Author Topic: Will this community be surpporting BM's "zero fee" proposal to get micropayment?  (Read 31704 times)

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Offline bytemaster

All I have to say is that the white paper I am producing on this is mind blowing...

I have never seen anything more universally agreed upon by forum members... 60:5 is HUGE! 

The fact that no one thinks a blockchain can be implemented without fees.... is proof of innovation! 
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Offline EstefanTT

I can't wait to read somewhere on the net in the next weeks/month our first article explaining how we manage to make the first real time blockchain free of transaction fees ... it will change our (greedy) image A LOT and we will make peace with the chinese community.

I'm all for it ! This is a genius idea !

It will be hilarious because everyone will immediately say "There's no such thing as zero fees blockchain". Only thing I'm curious about is the price, even though this is something that again, places us ahead of the rest, alt for example and I'm sure other members too, will not approve anything that creates dilution.
Lol, you're right !

After "3 sec blocks ... must be centralised"

We will have "free Tx ... must be a scam"
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Offline Akado

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I can't wait to read somewhere on the net in the next weeks/month our first article explaining how we manage to make the first real time blockchain free of transaction fees ... it will change our (greedy) image A LOT and we will make peace with the chinese community.

I'm all for it ! This is a genius idea !

It will be hilarious because everyone will immediately say "There's no such thing as zero fees blockchain". Only thing I'm curious about is the price, even though this is something that again, places us ahead of the rest, alt for example and I'm sure other members too, will not approve anything that creates dilution.
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Offline EstefanTT

I can't wait to read somewhere on the net in the next weeks/month our first article explaining how we manage to make the first real time blockchain free of transaction fees ... it will change our (greedy) image A LOT and we will make peace with the chinese community.

I'm all for it ! This is a genius idea !
Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline Pheonike


A big reason for the fees (besides making money for the network) was to stop people from spamming the network. With this solution spamming is not an issue so setting fees can now focused on user experience and features. Charging fees for things users want to do instead of have to do.

Offline Akado

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So this seems something that both sides of the fee argument are okay with?
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Offline openledger

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Offline Shentist

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i like the idea and i think if this works like expected it would be great.

and it would not really hurt the referral program. If the transactions are picking up, more people are in need to transfer and pay. the pay is still in place. But if we have capacity it will be zero. great :D

Offline BunkerChainLabs-DataSecurityNode


By making basic transfers free, It makes the benefits of LTM/AM a lot simpler and clearer. Reducing and/or eliminated certain for membership is easy for users to understand.  With the combination of percentage based fees the network could make a lot more.

Haha.. try saying this two weeks ago! :D
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TravelsAsia

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One of the major benefits of basing this off of stake is that it prevents sybils.  If you create 10000 empty accounts you wont be able to them to get free transactions since they all have 0 stake.  If you spread your stake out to these 10000 accounts then you will get the same amount of free transfers that you would get from all of your stake being in one account.

  +5%

+5%

Offline Pheonike


By making basic transfers free, It makes the benefits of LTM/AM a lot simpler and clearer. Reducing and/or eliminated certain for membership is easy for users to understand.  With the combination of percentage based fees the network could make a lot more.

Offline fuzzy

ok... I believe we all see, that majority of community likes this idea. What should be done next to turn this idea into reality? Worker proposal?

I am very much for doing this...but I think we need to TEST it by making it this way for only a small period of time (perhaps 3 months?)  to try it and see its effects.  We can offer it for a limited window of time and couple it with something like a "buy one get two free" for accounts during this period to help offset the lower fees.  If they both work together to bring in more income, while also incentivizing the use of lifetime membership accounts...the ltm's might actually far outweigh the value lost from trading fees. 

This also gives people who buy ltm's a good reason to consider sharing it (or selling it) to someone else.  This opens up the market for people to want to start grabbing named wallets (at a significant cost) and selling them or finding other profitable ways to get them into the hands of others.
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Offline Bhuz

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ok... I believe we all see, that majority of community likes this idea. What should be done next to turn this idea into reality? Worker proposal?

I think bytemaster would need some times to really figure out all the details.
I would really like if those details were defined also with community input.

Once the details are figured out, cnx should have an estimation about cost and time needed.

Offline noisy

ok... I believe we all see, that majority of community likes this idea. What should be done next to turn this idea into reality? Worker proposal?
Take a look on: https://bitsharestalk.org/index.php/topic,19625.msg251894.html - I have a crazy idea - lets convince cryptonomex developers to use livecoding.tv

Offline BunkerChainLabs-DataSecurityNode

IMO we need to find the money to implement this.  This would be best with a worker proposal paid direct from the shareholders.  If they are unwilling to spend the money of such a massive upgrade then we should fund it with an FBA.  How would this FBA make money?  Perhaps on transactions that are above and beyond the rate limit a portion goes to the FBA.

An FBA like that would be very difficult to justify unless there was some kinda of other revenue model.
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