Author Topic: poll for the "1 BTS for transfer" proposal  (Read 47445 times)

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Offline tbone

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before BTS2, the fee is 0.1 BTS, it runs good, so security or cost is not a good reason to object 1BTS fee

Are you serious?  And you're a witness?  Wow.

Offline Akado

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as I know OL is an exchange based on bts chain, a industry level trade experiences and plenty of users and liquidity. the propaganda we made to the exchange is based on this. if only a refreral system can bring users that's not our orignial goal, just if, and I don't see the actual real users number support this. what we need is to attract users, current high fees prevent a lot of crypto people join into bts, don't tell me I'm wrong, I'm in chinese QQ group and a lot of users complain this. they have no incentive to promote our prodcut, I'm very disappointed about this, maybe you guys don't mind this, you think these people are only speculators, but I think these people just what currently we need.

Then could you ask on the QQ group what's the highest fee they would be willing to pay please? 1 seems to low to some. would you ask if they would consider a bit more? I dont know, 10, 8, 7, 5?

Maybe we can reach a middle term where everyone's happy or just opt by the percentage based fees, which seems to best method so far, seems to make everyone relatively happy.
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Offline Ben Mason

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If you are proposing to reduce fee to the level below what a transaction actually costs, you need to compensate the difference out of your pocket. This would be a nice promotion for bitshares.

what's the exact cost of 1 transfer? can you tell me exactly?

BM said in recent mumble session that in order to cover costs and prevent spam, the minimum fee should be $.005-.01.  You can't advance a serious proposal without knowing this number.  Also, it doesn't make sense to talk about fees in terms of BTS considering its volatility. 

I would urge you to consider the percentage-based fee (with USD or CNY max/min) as this can meet the varied goals (reduces fees but not too dramatically, covers network costs, spam deterrence, and enables micro-transactions).  Yes, there is a dilution cost, but it's not substantial and I do believe @abit agreed to have the payments vest.  Finally, what do you think of a possible compromise where the max fee can potentially be set lower for CNY than USD?

I really hope we can get this behind us very soon.  As @JonnyBitcoin has been urging, we really need to get on with the business of improving liquidity for BitAssets and it would be great if we could all put our heads together for the common good.
This

In addition, the full picture in figures in detail would be more objective than those currently being put forward bitcrab....assuming we can't reach tbone's compromise.

Offline alt

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before BTS2, the fee is 0.1 BTS, it runs good, so security or cost is not a good reason to object 1BTS fee
« Last Edit: January 28, 2016, 05:08:11 pm by alt »

Offline tbone

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If you are proposing to reduce fee to the level below what a transaction actually costs, you need to compensate the difference out of your pocket. This would be a nice promotion for bitshares.

what's the exact cost of 1 transfer? can you tell me exactly?

BM said in recent mumble session that in order to cover costs and prevent spam, the minimum fee should be $.005-.01.  You can't advance a serious proposal without knowing this number.  Also, it doesn't make sense to talk about fees in terms of BTS considering its volatility. 

I would urge you to consider the percentage-based fee (with USD or CNY max/min) as this can meet the varied goals (reduces fees but not too dramatically, covers network costs, spam deterrence, and enables micro-transactions).  Yes, there is a dilution cost, but it's not substantial and I do believe @abit agreed to have the payments vest.  Finally, what do you think of a possible compromise where the max fee can potentially be set lower for CNY than USD?

I really hope we can get this behind us very soon.  As @JonnyBitcoin has been urging, we really need to get on with the business of improving liquidity for BitAssets and it would be great if we could all put our heads together for the common good.

Offline BunkerChainLabs-DataSecurityNode

If you are proposing to reduce fee to the level below what a transaction actually costs, you need to compensate the difference out of your pocket. This would be a nice promotion for bitshares.

what's the exact cost of 1 transfer? can you tell me exactly?
suppose we have 1tps volume, we'll support at least 864000(30*24*60*20) transactions per month
we have 25 witness, each witness need a vps cost 20USD/month
the cost is 25*20/864000 = 0.000578703 USD = 0.15 BTS

Those numbers are wrong. This is blatant manipulation of facts.

This means cutting witness pay by a factor of more than 7 and reducing their ability to support the network and leaving no reason for them to continue maintaining it. We would also have to stop publishing bitasset feeds. There goes all our Smartcoins.

This will effectively make Witnesses subject to collusion by whom ever will pay them the difference to do the work to maintain the network.

This is utterly a plan for the entire disassembly of DPOS and the destruction of Bitshares DEX.

Wow.. this is what you and bitcrab want and you both are on the Committee meant to protect Bitshares?

Let the Bitshares holders decide with their votes for Committee members accordingly if they think this is in the best interests of Bitshares.
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Offline bitcrab

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You stated your point well.

My concern with removing the incentive for the referral program, is that its just going to cause more of this "bitshares is always changing the rules" talk.  wouldn't that hurt us more than finding a solution that keeps the referral program in tact?  Abit has stated that he would accept the majority of his payment as vesting for 6 months or 1 year.

Thanks for the clear communication on this bitcrab.

thanks puppies.
if the change is greatly agreed by the community, then that's not a problem.
I plan to just reduce the transfer fee to 1 BTS, without touching others.
I have stated that I am ok to pay 3M BTS to a worker proposal, the precondition is that I believe the proposal will lead to a consequence which is satisfactory enough.
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Offline wallace

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If you are proposing to reduce fee to the level below what a transaction actually costs, you need to compensate the difference out of your pocket. This would be a nice promotion for bitshares.

what's the exact cost of 1 transfer? can you tell me exactly?
suppose we have 1tps volume, we'll support at least 864000(30*24*60*20) transactions per month
we have 25 witness, each witness need a vps cost 20USD/month
the cost is 25*20/864000 = 0.000578703 USD = 0.15 BTS
2592000(30*24*60*60)
we have 25 witness, each witness need a vps cost 20USD/month
the cost is 25*20/2592000= 0.000019 USD = 0.05 BTS

I think alt means 1 block 1 transaction, not 1 min 1 transaction
give me money, I will do...

Offline BTSdac

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If you are proposing to reduce fee to the level below what a transaction actually costs, you need to compensate the difference out of your pocket. This would be a nice promotion for bitshares.

what's the exact cost of 1 transfer? can you tell me exactly?
suppose we have 1tps volume, we'll support at least 864000(30*24*60*20) transactions per month
we have 25 witness, each witness need a vps cost 20USD/month
the cost is 25*20/864000 = 0.000578703 USD = 0.15 BTS
2592000(30*24*60*60)
we have 25 witness, each witness need a vps cost 20USD/month
the cost is 25*20/2592000= 0.000019 USD = 0.05 BTS
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Offline alt

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@bitcrab please remove your personal infomation, you have right of privacy.

Offline alt

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If you are proposing to reduce fee to the level below what a transaction actually costs, you need to compensate the difference out of your pocket. This would be a nice promotion for bitshares.

what's the exact cost of 1 transfer? can you tell me exactly?
suppose we have 1tps volume, we'll support at least 864000(30*24*60*20) transactions per month
we have 25 witness, each witness need a vps cost 20USD/month
the cost is 25*20/864000 = 0.000578703 USD = 0.15 BTS

Offline yvv

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If you are proposing to reduce fee to the level below what a transaction actually costs, you need to compensate the difference out of your pocket. This would be a nice promotion for bitshares.

what's the exact cost of 1 transfer? can you tell me exactly?

I have no idea, but somebody else on this forum claimed it to be $0.005-$0.01. I think, this should not be difficult to verify.

Offline bitcrab

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If you are proposing to reduce fee to the level below what a transaction actually costs, you need to compensate the difference out of your pocket. This would be a nice promotion for bitshares.

what's the exact cost of 1 transfer? can you tell me exactly?
Email:bitcrab@qq.com

Offline yvv

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If you are proposing to reduce fee to the level below what a transaction actually costs, you should compensate the difference out of your pocket. This would be a nice promotion for bitshares.
« Last Edit: January 28, 2016, 04:31:25 pm by yvv »

Offline JonnyB

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Can we just take this to voting and get done with it please? I think we need @kenCode , @ccedk, @JonnyBitcoin and @monsterer / @Shentist  to tell us if they agree/disagree with this and the impact it would have to their businesses so everyone gets enlightened. Wasn't Metaexchange thinking about the possibility to migrate to BitShares? How would this affect you?

Then finally vote and get this done with. We have already lost too many time to this kind of discussions instead of addressing other important matters.

If we only dedicated so much time to find new ways to provide liquidity instead of insisting on this matter, I'm sure we would already have figured something out. Instead, we're constantly beating the same stuff over and over again..

@Akado  Totally agree with you here, we waste too much time on little things like this, I think fees are fine how they are now. 
We really need to prioritise what are the most important things (liquidity)
I'm always bringing it up but nothing ever gets done. Can't the committee just sell the trade fees in to the market. that would be a start.
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