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+From: simondev1 <random@gmx.ch>
+To: bitcoin-dev@lists.linuxfoundation.org
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+Subject: [bitcoin-dev] new BIP: Self balancing between excessively low/high
+ fees and block size
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+
+<html><head></head><body><div style="font-family: Verdana;font-size: 12.0px;"><div style="font-family: Verdana;font-size: 12.0px;">
+<div class="signature">
+<div class="signature">
+<div>Dear bitcoin developers,</div>
+
+<div>&nbsp;</div>
+
+<div>New BIP: <a href="https://github.com/bitcoin/bips/pull/774" target="_blank">https://github.com/bitcoin/bips/pull/774</a></div>
+
+<div>&nbsp;</div>
+
+<div>==Abstract==</div>
+
+<div>Logarithm of transaction fee limits block size.</div>
+
+<div>&nbsp;</div>
+
+<div>==Motivation==</div>
+
+<div>Keep block space small.<br/>
+Waste less with spam transactions.<br/>
+Auto balance Fees: Increase very low fees, Descrease very high fees.<br/>
+Allow larger size when sender pays a lot.<br/>
+Allow wallets to calculate/display how much average free block space there is for each fee price.<br/>
+Allow senders to have more control about how the fee/priority of their transaction will behave, especially in the case of increased adoption in the future.</div>
+
+<div>&nbsp;</div>
+
+<div>==Specification==</div>
+
+<div>Every transaction has to fit into the following block space:</div>
+
+<div>Input variable &#39;FeeInSatoshiPerByte&#39;: Must be positive or 0<br/>
+type: double<br/>
+unit: Satishi per byte<br/>
+Output:<br/>
+type: uint<br/>
+unit: bytes<br/>
+Formula:<br/>
+floor( log10( 1.1 + FeeInSatoshiPerByte ) * 1024 * 1024 )</div>
+
+<div>&nbsp;</div>
+
+<div>==Implementation==</div>
+
+<div>Sort transactions by FeeInSatoshiPerByte (lowest first)<br/>
+For each transaction starting from lowest FeeInSatoshiPerByte: Sum up the bytes of space used so far. Check if summed up bytes of space used so far is smaller or equal than the formula result.<br/>
+If this is valid for each transaction then the blocksize is valid.</div>
+
+<div>&nbsp;</div>
+
+<div>==Backward compatibility==</div>
+
+<div>Soft fork: If applied AND old hardcoded block size limit is kept.</div>
+
+<div>Hard fork: If applied AND old hardcoded block size limit is removed.</div>
+
+<div><br/>
+Regards, simondev1</div>
+
+<div>&nbsp;</div>
+</div>
+</div>
+</div></div></body></html>
+