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merockstar

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question: plus five percent?
« on: July 01, 2014, 03:47:40 PM »

 +5%

is that still happening? the derivatives model was given up on right?

so that leaves the transaction fees that get destroyed-- but... delegates are going to be able to set that for themselves, no?

so it might actually be + 1%, or +10%?

am I missing a piece of the puzzle?


how do you calculate bitAsset fees so that the transactions fees works out to  +5% for everybody else?
« Last Edit: July 01, 2014, 03:58:55 PM by merockstar »

Offline mitao

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Re: question: plus five percent?
« Reply #1 on: July 01, 2014, 03:53:50 PM »
5% is for bitasset


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merockstar

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Re: question: plus five percent?
« Reply #2 on: July 01, 2014, 03:54:38 PM »
5% is for bitasset


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but where does it come from?

actually, thinking this through, if bitAssets don't have delegates, but have transaction fees, that makes a lot of sense.

will the fees be set at 5%?
« Last Edit: July 01, 2014, 03:57:30 PM by merockstar »

Offline mitao

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Re: question: plus five percent?
« Reply #3 on: July 01, 2014, 03:59:47 PM »
The shorting party who issues bitasset is paying the shorting interest.


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merockstar

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Re: question: plus five percent?
« Reply #4 on: July 01, 2014, 04:04:01 PM »
The shorting party who issues bitasset is paying the shorting interest.


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that makes even more sense. thanks for helping me clear this up in my mind.

one more question: will bitUSD blocks be confirmed by the same delegates as bitshares?

edit, wait a second: the collateral that gets put up by the shorting party is in bitshares, not bitAsset

so destroying bitshares drives up the price of bitshares...

i guess i need somebody to spell this out for me like I'm a tard (not far from the truth)
« Last Edit: July 01, 2014, 04:19:13 PM by merockstar »

Offline toast

Re: question: plus five percent?
« Reply #5 on: July 01, 2014, 05:10:26 PM »
The  +5% is a proposed feature which might be implemented on a a future BTS X chain. In such a chain, the holder of BitUSD earns interest paid out of the short position's collateral. The short is paying 5% on the value of their bitshares which the system uses to buy bitUSD and give it to the long position.

All the various assets live on a chain together, BitUSD moves around just like the user-issued assets on the real chains.
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merockstar

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Re: question: plus five percent?
« Reply #6 on: July 01, 2014, 05:20:31 PM »
The  +5% is a proposed feature which might be implemented on a a future BTS X chain. In such a chain, the holder of BitUSD earns interest paid out of the short position's collateral. The short is paying 5% on the value of their bitshares which the system uses to buy bitUSD and give it to the long position.

All the various assets live on a chain together, BitUSD moves around just like the user-issued assets on the real chains.

now it's clear! thanks toast

 

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