From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 2B100BC8 for ; Sat, 27 Jun 2015 17:54:35 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from outmail149101.authsmtp.com (outmail149101.authsmtp.com [62.13.149.101]) by smtp1.linuxfoundation.org (Postfix) with ESMTP id 95EC2279 for ; Sat, 27 Jun 2015 17:54:34 +0000 (UTC) Received: from mail-c235.authsmtp.com (mail-c235.authsmtp.com [62.13.128.235]) by punt15.authsmtp.com (8.14.2/8.14.2/) with ESMTP id t5RHsWgH044961; Sat, 27 Jun 2015 18:54:32 +0100 (BST) Received: from muck (cpe-74-66-142-58.nyc.res.rr.com [74.66.142.58]) (authenticated bits=128) by mail.authsmtp.com (8.14.2/8.14.2/) with ESMTP id t5RHsSsm098860 (version=TLSv1/SSLv3 cipher=DHE-RSA-AES128-SHA bits=128 verify=NO); Sat, 27 Jun 2015 18:54:31 +0100 (BST) Date: Sat, 27 Jun 2015 13:54:28 -0400 From: Peter Todd To: Benjamin Message-ID: <20150627175428.GA2259@muck> References: <1EF70EBC-8BB8-4A93-8591-52B2B0335F6C@petertodd.org> <20150627172011.GB18729@muck> <20150627173724.GA30546@muck> MIME-Version: 1.0 Content-Type: multipart/signed; micalg=pgp-sha256; protocol="application/pgp-signature"; boundary="jI8keyz6grp/JLjh" Content-Disposition: inline In-Reply-To: X-Server-Quench: 90276eb3-1cf5-11e5-b396-002590a15da7 X-AuthReport-Spam: If SPAM / abuse - report it at: http://www.authsmtp.com/abuse X-AuthRoute: OCd2Yg0TA1ZNQRgX IjsJECJaVQIpKltL GxAVKBZePFsRUQkR aQdMdAUUEkAaAgsB AmMbWlxeVVl7WmI7 bA5PawNDY05MQQBi T01BRU1TWkFtY2RC ZV1DUhB6fwNGNn9y ZERmEHlbXkN8IBR+ X08HQ2gbZGY1bX1N U0leagNUcgZDfk5E bwQuUz1vNG8XDSg5 AwQ0PjZ0MThBHWx8 CjkXKkoVWksHVhU7 QggYGjAuBkBNWyJ7 MxwrYnQYG00Sen4z I1ZpfVMdMgN6 X-Authentic-SMTP: 61633532353630.1023:706 X-AuthFastPath: 0 (Was 255) X-AuthSMTP-Origin: 74.66.142.58/587 X-AuthVirus-Status: No virus detected - but ensure you scan with your own anti-virus system. X-Spam-Status: No, score=-2.6 required=5.0 tests=BAYES_00,RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Cc: bitcoin-dev@lists.linuxfoundation.org Subject: Re: [bitcoin-dev] A Proposed Compromise to the Block Size Limit X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sat, 27 Jun 2015 17:54:35 -0000 --jI8keyz6grp/JLjh Content-Type: text/plain; charset=us-ascii Content-Disposition: inline Content-Transfer-Encoding: quoted-printable 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, th= en > 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 par= ts > 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. --=20 'peter'[:-1]@petertodd.org 0000000000000000007fc13ce02072d9cb2a6d51fae41fefcde7b3b283803d24 --jI8keyz6grp/JLjh Content-Type: application/pgp-signature; name="signature.asc" Content-Description: Digital signature -----BEGIN PGP SIGNATURE----- iQGrBAEBCACVBQJVjuNRXhSAAAAAABUAQGJsb2NraGFzaEBiaXRjb2luLm9yZzAw MDAwMDAwMDAwMDAwMDAwMDdmYzEzY2UwMjA3MmQ5Y2IyYTZkNTFmYWU0MWZlZmNk ZTdiM2IyODM4MDNkMjQvFIAAAAAAFQARcGthLWFkZHJlc3NAZ251cGcub3JncGV0 ZUBwZXRlcnRvZC5vcmcACgkQwIXyHOf0udw2cQgAhzHNo3xmqZl8Oj7JHjF27FX1 SeC2FJi24VXbMQ6fARNnI97ibbUnDoyf3vFC+Xyiq+hFy8CzHfhFbQNA9T43rrlY M+kV1sYUDyW2B43JK4+gX2eopWv+SsjvAnXFzwRkI+2NPQnMXdz+zFtSGrQTFeIV JXkn9OkdbqlyG3+rrRtPoZXYEblFvWsYBQJlwENaak3QsY1vawEjunnNR7g74kXg QYYH1CtdmNXih0AA8oj0TSwtR68OlqwwMOfmO4ooGmws8iqWp9ND1FCZXFbYiU30 zleHdA6/4PRcO406nPKRIQfq52L6jCPdgxP8deWV9A7wBMIEEzXQkLoC4WXXuA== =YMn4 -----END PGP SIGNATURE----- --jI8keyz6grp/JLjh--