also this helps to protect against domain squatting. thats a really big deal since the person who acquires a domain is the monopoly provider meaning he has the leverage to charge outrageous prices as soon as he knows that someone wants it. if we didnt put a price on it than people would go crazy and reserve every domain imaginable and anyone who wanted to issue an asset would have to pay CRAZY prices. The net effect of making asset registration cheap would be that getting the asset you wanted would be orders of magnitude more expensive than if there was simply a cost for registering to begin with.
*edit* incidentally i really like the idea of having tiers of asset classes. that gives us the best of both worlds.
You're looking at a squatter here. Neither proud nor ashamed to admit it. Ok, maybe a little bit of shame, but I'll take that up with a future therapist if NXT ever goes lunar.
I'm not sure if there are different 'types' of squatters. I've squatted aliases because 1) I see an opportunity and 2) I really have no other feasible way of expanding my NXT hodlings. None of my aliases were registered until after Dec 25, and some of the ones available were amazing.
How long have we been talking about Auroracoin? I registered AUR this morning. Squatting? Or people walking past a metaphorical bag of cash on a street corner? I'm asking this sincerely because I have mixed feelings about registering things I have no plans to personally use. With that said, on anything I have no plans to use, I'd never ransom them for exorbitant fees, or would simply give them away.
I'm torn on the AE fee of 1 vs. 1000. A fee of 1000 will stop people like me from issuing an asset; on the other hand, it will stop people like me from issuing an asset.
It will definitely limit the number of assets I will issue (I hodl about 7900 NXT).
Having a fee of 1000 won't stop squatting. Mitigate, but not stop.
The fear, I think, is the people who are squatting will control assets to further their self-interest vs. that of the community/ecosystem. Hopefully, people that do sit on an asset/alias will realize that the strength of Nxt is in their self-interest and act accordingly.
i never blame people for responding rationally to incentives. if assets were free to register i would probably register as many as i could as well, while still disagreeing with the general premise. its just another example of the tragedy of the commons. my interest is not in blaming people for being rationally self interested, but in crafting an incentive structure where rational self interest leads to outcomes that maximize utility.
But you are addressing the problem in a way that restricts utility. If the AE is to be a free market, there should be no restrictions or constraints imposed on it other than the ones necessary for its safe and secure functionality.
If you are worried that if making the fees so low that it is going to cause a problem with the number of issued asset making the AE a clusterfuck, I suggest that you plan on it being a clusterfuck anyway; because if it is truly successful that is what is going to be. Charging 1000 NXT issue fees isn't going to stop that.
The AE is a beautiful thing, symbolically, but it can't be considered to be a finished product as is. All of the reasons that I have seen for the fee for issuing assets being set at 1000 NXT are all things that could be and should be sighted as functionality issues with the AE, and if looked at this way are only problems that CAN be solved with out implementing any constraints to the free market.
The secure functionality of the AE is all we should concern ourselves with.
Trust me im a huge free market guy so you are preaching to the choir here. But if you will just leave those preconceptions behind think through the argument here.
Free markets work really well in competitive environments. That is the closer to perfect competition we have in a market the better the outcomes. Domain name registration is a unique case of what we might think of as a perfect monopoly. Its literally the exact opposite of perfect competition.
It's not about clusterfucking that i am worried. Its about people sweeping up every domain available , starting with AAAAAA through ZZZZZZ as quickly as they can inorder to be the monopolistic provider of the domain that someone else demands later. From their monopoly position they can charge outrageous rates. Its the competition that makes free markets work well, people cant charge outrageous prices because competitors will undercut them. But there can be no competing provider of a single domain name so that wonderful aspect of free markets breaks down in this particular unique case.
