Quote from: delboy1978uk on July 16, 2013, 02:31:03 AM

yeah but if all the exchanges and developers worked together on this then 0.00005 would BE a cent! Just because some people threw fiat cash into the system doesnt mean fiat cash should control it. If the 0.0001 dropped to 0.00001 and the exchanges whacked the price up x 10 you think anyone would notice? ;-)

Fiat cash doesn't control. Value it in Gold, Steam Games, electricity it doesn't matter. The fact is the min mandatory fee (which exists ONLY on low priority txs) is a denial of service prevention mechanism. Dropping it to 5% of what it is now would allow one to attack the network with 20x as much tx bloat for the same cost. The min mandatory tx fee strives to make those sorts of attacks uneconomical while not preventing real transactions with excessive fees.

If you want free transactions then ensure your transactions are high priority. The fee likely will be reduced in the future eventually but likely not be before 1 BTC breaks $500 or so.