fee reduction for P2P transactions.

[fav]

http://cryptofresh.com/p/1.10.7232

hi fav,  has the changes been approved as it does not show anymore on cryptofresh?

there's a new one, should go through on tuesday. as always, keep an eye on your wallet, there are the current fees

[victor.F]

http://cryptofresh.com/p/1.10.7232

hi fav,  has the changes been approved as it does not show anymore on cryptofresh?

[R]

http://cryptofresh.com/fees

Let's make a list of changes to the fee schedule and get it pushed out by the committee.

@Customminer that is a great idea however we need to find a dev and create a BSIP.  @pc any chance you are looking for additional BSIP work?

Created an issue on the BSIP repo regarding this idea: https://github.com/bitshares/bsips/issues/48

[fav]

http://cryptofresh.com/p/1.10.7232

[Brekyrself]

http://cryptofresh.com/fees

Let's make a list of changes to the fee schedule and get it pushed out by the committee.


@Customminer that is a great idea however we need to find a dev and create a BSIP.  @pc any chance you are looking for additional BSIP work?

[R]

is there is any way to guarantee that fees will be what is already agreed, and will be adjusted in short periods, while bts goes up in value??

https://bitsharestalk.org/index.php/topic,21368.0.html .

or what will need to be done to so fees are always the same and do not fluctuate with bts. ?

If we could peg fees to bitUSD, we could set the fees once and they would auto-adjust. This would require development though, but I think it's important given the lack of committee fee schedule updates.

[victor.F]

is there is any way to guarantee that fees will be what is already agreed, and will be adjusted in short periods, while bts goes up in value??

https://bitsharestalk.org/index.php/topic,21368.0.html .

or what will need to be done to so fees are always the same and do not fluctuate with bts. ?

[fav]

create vesting balance, LTM, and tx fees need to be lowered. I've yet to see any public discussion from ANY of the committee members but me https://bitsharestalk.org/index.php/topic,25541.0.html

[Ravid]

hi Ravid

the 2 cent per transaction is ok, but the fees that are for basic transfer are  .21 bts which is   10 cents.   10 cents on a 1 dls transaction is 10%. 
when you say the fees are the same for everyone, I am confused,  as I made a p2p and got .21bts  fee. 

the question is: how do I get the 2 cent fee without being the lifetime member???

and my company is trying to bring volume and make my clients buy a lot of bitshares as collateral for the pegged asset, and i think that is good for the bitshares community.

As pc have told you before, the current fee is high due to the surge of BTS price. When the current rate was set, the BTS price was around $0.15 I think, now it is at $0.7.
 It doesn't have anything to do with the LTM, you need not worry. The current fee needs to be adjusted to accomodate the current price, that's all. I think it's the comittee's job to do that and pc have tagged a few of them (fav, xeroc, abit and bitcrab) to take care of that.
 As I said, the transaction fees are the means for survival for the bitshares network and they are the same for everyone, so I don't think that you could create a single asset that would override the fee logic.

 What you are trying to do is great and we welcome your business on our platform, especially when you are trying to help real people in the real world.

Just wait for the fee rate adjustment by the comittee and you'll get the 2 cent fee!

[victor.F]

hi Ravid

the 2 cent per transaction is ok, but the fees that are for basic transfer are  .21 bts which is   10 cents.   10 cents on a 1 dls transaction is 10%. 
when you say the fees are the same for everyone, I am confused,  as I made a p2p and got .21bts  fee. 

the question is: how do I get the 2 cent fee without being the lifetime member???

and my company is trying to bring volume and make my clients buy a lot of bitshares as collateral for the pegged asset, and i think that is good for the bitshares community.

[Ravid]

As far as I know, the fees are the same for everyone, LTMs are just getting 80% of them back as a bonus.

The fees are needed to refill the development fund for the platform - Bitshares is a DAC, no one is financing it, so it needs to be self sustainable. So people using it for free kind of beats the purpose.

I figure that if you think that using the platform for free will get your clients to use other services and generate revenue for you, you as a company could pay their transaction fees for them.

It is NOT a "go screw yourself" answer, don't take it the wrong way. It's just for Bitshares those fees are the means for survival and for a regular person 2 cents per transaction is a minor inconvenience.

[victor.F]

Pc, thank you response.

the  US$0.02 could work initially . and once I prove sufficient volume and considerable bitshares locked in collateral, I could make a more solid argument to the community to lower it more.

there is only one BIG ISSUE.  that fee is for lifetime members,  all users for bitMEX will be basic members  with standard fee as they will not be traders

is there any way we could consider a  US$0.02 for basic members for P2P transfers?  it could be only for my "bitMEX" pegged asset if that is even possible.

[pc]

A long time ago we decided that transfers should cost around US-$0.02 (plus US-$0.01 per kilobyte, to avoid memo spamming). At the current exchange rate that would be about .03 BTS.

See https://bitsharestalk.org/index.php/topic,21368.0.html .

@fav @xeroc @abit @bitcrab can you adjust the fees wrt current BTS price?

[victor.F]

Hi, bitshares community, I would like to propose a fee reduction from P2P transactions on the network,  currently is at .21bts for NON-members.
The reason: we are a financial institution in Mexico (www.bitpeso.mx), and are looking to create a pegged asset (bitmex) similar to HERO. we have the capacity to make it to mass adoption with our retail network. As well as good support from our current client base and community.   
In order to be able to use bitshares for day to day transactions, we need a very low fee for P2P transactions, something like .001 bts.
Why will it be beneficial to the bitshares community?
We think that these new clients that will be using the network for free ( .001), will use other services as trading services to change its bitmex to other assets on the network.
As discussed on the telegram group, bitshares is designed to be a trading platform and not a transaction platform,  but with the bandwidth capacity you have, I would say it won't hurt and could bring a lot of benefits.