BitShares Forum

Main => Technical Support => Topic started by: karnal on March 08, 2015, 04:45:50 pm

Title: "inactivity tax" question
Post by: karnal on March 08, 2015, 04:45:50 pm

During my research I read that there's some sort of inactivity tax, where 5% gets taken from bitassets that have not moved address for a year.

Is this info still current? And if so, does the official client proactively warn about the impending 5% cut in any way?

Title: Re: "inactivity tax" question
Post by: mdj on March 08, 2015, 07:21:02 pm

I think that got removed, at least I hope so because its an awful idea!

Title: Re: "inactivity tax" question
Post by: Troglodactyl on March 08, 2015, 07:56:15 pm

This was discussed, but does not currently exist and there are no current plans to ever implement it as far as I know.

There are a lot of drawbacks to the idea, but if I remember correctly the main benefit was being able to have a rolling year of blockchain data and throw away anything older than that to trim storage requirements.  Also removing uncertainty about the real supply when some funds are effectively burned because their private keys have been destroyed.

Anyway, the idea is dead.

Title: Re: "inactivity tax" question
Post by: karnal on March 10, 2015, 12:58:27 pm

Ok, that settles that. Seems there's a lot of outdated info out there (wiki, old blog posts).. perhaps we should address that, it can be confusing to newcomers.

Thank you guys for the replies.

Title: Re: "inactivity tax" question
Post by: loszhor on March 18, 2015, 09:58:35 am

    I must agree that the information available on BitShares needs to be updated and simplified. I have found the learning curve on usage very high mostly due to outdated information. Luckily the community has been very helpful but the official information should cover the essentials already. I find that the bulk of the information available mostly deals with what BitShares are but not how to use them.

Title: Re: "inactivity tax" question
Post by: rgcrypto on March 25, 2015, 12:40:01 am

Quote from: karnal on March 10, 2015, 12:58:27 pm

Ok, that settles that. Seems there's a lot of outdated info out there (wiki, old blog posts).. perhaps we should address that, it can be confusing to newcomers.

Thank you guys for the replies.

We are doing a Wiki Wesnesday tomorrow, wanna join us?

Title: Re: "inactivity tax" question
Post by: karnal on March 26, 2015, 06:19:50 pm

Quote from: rgcrypto on March 25, 2015, 12:40:01 am

Quote from: karnal on March 10, 2015, 12:58:27 pm

Ok, that settles that. Seems there's a lot of outdated info out there (wiki, old blog posts).. perhaps we should address that, it can be confusing to newcomers.

Thank you guys for the replies.

We are doing a Wiki Wesnesday tomorrow, wanna join us?

Sounds fun. How to get in?