Author Topic: Lets vote for lower fees!  (Read 10011 times)

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Offline Empirical1.2

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guys, you are OK with the current fee.
but in fact, Chinese and other developing country will never accept the high transfer fee.
In China we spent no fee with alipay and most  bank card.
BTS will lose these market if the fee still keep about 0.6CNY
If you don't care about these market, OK, just keep higer fees. wish enough American like BTS and can be a real user.
+5%

Here in Argentina:
* Free bank accounts (no CC, just saving)
* No transfer fees (below 30K ARS)
* Instant transfers


I agree

You agree to what? That money can be transferred for free?
This is not true. You pay for it but refuse to realize it.

Jakub why do you think BTC is going up right now? A lot of people are pointing to increased capital controls in China.
http://www.zerohedge.com/news/2015-10-16/capital-controls-blowback-bitcoin-surges-back-pre-china-currency-wars-levels

Do you know Argentina is one of if not the most lucrative BitAsset markets because of capital controls and  USD demand?

These countries are the BitAsset target markets.

If they say the fees are too high we need to listen.

I understand that we can't target the micro-transaction market, or please everyone and though I don't know how complicated it is, I do believe we need a percentage based system with a minimum fee of $0.01 or $0.02.

It's not fair to compare our fees to bitcoin and other crypto - we offer a price stable crypto-currency free of counterparty risk. This is absolutely unique in the crypto world and as long as we are not forced to lower the fees by competition offering a comparable product, we should take advantage of this situation and keep the prices as they are. If you want to compare our prices with other crypto do it thoroughly: include all conversion costs and the counterparty risk.

No we don't, we have a relatively new, risky, complicated product that is not particularly liquid with very limited third party support. 
(So we're not competing with PayPal or online use of debit cards at this stage as some are suggesting.)

The key target markets that could be motivated to try it at this stage are places like Argentina, Greece, China etc.

Those lower fees based on a percentage system could still make the referral programme lucrative in lower income countries. While we will presumably be doing higher size transactions on average so Westerners referral programme will not be affected. If the system becomes so popular that we don't have the capacity to support smaller transaction sizes, then it can be addressed.
« Last Edit: October 18, 2015, 12:17:15 pm by Empirical1.2 »
If you want to take the island burn the boats

jakub

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guys, you are OK with the current fee.
but in fact, Chinese and other developing country will never accept the high transfer fee.
In China we spent no fee with alipay and most  bank card.
BTS will lose these market if the fee still keep about 0.6CNY
If you don't care about these market, OK, just keep higer fees. wish enough American like BTS and can be a real user.
+5%

Here in Argentina:
* Free bank accounts (no CC, just saving)
* No transfer fees (below 30K ARS)
* Instant transfers


I agree

You agree to what? That money can be transferred for free?
This is not true. You pay for it but refuse to realize it.

Offline Moon

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guys, you are OK with the current fee.
but in fact, Chinese and other developing country will never accept the high transfer fee.
In China we spent no fee with alipay and most  bank card.
BTS will lose these market if the fee still keep about 0.6CNY
If you don't care about these market, OK, just keep higer fees. wish enough American like BTS and can be a real user.
+5%

Here in Argentina:
* Free bank accounts (no CC, just saving)
* No transfer fees (below 30K ARS)
* Instant transfers


I agree

jakub

  • Guest
I think we should keep the fees as they are.

It's not fair to compare our fees to bitcoin and other crypto - we offer a price stable crypto-currency free of counterparty risk. This is absolutely unique in the crypto world and as long as we are not forced to lower the fees by competition offering a comparable product, we should take advantage of this situation and keep the prices as they are. If you want to compare our prices with other crypto do it thoroughly: include all conversion costs and the counterparty risk.

In China we spent no fee with alipay and most  bank card.
This is not fair, either. You perceive it as free but actually you pay for it but the cost is hidden in other products' prices (or you pay for it by being exposed to advertising but the end result is the same, the customer eventually pays for it).
Transferring money has its cost and there is no such thing as free service in this business.
« Last Edit: October 18, 2015, 10:38:32 am by jakub »

Offline ElMato

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guys, you are OK with the current fee.
but in fact, Chinese and other developing country will never accept the high transfer fee.
In China we spent no fee with alipay and most  bank card.
BTS will lose these market if the fee still keep about 0.6CNY
If you don't care about these market, OK, just keep higer fees. wish enough American like BTS and can be a real user.
+5%

Here in Argentina:
* Free bank accounts (no CC, just saving)
* No transfer fees (below 30K ARS)
* Instant transfers

Offline Saleh

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 +5%
guys, you are OK with the current fee.
but in fact, Chinese and other developing country will never accept the high transfer fee.
In China we spent no fee with alipay and most  bank card.
BTS will lose these market if the fee still keep about 0.6CNY
If you don't care about these market, OK, just keep higer fees. wish enough American like BTS and can be a real user.
PTS:PdgL56dBh5fhL3qfk8BMEYEpUQcqGDHKhj
BTSX:bitcoiner

Offline alt

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guys, you are OK with the current fee.
but in fact, Chinese and other developing country will never accept the high transfer fee.
In China we spent no fee with alipay and most  bank card.
BTS will lose these market if the fee still keep about 0.6CNY
If you don't care about these market, OK, just keep higer fees. wish enough American like BTS and can be a real user.

Offline spartako

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I would disagree to lower the fees at this point. The referral program has not even started, and it requires a substantial portion of the fees to make a meaningful contribution to actually work.

The fee right of this moment is 8 us cents, and a lifetime membership upgrade is 41 USD, which lowers the fee to 1.6 cents, which is very reasonable.

Each transaction brings 6.4 cents to the referral market
1.6 cents are being burned OR are put into the worker fund (when the fund is not full)

That means each transaction FUNDS our software developers so they can continue to enhance our platform and make things better and easier to use.


Decentralized marketeers are waiting for the referral program to launch, it has not even started, so why would you want to kill the referral market before it has even launched?? 6.4 cent for each transaction is a PRETTY GOOD DAMN argument to bring in new users. That's alot of money right here on the table.

However, I would suggest to lower the fees for smaller transactions. It does not make sense to charge 20BTS for a 100BTS fee, a small %-fee would be more suitable here.

Let's put this fee into comparison of what I'm paying to my banks here in Germany:

I'm paying 5 Euros per month flat for my personal bank account, and doing maybe 25 transactions a month, this equals a 0.20 euro/tx fee.

I'm paying 20 euros flat for my corporate bank account, plus 5 cents per transactions and I'm doing roughly 30 transactions here per month. This equals 0.73 Euro/tx fee.

Now compare this to the BTS fees. We're not trying to compete with Bitcoin (which has 3-4 cents fees!) or any other cryptocurrency but we're trying to compete with creditcards, bank accounts, stock portfolio accounts etc. I think we're VERY competitive when you compare us to dwolla, paypal and any other bank. This is what counts!



My 2BTS.

 +5%
We can set 5BTS for "small" transaction and I'm ok with the current system
wallet_account_set_approval spartako

Offline mindphlux

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I would disagree to lower the fees at this point. The referral program has not even started, and it requires a substantial portion of the fees to make a meaningful contribution to actually work.

The fee right of this moment is 8 us cents, and a lifetime membership upgrade is 41 USD, which lowers the fee to 1.6 cents, which is very reasonable.

Each transaction brings 6.4 cents to the referral market
1.6 cents are being burned OR are put into the worker fund (when the fund is not full)

That means each transaction FUNDS our software developers so they can continue to enhance our platform and make things better and easier to use.


Decentralized marketeers are waiting for the referral program to launch, it has not even started, so why would you want to kill the referral market before it has even launched?? 6.4 cent for each transaction is a PRETTY GOOD DAMN argument to bring in new users. That's alot of money right here on the table.

However, I would suggest to lower the fees for smaller transactions. It does not make sense to charge 20BTS for a 100BTS fee, a small %-fee would be more suitable here.

Let's put this fee into comparison of what I'm paying to my banks here in Germany:

I'm paying 5 Euros per month flat for my personal bank account, and doing maybe 25 transactions a month, this equals a 0.20 euro/tx fee.

I'm paying 20 euros flat for my corporate bank account, plus 5 cents per transactions and I'm doing roughly 30 transactions here per month. This equals 0.73 Euro/tx fee.

Now compare this to the BTS fees. We're not trying to compete with Bitcoin (which has 3-4 cents fees!) or any other cryptocurrency but we're trying to compete with creditcards, bank accounts, stock portfolio accounts etc. I think we're VERY competitive when you compare us to dwolla, paypal and any other bank. This is what counts!



My 2BTS.
« Last Edit: October 17, 2015, 04:24:43 pm by mindphlux »
Please consider voting for my witness mindphlux.witness and my committee user mindphlux. I will not vote for changes that affect witness pay.

Offline Empirical1.2

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1 BTS is too cheap. $0.004. Even 1 000 000 users doing 1 transfer a day would be $120 000 monthly and only $24 000 for BTS.
 
However a flat fee system is incorrect imo especially while the BTS network has the capacity for more transactions.

A system with X capacity is a bit like a hotel I guess. You want to get the most money for your bedrooms at peak times but you also don't want empty beds if you're already paying for the running cost of the hotel anyway. 

So I still think something like 0.1% with a minimum of $0.01 and maximum of $0.1/$0.2 would be better.

1 million users doing a transaction a day at $0.05 on average is $1.5 million a month, and $250 000 for BTS, so it's certainly worth targetting the low transaction size (but not micro-transaction) market that we might miss out on. While still getting the $0.1 to $0.2 fee from the higher size transaction market.
If you want to take the island burn the boats

Offline BTSdac

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low fee for transfer and trading, others can higher, especially the register fee
low fee for transfer and trading, others can higher, especially the register fee
high trading fee increase cost of market maker,
but market maker can become life time member to reduce fee by 80%
and register is a basic service for user , so also should been low fee
bond fee can high ,because boud participant is highrisk participant, they can get/lose more , so they do net care fee!
github.com :pureland
BTS2.0 API :ws://139.196.37.179:8091
BTS2.0 API 数据源ws://139.196.37.179:8091

Offline Moon

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OK,

now 1 bts ? bm  will not be happy

Offline alt

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Market Orders are 0.1 BTS
Canceling Orders is 0.1 BTS
Transfer 0.1 BTS

i think  this is reasonable

lol 0.1? You there are two and a half billion coins. We definetely need to reduce fees on placing orders, but that's ridicously low. You think the fees will make you poor or what? Make it between 1 and 5 BTS
yes, I chose 1 BTS.

Offline Akado

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Market Orders are 0.1 BTS
Canceling Orders is 0.1 BTS
Transfer 0.1 BTS

i think  this is reasonable
+5%
20 BTS is too high.I don't want to use the system, it's too expensive.

But it definitely doesn't need to be 0.1 might as well make it for free lol
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Offline freedom

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Market Orders are 0.1 BTS
Canceling Orders is 0.1 BTS
Transfer 0.1 BTS

i think  this is reasonable
+5%
20 BTS is too high.I don't want to use the system, it's too expensive.