Quote from: jgarzik on February 01, 2013, 06:09:52 PM

Quote from: MatthewLM on February 01, 2013, 06:00:05 PM

If the transaction fees are changed to algorithmically follow the block space as I expect would be an alternative solution to this, what will happen is that bitcoin will become expensive enough for an alternative crypto-currency to arise. An alternative to bitcoin which is cheaper will succeed and bitcoin will fail. Thus the only way to keep bitcoin alive is to allow for more volume, such that demand can be satisfied.

Boy that's a shortsighted analysis.

Bitcoin will grow layers above the base layer -- the blockchain -- that will enable instant transactions, microtransactions, and other scalable issues.

Do not think that the blockchain is the only way to transfer bitcoins.

Larger aggregators will easily compensate for current maximum block size in a scalable manner.

All nation-state/fiat currencies are multi-layer. Too many people look at what bitcoin does now, and assume that those are the only currency services that will ever exist.

Highly agreed, I also think all the changes could be done at higher level without modifying the original protocal, to keep the integrity of the blockchain