Date: Sat, 27 Jun 2015 13:37:24 -0400
From: Peter Todd <pete@petertodd.org>
To: Benjamin <benjamin.l.cordes@gmail.com>
Message-ID: <20150627173724.GA30546@muck>
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	<CALgxB7usetoaNCObhG36TrdYgKuP4TSPPNkGatvim1oWUMxaeQ@mail.gmail.com>
	<20150627172011.GB18729@muck>
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Cc: bitcoin-dev@lists.linuxfoundation.org
Subject: Re: [bitcoin-dev] A Proposed Compromise to the Block Size Limit
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On Sat, Jun 27, 2015 at 07:26:00PM +0200, Benjamin wrote:
> "Thus we have a fixed capacity system where access is mediated by supply
> and demand transaction fees."
>=20
> There is no supply and demand. That would mean users would be able to ada=
pt
> fees and get different quality of service depending on current capacity.
> For example if peak load is 10x average load, then at those times fees
> would be higher and users would delay transactions to smooth out demand.

That's exactly how Bitcoin works already. See my article on how
transaction fees work for more details:

https://gist.github.com/petertodd/8e87c782bdf342ef18fb

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'peter'[:-1]@petertodd.org
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