Author Topic: Lifetime Membership  (Read 2273 times)

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Offline emailtooaj

how do i go about getting LT membership, and what are the benefits?

A LT membership let you create/register new user accounts, without which you need to rely on a faucet such as OpenLedger.  When the new user account is created under your name, you become the referrer.  Any transactions by that new account, and by your own LT account, will earn you a commission (eg 80%).  There are other goodies too, like an ability to register a 'nice' account name without the '-' and the digits.  You can upgrade to LT using OpenLedger or you can use the services of another LT member to register a 'proper' account name (via cli wallet) before upgrading it.  I am a LT member and if you like, I can help you to do just that.

If I upgrade my account to LM through open ledger, will I receive 80% of all fees from anyone I refer?  If not, is there a way I can create an account that will give me 80% of all fees from people I refer?

Regardless of referral status, 20% of fees go to the network.  Lifetime members get the entire remaining 80% of their own fees back.

When openledger (or anyone else) registers an account, they fill in who referred the new account and can allocate that 80% between the referrer and themselves.

Basically what I'm asking is; I don't want open ledger to get any of the 80% of fees of people I refer, how do I do that?

From what I understand so far. They will get 80% of my fee when I upgrade my account to LM. So they will receive 16000 bts.  I just want to verify that they will never receive a bts from any people I refer after I upgrade to a lifetime membership.

If you want to be sure you get the entire 80% of the fees from people you refer, you'll need to register their accounts yourself instead of using OpenLedger as a faucet to register the accounts.  If you refer users to OpenLedger to create their accounts, then OpenLedger controls how the 80% is split, so you shouldn't send people to OpenLedger unless you trust OpenLedger to give you an acceptable percentage.  Once the account is registered, OpenLedger has no power to alter the percentages.

EDIT: So practically if you want the full 80%, you should probably help your referrals set up their own full node so they aren't dependent on OpenLedger, and register their accounts for them yourself using the CLI wallet.
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Offline Troglodactyl

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how do i go about getting LT membership, and what are the benefits?

A LT membership let you create/register new user accounts, without which you need to rely on a faucet such as OpenLedger.  When the new user account is created under your name, you become the referrer.  Any transactions by that new account, and by your own LT account, will earn you a commission (eg 80%).  There are other goodies too, like an ability to register a 'nice' account name without the '-' and the digits.  You can upgrade to LT using OpenLedger or you can use the services of another LT member to register a 'proper' account name (via cli wallet) before upgrading it.  I am a LT member and if you like, I can help you to do just that.

If I upgrade my account to LM through open ledger, will I receive 80% of all fees from anyone I refer?  If not, is there a way I can create an account that will give me 80% of all fees from people I refer?

Regardless of referral status, 20% of fees go to the network.  Lifetime members get the entire remaining 80% of their own fees back.

When openledger (or anyone else) registers an account, they fill in who referred the new account and can allocate that 80% between the referrer and themselves.

Basically what I'm asking is; I don't want open ledger to get any of the 80% of fees of people I refer, how do I do that?

From what I understand so far. They will get 80% of my fee when I upgrade my account to LM. So they will receive 16000 bts.  I just want to verify that they will never receive a bts from any people I refer after I upgrade to a lifetime membership.

If you want to be sure you get the entire 80% of the fees from people you refer, you'll need to register their accounts yourself instead of using OpenLedger as a faucet to register the accounts.  If you refer users to OpenLedger to create their accounts, then OpenLedger controls how the 80% is split, so you shouldn't send people to OpenLedger unless you trust OpenLedger to give you an acceptable percentage.  Once the account is registered, OpenLedger has no power to alter the percentages.

EDIT: So practically if you want the full 80%, you should probably help your referrals set up their own full node so they aren't dependent on OpenLedger, and register their accounts for them yourself using the CLI wallet.
« Last Edit: October 31, 2015, 07:27:10 pm by Troglodactyl »

Offline lil_jay890

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how do i go about getting LT membership, and what are the benefits?

A LT membership let you create/register new user accounts, without which you need to rely on a faucet such as OpenLedger.  When the new user account is created under your name, you become the referrer.  Any transactions by that new account, and by your own LT account, will earn you a commission (eg 80%).  There are other goodies too, like an ability to register a 'nice' account name without the '-' and the digits.  You can upgrade to LT using OpenLedger or you can use the services of another LT member to register a 'proper' account name (via cli wallet) before upgrading it.  I am a LT member and if you like, I can help you to do just that.

If I upgrade my account to LM through open ledger, will I receive 80% of all fees from anyone I refer?  If not, is there a way I can create an account that will give me 80% of all fees from people I refer?

Regardless of referral status, 20% of fees go to the network.  Lifetime members get the entire remaining 80% of their own fees back.

When openledger (or anyone else) registers an account, they fill in who referred the new account and can allocate that 80% between the referrer and themselves.

Basically what I'm asking is; I don't want open ledger to get any of the 80% of fees of people I refer, how do I do that?

From what I understand so far. They will get 80% of my fee when I upgrade my account to LM. So they will receive 16000 bts.  I just want to verify that they will never receive a bts from any people I refer after I upgrade to a lifetime membership.

Offline cylonmaker2053

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thanks for the info, gents!

Offline Troglodactyl

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how do i go about getting LT membership, and what are the benefits?

A LT membership let you create/register new user accounts, without which you need to rely on a faucet such as OpenLedger.  When the new user account is created under your name, you become the referrer.  Any transactions by that new account, and by your own LT account, will earn you a commission (eg 80%).  There are other goodies too, like an ability to register a 'nice' account name without the '-' and the digits.  You can upgrade to LT using OpenLedger or you can use the services of another LT member to register a 'proper' account name (via cli wallet) before upgrading it.  I am a LT member and if you like, I can help you to do just that.

If I upgrade my account to LM through open ledger, will I receive 80% of all fees from anyone I refer?  If not, is there a way I can create an account that will give me 80% of all fees from people I refer?

Regardless of referral status, 20% of fees go to the network.  Lifetime members get the entire remaining 80% of their own fees back.

When openledger (or anyone else) registers an account, they fill in who referred the new account and can allocate that 80% between the referrer and themselves.

Offline liondani

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how do i go about getting LT membership, and what are the benefits?

A LT membership let you create/register new user accounts, without which you need to rely on a faucet such as OpenLedger.  When the new user account is created under your name, you become the referrer.  Any transactions by that new account, and by your own LT account, will earn you a commission (eg 80%).  There are other goodies too, like an ability to register a 'nice' account name without the '-' and the digits.  You can upgrade to LT using OpenLedger or you can use the services of another LT member to register a 'proper' account name (via cli wallet) before upgrading it.  I am a LT member and if you like, I can help you to do just that.

If I upgrade my account to LM through open ledger, will I receive 80% of all fees from anyone I refer?  If not, is there a way I can create an account that will give me 80% of all fees from people I refer?

That's what I understand...

Offline lil_jay890

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how do i go about getting LT membership, and what are the benefits?

A LT membership let you create/register new user accounts, without which you need to rely on a faucet such as OpenLedger.  When the new user account is created under your name, you become the referrer.  Any transactions by that new account, and by your own LT account, will earn you a commission (eg 80%).  There are other goodies too, like an ability to register a 'nice' account name without the '-' and the digits.  You can upgrade to LT using OpenLedger or you can use the services of another LT member to register a 'proper' account name (via cli wallet) before upgrading it.  I am a LT member and if you like, I can help you to do just that.

If I upgrade my account to LM through open ledger, will I receive 80% of all fees from anyone I refer?  If not, is there a way I can create an account that will give me 80% of all fees from people I refer?

Offline cube

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how do i go about getting LT membership, and what are the benefits?

A LT membership let you create/register new user accounts, without which you need to rely on a faucet such as OpenLedger.  When the new user account is created under your name, you become the referrer.  Any transactions by that new account, and by your own LT account, will earn you a commission (eg 80%).  There are other goodies too, like an ability to register a 'nice' account name without the '-' and the digits.  You can upgrade to LT using OpenLedger or you can use the services of another LT member to register a 'proper' account name (via cli wallet) before upgrading it.  I am a LT member and if you like, I can help you to do just that.
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Offline cylonmaker2053

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how do i go about getting LT membership, and what are the benefits?

Offline cube

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Ok thanks for clarification. Is there a specific algorithm used to calculate?

eg if BTS goes to $1 I'm presuming it will around 100 BTS to upgrade

The aim is for USD100.  I think it is around USD80 given the current bts price.
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Offline KD

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Ok thanks for clarification. Is there a specific algorithm used to calculate?

eg if BTS goes to $1 I'm presuming it will around 100 BTS to upgrade

Offline cube

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Lifetime membership is not based on the duration of the account but some other criteria eg those who made referrals before.

The LT registration fee is 'pegged' to real fiat term.  bts price has dropped about 50% in real fiat term.  The doubling in bts fee is to re-align the fee back to the planned fiat rate.

Hi Guys,

I registered my account back in September 2014.

I have read some people have had their accounts default to Lifetime Membership when transferring to Bitshares 2.0 so would have expected my account to do this as well, is this correct?

I have just upgraded to Lifetime Membership fee, which is now 20,000 BTS which was about 1/3 of my holdings, I also read that this fee recently doubled and could be reduced at a later date.

What's going on here? Did I upgrade at exactly the wrong time?   ??? Should have my account defaulted to Lifetime membership as it is over 12 months old?

Thanks,
K
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Offline KD

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Hi Guys,

I registered my account back in September 2014.

I have read some people have had their accounts default to Lifetime Membership when transferring to Bitshares 2.0 so would have expected my account to do this as well, is this correct?

I have just upgraded to Lifetime Membership fee, which is now 20,000 BTS which was about 1/3 of my holdings, I also read that this fee recently doubled and could be reduced at a later date.

What's going on here? Did I upgrade at exactly the wrong time?   ??? Should have my account defaulted to Lifetime membership as it is over 12 months old?

Thanks,
K