Can we collect 6 Bitcoins to add to bittrex? It should be 29 people willing to donate 0.2 Bitcoin.
It's 3 BTC, much cheaper and I'm down for that. I have some spare BTC and CON to put towards it, I can donate 0.2 BTC for it and we can also see if we can gather some CON as a small sale at a slightly higher rate over the market price? Would be good to also be able to give the potential ROI.
On a side note, there is also a few updates I would like to finish off before we get on Bittrex, specifically a revision of the minimum fee.
I've been thinking about increasing the minimum fee to 0.02-0.05 CON and the reason for that is to make it comparatively expensive to send a lot of transactions and all fees go to Stakers so it would also increase the rewards for holders. If we get on Bittrex then we can also sign up for Hamuki's Multipool service and so then every time Coins have been POW mined, sent to the exchange, traded for CON and paid out to miners, that would add to both to the buy pressure and the POS rewards. If for example the fee was 0.05 Coins, that sounds expensive but you can already Stake with 500 CON or less and to Stake 30 Coins when you might only spend 0.5 Coins at most if you just have 10 Blocks to combine (plus they combine and split for free when you Stake anyways) so even to Stake once you would gain more Coins than the minimum Fee but also may Stake a few extra Coins of other peoples Fees.
Now I have also been thinking about the high end of it, what if CON was worth $5 a Coin, and the fee were 0.05 CON that would mean that each transaction would cost 25 cents to send, but also since there are approximately 43,200 new Coins a day being Staked, that would also mean that there is $220,000 in sell pressure from holders every day, and if it were also that big and worth that much, then the transactions fees alone would probably add another $100-150k worth of Coins in sell pressure so there would probably be an upper limit to how much each Coin could ever be worth.
At what point do you guys think the Fees would also match the sell pressure in that Fees can also be a good source of income without limiting the ability to trade? I'm thinking that 0.02-0.05 Coins would be ok and even 0.05 Coins wouldn't be terribly restrictive, worst case would be if you had a large amount and were combining 2000 Blocks to send to an exchange well you might pay 100 Coins but you were probably also generating some 2-3K CON a day anyways.
Would like to get a bit of discussion going on improvement of the Fees, please post your thoughts