I am trying to understand. You seem to be saying that you have a fundamental problem with the referral program. Are there really not any similar systems in China? There are so many in the United States. Near my house there is a sporting association. They have a pistol range, rifle range, skeet shooting, and trap. Its open to the public at a certain price, but members get a greatly reduced rate. So a day of shooting trap might cost me $40 as a member, but would cost a non member $120.
Why do you think the Chinese community is not interested in attempting to earn through the referral program? We have a member of our community draining fee pools 10bts at a time. Surely the referral program is better than picking up pennies from the "give a penny leave a penny" tray.
I also have a hard time reconciling the wish to prevent dilution, and the wish to reduce the earnings of the network. The fees collected by the network help offset the dilution that we pay our witnesses and workers with. The account upgrade fee is one of the most important.
A quick count of upgrades shows 295 since launch, including 45 in the last month alone. That is equivalent 900,000 bts spent in the last month on this one single operation. Even if you assume that every upgrade was a newly registered account, and thus not referred by the committee that is 180,000 bts earned by the network in the last 30 days because 45 people found enough value in upgrading.
In contrast at the current rate of about 200 transfers a day , and 30 bts per transfer it would take about 5 months to earn for the network what account upgrade earned in the last month. I would really like to see more in depth fee information. I wonder if cryptofresh has compiled any of that information
Before I could accept your proposal to remove the referral program from bts but keep it on bitassets, I would need to see some evidence that this would be best for the network. I am open to the idea, but at this point I really don't see it.
edit. spaced the content out to aid in reading.
I am not saying all the referral program do not work in China, I only said the current BTS referral program are not welcomed in China.
BTS referrer program bring a price more higher than reasonable, no referral will be happy if he get known the price is so high and 80% are paid to the referrer. on the other hand, it's not easy for the referrer to recommend a product/service with so high price.
please understand why Chinese are sensitive to the price, China is a country where alipay is free, wechat payment is free, most inter bank transfers are free.
I have discussed the reasonable transfer fee above, for BTS the reasonable transfer fee can be 2-5 BTS.
fee are the renenues of the network, but also are costs of shareholders/users. transfer fee are friction, friction always slow down economy.
in the updated plan, there will be 3 mode, both mode A and mode C are flat fee, but for A the fee totally go to network, for C referrer will take 80%, the flat fee will be set by committee, but I think A will own a lower fee than B. BTS is the fundamental asset in the system, need to be applied mode A with transfer fee as low as possible.
for public smartcoins, as now there are privatized smartcoins, so its ok for public smartcoins to be applied mode B. users do not like referral program/high fee can play with privatized smartcoins.