Show Posts
This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.
EDIT: And do it as FBA.
What is FBA?
20% go to network .. ALWAYS.
@xeroc , would you agree that if you are my referrer and after while I want to pay you off and become my own referrer, it's a deal between me and you. Nobody else is involved or affected, the income stream for the network is not affected.
Why on earth should the network be allowed to take a 20% cut in this private deal between me and you?
Just because somebody said "20% always goes to network"? It does not make sense in this case.
The network effectively steals 20% of the referrer's money.
IMO, it's logical error made by BM and it should be fixed.
As well as this absurd (so it seems) LTM 90-day vesting.
I, and many others, have been risking large amounts of capital and working our butts off for two years to get this network to where the referrers have their opportunity to make an income by using it. The network isn't "stealing" anything. It is being compensated for the opportunity it has created at great cost.
I think you misunderstood me. You mix up the referrer's income with the BitShares network's income.
All I'm saying is that when I buy LTM, the network currently takes 20% of the referrer's income without any valid reason. The entire referral fee should go to the referrer.
The network should not be compensated for anything. Its situation does not change when I buy LTM.
It's the referrer who created the opportunity and risked his money for marketing efforts, not the network.
20% go to network .. ALWAYS.
@xeroc , would you agree that if you are my referrer and after while I want to pay you off and become my own referrer, it's a deal between me and you. Nobody else is involved or affected, the income stream for the network is not affected.
Why on earth should the network be allowed to take a 20% cut in this private deal between me and you?
Just because somebody said "20% always goes to network"? It does not make sense in this case.
The network effectively steals 20% of the referrer's money.
IMO, it's logical error made by BM and it should be fixed.
As well as this absurd (so it seems) LTM 90-day vesting.
Just one point too: the success of referral program is not determined by the fee level, but by how many times people use BTS system.
With lower fees, you can make enough referral income, if your customers use BTS system actively. Why do you think low fee hurts your business? Please give me the number.
The referral program was debated, very extensively , and decided upon, quite a long time ago. As were the fees necessary to make it profitable.
If bttcrab subsequently made a business that cannot operate profitably under the agreed upon conditions, it is up to him to tweak his business model to make it profitable. Otherwuse he forces ronny at ccedk, and Ken and Data with their business models that had expected to profit from referrals, to change theirs. And I, who had invested a large amount to get STEALTH developed with the understanding that fees would be sufficient to recover my investment within my lifetime, will be royally screwed by low fixed transfer fees.
I agree that nothing is new. We have had this same transfer fee schedule for months now.
Right now a regular transfer is 30bts and a LTM is 6BTS
Under stealth we would be looking at 3X which I understand to be 90BTS and a LTM is 18BTS
At present transaction levels of roughly 200 transfers a day. Lets assume that Stealth brings in others that doubles that. I think overall at the current BTS market cap you would be looking at a return of about $200 a month give or take. If the fees were to come down by say a factor of 10, would we see greater adoption by a factor of 10? Could we see 2000 users of stealth instead of 200? It's not unreasonable to think so since lower fees can be more attractive. Of course we need to get to 40,000 users of stealth to make it more viable in this situation instead of just 4000 at the current rates.
Suppose with stealth now the refer people have a NEW feature to SELL... what if we manage to get setup next as a bitcoin sidechain where people can store their BTC in bitshares network and trade on the DEX AND get to use stealth features to give them increased privacy over what they can get in bitcoin? Another feature or refers to SELL. Are 40k users more likely in this scenario?
I think part of the challenge we face here is that we really don't know what is coming in 30 60 or 90 days from now for Bitshares aside from a handful of unfinished projects that none of us really know will produce any sort of results to the likes of the increased users or transactions as I just suggested. I think if we could get some sense for growth to be seen/had from reduced fees or keeping them the same it would be helpful. At this point though we are all just taking best guesses.
I also think @Empirical1.2 made a good point that you can increase the fee as you see fit if a decreased fee is going to have a strong impact. Which I think is another exciting aspect of FBAs.. though I don't know if it is something that is easily adjustable.
Where's bitcrab's plan then? What does he intend to do? How does he intend getting more users? What plan can he shows us that his business model can outcompete OpenLedger? That way people might consider him. Until then, they won't.what bitcrab have done for BTS?
he is the fiat gateway for bitCNY
look at bitCNY and bitUSD market, it's bitcrab who make bitCNY peg CNY more better.
he had develop a whole system, exchange from bitCNY to fiatCNY automaticly.
and he never asked for 1 BTS from community.
before bitcrab, gulu is the gateway for fiatCNY, but his business is manual, bad user experience, and community have give a 100% delegate to sponsor gulu.
also, bitcrab have ask btc38 to accept bitCNY, TCNY
he have ask yunbi to accept bitCNY also, but had been refused, because they don't want to spent more time for BTS, they have lose interesting for BTS.
and bitcrab have try to find a USD fiat gateway
and maybe many other things I don't know
No replies on this post :p
Cannot rebut?
lol this is the kind of comments that lead people into useless attacks against each other. I simply didn't see it.
I didn't ask what he has done. I asked what is he going to do. What's his plan. Alt didn't understand my question giving a reply that has nothing to do with what I asked (it happens) an I still get provoked? I really hope you didn't do this on purpose and was simply a joke, which is fine, otherwise these kind of comments are useless and only contribute to unnecessary discussions. If I reacted like Ken I would already be flaming and turning this into a fight.
I could argue the same about other questions that have been asked but that would simply be childish.
So I will ask again. What is his plan in the future with the lower fees? And to be even more specific, this is not an rhetoric question aiming to insult his business plan or understimate it, I merely want to know what he plans to do. Continue with what he has done so far or take advantage of the lower fees to do something else?
I know this is strectching it but assuming he has good relationship with chinese exchanges, with lower fees does he intend on trying to convince them to run on top of BitShares like OpenLedger? Given that lower fees could open the door for that.
Your question makes no sense to me. What is the better plan than making the current business profitable (or at least out of danger)? Other guys can give you a good plan because their business has not started yet. ]But bitcrab's business is running now, and in danger. If this continues, the next plan will be closing the business I think.
I believe you only pay to your registrar. Check accounts on cryptofresh, if they have something like "Registrar openledger-reg", they were registered trough Openledger so they pay them. If you use the lightclient I believe you don't, however you might not have a faucet to register it so you'll need someone to send you the initial bts. I'm not sure though, give it a try.Referral program can be "one of" incentives for business owners. But high fees are always disadvantage for users.
As for @clayop if those people are the ones bringing new people in, why shouldn't they benefit from it? What if no one was doing that? We wouldn't grow, at least not as fast definitely. I don't understand this it's like for you this is making the chain hostage.
I have already said countless times, these services are the ones bringing people in, it won't be you or me bringing a continuous stream of new users. It will be services. People alone won't try BitShares just "because". They will because they hear about services like OpenLedger. They are the ones who do all the marketing for the network. They are the ones who pay for that marketing. They are the ones spending time.
I don't know how you still think they are hurting the chain. Without incentive you think individual people will do that for you? That someone will loose the time , energy and money to do it? Yes, if you or me get someone to register, we are helping the network, but people won't come alone.
Users are not free. They need to be acquired. Customer acquisition has costs. It's not individuals like us who will bring in hundreds or thousands of users and provide a continuous stream of new users. Those same services you don't seem to want to help, will. Without that incentive you won't have new users.
What you seem to be forgetting is that if that same service didn't register that same user, that user would have never joined BitShares or even heard about it.
I think your logic is completely twisted. But everyone is entitled to their own opinions.
We are now killing a very important business that are connected to enormous market, china. I'm really worried that bitcrab leaves BTS with his customers and human networks (exchanges, celebrities). He can, because he's a business guy. If he find more attractive market than BTS he will move.
