Hi all,
I like:
- constant block reward, as it is simple and already sufficient for a falling marginal dilution rate.
- burning fees, as it further restrains dilution and benefits all hodler equally.
- minimum relay fee plus proportional fee for newly created outputs, for being proportional with actual network costs.
I would however prefer completely burning fees as that would equal transaction cost of miner with others. In absence of equal costs a rouge miner could bloat the number of new outputs at lower cost than non-miner.
Assigning fee to miner also creates a channel to bribe them. Eg. a rouge one could fork to include a high fee new double spend and orphan a low fee confirmed spend.
I think that miner would include transactions even if fees were burned completely, since their new reward would become more precious through simultaneously burning coins of others. For the same reason miner would prefer transactions with higher fees.
If we were to require that fees burned should be less than reward in the same block, then we would avoid contraction of the monetary base. This rule combined with above minimum fees would implicitly cap size and number of new outputs per block.Garrick Ollivander
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