How to build a decentralized application without fees [BLOG POST]

[gamey]

So do small balances have to wait or not ?  Either way seems to open up attacks. If you let them go immediately in front of line without some sort of value that accumulates the equity * time ... then you can attack the network/nodes by creating a ton of small accounts. Even guys with .1% of the network seem like they could do a number on the system just by creating a ton of small addresses... then at some point those small addresses can remerge their account balances because fees are 0. I get it that it doesn't make economic sense to buy shares to attack, but it could in some other context.

Basically fees keep dust based/bloat attacks at bay.  0 fee opens that back up.

If there is something in the paper that addresses this, my apologies. Is this problem covered because one is forced to register an account before receiving a transfer?

[Erlich Bachman]

duh

https://www.youtube.com/watch?v=rMV-fenGP1g#t=3m1s
(what are you waiting for?)

(someone to fork BitShares and implement this algo?)

[bytemaster]

I love the idea of rate limited transfers.  I think it could be truly revolutionary. 

If LTM had a higher rate of earning the ability to transact in addition to 80% back on the remaining flat fees such as asset creation, or name registration. then I think LTM would still be very attractive.  As long as LTM is attractive I think the referral program will be attractive.

Please please please include the ability for users to pay a fee to transact above and beyond what their balance would allow.  Nothing is more annoying than being willing to pay for a service, but not being able to.  Imagine how much users will be turned off they are 2 transactions into a 3 transaction deal, and the rate limiting kicks in and now all of a sudden they are unable to complete their transaction.  It just needs to be very clear, what fee you are paying, and how long you can expect to wait before you can transact without a fee.

LTM can give users a larger "burst window" by averaging their bandwidth over a month rather than a week.
Alternatively, LTM can be allocated X% of capacity and regular users can be allocated Y%.

In other words LTM is like the HOV lanes, there is less traffic so you can move faster.

[puppies]

I love the idea of rate limited transfers.  I think it could be truly revolutionary. 

If LTM had a higher rate of earning the ability to transact in addition to 80% back on the remaining flat fees such as asset creation, or name registration. then I think LTM would still be very attractive.  As long as LTM is attractive I think the referral program will be attractive.

Please please please include the ability for users to pay a fee to transact above and beyond what their balance would allow.  Nothing is more annoying than being willing to pay for a service, but not being able to.  Imagine how much users will be turned off they are 2 transactions into a 3 transaction deal, and the rate limiting kicks in and now all of a sudden they are unable to complete their transaction.  It just needs to be very clear, what fee you are paying, and how long you can expect to wait before you can transact without a fee.

[Erlich Bachman]

No, I don't think that you will be "trading" for free.  Those are the fees that pay the bills.  But you will be able to transfer the money into your wallet for free, and maybe get some cheap trades before the price goes up (as you consume more bandwidth from you new 24/7 FOREX/COMEX trading addiction). 

The more you trade, the more expensive it gets for you, and the more money our miners make.

The traders who get hooked on the gambling bug pay our network costs.

And after all, what is it that we are trying to "sell" here?

Our DEX man

bravo BM

This is basically a gimmick that we can use to trump bitcoin (and every other bitcoin1.0 featureless coin) only because we have "trading fees" and "account name creation fees" etc in addition to our normal "transfer" fees.

Dig?

So who wants to Trump the competition?:

https://www.youtube.com/watch?v=Ndv1_c48JoM#t=1m6s
(yes a stupid question, but I won't quote ya, cuz I'm not Geraldo, Phil or Oprah)

[abit]

Just one thing, you built the referral program, don't try to kill it.

this will give us a possibility to set each fee according to attractiveness to the user, not attractiveness to abuser of the network. Personally I think I would be good for bitshares to lower basic fees to 0 (transactions, all staff related to exchange), but leave or maybe even increase some fees for creating a LTM/AM, creating new assets, end so on. So far according to my knowledge profits from selling LTM are much grater than from regular transaction fees.

If I can transfer and trade for free, why the hell I need LTM?

[Ben Mason]

BM, this is incredible. Game changer. Very well done.

[noisy]

Just one thing, you built the referral program, don't try to kill it.

this will give us a possibility to set each fee according to attractiveness to the user, not attractiveness to abuser of the network. Personally I think I would be good for bitshares to lower basic fees to 0 (transactions, all staff related to exchange), but leave or maybe even increase some fees for creating a LTM/AM, creating new assets, end so on. So far according to my knowledge profits from selling LTM are much grater than from regular transaction fees.

[bytemaster]

Once again, BM gives away his first mover advantage

while the world beats a path to someone else's door

It is a balancing act between openness and stealth.  I this case, I think we could implement this in BTS faster than anyone else could implement in their protocol.

[bytemaster]

Just one thing, you built the referral program, don't try to kill it.

I'm not trying to kill it. Just give BTS more flexibility in how to use it.

[abit]

Just one thing, you built the referral program, don't try to kill it.

[bitacer]

http://bytemaster.github.io/article/2016/02/10/How-to-build-a-decentralized-application-without-fees/

Bytemaster, did you check bartercard. Would that be something achieved with a DAC ?

https://bitsharestalk.org/index.php/topic,21372.msg277917.html#msg277917

[bytemaster]

http://bytemaster.github.io/article/2016/02/10/How-to-build-a-decentralized-application-without-fees/