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Main => General Discussion => Topic started by: Taconator on April 20, 2017, 12:54:37 pm

Title: Fees Report
Post by: Taconator on April 20, 2017, 12:54:37 pm
Greetings everyone,

Ten days ago, @tbone put out a call for information about the total fees collected on the network. I compiled this information for the time period from the blockchain's start, in October  2015, through March 2017. The report is available  here (https://github.com/TheTaconator/bitshares-whitepapers/raw/reports-201704/pdfs/bitshares-collected-fees-report-2017-03.pdf).

Please note several things about what the report is and is not:


In summary, fees were collected in terms of 349 assets. The total fees collected in the core asset, BTS, are 47,106,798 BTS. The leading types of operations that generated the fees in BTS are listed below.

Operation Type% of Total BTS
Asset Create48%
Account Upgrades26%
Account Create17%
Limit Order Create3%
Transfer Operation2%
Asset Publish Feed1%
Vesting Balance Withdrawal1%


The details of the data are presented in different ways to help with analyzing them in different ways. Appendix A categorizes the collected fees in percentage terms for every operation type. Appendix B contains the nominal fees for every type of operation which is helpful especially when a particular operation might have a relatively low quantity of fees which would be hidden when expressed solely in percentage terms.

If you do encounter any errors in the report, please let me know and I will correct the report as soon as possible.
Title: Re: Fees Report
Post by: DestBest on April 20, 2017, 01:35:14 pm
Very good work !!!
Thank you !   +5%
Title: Re: Fees Report
Post by: Thom on April 20, 2017, 01:54:19 pm
That is some top notch Sherlock Holmes work there Taconator, excellent! That data will inform the committee of all the details, and help them in making adjustments.
Title: Re: Fees Report
Post by: abit on April 20, 2017, 09:20:06 pm
Good work.
Best if we have charts. Or have raw data (if not available now) so other people can help make charts.
If it hasn't been posted to https://steemit.com/, please do.
 +5%
Title: Re: Fees Report
Post by: Chris4210 on April 20, 2017, 09:24:46 pm
This report is great for us. This will help us to make better decisions and update the fee accordingly. Thank you very much.

Title: Re: Fees Report
Post by: Geneko on April 23, 2017, 07:53:41 pm
Great stuff!! Thank you.

This is very important document. It would be very good if we could get those reports on regular ( monthly,  quarterly, yearly) bases.

I like its findings so far. Although generally informative, I don't understand scope of its interest. I suppose it is meant for Bitshares share holders.
Without:
 - subsequent distribution of the collected fees to entities such as the network, witnesses, worker proposals, asset issuers, referrers, nor lifetime member accounts;
 - the quantities that are reported in the document are all in terms of the asset units that were specified for fee payment
, it lacks basics for valuable conclusions such as ( I'll put my opinion in parentheses):

- how well it performs in terms of a company aka Distributed Autonomous Companies (no clue w/o expenses)
- where is possible space for improvement in terms of income (it partially provided clue)
- does current fee structure supports mentioned above (no clue)
- how does it distribute value that it creates (no clue)
- is this distribution in compliance with its short term and long term goals (no clue)

As a basics for future improvement I would suggest minor changes:
Income side
- all fees denominated in BTS, structured by descending value (gross network fees)
- basic gross fee structure in terms of percentage of the whole (core token, MPAs, UIAs)
- all fees after deductions, that goes to network (neto network fees)
expenditure side:
- witnesses
- workers
- other if exists
Title: Re: Fees Report
Post by: Taconator on April 24, 2017, 01:04:41 pm
Best if we have charts. Or have raw data (if not available now) so other people can help make charts.
If it hasn't been posted to https://steemit.com/, please do.

Good suggestion. Charts will be coming ...
Title: Re: Fees Report
Post by: Taconator on April 24, 2017, 01:14:30 pm
This is very important document. It would be very good if we could get those reports on regular ( monthly,  quarterly, yearly) bases.
Yes, I am considering doing that.


I like its findings so far. Although generally informative, I don't understand scope of its interest. I suppose it is meant for Bitshares share holders.
That is correct.  For now, the report is intended for shareholders.


Without:
 - subsequent distribution of the collected fees to entities such as the network, witnesses, worker proposals, asset issuers, referrers, nor lifetime member accounts;
 - the quantities that are reported in the document are all in terms of the asset units that were specified for fee payment
, it lacks basics for valuable conclusions such as ( I'll put my opinion in parentheses):

- how well it performs in terms of a company aka Distributed Autonomous Companies (no clue w/o expenses)
- where is possible space for improvement in terms of income (it partially provided clue)
- does current fee structure supports mentioned above (no clue)
- how does it distribute value that it creates (no clue)
- is this distribution in compliance with its short term and long term goals (no clue)

As a basics for future improvement I would suggest minor changes:
Income side
- all fees denominated in BTS, structured by descending value (gross network fees)
- basic gross fee structure in terms of percentage of the whole (core token, MPAs, UIAs)
- all fees after deductions, that goes to network (neto network fees)
expenditure side:
- witnesses
- workers
- other if exists
Excellent suggestions, thank you. At the moment, I am thinking that this is the first version of a report that will continue to evolve and be updated.
Title: Re: Fees Report
Post by: fav on April 24, 2017, 08:10:52 pm
is there a chance to get a report every month? how much work is it?
Title: Re: Fees Report
Post by: renkcub on April 27, 2017, 02:02:44 pm
Interested in charts by month.
Title: Re: Fees Report
Post by: Taconator on May 14, 2017, 02:14:14 pm
A report on the fees collected on the BitShares blockchain through April 2017 can be found here (https://github.com/TheTaconator/bitshares-whitepapers/raw/reports/pdfs/bitshares-collected-fees-report-2017-04.pdf).

During the month, 2.97 million BTS were collected for 2.87 million operations (within 1.01 million transactions) on the blockchain.

During the month, the leading distribution of BTS feed collected for operations were as follows:

Operation Type% of Total BTS
Asset Create67%
Account Upgrades14%
Limit Order Create7%
Account Create6%

Two charts are available within the document: one for fees versus time, another for operations versus time.
Title: Re: Fees Report
Post by: Permie on May 14, 2017, 03:57:42 pm
A report on the fees collected on the BitShares blockchain through April 2017 can be found here (https://github.com/TheTaconator/bitshares-whitepapers/raw/reports/pdfs/bitshares-collected-fees-report-2017-04.pdf).

During the month, 2.97 million BTS were collected for 2.87 million operations (within 1.01 million transactions) on the blockchain.

During the month, the leading distribution of BTS feed collected for operations were as follows:

Operation Type% of Total BTS
Asset Create67%
Account Upgrades14%
Limit Order Create7%
Account Create6%

Two charts are available within the document: one for fees versus time, another for operations versus time.

Thank you so much for this data!

I've just read it quickly, and I can see that in Table 2
Quote
Table 2. Fees collected by the blockchain from 2015-10 through 2017-04 for the different operation types.
That the 'Quantity' of fees(?) for USD since October 2015 (18 whole months) is only $113.6

Does this really mean that BitShares has only collected £113 worth of fees by enabling the use of bitUSD for nearly 2 years??
Title: Re: Fees Report
Post by: fluxer555 on May 14, 2017, 05:49:07 pm
I'm pretty sure most of the fees collected as a result of BitUSD are in BTS. It's possible to pay fees with another asset, but it usually doesn't happen.
Title: Re: Fees Report
Post by: Permie on May 14, 2017, 06:32:20 pm
I'm pretty sure most of the fees collected as a result of BitUSD are in BTS. It's possible to pay fees with another asset, but it usually doesn't happen.
Makes sense, cheers.

So the vital statistic that shareholders should be looking at to see the overall profitability of the network is the 'fees collected in bts'?
Title: Re: Fees Report
Post by: Thom on May 15, 2017, 01:57:46 am
In case you missed it the summary says fees collected between October of 2017 to April of 2017. Should be October of 2015.

Other than that minor item the report looks great, very informative. Should help the committee to adjust fees
Title: Re: Fees Report
Post by: Taconator on July 24, 2017, 01:10:46 pm
In case you missed it the summary says fees collected between October of 2017 to April of 2017. Should be October of 2015.

Thanks for the error notice. Will correct.
Title: Re: Fees Report
Post by: Taconator on July 24, 2017, 01:18:06 pm
Thank you so much for this data!

I've just read it quickly, and I can see that in Table 2
Quote
Table 2. Fees collected by the blockchain from 2015-10 through 2017-04 for the different operation types.
That the 'Quantity' of fees(?) for USD since October 2015 (18 whole months) is only $113.6

Does this really mean that BitShares has only collected £113 worth of fees by enabling the use of bitUSD for nearly 2 years??

No although I see how that could be interpreted that way. Actually, that row is simply reporting how many fees were paid with bitUSD.  All entries throughout the report simply indicate with which assets fees were paid.
Title: Re: Fees Report
Post by: Taconator on July 24, 2017, 01:35:38 pm
A new report of collected fees through June 2017 has been prepared and is available at here (https://github.com/TheTaconator/bitshares-whitepapers/raw/reports/pdfs/bitshares-collected-fees-report-2017-06.pdf).

During the month, 1.60 million BTS were collected for 9.32 million operations (within 2.60 million transactions) on the blockchain. The leading distribution of operational fees paid/collected with BTS were as follows:

Operation Type% of Total BTS
Asset Create64%
Account Upgrades16%
Account Create14%
Limit Order Create3%
Transfer Operation1%


If you do encounter any errors in the report, please let me know and I will correct the report as soon as possible.
Title: Re: Fees Report
Post by: fav on July 25, 2017, 05:09:15 am
A new report of collected fees through June 2017 has been prepared and is available at here (https://github.com/TheTaconator/bitshares-whitepapers/raw/reports/pdfs/bitshares-collected-fees-report-2017-06.pdf).

During the month, 1.60 million BTS were collected for 9.32 million operations (within 2.60 million transactions) on the blockchain. The leading distribution of operational fees paid/collected with BTS were as follows:

Operation Type% of Total BTS
Asset Create64%
Account Upgrades16%
Account Create14%
Limit Order Create3%
Transfer Operation1%


If you do encounter any errors in the report, please let me know and I will correct the report as soon as possible.

256k BTS ($43k) for Account Upgrades is still a whole lot. Considering how expensive it is and what you get for it.
Title: Re: Fees Report
Post by: beginner on July 26, 2017, 08:15:32 am
great report! thank you! :D
Title: Re: Fees Report
Post by: Taconator on October 02, 2017, 12:11:21 pm
A new report of collected fees through August 2017 has been prepared and is available at here (https://github.com/TheTaconator/bitshares-whitepapers/raw/reports/pdfs/bitshares-collected-fees-report-2017-08.pdf).

During the month, 0.80 million BTS were collected for 8.92 million operations (within 2.96 million transactions) on the blockchain. 48% of the operations were due to market order creations, and 43% were due to market order cancellations. However, those operations only generated 8% of the collected fees.

The leading distribution of operational fees paid/collected with BTS were as follows:

Operation Type% of Total BTS
Asset Create69%
Account Upgrades17%
Limit Order Create7%
Account Create4%
Transfer Operation2%
Limit Order Cancel Operation1%


If you do encounter any errors in the report, please let me know and I will correct the report as soon as possible.
Title: Re: Fees Report
Post by: Taconator on December 02, 2017, 12:55:58 pm
A new report of collected fees through October 2017 has been prepared and is available at here (https://github.com/TheTaconator/bitshares-whitepapers/raw/reports/pdfs/bitshares-collected-fees-report-2017-10.pdf).

During the month, 2.31 million BTS were collected for 7.89 million operations (within 2.71 million transactions) on the blockchain. 50% of the operations were due to market order creations, and 41% were due to market order cancellations. However, those operations only generated 2% of the collected fees.

The leading distribution of operational fees paid/collected with BTS were as follows:

Operation Type% of Total BTS
Asset Create80%
Account Upgrades14%
Account Create2%
Limit Order Create2%
Transfer Operation1%


If you do encounter any errors in the report, please let me know and I will correct the report as soon as possible.
Title: Re: Fees Report
Post by: paliboy on March 12, 2018, 04:07:24 pm
@Taconator do you plan to publish new reports? If yes, it would be nice to have a separate section for bitCNY and bitUSD trading fees.