Quote from: WilderX on February 15, 2016, 11:07:22 AM

Quote from: BitThink on February 15, 2016, 10:57:46 AM

Quote from: WilderX on February 15, 2016, 10:50:55 AM

Quote from: BitThink on February 14, 2016, 11:51:12 PM

Etherium seems really interesting and useful, but regards the price of ETH, my main concern is as following. ETH, as we know, is the fuel of smart contracts. Suppose the cost of creating a contract is 0.01 ETH, then if ETH becomes 100 USD each, the cost will be $1, appreantly too much. We can certainly reduce the cost to 0.0001 or lower, but then it reduce the demand and effectively creates an inflation.

Meanwhile, Etherium is an open source project; after changing to PoS, nothing stops others to create a clone with much lower fuel price. All users can easily switch as long as the VM is compatible. Therefore, we can expect the fuel will always be low, and so is the ETH price in long term, for etherium to be successful.

Any thoughts? I wish someone could prove I am wrong and then I could spend more on ETH investing.

Hi, from what I have gathered from the official Ethereum blog posts is that once Ethereum have been scaled to capeable of handling 100000 transactions per second as opposed to now 10-20 transactions per second the "gas price" or simply in other words the ETH you pay for block space will go down of equal proportion. That is what my logic tells it should be since then there will be so much more block space so transactions should be cheaper, but I am not 100% sure this is how the Ethereum protocol will work it could be wrong assumption or can someone confirm this?

Shards implementation will be very interesting if Vitaliks theory works.

This is a good news, but 100K transactions per second seems really unrealistic for a distributed system. Really need to check their papers carefully for me to believe this number.

It's here: (look at the paragraph named scalability)
https://blog.ethereum.org/2015/10/18/vitaliks-research-and-ecosystem-update/

Whether or not they deliver remains to be seen.

Thanks a lot. Will read it carefully.