That would be a good first step. We can automate that later.

Quote from: Ravid on January 04, 2018, 05:24:22 AM

Could it be cheaper and easier just to schedule a monthly fee adjustment by committee?
Like, every month at a certain day the committee adjusts the fee according to the current price of BTS. As this will become a "part of the job", every member will have to engage in discussion and voting. And because the adjustment date is known beforehand, all the discussions would take place in the days leading up to it with arriving to final decision at the day of the adjustment

Thank would be good. Amen to that.

Quote from: Thom on January 03, 2018, 09:34:53 PM
Indeed, pegging fees to BitUSD would be ideal, but I suspect a real bitch to implement without screwing our performance.

Even if that isn't true, it affects such a huge part the core it would cost a lot to implement and test.

Could it be cheaper and easier just to schedule a monthly fee adjustment by committee?
Like, every month at a certain day the committee adjusts the fee according to the current price of BTS. As this will become a "part of the job", every member will have to engage in discussion and voting. And because the adjustment date is known beforehand, all the discussions would take place in the days leading up to it with arriving to final decision at the day of the adjustment

Indeed, pegging fees to BitUSD would be ideal, but I suspect a real bitch to implement without screwing our performance.

Even if that isn't true, it affects such a huge part the core it would cost a lot to implement and test.

All fees should be pegged to bitUSD instead of requiring manual adjustment whenever BTS fluctuates heavily in price - because the committee reacts far to slowly to fluctuations in marketcap.

IIRC creating vesting balances is intentionally expensive because it creates objects that permanently take up space in the internal database.

But I think it's time to reduce fees anyway. LTM was supposed to be around ~100 USD or so, it's been lot higher for the last couple of months.

Crypto-Bridge is actively using a vesting balance to emulate staking / locking away their asset. operation is very expensive ~$27 - so I propose to significantly lower it.

Basic Fee: 5 BTS

open for discussion, any downsides in reducing?

paging @xeroc @pc @oxarbitrage