let me know if I'm misunderstanding
I thought you are talking about attract more users with something like earn easy money.
you think this is huge, even want to change many rules.
my point is there is no easy money totally,
we have profit as a DEX, but I don't think it's a good idea to wast these money attract some fake user.
I have no interesting in this easy money trick
if you are talking about something like adjust balance for the shorters and longers, it should be another thread.
bank have many real business to pay the divident.
where is the business based bitshares?
I believe we'll get divident too after we have some real business.
pay divident is the result, not the reason.
In fact I feel sick for the ""
this title make Bitshares looks like a scam
I wish never see this title in the official site.
@alt, what's wrong with paying a rate of return to bitAsset holders? Banks have traditionally offered interest on savings accounts. And in crypto, chains like DASH, NEM, PIVX, and others enable users to get a return on their holdings. There's nothing scammy about it!
Also, Bitshares used to pay an interest rate of return and had $1M+ bitUSD in circulation. Now we pay no such interest and have just $100k bitUSD in circulation. Is this just a coincidence?
Finally, as you know, currently the network gets 20% of collected fees. This proposal wants to raise that to 50%. Don't you love that? You should. You should love this whole proposal.
We are talking about paying the dividends by using a percentage of the fees collected. Those are fees that users paid for utilizing the services offered by bitshares. This is not real business being conducted? This is not value created by bitshares?
No, please tell me if *I* am misunderstanding. Are you saying that people who buy bitAssets are "fake users"? Maybe you should let
@bitcrab know about this. After all, his transwiser business depends on demand for bitAssets. Without such demand, he has no business. And we know that demand is much lower now than it was in the past when bitAsset holders were able to earn a rate of return on their holdings.
So tell me, do you want bitcrab's transwiser business to have customers? What about other shorters and traders in general? Do you want an active market for bitAssets where a large number of users means there is always market activity because then, aside from the traders, there will always be someone looking to put some money into bitAssets...and there will always be someone looking to take money out? There is no point in having bitAsset order books just so traders can trade back and forth with each other if there is no real use case for the asset they are trading. Now THAT would be fake users!
So tell me, what is wrong with offering a better interest rate to people who store some money in bitUSD instead of in the bank? It is very early in the game for cryptocurrencies right now. To attract regular people, we need to give some extra incentive. In the future, it may not be necessary. But at this point, it IS necessary. This is just smart business.
Lastly, no one is talking about "changing many rules". We are only talking about shifting a portion of the income that currently goes to the referral program (see below). This enables us to: 1) replenish the reserve pool 2.5x faster, 2) drive much more demand for bitAssets, and 3) make the referral program more effective by rewarding LTM accounts. This would be a huge win for all parties involved, and would be extremely bullish for BTS.
Current fee allocation:
20% -- network
80% -- referral
Proposed fee allocation:
50% -- network
20% -- referral program
20% -- interest to bitAsset holders
10% -- dividend to LTM accounts