Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
STT
on 07/05/2018, 05:57:17 UTC

Yet we have known since Adam Smith that the hidden hand of the marketplace will ensure that the optimal solution is arrived at by letting prices find their own equilibrium. This has been more formalized in more recent times in that the price and quantity of a good will be set at the point where the demand/price curve and the supply/price curve intersect. Further still, dead losses are incurred any time production quotas are enforced. Given this, why do you assert the utility of a production quota on transaction throughput? Why not trust miners to set the tx throughput supply to maximize profit under the demand and supply curves?

The reason BTC price rises so much is unlike most commodity markets the supply is fixed and not subject to oversupply as much as a normal market that will increase production to match the increased profit available.   
I like the general point about freedom of production but I think its more reliable to keep a quota of blocks in this case, security is the main purpose that must be served

Quote
Scaling will have to come from second layer solutions.
I prefer this as it should increase stability and support and also I think it promotes innovation and creativity, any failures of those ideas occur off the main chain.  Leaving BTC to be the most regular reliable central blockchain


 9231 support & 9909 ceiling, both fib lines seem a good match to action recently.