From: Peter Todd <pete@petertodd•org>
To: Benjamin <benjamin.l.cordes@gmail•com>
Cc: bitcoin-dev@lists•linuxfoundation.org
Subject: Re: [bitcoin-dev] A Proposed Compromise to the Block Size Limit
Date: Sat, 27 Jun 2015 13:54:28 -0400 [thread overview]
Message-ID: <20150627175428.GA2259@muck> (raw)
In-Reply-To: <CAOoPuRbqdWWGRL7mRReMdSct2dsiFw_X9YtNJWquZS=fsCdCDQ@mail.gmail.com>
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On Sat, Jun 27, 2015 at 07:46:55PM +0200, Benjamin wrote:
> There is no ensured Quality of service, is there? If you "bid" higher, then
> you don't know what you are going to get. Also because you have no way of
> knowing what *others* are bidding. Only if you have auctions (increasing
> increments) you can establish a feedback loop to settle demand and supply.
> And the supply side doesn't adapt. Adapting supply would help resolve parts
> of the capacity problem.
There's lots of markets where there is no assured quality of service,
and where the bids others are making aren't known. Most financial
markets work that way - there's only ever probabalistic guarantees that
for a given amount of money you'll be able to buy a certain amount of
gold at any given time for instance. Similarly for nearly all
commodities the infrastructure required to mine those commodities has
very little room for short, medium, or even long-term production
increases, so whatever the production supply is at a given time is
pretty much fixed.
--
'peter'[:-1]@petertodd.org
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next prev parent reply other threads:[~2015-06-27 17:54 UTC|newest]
Thread overview: 43+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-06-27 14:39 Michael Naber
2015-06-27 15:21 ` Peter Todd
2015-06-27 15:29 ` Randi Joseph
2015-06-27 15:32 ` Peter Todd
2015-06-27 16:19 ` Michael Naber
2015-06-27 17:20 ` Peter Todd
2015-06-27 17:26 ` Benjamin
2015-06-27 17:37 ` Peter Todd
2015-06-27 17:46 ` Benjamin
2015-06-27 17:54 ` Peter Todd [this message]
2015-06-27 17:58 ` Venzen Khaosan
2015-06-27 19:34 ` Benjamin
2015-06-27 15:33 ` Adam Back
2015-06-27 16:09 ` Michael Naber
2015-06-27 16:28 ` Mark Friedenbach
2015-06-27 16:37 ` Peter Todd
2015-06-27 17:25 ` Michael Naber
2015-06-27 17:34 ` Peter Todd
2015-06-27 18:02 ` Jameson Lopp
2015-06-27 18:47 ` Peter Todd
2015-06-28 5:34 Raystonn
2015-06-28 10:07 ` Adam Back
2015-06-28 10:29 ` Benjamin
2015-06-28 12:37 ` Adam Back
2015-06-28 16:32 ` Raystonn .
2015-06-28 17:12 ` Mark Friedenbach
2015-06-28 17:18 ` Benjamin
2015-06-28 17:29 ` Gavin Andresen
2015-06-28 17:45 ` Mark Friedenbach
2015-06-28 17:51 ` Adam Back
2015-06-28 18:58 ` Adam Back
2015-06-28 21:05 ` Gavin Andresen
2015-06-28 21:23 ` Michael Naber
2015-06-28 22:07 ` Adam Back
2015-06-29 0:59 ` Eric Lombrozo
2015-06-29 1:13 ` Eric Lombrozo
2015-06-29 1:45 ` Andy Schroder
2015-06-30 0:42 ` Tom Harding
2015-07-10 2:55 ` Tom Harding
2015-06-28 17:53 ` Jorge Timón
2015-06-28 19:22 ` Andrew Lapp
2015-06-28 19:40 ` Benjamin
2015-06-28 12:32 ` Milly Bitcoin
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