Author Topic: How much do Bitshares, witnesses, wallets earn?  (Read 3216 times)

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Offline eng

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From what I've seen this link. https://cryptofresh.com/assets

Last 24h volume of top Openledger's UIAs;
OPEN.BTC:$303,554
OPEN.ETH:$39,353   
OPEN.MUSE:$13,486
OPEN.USDT:$13,344
SUM:$369,736
All of these market fee are 0.2%
Daily profit is 0.002 * $369,736 = $739
Monthly is = $22,170


There is also a profit source from a difference of exchange rate between fee pool and market.
For example, OPEN.BTC's exchange rate at fee pool is 0.000016 OPEN.BTC/BTS
And exchange rate at market is about 0.000052 OPEN.BTC/BTS
Current fee of place order is 0.01213 BTS = $0.0015769
So profit from one trade is
(0.000052/0.000016) * $0.0015769 = $0.005124925
And from what I've seen trade history, there are about 80 matched orders in 1 hour.
So daily profit from difference of exchange rate at OPEN.BTC:BTS is
80 * 24 * $0.005124925 = $9.839856
Monthly is $295
And other markets are not so big, so I don't calculate.


I think, there is also profit source of invitation of members.
Does anybody know how large is it?

If it's not so big, I think monthly profit of Openledger is $25,000 ~ $40,000, of course it's very volatile.
« Last Edit: July 11, 2017, 06:23:47 pm by eng »

Offline CastAway33

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Witnesses are currently severely overpaid, due to the increase of BTS price. I think the committee should reduce witness pay (again) in the near future.

Alfredo receives 1600 USD per week for 40 hours of work, see his proposal: https://bitsharestalk.org/index.php/topic,23698.msg307996.html#msg307996 . If the worker receives more than that, it will be returned to the reserves.

Workers from before May this year were paid significantly more in terms of BTS, because BTS was much lower back then.
It's reasons like this that I started the thread Vote Proposal, Dynamic Fee System. As I understand it, everything in the bitshares ecosystem is essentially paid out of transaction fees. If the transaction fees are pegged in price, then everything there after should be forced to be pegged accordingly. I would be for worker fees be pegged, witness fees be pegged, all network expenses be pegged. Pegged to bitUSD, bitCNY, or possibly a basket of bitAssets.

Currently everything is being paid in BTS.
If someone becomes a worker at the wrong time, then they could end up severely underpaid, which is not good for them.
If someone becomes a worker at the right time, then they could end up severely overpaid, which is not good for the share holders.
I believe that pegging resolves these issues in a fair way.
« Last Edit: July 10, 2017, 05:39:26 pm by CastAway33 »

Offline pc

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Witnesses are currently severely overpaid, due to the increase of BTS price. I think the committee should reduce witness pay (again) in the near future.

Alfredo receives 1600 USD per week for 40 hours of work, see his proposal: https://bitsharestalk.org/index.php/topic,23698.msg307996.html#msg307996 . If the worker receives more than that, it will be returned to the reserves.

Workers from before May this year were paid significantly more in terms of BTS, because BTS was much lower back then.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline eng

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So witness budget is 1,199BTS per hour and current number of active witnesses is 25.
We put 1BTS = 0.17USD, a witness daily profit can be estimated as 1,199 * 24hour / 25 = 1,151BTS = 195USD
And server cost must not be high because high performance isn't needed.


As I see the link, may be currently we have 5 worker as 4 team and 1 person.
The person Alfredo get payed daily 8,961BTS = 1,523USD ( Maybe when this worker proposal was approved, BTS was much cheaper)
And other teams are get payed 10,000BTS ~ 2,000,000BTS = 1,700USD ~ 340,000USD


How about other services?
I want to know profit of openledger.
If it's profitable I want to start similar service.
« Last Edit: July 09, 2017, 10:17:20 am by eng »

Offline Brekyrself

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Most of this info can be found on a block explorer such as cryptofresh.com

http://cryptofresh.com/reserve

Workers:  Xerox developed a new way to pay workers by having the end amount in BitUSD for example instead of bts/day.  This way if there are major price swings over the course of a workers contract, no one can complain.
http://cryptofresh.com/workers

Offline CastAway33

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I don't know where these things could be looked up. It should be public knowledge

Offline eng

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And how much workers are get payed averagely?

Offline eng

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Can anybody estimate profit of these services by using public information like daily volume?