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Offline bytemaster

« Last Edit: December 29, 2014, 10:26:47 PM by cass »
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Online Shentist

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Re: BtiShares Fee Schedule Explained
« Reply #1 on: December 29, 2014, 09:51:01 PM »

Offline Rune

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Re: BtiShares Fee Schedule Explained
« Reply #2 on: December 29, 2014, 09:58:03 PM »
AKA why the price of BTS is going to the moon!

Offline mdj

Re: BitShares Fee Schedule Explained
« Reply #3 on: December 30, 2014, 12:06:36 AM »
Very nice explanation

Offline heyD

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Re: BitShares Fee Schedule Explained
« Reply #4 on: December 30, 2014, 01:07:12 AM »
Quote
Where Fees Go

All fees paid in BTS are accumulated into a fund that is gradually paid out to all delegates over two weeks. When a delegate produces a block they are entitled to a percentage of the fund which is then adjusted by their delegate pay rate. A delegate with 100% pay will receive the full amount, where as a delegate with 0% will burn the full amount they are entitled to. When BTS is burned this is similar to returning the value to the shareholders. We can therefore summarize it as all BTS fees are paid to delegates or returned to shareholders.

Maybe I have missed something here. Are the bold words still in effect? In my memory the delegates are paid with the inflated BTS, rather than the collected fees.


Offline Rune

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Re: BitShares Fee Schedule Explained
« Reply #5 on: December 30, 2014, 01:55:16 AM »
Quote
Where Fees Go

All fees paid in BTS are accumulated into a fund that is gradually paid out to all delegates over two weeks. When a delegate produces a block they are entitled to a percentage of the fund which is then adjusted by their delegate pay rate. A delegate with 100% pay will receive the full amount, where as a delegate with 0% will burn the full amount they are entitled to. When BTS is burned this is similar to returning the value to the shareholders. We can therefore summarize it as all BTS fees are paid to delegates or returned to shareholders.

Maybe I have missed something here. Are the bold words still in effect? In my memory the delegates are paid with the inflated BTS, rather than the collected fees.

They are paid with both. This ensures that the reward schedule will never have to be changed again.

Offline eagleeye

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Re: BitShares Fee Schedule Explained
« Reply #6 on: December 30, 2014, 02:48:45 AM »

Offline bytemaster

Re: BitShares Fee Schedule Explained
« Reply #7 on: December 30, 2014, 03:21:03 AM »
On its way
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Offline theoretical

Re: BitShares Fee Schedule Explained
« Reply #8 on: December 30, 2014, 05:03:40 PM »
The article says delegates receive transaction fees over two weeks.

As clarification, this is not what happens in the current code.  Currently all transaction fees are burned.

However, we did distribute transaction fees to delegates in past versions, and we currently plan to re-enable this functionality at the 1.0 hardfork.

Since the block rewards issued to delegates will decrease over time, giving them transaction fees is necessary to future proof the network.
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Offline svk

Re: BitShares Fee Schedule Explained
« Reply #9 on: December 30, 2014, 05:20:19 PM »
The article says delegates receive transaction fees over two weeks.

As clarification, this is not what happens in the current code.  Currently all transaction fees are burned.

However, we did distribute transaction fees to delegates in past versions, and we currently plan to re-enable this functionality at the 1.0 hardfork.

Since the block rewards issued to delegates will decrease over time, giving them transaction fees is necessary to future proof the network.

I still think this should be implemented inversely to the halving of the block rewards, meaning the amount of fees paid out to delegate should increase whenever a halving of the block reward happens. Fees going to delegates in addition to the current rate of dilution pay isn't really necessary.
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Offline ripplexiaoshan

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Re: BitShares Fee Schedule Explained
« Reply #10 on: December 30, 2014, 09:36:33 PM »
The article says delegates receive transaction fees over two weeks.

As clarification, this is not what happens in the current code.  Currently all transaction fees are burned.

However, we did distribute transaction fees to delegates in past versions, and we currently plan to re-enable this functionality at the 1.0 hardfork.

Since the block rewards issued to delegates will decrease over time, giving them transaction fees is necessary to future proof the network.

Good to know, hope this rule will never change again...
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Offline toast

Re: BitShares Fee Schedule Explained
« Reply #11 on: December 30, 2014, 09:40:57 PM »
The article says delegates receive transaction fees over two weeks.

As clarification, this is not what happens in the current code.  Currently all transaction fees are burned.

However, we did distribute transaction fees to delegates in past versions, and we currently plan to re-enable this functionality at the 1.0 hardfork.

Since the block rewards issued to delegates will decrease over time, giving them transaction fees is necessary to future proof the network.

0.4.28, not 1.0
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