[DAC] Possible financial focus for the next few months

[pc]

Currently the network need to pay out 43k BTS to witnesses and 80k BTS to workers every day, but average daily income is only 8k BTS or so, among it about 900 come from transfers, 6k come from account upgrades. If we decrease transfer fee for LTM from 6 BTS to 1 BTS, it means we need at least 6x volume to keep same revenue. If we decrease account upgrade fee to 0, it means we need 54x transfer volume to keep same revenue.

Thanks!

So this poll boils down to do we accept 119kBTS dilution per day instead of the current 115?
I think this doesn't make much of a difference. If these 4kBTS/day attract more users I'm all for it.

[fuzzy]

I can say that @fav says the current referral system is not making him enough to be worth it.  Though I am unsure how the other tokens he works with are, that is another discussion.  I am glad he brought this up, however, because it brings us to the question of how much more can all the businesses being currently built like --- OpenLedger.info (Obits), Sharebits.io (Sharebits), OPENPOS...etc, that rely on these fees to reward those who donated to their cause, if we make it more difficult for them. 

I am actually wondering why we don't go with something like 50/50 where referrers get more. And before people begin thinking I am saying this because of my involvement with sharebits, I want you to consider how much competition businesses like ours would receive coming in from the crypto ecosystem if the referral rewards went significantly higher. 

I mean there are multiple ways to skin a cat of course, but I personally think it is another angle worth discussing. 

[abit]

Can we have some numbers? How many fees were collected in the past [week, month, since 2.0], how much was spent on witnesses + workers in the same time?

Currently the network need to pay out 43k BTS to witnesses and 80k BTS to workers every day, but average daily income is only 8k BTS or so, among it about 900 come from transfers, 6k come from account upgrades. If we decrease transfer fee for LTM from 6 BTS to 1 BTS, it means we need at least 6x volume to keep same revenue. If we decrease account upgrade fee to 0, it means we need 54x transfer volume to keep same revenue.

[xeroc]

Can we have some numbers? How many fees were collected in the past [week, month, since 2.0], how much was spent on witnesses + workers in the same time?

I am working on those .. will need more time

[pc]

Can we have some numbers? How many fees were collected in the past [week, month, since 2.0], how much was spent on witnesses + workers in the same time?

[jakub]

Also, would you consider changing the second option in the poll to this:

No, keep it at 80%

This way it's directly comparable with the first option (and also less confusing).

[Bhuz]

I just want to point out that a shift from 20/80 to 10/90 for the referral system, really means a cut of 50% on network revenues.

[xeroc]

Even though I am not yet an official member of the committee yet, there is quite some discussion about how to achieve several goals at the same time concerning the fee schedule.
I would like to seek input from the broader community.

See this as an input thread - no decisions have been made - the results may or may not be incorporated in a feed schedule!

The thoughts currently are, if we should reduce the 20% cut from fees and give it to the referral business instead.

Advantages:
 - This will give a 10% extra for the referral business and will make it easier for most to accept a reduced transfer fee.
 - This might bring in a shitload of users because we could possible be way cheaper than competition
 - We would see our network run on higher transactions throughput
 - transaction fees could be reduced by more than just 10% because the referral business profits from many other operations aswell

Drawbacks:
 - The drawback of course is that we reduce the DACs revenue from transaction fees by 10%.
 - The offer should be timely limited by at least 6 and maybe at most 12 months (IMHO)
 - STEALTH (in order to reach ROI) will have require more than just 3x transfer fees

@onceuponatime
@ccedk
@BunkerChain Labs
@bitcrab
@kenCode


Would an additional 10% in the referral program be motivation enough for you to continue your efforts on the BTS blockchain even though the transfer fee is reduced?

@shareholders / @all

Would the shareholders agree with a 10%50% cut in transaction fees given that we can potentially draw more attention with
a) higher marketing benefits
b) lower transfers fees to draw more customers and volatility