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Messages - bench

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166
Stakeholder Proposals / Re: [Committee Proposal] Setting market fee sharing for bitCNY, bitUSD and bitEUR
« on: June 19, 2019, 02:23:27 pm »
Quote from: binggo on June 19, 2019, 12:46:24 am
Who is the biggest beneficiary from it? the LFM? do you think so?

Now everyone pays a 0.04% fee, which gets to Bitshares.
Afterwards Bitshares gets only 0.02%, what a LTM has, to pay.
The main benefit goes to LTM!

167
Stakeholder Proposals / Re: [poll] BTS repurchase destruction proposal
« on: June 19, 2019, 02:16:00 pm »
Destruction means sending BTS back to the reserve pool?

168
Stakeholder Proposals / Re: [Committee Proposal] Setting market fee sharing for bitCNY, bitUSD and bitEUR
« on: June 19, 2019, 12:14:29 am »
Quote from: binggo on June 18, 2019, 10:57:03 pm
Especially the smartcoin, who produced the smartcoin, did the producer get any benefit from it?
He can borrow as long as he wants at almost zero costs with zero interest rate. What do you want more?

169
Stakeholder Proposals / Re: [Committee Proposal] Setting market fee sharing for bitCNY, bitUSD and bitEUR
« on: June 18, 2019, 07:58:24 pm »
Support!

170
General Discussion / Re: market fee sharing setting for smartcoins
« on: June 18, 2019, 10:28:09 am »
Quote from: matle85 on June 18, 2019, 09:55:52 am
Correct?
Yes, but you missed the LTM fee. 80% gets to the referrer (2400BTS), which is not a small number. 

171
General Discussion / Re: market fee sharing setting for smartcoins
« on: June 17, 2019, 09:36:53 pm »
80% referral bonus is need to close the buying gab for a LTM. If CEX only offer 50%, this is another advantage for DEX.

On the other side the DEX profits, when people buy more LTM, but doesn't loose much in terms of trading fees.
 

172
General Discussion / Re: market fee sharing setting for smartcoins
« on: June 16, 2019, 08:25:19 pm »
Quote from: Thul3 on June 16, 2019, 06:50:05 pm
Most webmasters who are not affiliated with bitshares won't pay the LTM fee to be able to promote bitshares.
Thats a key factor imo which is stopping many webmasters to promote bitshares.
What should we change ?

A light referral system for people without a LTM ?

173
General Discussion / Re: market fee sharing setting for smartcoins
« on: June 16, 2019, 05:07:12 pm »
1. 0.1% fee is not too high, when standard trading fee is 0.2%
2. most people don't trade much, they care more about liquidity and spread
3. professional traders get now a 50% discount with a LTM compaired to now
4. the referral system gets a much needed boost

Excluding the LTM from a reasonable bitAsset fee (80%) is a big disadvantage for our referral system compared to Binance or other platforms!

Second option:
Standard fee: 0.05%
LTM fee: 0.01%

Record low of account upgrades:

174
Stakeholder Proposals / Re: [poll] BTS repurchase destruction proposal
« on: June 16, 2019, 12:02:43 pm »
We should discuss here about the use of the 0.02% bitAsset market fee:

1. Start a buy back of BTS
2. Build a GS fund to allow lower MCR

Discussion about market fee sharing here: https://bitsharestalk.org/index.php?topic=28517.0

175
General Discussion / Re: market fee sharing setting for smartcoins
« on: June 15, 2019, 09:01:36 pm »
I fully support this:

1. This improves the referral system 
2. This improves the LTM
3. This should also improve spread for market maker with a 50% discount for trading fees compared to now

On the other side no one can complain about a one way 0.1% market fee, when 0.2% (two way) is the standard fee for trading.

I hope we can get a fast consensus for this!

176
General Discussion / Re: why not borrowing?
« on: June 15, 2019, 08:41:30 pm »
Quote from: Customminer on June 09, 2019, 12:56:09 pm
I prefer the Norns over FIAT pegged bitassets. 👍
Why?

177
Stakeholder Proposals / Re: [poll] BTS repurchase destruction proposal
« on: June 15, 2019, 10:03:11 am »
Quote from: ripplexiaoshan on June 15, 2019, 04:50:08 am
Quote from: bitProfessor on June 14, 2019, 03:32:23 pm
Quote from: Thul3 on June 14, 2019, 11:44:17 am
Quote from: bitcrab on June 14, 2019, 09:05:51 am
I do not support this proposal.

comparing to the daily BTS release via worker proposal budget, the market fee accumulation is so few that can be ignored and will not generate obvious effect.

I prefer to set smartcoins 100% market fee sharing, I believe this will greatly encourage users to become lifetime member and invite more users to come to BTS ecosystem.

this is a much better way to use the smartcoin market fee than "buy back BTS and burn".

Agree on that
Sounds like a good suggestion. It can be done at the same time. The two plans do not conflict.

Agree, we can do both at the same time.

If we do a 100% fee sharing we can't do both.

If we do a 80% fee sharing, with a fee increase to 0.1%, we can do both.

178
General Discussion / Re: Maker Taker Incentive/Fee parameter for Assets
« on: June 14, 2019, 03:31:30 pm »
Is there a support for taker/maker fee from core side?
I did read something, but could not find anything now!

179
Stakeholder Proposals / Re: [poll] BTS repurchase destruction proposal
« on: June 14, 2019, 03:28:00 pm »
Quote from: binggo on June 14, 2019, 02:11:48 pm
????!!!! how about 10%?
Quote from: bench on June 14, 2019, 01:38:08 pm
we need to raise fees to 0.1% again!
Because 0.2% is standard and we don't wont to rip of people here.

0.1% fee with 80% cashback looks like the best deal for everybody.
This gives power users 50% discount to now + 80% for every referral. 

0.02% of the fees could be used for GS protection, to lower MCR!

180
Stakeholder Proposals / Re: [poll] BTS repurchase destruction proposal
« on: June 14, 2019, 01:38:08 pm »
I already had a similar idea here: https://bitsharestalk.org/index.php?topic=28437.0

My second idea was, to use the market fees for a GS protection to lower the MCR, which should have a positive feedback:
Lower MCR -> more smart coins -> more volume -> more fees -> lower MCR

Quote from: bitcrab on June 14, 2019, 09:05:51 am
I do not support this proposal.

comparing to the daily BTS release via worker proposal budget, the market fee accumulation is so few that can be ignored and will not generate obvious effect.

I prefer to set smartcoins 100% market fee sharing, I believe this will greatly encourage users to become lifetime member and invite more users to come to BTS ecosystem.

this is a much better way to use the smartcoin market fee than "buy back BTS and burn".
I support this, but I think a 80% cashback on trading fees is already good enough. But to have an effect, we need to raise fees to 0.1% again!

But this is also not new: https://bitsharestalk.org/index.php?topic=27199.msg322781#msg322781

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