Author Topic: [poll] BTS repurchase destruction proposal  (Read 6044 times)

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Offline matle85

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Re: [poll] BTS repurchase destruction proposal
« Reply #15 on: June 14, 2019, 03:45:28 pm »
I am keen to hear novel proposals and welcome the suggestion but I think I agree with Bitcrab that the effect would not be significant considering the spend. I think I would need to see some charts / graphs explaining the return is higher than I currently foresee it to be before supporting.

Like I said though, thank you for bringing this forward and hope to hear more novel / new thinking suggestions from people on how to increase the price.

Offline bitProfessor

Re: [poll] BTS repurchase destruction proposal
« Reply #16 on: June 14, 2019, 05:30:03 pm »
This is not a personal point of view, but more than 70m votes behind cn-vote, so I try to explain:
1、The number of repurchases is very small, the speed is very slow, the period is long-term.why?That means giving up the sudden rise pirce.The  key point is:“Send a message to the world”.
2、I personally agree with bitcrab's proposal.But to discuss with the voters of cn-vote。I don't think there is any conflict between the two proposals.I heard that eggs should not be put in one basket.
3、In bts, destroying BTS means returning to the pool of funds。It's not burnt.As Bitcrab said, 300,000 BTS are released every day, and BTS destroyed  are used to replenish the pool.Is that not good?
4、Let's take a look at bnb:(The second column is the number of destruction.)

I don't think the amount of destruction of BNB is positively correlated with the price, but it has changed people's expectations and people are scrambling to hold it.
5、To be honest, I don't know whether our proposal will change the price of BTS or what people expect. But I know it's a proposal that doesn't do any harm.
Summary: Send a message to the world:“Hey, BTS are burning every week. Aren't you going to hold a little?”



Offline binggo

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Re: [poll] BTS repurchase destruction proposal
« Reply #17 on: June 15, 2019, 12:20:39 am »
你又何必跟他们解释这么多。

整体的营销思维都脱节与时代,他们能懂什么,风口,热点一个都蹭不上。

现在都在趁着bitcny还有点流量多吸一口血而已,你这岂不是打断了好事?!等bitCNY血吸干就会一窝蜂的消散的。

你看看他们又准备将手续费提高到0.1%, 何必这么遮遮掩掩,直接提高到10%多好。
« Last Edit: June 15, 2019, 12:27:04 am by binggo »

Offline ripplexiaoshan

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Re: [poll] BTS repurchase destruction proposal
« Reply #18 on: June 15, 2019, 04:50:08 am »
I do not support this proposal.

comparing to the daily BTS release via worker proposal budget, the market fee accumulation is so few that can be ignored and will not generate obvious effect.

I prefer to set smartcoins 100% market fee sharing, I believe this will greatly encourage users to become lifetime member and invite more users to come to BTS ecosystem.

this is a much better way to use the smartcoin market fee than "buy back BTS and burn".

Agree on that
Sounds like a good suggestion. It can be done at the same time. The two plans do not conflict.

Agree, we can do both at the same time.
BTS committee member:jademont

Offline bench

Re: [poll] BTS repurchase destruction proposal
« Reply #19 on: June 15, 2019, 10:03:11 am »
I do not support this proposal.

comparing to the daily BTS release via worker proposal budget, the market fee accumulation is so few that can be ignored and will not generate obvious effect.

I prefer to set smartcoins 100% market fee sharing, I believe this will greatly encourage users to become lifetime member and invite more users to come to BTS ecosystem.

this is a much better way to use the smartcoin market fee than "buy back BTS and burn".

Agree on that
Sounds like a good suggestion. It can be done at the same time. The two plans do not conflict.

Agree, we can do both at the same time.

If we do a 100% fee sharing we can't do both.

If we do a 80% fee sharing, with a fee increase to 0.1%, we can do both.
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Offline bitcrab

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Re: [poll] BTS repurchase destruction proposal
« Reply #20 on: June 15, 2019, 10:19:13 am »

it's a good idea to set 80% market fee sharing and reset market fee to 0.1% for smartcoins, irrelevant to make both possible.

then lifetime members actually just pay 0.02% market fee,but will get 0.08% reward from his basic member referee's trading.

it will greatly encourage users to become lifetime member and invite new users.

不是传销,胜似传销。


Offline matle85

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Re: [poll] BTS repurchase destruction proposal
« Reply #21 on: June 16, 2019, 09:44:34 am »

it's a good idea to set 80% market fee sharing and reset market fee to 0.1% for smartcoins, irrelevant to make both possible.

then lifetime members actually just pay 0.02% market fee,but will get 0.08% reward from his basic member referee's trading.

it will greatly encourage users to become lifetime member and invite new users.

不是传销,胜似传销。

I agree this is a good idea.

I think this also will bring some big benefit for leveraged trading as well (when we introduce that) as the fee will be based on the leveraged amount (i.e. people inviting people who then carry out leveraged trades will have even more significant gains)

Offline bench

Re: [poll] BTS repurchase destruction proposal
« Reply #22 on: June 16, 2019, 12:02:43 pm »
We should discuss here about the use of the 0.02% bitAsset market fee:

1. Start a buy back of BTS
2. Build a GS fund to allow lower MCR

Discussion about market fee sharing here: https://bitsharestalk.org/index.php?topic=28517.0
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Offline finn-bts

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Re: [poll] BTS repurchase destruction proposal
« Reply #23 on: June 17, 2019, 02:43:26 am »
Support buy-backs. I'll vote for you

Offline BunkerChainLabs-DataSecurityNode

Re: [poll] BTS repurchase destruction proposal
« Reply #24 on: June 17, 2019, 02:23:50 pm »

it's a good idea to set 80% market fee sharing and reset market fee to 0.1% for smartcoins, irrelevant to make both possible.

then lifetime members actually just pay 0.02% market fee,but will get 0.08% reward from his basic member referee's trading.

it will greatly encourage users to become lifetime member and invite new users.

不是传销,胜似传销。

It's a model which has proven effective on other platforms... so yes it would be good if we could offer this.
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Offline sschiessl

Re: [poll] BTS repurchase destruction proposal
« Reply #25 on: June 18, 2019, 05:02:19 am »
If active, will you be the one marketing the burns?

Offline matle85

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Re: [poll] BTS repurchase destruction proposal
« Reply #26 on: June 18, 2019, 09:24:48 am »
Current fee pool balance on bitCNY is 762,321.9948 bitCNY - does anyone know how long this has taken to build up? I thought accumulation rate was quite slow but maybe it is higher than I thought

Offline bench

Re: [poll] BTS repurchase destruction proposal
« Reply #27 on: June 19, 2019, 02:16:00 pm »
Destruction means sending BTS back to the reserve pool?
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Offline xeroc

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Re: [poll] BTS repurchase destruction proposal
« Reply #28 on: June 24, 2019, 01:34:05 pm »
I am not even sure I understand the proposal.
For me, the accumulated fees have *always* been owned by the community and "profits" should be shared with BTS holders.
The only way to do that is for the accumulated to be sold for BTS in the markets. So the worker only makes something explicit that was implicitly agreed upon (IMHO)
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Re: [poll] BTS repurchase destruction proposal
« Reply #29 on: June 25, 2019, 02:24:56 pm »
I see three related workers (1.14.200, 1.14.201, 1.14.202), the latter two apparently being discussed in chinese in https://bitsharestalk.org/index.php?topic=28524.0 . Can someone explain the differences?
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