On Fri, May 8, 2015 at 3:43 PM, Aaron Voisine <voisine@gmail.com> wrote:

This is a clever way to tie block size to fees.

I would just like to point out though that it still fundamentally is using hard block size limits to enforce scarcity. Transactions with below market fees will hang in limbo for days and fail, instead of failing immediately by not propagating, or seeing degraded, long confirmation times followed by eventual success.

There are already solutions to this which are waiting to be deployed as default policy to bitcoind, and need to be implemented in other clients: replace-by-fee and child-pays-for-parent.