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General Discussion / Re: Lets bring " earn x% interest on 'anything' " back to Bitshares!
« on: April 11, 2017, 01:29:33 pm »Benefits over transaction fee distribution:We already produce revenue from market activity via transaction fees without the need for additional market fees.
1. Market Fees produce bitAsset of choice -- no need to convert BTS to bitAsset for dividend payment.
2. Does not violate LTM agreement
3. Does not mess with referral expectations
"Your share in the Decentralized Exchange"
Producing revenue from market activity is a natural income source for an exchange. Sharing it with Bitshares users makes sense to me.
I've numbered your points for easier referencing:
1. You can pay transaction fees in assets other than BTS, so we can already immediately distribute bitUSD to bitUSD holders instead of converting it from bitUSD -> BTS prior to redistribution. Unless this is an automated process right now? The committee in charge of the fees assigned to the reserve pool could provide additional information here.
2. The agreement was that the membership you purchased was to exist for a lifetime, not that the benefits were permanent for the lifetime of your account. These benefits should be subject to change, given sufficient network consensus.
3. The referral system being allocated 80% of transaction fees was unfair to begin with, there was an expected replacement income stream for asset holders in the form of a bond market which never materialized. It's time for asset holders to have a slice of the pie allocated to them. Referrals don't keep users around, dividends do.
Thank you for the thoughtful reply.
In regards to #1 response:
Yes, that is theoretically true. But the number of transactions which are paid in bitAssets is very small. Which means it is not terribly useful source of revenue for a bitAsset dividend.