Author Topic: why people is going to pay for bitshares 2.0 wallet ?  (Read 1964 times)

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Offline infovortice2013

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why people is going to pay for bitshares 2.0 wallet ?
« on: June 10, 2015, 04:01:26 pm »
hope to recive hundreds of answers, really need to spam them.
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Offline xeroc

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #1 on: June 10, 2015, 04:06:47 pm »
I am not going to pay for the wallet .. why would you? Just download it from github ..

Bitshares is open ... and free to use ..
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Offline infovortice2013

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #2 on: June 10, 2015, 04:11:29 pm »
but i read anywhere refferal program  :o 

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Offline Method-X

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #3 on: June 10, 2015, 04:12:43 pm »
but i read anywhere refferal program  :o

If you're a power user you pay to minimize your fees. Like a "real" business...

Offline infovortice2013

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #4 on: June 10, 2015, 04:16:24 pm »
ok i find it

user - basic: pays for a transaction 0.2 Dollars if you upgrade to Lifetime membership for 100 USD this transaction fee is 0.04 Dollars or 4 Cent.

In terms of now you pay 5.6 BTS each transaction on the Lifetime membership tier and on User level 28 BTS

what i don't get - with 0.20 Dollar each transaction every basic user - micropayment is dead!

cuotas are used for pay less fees, but i read anywhere must pay for names too
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Offline xeroc

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #5 on: June 10, 2015, 04:40:42 pm »
Bts2.0will be used as a foundation to the decentralized dns .. hence if you want a username that has less than 8 chars .. you will nees to pay an extra fee .. how much is defined by stakeholders
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Offline bytemaster

Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #6 on: June 10, 2015, 04:48:25 pm »
Bts2.0will be used as a foundation to the decentralized dns .. hence if you want a username that has less than 8 chars .. you will nees to pay an extra fee .. how much is defined by stakeholders

It can be less than 8 characters if no vowels or at least 1 number.
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Offline xeroc

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #7 on: June 10, 2015, 04:49:18 pm »
Bts2.0will be used as a foundation to the decentralized dns .. hence if you want a username that has less than 8 chars .. you will nees to pay an extra fee .. how much is defined by stakeholders

It can be less than 8 characters if no vowels or at least 1 number.
We might need a price list with some examples here ..
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Offline bytemaster

Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #8 on: June 10, 2015, 04:52:42 pm »
Bts2.0will be used as a foundation to the decentralized dns .. hence if you want a username that has less than 8 chars .. you will nees to pay an extra fee .. how much is defined by stakeholders

It can be less than 8 characters if no vowels or at least 1 number.
We might need a price list with some examples here ..

I'll let the community propose prices for different lengths of names.
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Offline Akado

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #9 on: June 10, 2015, 04:57:12 pm »
and that's how fud starts. if people took the time to read or simply ask instead of doing these titles for a thread
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Offline Empirical1.2

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #10 on: June 10, 2015, 05:07:59 pm »
Bts2.0will be used as a foundation to the decentralized dns .. hence if you want a username that has less than 8 chars .. you will nees to pay an extra fee .. how much is defined by stakeholders

It can be less than 8 characters if no vowels or at least 1 number.
We might need a price list with some examples here ..

I'll let the community propose prices for different lengths of names.

We don't know what the optimal price is, so I would start with very high prices that decrease every month till we get to an optimal price.

(Also a handful of names might be extremely valuable and we want to make sure we maximise that.)

« Last Edit: June 10, 2015, 05:20:42 pm by Empirical1.2 »
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Offline NewMine

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #11 on: June 10, 2015, 05:26:12 pm »
Bts2.0will be used as a foundation to the decentralized dns .. hence if you want a username that has less than 8 chars .. you will nees to pay an extra fee .. how much is defined by stakeholders

It can be less than 8 characters if no vowels or at least 1 number.
We might need a price list with some examples here ..

I'll let the community propose prices for different lengths of names.

I propose free.

Since it sounds like a lot of these proposal fees are to fund a slush account that will eventually work it way into the wallets of the few holders who own a large stake of BTS.

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #12 on: June 10, 2015, 05:32:17 pm »
@newmine: you want us to be a nonprofitable company that gets killed by  ddos?
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Offline Ander

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #13 on: June 10, 2015, 05:32:37 pm »
I propose free.

Since it sounds like a lot of these proposal fees are to fund a slush account that will eventually work it way into the wallets of the few holders who own a large stake of BTS.

You know nothing Jon Snow newmine.

When you give away DNS names for free, what happens is that squatters register every possible useful name as fast as they can, and then they do nothing with them.  See Namecoin, and everyone else that has tried this.


Also fees generated by selling names are profit for the BTS DAC, which benefits all BTS holders.  The eventual goal is to make BTS profitable.
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Offline NewMine

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #14 on: June 10, 2015, 08:23:05 pm »
@newmine: you want us to be a nonprofitable company that gets killed by  ddos?

How do I profit?

Honestly I don't know how I profit other than selling my shares for more money than I paid for them.

Offline NewMine

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #15 on: June 10, 2015, 08:32:01 pm »
I propose free.

Since it sounds like a lot of these proposal fees are to fund a slush account that will eventually work it way into the wallets of the few holders who own a large stake of BTS.

You know nothing Jon Snow newmine.

When you give away DNS names for free, what happens is that squatters register every possible useful name as fast as they can, and then they do nothing with them.  See Namecoin, and everyone else that has tried this.


Also fees generated by selling names are profit for the BTS DAC, which benefits all BTS holders.  The eventual goal is to make BTS profitable.
You can't get rid of squatters. They will still be there, they are just going to spend more money on fees and I don't like where those fees are ending up. We have a shit ton of 100% and maybe 10 of them are producing shit. The rest are just piling up shares for free.

Offline maqifrnswa

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #16 on: June 10, 2015, 08:53:48 pm »
@newmine: you want us to be a nonprofitable company that gets killed by  ddos?

How do I profit?

Honestly I don't know how I profit other than selling my shares for more money than I paid for them.

Yes... that is how you profit...

The question you should be asking is "why are my shares more valuable now than the were before?" The reason: someone paid a fee for a service the blockchain provided. That fee goes to pay workers first, and if any is left over, that's the equivalent of a share buy-back.

What happens to the value of an asset during a share buy back? They increase in value, which leads us to:
How do I profit?

Honestly I don't know how I profit other than selling my shares for more money than I paid for them.
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Offline Ander

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #17 on: June 10, 2015, 09:29:01 pm »
You can't get rid of squatters. They will still be there, they are just going to spend more money on fees and I don't like where those fees are ending up. We have a shit ton of 100% and maybe 10 of them are producing shit. The rest are just piling up shares for free.

Squatters paying fees is far better than not paying fees. 

You are annoyed because you think the money is going to undeserving paid delegates?
Money (BTS) is going to those paid delegates (now 'workers') no matter what, if they get voted in.  Be annoyed at some of them you feel are not producing if you want, but it has nothing to do with fees for names. 


Money (BTS) going to workers is coming out of the reserve fund at a rate that shareholders vote on. 
Money (BTS) is going back into the reserve from from general circulation based on fees collected.


We want money going into the reserve fund to be as high as possible!  This is revenue for the DAC.
We want money going out of the reserve fund to workers to be as intelligently allocated as possible.  Only funding workers that add more value than they cost.

If you are annoyed at some of the workers taking money, then launch a campaign to get them voted out, or the pay allocated to workers reduced!  But you shouldnt want revenue to go down.  The more revenue we get, the less inflation.  (Or if revenue exceeds worker payments, we get deflation, which means actual profits to holders!   profitable DAC!)

Reducing revenue doesnt mean workers dont get paid, it means they are getting paid from our (BTS holders) pockets.  We would prefer them to be paid from fees, of course! 
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Offline mdj

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #18 on: June 10, 2015, 11:30:23 pm »
what i don't get - with 0.20 Dollar each transaction every basic user - micropayment is dead!


I agree, 20c is wayyy too high. Especially considering it's currently 0.1BTS??
The fees will thankfully be adjustable by delegate consensus so hopefully the majority of delegates see sense :)

I love everything about Bitshares 2.0 except for the referral scheme. I think $80 is just too much of a cost per user and decreasing fees 10 fold would be more appropriate. Nobody is going to rant about a 2c fee.

EDIT: I saw that the fee is also paid by the receiver so that also improves things a little. In the case of micropayments this would be factored into the price but I agree it wouldn't work for really tiny payments.
I also think trading on the internal exchange would need to be fee free/very small fees.
« Last Edit: June 10, 2015, 11:32:42 pm by mdj »

Offline lil_jay890

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #19 on: June 10, 2015, 11:45:57 pm »
I love the way we will be differentiating ourselves from the rest of the crypto world... Let others fight over micro payment scraps as we go after the big fish

Offline Ander

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Re: why people is going to pay for bitshares 2.0 wallet ?
« Reply #20 on: June 11, 2015, 12:00:20 am »
I think we should work on micropayment support eventually, but it doesn't need to be in the first release. 
Charging X% on payments under $0.YY value would make make the most sense).

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