On Sat, Jun 27, 2015 at 7:54 PM, Peter Todd <pete@petertodd.org> wrote:

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.

hmm? if the current ask for 1 ounce of gold is 100$, then you need to bid 100$ to get 1 ounce of gold. If tomorrow everyone agree 1ounce of gold should be worth 200$, then the bid moves accordingly. of course production changes based on prices. otherwise the economy would not function. if price of some stuff goes up, more people produce that stuff. in terms of a price for a transaction and the use of a blockchain, unfortunately there is not a way to just add computational supply. that's an inherent weakness of how blockchains are structured. ideally it would be as simple as demanding more resources as in scaling a webservices with AWS.