Quote from: johnyj on March 08, 2013, 06:30:55 AM

Quote from: Mike Hearn on March 06, 2013, 09:44:20 AM

By default Bitcoin will not created blocks larger than 250kb even though it could do so without a hard fork. We have now reached this limit. Transactions are stacking up in the memory pool and not getting cleared fast enough.

What this means is, you need to take a decision and do one of these things:

Start your node with the -blockmaxsize flag set to something higher than 250kb, for example -blockmaxsize=1023000. This will mean you create larger blocks that confirm more transactions. You can also adjust the size of the area in your blocks that is reserved for free transactions with the -blockprioritysize flag.
Change your nodes code to de-prioritize or ignore transactions you don't care about, for example, Luke-Jr excludes SatoshiDice transactions which makes way for other users.
Do nothing.

If everyone does nothing, then people will start having to attach higher and higher fees to get into blocks until Bitcoin fees end up being uncompetitive with competing services like PayPal.

If you mine on a pool, ask your pool operator what their policy will be on this, and if you don't like it, switch to a different pool.

I suggest that all the pools and miners take this chance and DO NOTHING, and we will see if bitcoin really end up being driven out by PayPal Roll Eyes

I think they are totally two different network and surve different purpose. I use paypal mainly because I want to spend inflative fiat money as quick as possible, and it can guarantee a charge back and give me invoice. But bitcoin just can't do that no matter how low the fee is. Bitcoin protect merchant but not consumer, so it will not be used by mass scale of consumers, maybe mostly gamblers Wink

Paypal invoices you for things merchants sell? Kind of hard to believe Roll Eyes

Merchants are the ones who must invoice you, not the payment processors. Even if you pay with bitcoin the merchant must give you the invoice with the value in whatever is legal tender in his country.