Quote from: Odalv on July 08, 2015, 06:02:57 PM

Quote from: cypherdoc on July 08, 2015, 05:58:39 PM

Quote from: Odalv on July 08, 2015, 05:54:07 PM

Did he calculate how much will cost memory to keep this spam ?

Your missing the point that the spammer wouldn't even try it at that cost.

If your calculation is right then using 1 mb block he has to pay $10 million per year. (and $100M if we rise fee to $0.6)

Sunny King, the genius who created Peercoin and Primecoin, wades into the Great Fee Debate:

Quote

July 07, 2015, 10:30:33 PM

Weekly Update #150

With the recent transaction volume on bitcoin network, I would like to discuss the transaction fee policy of peercoin/primecoin. I have always felt that the transaction fee design of bitcoin is overly complex, so peercoin/primecoin simplified it quite a bit, so users could have easier understanding of the policy. However, the deeper issue with bitcoin's technology is that, due to the nature of the decentralization technology, it's inherently a rather expensive settlement network. This means it's more suitable to act as a backbone network for financial systems, rather than to compete with centralized payment networks on volume and cost. This isn't obvious when bitcoin userbase is still limited, but the situation will get more and more obvious as its popularity grows.
Originally bitcoin's transaction fee was defaulted to 0.01BTC. In fact I think this original default value was quite good, it beats having an overly complicated system in my opinion. Think about it, at current valuation it's still only one tenth the cost of bank wire networks. To prematurely increase the scale of the network, to compete against networks such as paypal or credit cards, would cause a significant loss of decentralization which by the way is what bitcoin technology and philosophy is all about. It appears that bitcoin developers are not guarding the fundamental principles with enough vigilance.
In such spirit both peercoin/primecoin set default transaction fee to a required 0.01 coin per KB of data, in a simplified and effective fee policy from old bitcoin. The situation in bitcoin is closedly watched, the current fee policy in peercoin/primecoin likely would remain in place when upgrading to latest bitcoin codebase in the future.

I agree with this.

PS IDK and DGAF who Rochard is, his riff on Benjamin Franklin is deliciously trenchant.

...Ah, I see he's an MPEX cohort. Heh, no wonder mention of his name so hurts your butt. Grin