I'm jumping late in here but I've been talking to the dev and want to sum of what I told him:
We charge for swaps and renames for 2 reasons...
1) its very time intensive to do these renames/swaps. For better or worse, that is how the system is designed. Its purposefully difficult to change anything in the system that messes with audit ability.
2) for a while we had people "rescuing" old coins and "rebranding" them for nefarious purpose. The fee was implemented to slow that down.
We implemented a policy that any renames/swaps would incur a fee. I just had to charge the LIMX folks for the same thing today, and thats after they paid for a spotlight to get listed.
For me to waive anything would be unfair to the other coins that we have forced to do this. The best i can do is reduce the fee to 1.5 ... If you choose not to go that route, I'll be happy to close the market and let people withdraw and we will re-evaluate the re-listing of XVG after we close down DOGED.
thanks
richie@bittrex
I'm sure Poloniex would make the right decision here. Is Bittrex seriously making a
fairness argument when DOGED takes in so much in fees? Bittrex, ever heard of "Don't bite the hand that feeds you"? Bittrex just lost a customer if they don't waive this fee. Spend those funds on hosting DogedDev!
I kind of thought the same thing. How dare they do that. Especially since the volume is high now. Doged (Verge) is really starting to take off, and they are making a ton in fee's. That was until I did the math.
Lets use the latest 20 BTC volume a day. 20 * .0025 = .05 BTC * 410 USD = $20.5 a day. And that's with the latest volume.
Would you take on all of the risks and headaches running an exchange for $20 a day?
The reason behind their charge to make a change is to weed out the groups out there that are looking to make quick money on PnD scams -- the implementation of the fee deters scammers and shitcoin makers from posting their false coins on this exchange. I'd rather them charge us and know that there are hopefully less Scamcoins on trex.
DOGED has obviously been weeded already and blossomed into a fully-grown mature female sativa. Otherwise they would have kept the introduction fee in place when DOGED was a seedling. Since the reason for the fee is risk, and since they know it's not a scamcoin their risk is zero. Likewise the fee should be zero.
I am actually O.K. with a reasonable fee.
The requested change came from our end, initiating more work for the exchange.
We need the exchanges to be able to run profitably for the benefit of everybody here also, since we need them like they need us.
You guys made the donation happen quickly (before I even found out about it) which shows some awesome support.
Looking forward to good things happening with Verge.
Since there was a fee though, hopefully Bittrex can expedite the name change.
