Let's Lower Trading Fee

[fav]

Transaction fees for the BTS native currency are the #1 main problem above all else.  The fees should be done with the assumption that nobody pays membership fee since everyone not on this forum thinks it's an awful scammy idea and will just boycott the system unless referrals have no or little effect on how the platform operates.  Going from 5 to 20 bts is a 400% markup to subsidize the referral system, therefore the referral system is holding the entire platform hostage.  It's clinically insane to subsidize it that much.  5-30% maybe, 400% hell no.  I do not want to ever pay a membership fee and nobody else does in the outside world either.  All it does is bring negative feelings to the entire platform.

you're aggressively trying to sell your opinion as majority. however, you need to proof it.

where are discussions about our "scammy membership" program?

ps. don't bother to answer if you get your education from trollboxes

[bitcrab]

The trading fe is about 5 US cents atm which NO trader cares about! Traders have 0.1 % upwards on the volume of their trades (roughly) on centralized exchanges. On the other side these fees can be a substantial income stream to fund development.

Do you pay the fee on centralised exchanges like BTC38/Polo even if your order isn't filled?
I haven't paid attention.

no fee if the order is not filled for centralized exchanges, definitely.

[bitacer]

Currently trading fee is 10 BTS for each order and 0 for cancellation. It is obviously lower than transfer fee, only 1/4 of it. However, I want to argue for lowering trading fee for several reasons.

First, we can attract more users from centralized exchanges. "Almost zero fee" can be a good catch phrase. Our most important product is the exchange platform and we need to advertise it. Luring new users with lower fees first, considering a profit then (Just curious, how many BTS are reduced from trading?)

Second, lowering trading fees can lead to much frequent orders. Unlike transfer, people are more likely to do order when the fee is low. That is, lowering trading

Third, most importantly, we need market makers. In the centralized exchanges, they place orders several thousands times a day or even more, because the exchanges do not charge for "unfilled" orders (but we do). 10 BTS per filled order is not that bad. But for every unfilled order is horrible.


Lowering trading fees can be a temporary option, like only 3 months. When we have enough user base, then we can calculate the real numbers.

Developing world will be the first to adopt this technology . You need to be appealing to the unbanked  for mass adoption . Start by replacing western union and trading will follow. Transfer fees should be minimal.

[r0ach]

Transaction fees for the BTS native currency are the #1 main problem above all else.  The fees should be done with the assumption that nobody pays membership fee since everyone not on this forum thinks it's an awful scammy idea and will just boycott the system unless referrals have no or little effect on how the platform operates.  Going from 5 to 20 bts is a 400% markup to subsidize the referral system, therefore the referral system is holding the entire platform hostage.  It's clinically insane to subsidize it that much.  5-30% maybe, 400% hell no.  I do not want to ever pay a membership fee and nobody else does in the outside world either.  All it does is bring negative feelings to the entire platform.

[bitcrab]

Currently trading fee is 10 BTS for each order and 0 for cancellation. It is obviously lower than transfer fee, only 1/4 of it. However, I want to argue for lowering trading fee for several reasons.

First, we can attract more users from centralized exchanges. "Almost zero fee" can be a good catch phrase. Our most important product is the exchange platform and we need to advertise it. Luring new users with lower fees first, considering a profit then (Just curious, how many BTS are reduced from trading?)

Second, lowering trading fees can lead to much frequent orders. Unlike transfer, people are more likely to do order when the fee is low. That is, lowering trading

Third, most importantly, we need market makers. In the centralized exchanges, they place orders several thousands times a day or even more, because the exchanges do not charge for "unfilled" orders (but we do). 10 BTS per filled order is not that bad. But for every unfilled order is horrible.


Lowering trading fees can be a temporary option, like only 3 months. When we have enough user base, then we can calculate the real numbers.

to make the market maker feel comfortable is important, as for an exchange, good liquidity is more important than lower fee for attracting users, we can see many proof, yunbi is free, btc38 charge 0.1%, poloniex charge more, but how about their volume?
 
IMO, for common member the trade fee can be 5BTS, it's OK, but for lifetime membership, the trading fee should be as low as possible. if all the orders will be charged, it would be better to keep the trading fee 0.1BTS, no higher than 1BTS anyway.

[Empirical1.2]

The trading fe is about 5 US cents atm which NO trader cares about! Traders have 0.1 % upwards on the volume of their trades (roughly) on centralized exchanges. On the other side these fees can be a substantial income stream to fund development.

Do you pay the fee on centralised exchanges like BTC38/Polo even if your order isn't filled?
I haven't paid attention.

[clayop]

The trading fe is about 5 US cents atm which NO trader cares about! Traders have 0.1 % upwards on the volume of their trades (roughly) on centralized exchanges. On the other side these fees can be a substantial income stream to fund development.

Plus there is the subjective perception that things only have value if the cost something.

So it is clear to me that lowering fees, especially trading fees, has more cons than pros.

5 cents for "filled order" is reasonable. But for "unfilled order" seems expensive. As a trader, I care about the fee...

[santaclause102]

The trading fe is about 5 US cents atm which NO trader cares about! Traders have 0.1 % upwards on the volume of their trades (roughly) on centralized exchanges. On the other side these fees can be a substantial income stream to fund development.

Plus there is the subjective perception that things only have value if the cost something.

So it is clear to me that lowering fees, especially trading fees, has more cons than pros.

[clayop]

Make it 0, so that we can claim 0 trading fee which is good advertisement.

Setting orders don't need spam protection.

It shouldn't be 0. We still need spam protection. I would like to say 1 BTS (for non-lifetime members)

Why do you need spam protection if someone is putting up an order? The more orders being put up the better. Instead the client can enforce a min order amount.

I may need to set and cancel 10 times depending on market conditions before executing a trade, especially as there is no action there.

Big exchahges had started with 0 fees to get volume. Somehow BTS expects it will win by making it expensive and having no users.

I can tell since I did spamming on the testnet with market order transactions. If we set it 0, some evil player intentionally do fake orders 1000 time a second to ruin the network.

[habeler]

Make it 0, so that we can claim 0 trading fee which is good advertisement.

Setting orders don't need spam protection.

It shouldn't be 0. We still need spam protection. I would like to say 1 BTS (for non-lifetime members)

Why do you need spam protection if someone is putting up an order? The more orders being put up the better. Instead the client can enforce a min order amount.

I may need to set and cancel 10 times depending on market conditions before executing a trade, especially as there is no action there.

Big exchahges had started with 0 fees to get volume. Somehow BTS expects it will win by making it expensive and having no users.

[clayop]

Make it 0, so that we can claim 0 trading fee which is good advertisement.

Setting orders don't need spam protection.

It shouldn't be 0. We still need spam protection. I would like to say 1 BTS (for non-lifetime members)

[habeler]

Make it 0, so that we can claim 0 trading fee which is good advertisement.

Setting orders don't need spam protection.

[clayop]

Currently trading fee is 10 BTS for each order and 0 for cancellation. It is obviously lower than transfer fee, only 1/4 of it. However, I want to argue for lowering trading fee for several reasons.

First, we can attract more users from centralized exchanges. "Almost zero fee" can be a good catch phrase. Our most important product is the exchange platform and we need to advertise it. Luring new users with lower fees first, considering a profit then (Just curious, how many BTS are reduced from trading?)

Second, lowering trading fees can lead to much frequent orders. Unlike transfer, people are more likely to do order when the fee is low. That is, lowering trading

Third, most importantly, we need market makers. In the centralized exchanges, they place orders several thousands times a day or even more, because the exchanges do not charge for "unfilled" orders (but we do). 10 BTS per filled order is not that bad. But for every unfilled order is horrible.


Lowering trading fees can be a temporary option, like only 3 months. When we have enough user base, then we can calculate the real numbers.