Committee Proposal: Network Fee Adjustment 1.10.2657

[R]

We should have a dynamic fee mechanism where we state 'the fees will always be $0.01' (for example) and the settings are automatically adjusted for the exchange rate of BTS.
The majority of the DEX's income comes from registering assets/accounts and LTM, network transactions are a minority and BTS would probably benefit from them being made almost free.

[yvv]

Bitshares lacks a self-regulating mechanism which finds a balance between a fee, which user agrees to pay and a fee which witness agrees to accept.

[vegolino]

I think that we should postpone this vote until  the markets settle down.

[pc]

bts is falling like all crypto, proposal is obsolete in my opinion.

+1

[paliboy]

I completely agree with @sahkan and @fav... no reason to change fees at this time

[fav]

bts is falling like all crypto, proposal is obsolete in my opinion.

[sahkan]

I am AGAINST the lower fees.

Over last few days the crypto went up, now it's going down. And how often the centralised exchanges changed their fee structures? Almost NEVER, so let's compare:

Look at Polniex: https://poloniex.com/fees/

An entry level market maker is 0.15% so on a $2000 1 BTC trade you have to pay $3
DEX is 0.073 BTS that's $0.004

How is that not competitive?

And 8,708 BTS lifetime membership is a good incentive to create a referral network. There are a lot of clubs & professional organizations that charge more than that for an annual membership. So we either make a decision to run a professional exchange or give in to every cry baby that comes on the forum because he /she wants to spam the network with some freak asset for free or close to it.

I would only change the vesting_balance_withdraw[33] to 0, beacuse people should not pay to get their money out and it takes a very long time to accumulate 145 BTS in fees.

[sahkan]

What does "membership_annual_fee" affect?

Does this also lower witness pay?

I don't think it affects anything. No, it has nothing to do with the witness pay. Witness pay is under:

"witness_pay_per_block": 100000,

[fluxer555]

What does "membership_annual_fee" affect?

Does this also lower witness pay?

[abit]

The committee is voting on a fee adjustment proposal: https://cryptofresh.com/p/1.10.2657

All fees are proposed to be reduced by around 83%, or say around 6x -> 1x.

It's based on the idea of USD-Denominated fee schedule which was discussed in this thread: https://bitsharestalk.org/index.php?topic=21368.0