UIA Fee? (SOLCERTS)

[xeroc]

You'll have to forgive me 

Sure!

I'm still a tad bit confused @xeroc So I have included the current selling orders we plan to put up for this first auction. Here they are:

.50bts @ 45,000 SOLCERTS each
.75bts @ 45,000 SOLCERTS each
1.00bts @ 450,000 SOLCERTS each
1.05bts @ 450,000 SOLCERTS each
1.25bts @ 2,000,000 SOLCERTS each
2.00bts @500,000 SOLCERTS each
2.50bts @ 1,000,000 SOLCERTS each
3.00bts @ 500,000 SOLCERTS each
5.00bts @ 1,000,000 SOLCERTS each
10.00bts @ 500,000 SOLCERTS each
15.00bts @500,000 SOLCERTS each
20.00bts @500,000 SOLCERTS each
25.00bts @500,000 SOLCERTS each
30.00bts @500,000 SOLCERTS each
50.00bts @500,000 SOLCERTS each

Now in order for all these transactions to actually transact a BTS fee has to be paid on both sides of the transaction? So for example if a bunch of people bought 45,000 SoLCerts at .5BTS a piece we would both have to pay a BTS fee for that transaction? If it is the case that yes we do. Then are you saying the blockchain will look to take that fee from the issuers fee pool? For instance my fee pool?

There is order_create fee that both parties, seller and buyer need to
pay. It is currently 0.0011 USD for basic members and  0.00023 USD for
life time members. (http://cryptofresh.com/fees?asset=USD)

You can pay the fee either in BTS or in your SOLCERTS asset. In the
latter case, the fee paid will be implicitly exchanged in to BTS using
the assets fee pool. The network allows you to exchang SOLCERTS into BTS
*at* the core exchange rate which the issuer can define in the asset
settings.

And further more if the fee pool has no funds then the blockchain will instead look to charge me in SOLCERTS? Am I reading that correctly? Let me know

you will never be charged for actions taken by users.
If the fee pool is empty, then then noone can pay fees in
SOLCERTS, but must use BTS (or any other asset with funded fee pool) to
pay the fee.

The whole fee pool is just a convenience for the users to not require
BTS to pay fees and depending on what core exchange rate you as the
issuer set, you can encourage people to use SOLCERTS to pay the fee
(make it cheaper for them, but then the fee pool will drain faster) ..
or make it more expensive for them then they might not want to use those
tokens to pay the fee and instead by BTS.

I know this all may seem basic to you all but I'm learning here. I learn fast but have to ask the dumb questions to become an expert. Bare with me. Thanks

There is no such thing as a dumb question

[SolomonSollarsNSense]

You'll have to forgive me 

I'm still a tad bit confused @xeroc So I have included the current selling orders we plan to put up for this first auction. Here they are:

.50bts @ 45,000 SOLCERTS each
.75bts @ 45,000 SOLCERTS each
1.00bts @ 450,000 SOLCERTS each
1.05bts @ 450,000 SOLCERTS each
1.25bts @ 2,000,000 SOLCERTS each
2.00bts @500,000 SOLCERTS each
2.50bts @ 1,000,000 SOLCERTS each
3.00bts @ 500,000 SOLCERTS each
5.00bts @ 1,000,000 SOLCERTS each
10.00bts @ 500,000 SOLCERTS each
15.00bts @500,000 SOLCERTS each
20.00bts @500,000 SOLCERTS each
25.00bts @500,000 SOLCERTS each
30.00bts @500,000 SOLCERTS each
50.00bts @500,000 SOLCERTS each

Now in order for all these transactions to actually transact a BTS fee has to be paid on both sides of the transaction? So for example if a bunch of people bought 45,000 SoLCerts at .5BTS a piece we would both have to pay a BTS fee for that transaction? If it is the case that yes we do. Then are you saying the blockchain will look to take that fee from the issuers fee pool? For instance my fee pool?

And further more if the fee pool has no funds then the blockchain will instead look to charge me in SOLCERTS? Am I reading that correctly? Let me know

@DestBest I put up our current plans for sell orders so you could have an actual working example. Now that you see it what is the recommendation for CER?

I know this all may seem basic to you all but I'm learning here. I learn fast but have to ask the dumb questions to become an expert. Bare with me. Thanks

[xeroc]

http://docs.bitshares.eu/bitshares/user/assets-faq.html#fee-pool

[DestBest]

DestBest,

Thanks for the reply! My pleasure

Yes the almost 23,000 SOLCERT fee is certainly waaay too high. I guess I am still a little confused as how to calculate bringing it down. I see CER option in the asset type.

So do I have to fund the pool?
If fee pool is empty, BitShares can't convert SOCERT to BTS to pay for fees. tldr: Yes

So that the blockchain charges me in BTS and not SOLCERTS?
Do you want trade/transaction in SOLCERT to charge fees as BTS instead of SOLCERT? Is that your question ? I don't know, will call the great xeroc

Or do I have to change the "Quote Asset Amount" compared to the "Base Asset Amount"?

Your current CER is        1 SOLCERT : 0.0001 BTS

CER should be a little greater than the price of your asset, else people will buy your asset in order to pay fees with it, emptying your fee pool.

Let's say price is 10 BTS/SOLCERT, you need to put your CER to      1 SOLCERT : 10.1 BTS

tldr: Yes

Let me know. Thanks!

Invoking @xeroc

[SolomonSollarsNSense]

You need to adjust the Core Exchange Rate (CER) of your asset, 23380SOLCERT is way too much imho.

The CER is the rate at which SOLCERT are exchanged for BTS (in the fee pool) in order to pay the fees to the blockchain (in BTS) when you do a transfer or put up an order.

You need to keep your fee pool filled with BTS and you can withdraw SOLCERT (fees) from the fee pool.

DestBest,

Thanks for the reply! Yes the almost 23,000 SOLCERT fee is certainly waaay too high. I guess I am still a little confused as how to calculate bringing it down. I see CER option in the asset type. So do I have to fund the pool? So that the blockchain charges me in BTS and not SOLCERTS? Or do I have to change the "Quote Asset Amount" compared to the "Base Asset Amount"? Let me know. Thanks!

[DestBest]

You need to adjust the Core Exchange Rate (CER) of your asset, 23380SOLCERT is way too much imho.

The CER is the rate at which SOLCERT are exchanged for BTS (in the fee pool) in order to pay the fees to the blockchain (in BTS) when you do a transfer or put up an order.

You need to keep your fee pool filled with BTS and you can withdraw SOLCERT (fees) from the fee pool.

[yvv]

http://cryptofresh.com/fees

[SolomonSollarsNSense]

Ok I see. Thanks Shentist. Is this fee for every transaction that takes place? Or is just a general fee for putting up sell orders? Like if I, trying to buy 1000 SoLCerts whats is my fee going to be like the picture shows 23380?

[Shentist]

for placing orders you have to pay a fee to prevent spam.

if you chancel the order you will get most back, if your transaction is executed the network keeps the fees.

[SolomonSollarsNSense]

I'm starting to put up the market for SoLCerts and I was wondering why there is a fee to sell them? Can this be altered or is that just what comes with putting up the market? Also who does the fee go to? I'll put up a screen shot of what I'm seeing when I post a sell order. Any information on what is going on will be useful. Thanks!: