Worker Proposal Review

[lzr1900]

and dump to the poor market?
NO!!!!!

[mindphlux]

The proposal reads specifically:

Because this is a matter of appearance, transfer fees will be adjusted to be paid by the receiver of the funds, rather than the sender.

This would indicate the sender pays nothing and the receiver pays the fee. The discount is for RECEIVING transactions then, not SENDING transactions, if I may interpret that.

[monsterer]

Receive a discount on receiving transactions and receive a discount for trading.

Surely that should read: 'receive a discount on sending' transactions?

[tonyk]

What is the discount for trading for a lifetime member?

80% discount on all trading fees and 80% discount on receiving transactions.

You seem pretty certain in those statement, but I did not see a change proposed as to who is paying the fees .In particular of who's life membership status the discount depends on.
I.e I do believe it will continue to depend on the senders LT membership to get a discount on that transaction.

Clarification from the proposers will be appreciated.

[kuro112]

Am I the only one here who actually read the costs?

can some one explain to me how its going to cost 16 thousand dollars to adjust pre existing code?

seriously id like a breakdown of why it will take 8000$ in man hours to adjust the fee code, no ones writing a large amount of new code, its an adjustment to a pre-existing system...

the same goes for market fees ?


16 thousand to plug in kyc and deposit / withdrawal ? seriously?

is anyone buying these numbers?

not trying to be a naysayer, i think all this work needs to be done, but for 3x what it actually costs in man hours and expertise? nah bro.


please provide us a breakdown of how the hours will be allocated and why they will add up to 32 thousand dollars for the features i think will take a fraction of the time and work...?

[mindphlux]

What is the discount for trading for a lifetime member?

80% discount on all trading fees and 80% discount on receiving transactions.

[GaltReport]

and what is the incentive for a regular user to go lifetime?

Receive a discount on receiving transactions and receive a discount for trading.
There's no incentive for the normal user to go lifetime, but there is a HUGE incentive for the merchant to go lifetime, I would guess that more than 50% of all merchants would appreciate a 2-3 cent fee instead of 10+ cents for a $80 one-time fee. Huge opportunity IMHO.

What is the discount for trading for a lifetime member?

[Akado]

That number 4 

[mindphlux]

and what is the incentive for a regular user to go lifetime?

Receive a discount on receiving transactions and receive a discount for trading.
There's no incentive for the normal user to go lifetime, but there is a HUGE incentive for the merchant to go lifetime, I would guess that more than 50% of all merchants would appreciate a 2-3 cent fee instead of 10+ cents for a $80 one-time fee. Huge opportunity IMHO.

[fav]

and what is the incentive for a regular user to go lifetime?

[Ben Mason]

This all sounds good.  I like the KYC integration.  What is the timeframe for this?

The doc says 2 months.  This is superb.....very thorough and I like the arrangement with Bunker.

The doc says the pay will come from the network over 2 months. However, they may not be able to deliver within that time frame. Take into account Christmas season coming up etc. However, we are not going to pay them on anything until QC and delivery is done in full on each worker. So they are motivated to turn it out as quick as they can.

Ahh ok, sorry for the misunderstanding, you are quite right.  Besides, i'm all for increased time if it means increased quality.

[fav]

ecause this is a matter of appearance, transfer fees will be adjusted to be paid by the receiver of the funds, rather than the sender.

so someone can flood some 0.1 BTS txs and I have to pay whatever fee is currently setup? how can I refuse transactions as a receiver?

[BunkerChainLabs-DataSecurityNode]

This all sounds good.  I like the KYC integration.  What is the timeframe for this?

The doc says 2 months.  This is superb.....very thorough and I like the arrangement with Bunker.

The doc says the pay will come from the network over 2 months. However, they may not be able to deliver within that time frame. Take into account Christmas season coming up etc. However, we are not going to pay them on anything until QC and delivery is done in full on each worker. So they are motivated to turn it out as quick as they can.

[mindphlux]

Please specifiy if I'm correct understanding this:

The document states:

Specifically, some businesses building on top of BitShares as a payment network (rather than exchange) depend upon transfer fees to generate their revenue.   Because this is a matter of appearance, transfer fees will be adjusted to be paid by the receiver of the funds, rather than the sender.  This means merchants will see the fees (which will be much less than credit cards) but users will not.

This is a very important aspect. Does this mean that the users have free transactions now, and the registrar and referrer must essentially enroll merchants to get a decent profit, instead of just using users. The profit a wallet provider/referral makes is directly proportional to the amount of merchants enrolled.

Did I understand this correctly?

[mint chocolate chip]

The tasks above will be structured as 5 independent worker proposals for total of 3.5M BTS each for a combined total of 21M BTS.

Get out that calculator. The one worker proposal is nearly doubly expensive, so maybe it is supposed to be 4 at 3.5 million plus one at 7 million.