The main reason for 1.4% NXT withdrawal fee is that we have lost a total of approx. 800 000 NXT during the processing of 11000+ deposits and 7000+ payouts within the month in the unstable NXT network and experimental API, plus our own software in the quick time to market and extremely risky circumstances.
If you think that's too much of a loss, you should have attempted to run the whole show yourself. There ALWAYS are losses in realtime payment processing. They need to be budgeted.
Yet at the same time, we have not complained but have enabled for the community 10000% value increase for their NXT, and through operating nextcoin.org and dgex.com have been a crucial factor in the expansion of NXT adoption.
Now, with the 800 000 NXT deficit, how would you suggest we recover that if not as fees from those who have benefited from us making live trading available in the first place (the customers)? Any suggestions are welcome!
Fees cover the facilities, and they cover the risks. We deal with it, and so should our customers.
So the main reason for the additional fees is a loss. I understand this is not the goal of a business. You provided a service and earned revenue from it (fees, ask-bid margin and other trading engine profits, forging, possible other sources of profit I'm not aware of since I don't run an exchange
) But those profits are OK and fair I suppose, since everybody assumes they are there. But incurring an inexpected loss should not be a reason or an excuse to become unfair to your customers.
You ask for any suggestions. It's possible to give one. But first some thoughts about your comments and arguments:
First, regarding your loss: You have the database with all the accounts and all the transactions. With some additional effort it should be possible to show, explain or even prove what caused your losses.
Nevertheless, together with your first message about your loss, you quickly give a few uncertain indications about possible causes of your loss(es):
- "unstable NXT network" OK. Who is responsible for that? Not the dgex customers IMO. On the contrary. Since all of them probably ran an NRS that helped to stabilize the network.
- "experimental API" OK. Who is responsible for that? Not the dgex customers IMO.
- "our own software" OK. Who is responsible for that? Your FAQ claims "We have more than a decade's experience in combatting e-currency hackers of a wide variety, and two years' intensive experience of the Bitcoin tricksters." Your customers probably trusted you. Should they be punished?
- "quick time to market" OK. But your FAQ also mentions "DGEX started by trading Freicoin", so I suppose you've used the software before Nxt started in November, right. And who forced you to come quickly to the market. That was your own decision, not one of your customers.
- "extremely risky circumstances" OK. If your customers added risk, you should try everything to identify those instead of blaming and charging everybody.
Second, regarding your logic to recover these losses:
- "have enabled for the community 10000% value increase". Not all your customers have benefited from this value increase. Yes, the early adopters (73 owners/founders/stakeholders and other). And they might have been gone from your exchange already @ 0 fee. I'm even sure some of your current customers are losing money.
- "as fees from those who have benefited from us" OK. But as already indicated, the group of dgex users who have benefited and the group of all customers @ the time of the increased fee announcement are two groups that are not the same.
- "Fees cover the facilities, and they cover the risks. We deal with it, and so should our customers." OK. I understand you're mad about the loss. But you can only expect your customers to deal with it the way you propose if your terms are announced upfront. Now you have suddenly a lot of customers who feel themselves imprisoned and they clearly don't like it. And as a business, you should try to keep your customers happy or satisfied I suppose. Unless ... That's up to you.
Your solution of increasing fees for all customers is a quick and easy one. But not the right one as I'm sure you understand. I hope you also care, as I think you do, because you remain a visitor of the forum.
So, finally, my suggestion: Please provide more info about the possible causes of your loss(es). I'm sure the community (including the large holders) can help to come up with proper and fair solutions.
I hope you can put in the extra effort to come up with that extra info and you will reconsider your fee structure after proper alternatives to recover your loss(es)
