BitShares Forum

Main => General Discussion => Topic started by: Simeon II on July 20, 2014, 04:20:47 pm

Title: "asset_reg_fee": "151,295.55840 BTSX",
Post by: Simeon II on July 20, 2014, 04:20:47 pm
Why?
Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: bitmeat 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?
Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: bytemaster 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. 

Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: bytemaster 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. 
Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: bitmeat on July 20, 2014, 07:30:20 pm
And where do the fees for creating assets and users go? To the delegates? Burn?
Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: bytemaster 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",
Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: AdamBLevine on July 20, 2014, 07:32:46 pm
I guess 2300 BTSx was a good price for LTBc ;)
Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: Simeon II 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.


Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: bytemaster 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...
Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: Simeon II 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.
Title: Re: "asset_reg_fee": "151,295.55840 BTSX",
Post by: changematey 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).