Gavin Andresen - 2011-06-06 01:57:55

RE: Fee sheet:  won't work, miners will lie to get higher fees.

RE: analyzing previous blocks to determine fees:  I think it could work. Keeping track of how long transactions take to get into a block and looking at what transactions are in past blocks would, I think, work pretty well.  Until/unless the criteria for including transactions gets really complicated.  And new clients that haven't seen many transactions (and so can't tell how long prior transactions had to wait before being included in a block) might be an issue.

When we have multiple client implementations one of the ways I imagine they'll compete is to have smarter calculate-the-optimal-fee algorithms ("Use SpiffyBits(tm) and pay 2% lower transaction fees than the original bitcoin client!").

RE: hashcash for transactions:  that is exactly equivalent to fees (because you could be hashing to earn block rewards instead of hashing to get your transactions accepted).

RE: limiting number of small/free transactions that can go through a node in a given timespan:  we're already doing that.

RE: canceling transactions:  are there really people who would rather have their transaction tied up for half a day because they don't want to pay a half-a-penny fee?

RE: randomly dropping low-priority txns: interesting idea. I've been thinking that dropping the connection to a peer that is sending you "too many" low-priority transactions might be a good idea (where "too many" is maybe N standard deviations away from the number your average peer is sending you... or something....)