BitShares Forum

Main => General Discussion => Topic started by: merockstar on July 01, 2014, 03:47:40 pm

Title: question: plus five percent?
Post by: merockstar on July 01, 2014, 03:47:40 pm
 +5%

is that still happening? the derivatives model was given up on right?

so that leaves the transaction fees that get destroyed-- but... delegates are going to be able to set that for themselves, no?

so it might actually be + 1%, or +10%?

am I missing a piece of the puzzle?

how do you calculate bitAsset fees so that the transactions fees works out to  +5% for everybody else?
Title: Re: question: plus five percent?
Post by: mitao on July 01, 2014, 03:53:50 pm
5% is for bitasset


Sent from my iPhone using Tapatalk
Title: Re: question: plus five percent?
Post by: merockstar on July 01, 2014, 03:54:38 pm
Quote from: mitao on July 01, 2014, 03:53:50 pm
5% is for bitasset


Sent from my iPhone using Tapatalk

but where does it come from?

actually, thinking this through, if bitAssets don't have delegates, but have transaction fees, that makes a lot of sense.

will the fees be set at 5%?
Title: Re: question: plus five percent?
Post by: mitao on July 01, 2014, 03:59:47 pm
The shorting party who issues bitasset is paying the shorting interest.


Sent from my iPhone using Tapatalk
Title: Re: question: plus five percent?
Post by: merockstar on July 01, 2014, 04:04:01 pm
Quote from: mitao on July 01, 2014, 03:59:47 pm
The shorting party who issues bitasset is paying the shorting interest.


Sent from my iPhone using Tapatalk

that makes even more sense. thanks for helping me clear this up in my mind.

one more question: will bitUSD blocks be confirmed by the same delegates as bitshares?

edit, wait a second: the collateral that gets put up by the shorting party is in bitshares, not bitAsset

so destroying bitshares drives up the price of bitshares...

i guess i need somebody to spell this out for me like I'm a tard (not far from the truth)
Title: Re: question: plus five percent?
Post by: toast on July 01, 2014, 05:10:26 pm
The  +5% is a proposed feature which might be implemented on a a future BTS X chain. In such a chain, the holder of BitUSD earns interest paid out of the short position's collateral. The short is paying 5% on the value of their bitshares which the system uses to buy bitUSD and give it to the long position.

All the various assets live on a chain together, BitUSD moves around just like the user-issued assets on the real chains.
Title: Re: question: plus five percent?
Post by: merockstar on July 01, 2014, 05:20:31 pm
Quote from: toast on July 01, 2014, 05:10:26 pm
The  +5% is a proposed feature which might be implemented on a a future BTS X chain. In such a chain, the holder of BitUSD earns interest paid out of the short position's collateral. The short is paying 5% on the value of their bitshares which the system uses to buy bitUSD and give it to the long position.

All the various assets live on a chain together, BitUSD moves around just like the user-issued assets on the real chains.

now it's clear! thanks toast