Why don't we set up a 1kb limit? That way the miners will earn a lot more from fees 
[/ironic]
Oh yes! because that way people would start making trades off the chain, and miners won't get those 'big fees' they are coveting. There's an optimum where the miners have the biggest earnings and don't encourage people to use whatever else coin (phisical or virtual) to trade.
Right now i like this.
I think 1mb should be the smallest limit, but maybe i want to accept 4 mb of transactions, for whatever reason, and earn a lot more from fees. Maybe i've got a rig of asics and i can process a lot more mb in 10 minutes instead of pushing up the dificulty. So, maybe a GPU miner, can mine 1mb blocks, and an asic miner can mine 20 mb blocks for the same difficulty, having then the same odds of solving the problem.
I am just thinking aloud
[/ironic]Oh yes! because that way people would start making trades off the chain, and miners won't get those 'big fees' they are coveting. There's an optimum where the miners have the biggest earnings and don't encourage people to use whatever else coin (phisical or virtual) to trade.
I am all for "let-the-market-decide" elastic algorithms.
Right now i like this.
I think 1mb should be the smallest limit, but maybe i want to accept 4 mb of transactions, for whatever reason, and earn a lot more from fees. Maybe i've got a rig of asics and i can process a lot more mb in 10 minutes instead of pushing up the dificulty. So, maybe a GPU miner, can mine 1mb blocks, and an asic miner can mine 20 mb blocks for the same difficulty, having then the same odds of solving the problem.
I am just thinking aloud