Quote from: puppies on February 10, 2016, 04:31:27 pm

I love the idea of rate limited transfers.  I think it could be truly revolutionary. 

If LTM had a higher rate of earning the ability to transact in addition to 80% back on the remaining flat fees such as asset creation, or name registration. then I think LTM would still be very attractive.  As long as LTM is attractive I think the referral program will be attractive.

Please please please include the ability for users to pay a fee to transact above and beyond what their balance would allow.  Nothing is more annoying than being willing to pay for a service, but not being able to.  Imagine how much users will be turned off they are 2 transactions into a 3 transaction deal, and the rate limiting kicks in and now all of a sudden they are unable to complete their transaction.  It just needs to be very clear, what fee you are paying, and how long you can expect to wait before you can transact without a fee.

LTM can give users a larger "burst window" by averaging their bandwidth over a month rather than a week.
Alternatively, LTM can be allocated X% of capacity and regular users can be allocated Y%.

In other words LTM is like the HOV lanes, there is less traffic so you can move faster.

I've removed my support for most of the committee members (except abit and dele-puppy) as I've concluded the current committee is not doing its job properly.

Also, I've removed my support for @mindphlux as he has committed a fraud and then another dishonesty when he lied about it. 
I've suggested to him the  possibility of donating the ill-earned money to a charity of his choice but he did not take the offer, so for me this matter is closed.

I no longer believe logical thinking prevails in this community and I have the impression that bad decisions regarding the referral program are being made, so I'll be much less active here from now on.
I would be willing to defend logic here, provided logical thinking is valued. Sadly, for me BitShares is drifting away from logic.

If you wish to remove your votes from this proxy, this is a good time to do so.

The trading fee's portion of this proposal is terrible.

Percentage based fees or commissions are non existent in current trading.  Doing large orders is already a disadvantage, because much of the order book has to be chewed through to fill the order.  So the effective spread that the trader is experiencing is larger than what may be quoted.  Add on top of that a tax for doing a large order and I guarantee you we will attract 0 traders.

Also, by not having the trading fee's part of the referral program or making them so low that they add 0 value, any third party platform like mt4 will never be implemented.  There is no way to get the development money back from everything I can tell.  Much less have any money left over to do maintenance on the system.  The only way it may work would be by manipulating the spread in the client terminal wide enough that mt4 can turn a profit.  This effectively screws the trader twice though.

I don't understand why people here think we need to emulate current crypto exchanges.  Crypto exchanges are tiny and professional (bank, hedgefund) traders would never trade on those platforms.  The most popular platforms use a flat fee or commission.  This proposal is going to set bitshares back massively in terms of adoption by traders.

Attracting traders should be the priority of bitshares.  It will shrink spreads, increase volume, and make money for the blockchain.  Doing a percentage based fee will only drive them away.  You are effectively driving away liquidity by charging more money to trade larger orders.  Plus it doesn't cost anymore resource wise to process large trades vs small trades.

By making basic transfers free, It makes the benefits of LTM/AM a lot simpler and clearer. Reducing and/or eliminated certain for membership is easy for users to understand.  With the combination of percentage based fees the network could make a lot more.

Quote from: BunkerChain Labs on January 22, 2016, 02:25:24 pm

If I don't see any movement on this in the coming month I promise you we will head this up and be the lead to ensure that we can be available on the Azure BaaS.

At present we are tied up with other things atm and this would require a great deal of attention money and time to execute.

I think it will be worth the effort though.

@BunkerChain Labs Will you really look into this?

For perspective:

If the network were to take 0 fees on everything.
With 1,000,000,000 in reserves, you can safely pay witnesses for 130 years. ($100 per 21 witnesses per month)

$30,000 per year to pay all witnesses. $75 a day.

After 130 years, can BitShares bring in $75 a day? or will we have to dilute? (:

BitShares itself can be seen as a giant FBA, even with 0 fee.  You can buy the token(BTS). Develop your upgrade/smart contract/feature and get paid from the market interest(market-cap) in the platform because of your, or any other, feature.  It becomes even more attractive when your specific feature can also be an FBA and you more directly benefit from its use.

We are all incentivised to build our feature on BitShares because of the market increase. 
We are all further insentivised to charge a fee for our feature that the market will bare and reward us for our effort.

Taxing over-rate-limit use and special or limited-supply core features(SmartCoin creation, Short names, etc) could be enough to cover everything.(after 135 years)

Remarkably, BitShares can actually afford near zero fees.  The wide-open frictionless nature is a huge advantage, simplifies everything, and puts whatever profits can be made, directly in the hands of business. 
 
For a jump start(early on) or later for odd situations where there is no other means or incentive to fund changes or development(unlikely/very rare) we can agree to cut our 135 year cushion or agree on a tax somewhere to pay for it.  With heavy use we would be adding to the cushion. Tax could end once paid for.

I think BitShares is so efficient that this task of paying to maintain the system, when mature, will be laughably easy.   

BitShares can be invisible...        , indestructible(graphene) and suitable for any and every form(~plasma).
Business and entrepreneurs will take BitShares to the moon, we just need get out of the way.

I think I should translate it Chinese.. or ask someone to do it.

//Update:
Due to the new year holidays, Chinese people would be busying visiting families and/or traveling these days (1-3 weeks). It's likely that most people will go to places where is no good Internet connection. And most people may have no much time to spend on BitShares. So I suggest that we postpone the deadline of decision making (read: voting) and give more time to Chinese community. Thanks.