Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: food for thought - raising fees  (Read 821 times)

0 Members and 1 Guest are viewing this topic.

Offline bitmarket

  • Sr. Member
  • ****
  • Posts: 362
    • View Profile
    • BitShares TV
food for thought - raising fees
« on: March 31, 2015, 02:50:05 AM »

I am not actually advocating what I am about to suggest here.  If you have ever been involved in brainstorming activities  you know sometimes its good to just say dumbshit and see what happens.  This is that dumbshit.

Also this is in no way desperate... I am a marketer and this is what I think about all day every day for lots of different business. How to be more effective at marketing. Bitshares will be a billion dollar valuation soon enough, but how do we make it sooner?

The vast majority of businesses dedicate over 30% of their revenues to customer acquisition and marketing... When pricing a product this is thought of in advance. When banks set interest rates and fees they leave fat in their to make it attractive enough to for mortgage brokers to make a career out of selling them.

When big pharma prices drugs they leave enough fat in their for sales people to get stupendously wealthy pushing their poison.  Same goes for recreational variety.

From girl scout cookies to vacuum cleaners the majority of products are priced with a marketing budget in mind. Done correctly an army of sales people are out their selling them.

A vacuum cleaner that costs $20 to produce would retail for $39.99.  We have priced our product at the cost of production.

Perhaps bitshares could increase its fees, use the referal method discussed elsewhere and operate that way?

edit: Not that I can enforce this, but in brainstorming its often best to give even the dumbest ideas 15 minutes of assuming it could work... And if it did how could it.  So perhaps if you agree lets leave the first  page or two for positive comments before the negatives come.  If this were a good idea... why would it be a good idea?
« Last Edit: March 31, 2015, 03:00:27 AM by bitmarket »
Host of BitShares.TV and Author of BitShares 101

Offline Globally Distributed

  • Full Member
  • ***
  • Posts: 54
    • View Profile
Re: food for thought - raising fees
« Reply #1 on: March 31, 2015, 02:55:05 AM »
Absolutely into this. +5%
"People don't buy what you do, they buy why you do it."  https://www.youtube.com/watch?v=u4ZoJKF_VuA

kudos robrigo

Offline onceuponatime

Re: food for thought - raising fees
« Reply #2 on: March 31, 2015, 03:03:00 AM »
I'd say that we could easily raise fees to the equivalent of 2 or 3 cents per transaction from the current less than one cent.

And there would probably not be all that much blowback from the peanut gallery if it all went in to referral rewards.

Offline Globally Distributed

  • Full Member
  • ***
  • Posts: 54
    • View Profile
Re: food for thought - raising fees
« Reply #3 on: March 31, 2015, 03:06:38 AM »
This is the most powerful concept we have and we have only just started talking about it.  Fees + Referrals = Paid Blockchain Marketing

"People don't buy what you do, they buy why you do it."  https://www.youtube.com/watch?v=u4ZoJKF_VuA

kudos robrigo

Offline Troglodactyl

  • Hero Member
  • *****
  • Posts: 936
    • View Profile
Re: food for thought - raising fees
« Reply #4 on: March 31, 2015, 03:19:02 AM »
There's a win win here.  Instead of increasing fees at the protocol level by increasing the minimum relay fee or block inclusion fee, you can raise default fees in whichever wallet you wish to market, and send them wherever you want.  The web wallet already charges non-network usage fees per transaction to pay for development, and modprobe's light wallet is also already designed so that anyone can run a light server, and charge additional transaction fees to the users who use that server.  With slight modification, any light wallet should be able to send transaction fees to the address that payed for its account registration, or to the first account they received from, or whatever other method is chosen to designate a referrer account.

Protocol level changes are less flexible and more controversial, and should be avoided whenever a solution exists at the application level.

Offline yellowecho

Re: food for thought - raising fees
« Reply #5 on: March 31, 2015, 03:38:04 AM »
I think we should be cautious here.  We don't need to do anything that would scare our shareholders or disrupt already low volumes on the internal exchange.
696c6f766562726f776e696573

Offline Troglodactyl

  • Hero Member
  • *****
  • Posts: 936
    • View Profile
Re: food for thought - raising fees
« Reply #6 on: March 31, 2015, 03:52:29 AM »
I think we should be cautious here.  We don't need to do anything that would scare our shareholders or disrupt already low volumes on the internal exchange.

Indeed.  Another advantage of using the application level approach is that it can be entirely independent.  It requires no core developer support and no delegate support, but can still fund a referral system.

Offline luckybit

Re: food for thought - raising fees
« Reply #7 on: March 31, 2015, 04:31:18 AM »
I'd say that we could easily raise fees to the equivalent of 2 or 3 cents per transaction from the current less than one cent.

And there would probably not be all that much blowback from the peanut gallery if it all went in to referral rewards.

I think raising fees is fine at this time. It's not like there is a competition to lower fees right now anyway. The competition to lower fees happens later once different competitors are mature.

Right now the competition is to get users and the potential growth is huge before fees become an issue. We could have a million users before fees become a big deal.

Just so long as it's a better deal than traditional banks.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline yellowecho

Re: food for thought - raising fees
« Reply #8 on: March 31, 2015, 04:41:21 AM »
I'd say that we could easily raise fees to the equivalent of 2 or 3 cents per transaction from the current less than one cent.

And there would probably not be all that much blowback from the peanut gallery if it all went in to referral rewards.

I think raising fees is fine at this time. It's not like there is a competition to lower fees right now anyway. The competition to lower fees happens later once different competitors are mature.

Right now the competition is to get users and the potential growth is huge before fees become an issue. We could have a million users before fees become a big deal.

Just so long as it's a better deal than traditional banks.

That's true.. but it also ostracizes traders to a degree which is arguably where most volume comes at the moment.
696c6f766562726f776e696573

Offline onceuponatime

Re: food for thought - raising fees
« Reply #9 on: March 31, 2015, 04:50:48 AM »
I'd say that we could easily raise fees to the equivalent of 2 or 3 cents per transaction from the current less than one cent.

And there would probably not be all that much blowback from the peanut gallery if it all went in to referral rewards.

A two or three cent trade should not be a deterrent.

I think raising fees is fine at this time. It's not like there is a competition to lower fees right now anyway. The competition to lower fees happens later once different competitors are mature.

Right now the competition is to get users and the potential growth is huge before fees become an issue. We could have a million users before fees become a big deal.

Just so long as it's a better deal than traditional banks.

That's true.. but it also ostracizes traders to a degree which is arguably where most volume comes at the moment.

A two or three cent trade should not be a deterrent.
« Last Edit: March 31, 2015, 04:54:32 AM by onceuponatime »

Offline Shentist

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 1605
    • View Profile
    • metaexchange
  • BTS: shentist
Re: food for thought - raising fees
« Reply #10 on: March 31, 2015, 05:15:56 AM »
raising fees is not a good idea!

we have already a payment system in place, so the needed funds for a referral program should be coming from delegates. Maybe we can "transfer" 10% of the delegate income to referal programs.

Offline pc

  • Hero Member
  • *****
  • Posts: 1013
    • View Profile
    • Bitcoin - Perspektive oder Risiko?
  • BTS: cyrano
  • Witness: cyrano
  • Payrate: 100%
Re: food for thought - raising fees
« Reply #11 on: March 31, 2015, 07:34:30 AM »
I think we should be cautious here.  We don't need to do anything that would scare our shareholders or disrupt already low volumes on the internal exchange.

A good point. Do we have numbers on revenue from fees as opposed to revenue from you-get-what-you-asked-for trading?
Please vote for my BitShares witness "cyrano" and for my STEEM witness "cyrano.witness"!
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline cass

  • Hero Member
  • *****
  • Posts: 4324
  • /(┬.┬)\
    • View Profile
Re: food for thought - raising fees
« Reply #12 on: March 31, 2015, 08:29:19 AM »
raising fees is not a good idea!

we have already a payment system in place, so the needed funds for a referral program should be coming from delegates. Maybe we can "transfer" 10% of the delegate income to referal programs.

 +5%
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Offline triox

Re: food for thought - raising fees
« Reply #13 on: March 31, 2015, 09:11:13 AM »
Fees need to rise to make the referral program worthwhile for big marketers. 1.5 grand from a lifetime referral vs. $500 can make all the difference.

Offline Ben Mason

  • Hero Member
  • *****
  • Posts: 1063
  • Integrity & Innovation, powered by Bitshares
    • View Profile
  • BTS: benjojo
Re: food for thought - raising fees
« Reply #14 on: March 31, 2015, 11:06:34 AM »
I agree, raising the fees to help pay for referral at this time is a great idea....

 

Google+