Quote from: coinft on May 12, 2015, 07:56:32 PM

Quote from: manselr on May 12, 2015, 06:28:49 PM

Quote from: Nagle on May 06, 2015, 07:05:54 PM

The free market provides a solution. When the block size fills up, people will pay higher transaction fees to get their transactions through. Free riders paying zero or low transaction fees won't get their transactions processed.

The block size can only be increased if the big miners agree, and it's not in their interest to increase it.

What happens if you dont pay the required fee an your transaction is never processed? you lose the money?

You double spend your own transaction with a higher fee, or you pay a miner directly to include it.

That can be automated. Clients should observe the recent blockchain to see what the going rate is for confirmed transactions. They then adjust their transaction fee accordingly. If a transaction isn't getting confirmed, double-spend to cancel it, then resubmit with a higher transaction fee. Transaction fees then go up and down automatically. This requires no changes to the blockchain, and any client can implement it without affecting other clients.