.
And I think the incentives for miners aren't right. I think the rule for what version of a transaction will be included in blocks has to be something like "the one that pays miners most OR the one that pays miners first (if there are several with the same fee)."
So I think a scheme where transaction fees are increased, or lock times are decreased, with every transaction replacement is the right way to go.