Quote from: grau on February 05, 2015, 09:16:39 AM

Quote from: amincd on February 05, 2015, 08:55:05 AM

^ Did you read the entire post? The OP fully addressed the effect on fees:

He neglects that there is no reason to pay fees, if there is no limit on supply.

Quote from: zimmah on February 05, 2015, 09:07:51 AM

just because there's the POSSIBILITY of 20MB doesnt mean you HAVE TO use it.

Since there is no marginal cost in including a transaction to the current block, a rational miner will always include a transaction with a non zero fee,
before it is included by any of its competitors.

Therefore a lower bound on fee will not work without a cartel or without a competition for space.

I prefer algorithms over cartels.

The chance of orphan blocks should provide some competition for space. Miners may find with current network topology a 4MB block is the right size. As more nodes and faster connections occur size can be adjusted. Is a hard limit an algorithm?