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There is a MUCH better way to reduce the pay of the witnesses and bring more value to Bitshares.Vote for more witnesses.The amount that goes out is based on 3BTS per blockThose blocks are distributed between the Active witnesses.The less active witnesses we have, the more they get paid.At present 2 very good long time witnesses are no longer active because the number of witnesses has been reduced from 21 to 19.What we should be doing is keeping the pay where it is at, and having 30+ Active witnesses instead.More feed data, more competition, more network resilience.. aaaaaaand... all for the SAME PRICE!How do we do this?Vote for more witnesses that deserve the vote. If we don't have them then go out and tell people about the opportunity. Invite new people who are will to show some BTS love and bring with them their own network to love BTS too.Squeezing and trying to punish existing Active witnesses isn't the answer. Bring new fresh ones and expanding our number from 19 to 30+ is.
Quote from: fav on April 25, 2017, 06:46:19 pmdevelop a way to peg fees to usd and a smartcontract that could check the peg every 24hours or so and amend the fees accordingly.I won't go through the hassle and re-allocate the fees every time there is a pump or dump.Why on chain? Could be done much easier. Just set witness pay in $ and announce it. Vote new fees based on that constant every new month 1st. This way you don't have to back to this discussion every market cap change. Is this much work?
develop a way to peg fees to usd and a smartcontract that could check the peg every 24hours or so and amend the fees accordingly.I won't go through the hassle and re-allocate the fees every time there is a pump or dump.
QuoteIf things were adjusted once a month that should be adequate IMO. Others may think quarterly is adequate.Is it possible to do this completely automated way, based on daily amount of fees which DEX collects? They don't deserve more than DEX collects, right?Also, do all witnesses really deserve same wage? They do different job, like produce different number of price feeds, etc, don't they deserve different wage in this case?
If things were adjusted once a month that should be adequate IMO. Others may think quarterly is adequate.
Quote from: nmywn on April 26, 2017, 10:56:23 amQuote from: fav on April 25, 2017, 06:46:19 pmdevelop a way to peg fees to usd and a smartcontract that could check the peg every 24hours or so and amend the fees accordingly.I won't go through the hassle and re-allocate the fees every time there is a pump or dump.Why on chain? Could be done much easier. Just set witness pay in $ and announce it. Vote new fees based on that constant every new month 1st. This way you don't have to back to this discussion every market cap change. Is this much work?sounds like a plan too!
Where's the option to vote them another raise?This poll is rigged!If you want to breathe some new life into BTS to drive up the competition to become a witness, like Henry Ford did by raising the wages of his slaves. If we really want some attention from the humans who we hope will join our little crypto club, then let's offer some incentive here. Is it just me or does nobody ever agree with me?
I won't go through the hassle and re-allocate the fees every time there is a pump or dump.
Quote from: JonnyBitcoin on April 20, 2017, 09:23:43 pmEach witness is getting paid $1200+ because of the price rise. They used to get 1.5 bts per block but this was doubled this year because the bitshares price was so low.Now the bitshares price has nearly tripled so has the witnesses pay and every witness is receiving $1200+ worth of BTS every month!A long term fix would be if an agreed $ payment could be paid to them in BTS each month. But that idea deserves its own post.I see absolutely no problem with this in the short term.Being a witness, and hanging on when times are troublesome should be awarded a little extra when times get better.I'm not a witness, but if I was one, that's exactly what I'd expect.Let them profit a little heavy for awhile... they've waited a while to have their cake. Let them munch on it for a bit.
Each witness is getting paid $1200+ because of the price rise. They used to get 1.5 bts per block but this was doubled this year because the bitshares price was so low.Now the bitshares price has nearly tripled so has the witnesses pay and every witness is receiving $1200+ worth of BTS every month!A long term fix would be if an agreed $ payment could be paid to them in BTS each month. But that idea deserves its own post.
Quote from: Akado on April 21, 2017, 10:54:30 amQuote from: yvv on April 20, 2017, 11:21:26 pmShould we raise this question again next week if BTS prise drops to what it was a month ago?Make it dynamic. We have USD feeds so use that to make the chain adapt and pay the equivalent of X USD worth of BTS. That way even if price changes witnesses will get roughly the same dollar value every month.Agree. We have a price feed, let's use it for good. What are those "smart" contracts worth if we can't use them to fix witness wages? The only obstacle I see here is witnesses collude and start manipulating the feed, because they all benefit from this.
Quote from: yvv on April 20, 2017, 11:21:26 pmShould we raise this question again next week if BTS prise drops to what it was a month ago?Make it dynamic. We have USD feeds so use that to make the chain adapt and pay the equivalent of X USD worth of BTS. That way even if price changes witnesses will get roughly the same dollar value every month.
Should we raise this question again next week if BTS prise drops to what it was a month ago?
This strall poll seems pretty conclusive. When will the committee act to reduce witness pay?@xeroc @bitcrab @Chris4210 @fav @BunkerChain Labs @abit @clayop @ebit @Bhuz @Harvey
Quote from: iHashFury on April 22, 2017, 03:54:58 pmQuote from: svk on April 22, 2017, 12:18:30 pmQuote from: nmywn on April 21, 2017, 06:18:25 amPlease, invest in badass api nodes, raise the standarts. There is not much to choose from and it is super frustrating seeing init error.Witnesses do not provide api nodes. They could of course do so as an additional service to justify their current high pay, but it's not part of the job description.I have been providing an api node ( wss://altcap.io/ws ) and web wallet ( altcap.io ) for some considerable time. I appreciate it, wish more witnesses did
Quote from: svk on April 22, 2017, 12:18:30 pmQuote from: nmywn on April 21, 2017, 06:18:25 amPlease, invest in badass api nodes, raise the standarts. There is not much to choose from and it is super frustrating seeing init error.Witnesses do not provide api nodes. They could of course do so as an additional service to justify their current high pay, but it's not part of the job description.I have been providing an api node ( wss://altcap.io/ws ) and web wallet ( altcap.io ) for some considerable time.
Quote from: nmywn on April 21, 2017, 06:18:25 amPlease, invest in badass api nodes, raise the standarts. There is not much to choose from and it is super frustrating seeing init error.Witnesses do not provide api nodes. They could of course do so as an additional service to justify their current high pay, but it's not part of the job description.
Please, invest in badass api nodes, raise the standarts. There is not much to choose from and it is super frustrating seeing init error.
@ripplexiaoshan What in case of USD black swan?
If I had a chance, I will redesign the fee system.1. change all fee asset from BTS to FEESUSD which belong to committee. all fees will priced on this FEESUSD. committee only need to sell FEESUSD for bitUSD to increase the supply .2. all witness and worker will get payment in FEESUSD. if you don't have faith in Bitshares, or if Bitshares can't get enough users, the FEESUSD is rubbish, in the other hand, the FEESUSD is exactly 1 USD's worth.3. no new BTS need create. committee can use bitUSD to buyback BTS and burn it to give back profit to all BTS holders.
Quote from: alt on April 20, 2017, 11:35:39 pmIf I had a chance, I will redesign the fee system.1. change all fee asset from BTS to FEESUSD which belong to committee. all fees will priced on this FEESUSD. committee only need to sell FEESUSD for bitUSD to increase the supply .2. all witness and worker will get payment in FEESUSD. if you don't have faith in Bitshares, or if Bitshares can't get enough users, the FEESUSD is rubbish, in the other hand, the FEESUSD is exactly 1 USD's worth.3. no new BTS need create. committee can use bitUSD to buyback BTS andT burn it to give back profit to all BTS holders. Who would work for a worthless UIA with no collateral or leverage value?
If I had a chance, I will redesign the fee system.1. change all fee asset from BTS to FEESUSD which belong to committee. all fees will priced on this FEESUSD. committee only need to sell FEESUSD for bitUSD to increase the supply .2. all witness and worker will get payment in FEESUSD. if you don't have faith in Bitshares, or if Bitshares can't get enough users, the FEESUSD is rubbish, in the other hand, the FEESUSD is exactly 1 USD's worth.3. no new BTS need create. committee can use bitUSD to buyback BTS andT burn it to give back profit to all BTS holders.
Quote from: JonnyBitcoin on April 20, 2017, 09:39:40 pmQuote from: abit on April 20, 2017, 09:31:06 pmLet's vote in more witnesses.You are are a witness so are bias. You are also a committee member which has me thinking if too many witnesses are committee members there will be a considerable conflict of interest when it comes to witness pay. hmmmmmmmI was talking as a stake holder. "Let's vote".
Quote from: abit on April 20, 2017, 09:31:06 pmLet's vote in more witnesses.You are are a witness so are bias. You are also a committee member which has me thinking if too many witnesses are committee members there will be a considerable conflict of interest when it comes to witness pay. hmmmmmmm
Let's vote in more witnesses.