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BitShares X inactivity fees?

Started by eagleeye, August 20, 2014, 10:38:52 PM

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GordonS

Quote from: gamey on August 28, 2014, 08:25:08 AM
It allows the blockchain to be pruned and incentivizes voting.

Maybe I'm missing something, but:


  • How exactly does having you move your BTSX encourage voting?
  • What exactly is 'pruning the blockchain', and how is it beneficial?
  • Does the client give you a warning a while before you need to move your BTSX?

gamey

Quote from: GordonS on August 28, 2014, 08:15:27 AM
Quote from: xeroc on August 27, 2014, 06:16:42 PM
Quote from: pgbit on August 27, 2014, 05:54:40 PM
Just for clarity, to avoid 5% inactivity fee, can we just move 1 bts around from each account - or do all bitshares need to be moved each year?
ALL need to be moved

What's the point in this then?

Does the client give you a warning a while before you need to engage in this pointless exercise?

It allows the blockchain to be pruned and incentivizes voting.
I speak for myself and only myself.

GordonS

Quote from: xeroc on August 27, 2014, 06:16:42 PM
Quote from: pgbit on August 27, 2014, 05:54:40 PM
Just for clarity, to avoid 5% inactivity fee, can we just move 1 bts around from each account - or do all bitshares need to be moved each year?
ALL need to be moved

What's the point in this then?

Does the client give you a warning a while before you need to engage in this pointless exercise?

xeroc

Quote from: pgbit on August 27, 2014, 05:54:40 PM
Just for clarity, to avoid 5% inactivity fee, can we just move 1 bts around from each account - or do all bitshares need to be moved each year?
ALL need to be moved

pgbit

Just for clarity, to avoid 5% inactivity fee, can we just move 1 bts around from each account - or do all bitshares need to be moved each year?

eagleeye

Quote from: testz on August 20, 2014, 10:48:34 PM
Quote from: eagleeye on August 20, 2014, 10:46:44 PM
so I send it from one bter account to another?

In case of exchange, avoid 5% inactivity fee will be exchange responsibility.
Your should do it only if you have BTSX in your wallet.

thank you for the knowledge
TheValueSwan
www.thevalueswan.com

testz

Quote from: eagleeye on August 20, 2014, 10:46:44 PM
so I send it from one bter account to another?

In case of exchange, avoid 5% inactivity fee will be exchange responsibility.
Your should do it only if you have BTSX in your wallet.

eagleeye

so I send it from one bter account to another?
TheValueSwan
www.thevalueswan.com

tonyk

You will have to send them to yourself at least once a year to avoid that 5% fee.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

eagleeye

I was reading the FAQ on http://bitshares.org/faq/

It said "What fees are charged to users of BitShares X?...5% inactivity fee is assessed to every address that has had no activity for a full year"

What does this exactly mean?  Will I lose 5% of my BitShares X by just holding them or ?

TheValueSwan
www.thevalueswan.com