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Offline Simeon II

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"asset_reg_fee": "151,295.55840 BTSX",
« on: July 20, 2014, 04:20:47 PM »

Why?

Offline bitmeat

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Re: "asset_reg_fee": "151,295.55840 BTSX",
« Reply #1 on: July 20, 2014, 07:24:59 PM »
Does it like double every time you register a new one?

Also - I'm curious - where do the fees for registering go? I don't see them in the income or daily burn... Shouldn't they be just a burn, so that registering assets automatically increases the value of BTSX?

Offline bytemaster

Re: "asset_reg_fee": "151,295.55840 BTSX",
« Reply #2 on: July 20, 2014, 07:28:50 PM »
The cost to register an asset is proportional to 2 weeks of network transaction fees.  Very expensive and intentionally so.  Because of the way it is calculated, you can expect it to double when a new asset is registered and then slowly fall over 2 weeks. 

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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Re: "asset_reg_fee": "151,295.55840 BTSX",
« Reply #3 on: July 20, 2014, 07:29:58 PM »
We wanted BTSX to be reserved for SERIOUS assets, ie: assets where 2 weeks of transaction fees is worth while. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bitmeat

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Re: "asset_reg_fee": "151,295.55840 BTSX",
« Reply #4 on: July 20, 2014, 07:30:20 PM »
And where do the fees for creating assets and users go? To the delegates? Burn?

Offline bytemaster

Re: "asset_reg_fee": "151,295.55840 BTSX",
« Reply #5 on: July 20, 2014, 07:31:05 PM »
You can view the accumulated transaction fees via the get_info call in the CLI... these are slowly paid to the delegates over 2 weeks. 

Code: [Select]
"blockchain_accumulated_fees": "150,446.30993 BTSX",
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.


Offline Simeon II

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Re: "asset_reg_fee": "151,295.55840 BTSX",
« Reply #7 on: July 20, 2014, 07:47:17 PM »
You can view the accumulated transaction fees via the get_info call in the CLI... these are slowly paid to the delegates over 2 weeks. 

Code: [Select]
"blockchain_accumulated_fees": "150,446.30993 BTSX",

I see.

The idea of shareholders owning the DAC has turned into the board of directors owning the company…
How typical and how fast the crypto world follows the same path as the meat world.



Offline bytemaster

Re: "asset_reg_fee": "151,295.55840 BTSX",
« Reply #8 on: July 20, 2014, 07:59:59 PM »
You can view the accumulated transaction fees via the get_info call in the CLI... these are slowly paid to the delegates over 2 weeks. 

Code: [Select]
"blockchain_accumulated_fees": "150,446.30993 BTSX",

I see.

The idea of shareholders owning the DAC has turned into the board of directors owning the company…
How typical and how fast the crypto world follows the same path as the meat world.

Except shareholders pick the delegates and the delegates can have hard-coded destruction of funds...
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Simeon II

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Re: "asset_reg_fee": "151,295.55840 BTSX",
« Reply #9 on: July 20, 2014, 08:09:23 PM »
You can view the accumulated transaction fees via the get_info call in the CLI... these are slowly paid to the delegates over 2 weeks. 

Code: [Select]
"blockchain_accumulated_fees": "150,446.30993 BTSX",


Sure thing... I see CEOs burning money on the way home every day
I see.

The idea of shareholders owning the DAC has turned into the board of directors owning the company…
How typical and how fast the crypto world follows the same path as the meat world.

Except shareholders pick the delegates and the delegates can have hard-coded destruction of funds...

Sure thing... I see CEOs burning their money, on the way home, every day.

Offline changematey

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Re: "asset_reg_fee": "151,295.55840 BTSX",
« Reply #10 on: July 20, 2014, 08:28:54 PM »
You can view the accumulated transaction fees via the get_info call in the CLI... these are slowly paid to the delegates over 2 weeks. 

Code: [Select]
"blockchain_accumulated_fees": "150,446.30993 BTSX",
I am just wondering wouldn't this make holding on to your BTS more valuable (coupled with the fees being destroyed by delegates).

 

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