Just referring back to this from the comments on the second part, and just wanted to mention I meant "annoying little problem" in the sense that it seems a shame there can't be other solutions, like how Arrow's Impossibility Theorem prevents achieving a perfect voting system (http://en.wikipedia.org/wiki/Arrow%27s_impossibility_theorem). I definitely see what you mean about this being the most optimal solution from the point of view of actual pricing and risk. The downside though is there is profit to be made in slicing time every quicker which can't be prevented without breaking something else, but the money spent on this time-slicing is broadly wasted because it is just an arms race.

So I don't think the current solution is necessarily wrong; just annoying we can't get all the benefits and also avoid the arms race.

No problem, I very much like the Talmud article and how simple the explanation works out to being.