Your mention of minimum fees begs the question tho: HOW DOES THE PROTOCOL ACCOUNT FOR EITHER ENFORCING OR CHANGING 1 SATOSHI PER BYTE?
Could you devote an entire article for Satoshi’s vision on OP_RETURN data fees? This has obviously become an important concept as:
- People have begun experimenting with uploading data to the immutable blockchain ledger in increasing sizes
- The price of BitCoin is going up such that (at least in the short term) the price of putting data on-chain is going up (in fiat currencies)
In Short: What is the protocol’s mechanism by which miners compete on price?