Lowering Transfer Fees

[roadscape]

Are we able to vote for different transfer fees PER bitasset? So USD can stay on the expensive side... CNY can be cheaper, etc. Whatever makes sense for each currency/country-demographic.

It would give us an easy way to have region-based pricing.. a must-have strategy for competitive pricing globally

[roadscape]

I would set fees very low at this time. (transfer and market orders)    As a sort of introductory rate.  No sense in generating "high fee" press at this point.

As the price of BTS rises, the $ rate on fees will rise without doing or changing anything.

As the $ price of fees approaches the ideal rate (~$0.20) begin lowering the fee (in terms of BTS) to maintain this.

I think its important to reach as many people as possible right now, and fees should be so small as to not even be a factor.  If you're selling the idea of lifetime member to someone the % savings is still the same and the idea of slowly reaching a target of 20 cents can be communicated.

Tending to agree.. if we set the transfer fee to $0.05 now, all we'd have to do is lower it when market cap goes over 40M to maintain ~$0.20.

[void]

I agree with this logic

transfer fee should be low,  so that a casual user can transfer any amount, incl. micro-transactions, for a very low fixed fee.  (otherwise we're not showing that DPOS is the most cost effective technology - i.e., low fee without any hidden inflation due to a POW/etc. scheme.)

exchange fee can be higher -  provides incentive for lifetime membership & target market of professional traders

[Empirical1.2]

  Sounds good.

Being competitive with BTC for transfers and competitive with centralized exchanges for trading sounds like a good starting strategy.

(I believe people are willing to pay more for larger transfers up to a point, so a percentage based system could increase profitability & the success of the referral programme particularly in US/Western Europe. It's also how trading fees are calculated on most exchanges. So it would be good to have some time in the future.)

Premium UIA and account names are where we can experiment with high fees at the early stages imo. They are also 'limited' so if we undercharge now we lose that opportunity for good.  So I would consider making those very high to start.

[Xeldal]

I would set fees very low at this time. (transfer and market orders)    As a sort of introductory rate.  No sense in generating "high fee" press at this point.

As the price of BTS rises, the $ rate on fees will rise without doing or changing anything.

As the $ price of fees approaches the ideal rate (~$0.20) begin lowering the fee (in terms of BTS) to maintain this.

I think its important to reach as many people as possible right now, and fees should be so small as to not even be a factor.  If you're selling the idea of lifetime member to someone the % savings is still the same and the idea of slowly reaching a target of 20 cents can be communicated.

[clayop]

IMO transfer fee of BTS can be high. However, the transfer fee of Smartcoins should be low. Is it possible?

[Shentist]

the point is - we are not sure where we will find our userbase. So to make the hurdle so high for not so "rich" people it will
not bring them to us.

would it possible to say

a transaction with value <= 1000 BTS you have to pay say 5 BTS
if it is higher the normal transaction fee will be applied

so for the userbase say in Argentina, most of the users has not the need to make lifetimemembership account, but still can use our network. This will not hinder the referral idea.

[mindphlux]

I would not lower it to 5 BTS, 10 BTS should be the minimum, that is 4 cents. Very reasonable IMHO.

[fav]

not needed in my opinion. that's why we got Lifetime Memberships

[bytemaster]

It seems like there is a lot of debate around the transfer fees and this debate is both good and bad.

I expect transfers to make up a relatively small part of BTS transaction types.  The vast majority of the fees will be paid in the market as people place orders.

Rather than having negative PR of "high fees" we can offer Transfers at a lower fee, while maintaining the higher fees for everything else. 

If the transfer fee for normal users is equal to the BTC transfer fee then we cannot be accused of having "high fees".

If we lower the transfer fee from 40 BTS to 5 BTS then transfers will cost the same as bitcoin.   We can keep blind transfers at a higher price and keep market orders at 10 BTS.

It is just a question of asking ourselves what business are we in.    If we are in the exchange business then transfers can be nearly free because we make our money on exchanges.   

Having something that is "cheap" allows us to advertize  "lowest transfer fees of any crypto-currency".   

Thoughts?