Quote from: Gavin Andresen on March 07, 2015, 06:15:01 PM

Quote from: jonny1000 on March 07, 2015, 05:52:51 PM

Quote from: Gavin Andresen on March 05, 2015, 09:18:27 PM

Miner profit in fiat currency = number of transactions * average transaction fee * btc-to-fiat exchange rate

Should this not be:
Miner revenue in fiat currency = number of transactions * average transaction fee * btc-to-fiat exchange rate?

Yes, I meant revenue, not profit.

Gavin, if you would like to try to maximise miner revenue in fiat currency, which I think is a good idea, will you support Jeff's BIP 100, which will enable miners to vote for the blocksize limit to maximise their long term revenue? The proposal avoids us debating about price elasticity of demand and instead lets the miners make their own decision, in a market driven way, about how to optimally maximise the parameters in the above equation.