Bitasset volume targets

[starspirit]

Yep. Starspirit you are right, BTS will need other income sources. There are ideas in the pipeline, but they all depend on winning the bitasset network effect first.

Thanks toast, that is true. It would be fruitful to elaborate on some of these ideas as we grow though, if we want to keep demonstrating the potential value sources BTS holders might look forward to. Because if BTS stagnates, shorts eventually run out of collateral to create new supplies of bitAssets. And we know nothing ever stands still for long - it grows or it withers.

[toast]

Yep. Starspirit you are right, BTS will need other income sources. There are ideas in the pipeline, but they all depend on winning the bitasset network effect first.

[starspirit]

What kind of volume do we need on bitassets for burnt fees to become a significant deflationary force?  I had a look on the wiki and couldn't find what the actual fee rate is per transaction.  Are fees 100% burned all the time now (I forgot...)?

How much in fees would $1m daily volume in bitUSD generate?

It isn't the size of the orders, but the number of orders that matters as well as the "overlap" in orders.

Overlap is paid as yield on BitAssets.  So only orders that deal in BTS count. 

I would look at it as TRX per SECOND on a global level.   If we get to 2 TRX per second then that is 1 BTS per second or about $100K per day in transaction fees which would more than offset any dilution.

That would be equivalent to USD $36,500,000 in fees per annum. At today's market cap, that's not possible, because it would require bitAsset pools over a billion dollars for that level of annual fee leakage to be acceptable. At an enormous market cap facilitating much larger bitAsset pools it could be possible, but then the dilution would be many multiples higher also.

[BTSdac]

is there any mechanism to vote reduce translation fee as a soft-fork .
I mean if the price of BTS is up to 10$, 0.1BTS translation fee is a lot expensive .

[okidoki]

100,000 USD per day?? I think this would be more like 100,000 BTS per day or 1700 USD.... (1 BTS * 3600 * 24)

[bytemaster]

What kind of volume do we need on bitassets for burnt fees to become a significant deflationary force?  I had a look on the wiki and couldn't find what the actual fee rate is per transaction.  Are fees 100% burned all the time now (I forgot...)?

How much in fees would $1m daily volume in bitUSD generate?

It isn't the size of the orders, but the number of orders that matters as well as the "overlap" in orders.

Overlap is paid as yield on BitAssets.  So only orders that deal in BTS count. 

I would look at it as TRX per SECOND on a global level.   If we get to 2 TRX per second then that is 1 BTS per second or about $100K per day in transaction fees which would more than offset any dilution.

[matt608]

What kind of volume do we need on bitassets for burnt fees to become a significant deflationary force?  I had a look on the wiki and couldn't find what the actual fee rate is per transaction.  Are fees 100% burned all the time now (I forgot...)?

How much in fees would $1m daily volume in bitUSD generate?