From 00e673050c6b341f9df8a1b6ebf1f176c755b416 Mon Sep 17 00:00:00 2001 From: Fabian Schuh Date: Mon, 28 Dec 2015 09:56:28 +0100 Subject: [PATCH] bsip#8: cli-wallet transfer fees and the fee split in discussion --- bsip-0008.md | 21 +++++++++++++++++---- 1 file changed, 17 insertions(+), 4 deletions(-) diff --git a/bsip-0008.md b/bsip-0008.md index 405f117..eff014b 100644 --- a/bsip-0008.md +++ b/bsip-0008.md @@ -109,7 +109,7 @@ at zero cost to BitShares shareholders. Mode feature available to users. 7. The Initialization Package shall make provision for the creation of generic Fee Based Assets (FBA) and set the fee for such - 8. A GUI shall be provided in the OpenLedger and Light wallets to allow + 8. A GUI shall be provided in the Web and Light wallets to allow ordinary users to easily use the Privacy Mode features. 9. Documentation of the Privacy Mode feature and Maintenance and Fee Accumulation account shall be provided on the appropriate reference web @@ -173,8 +173,8 @@ When the project is complete, the new software will be presented to the witnesses as an opportunity to hard fork by switching to running the new package/software. At that time witnesses will face a choice: -1. Honor the proposal at the time the decision to spend the private investor's money was made, or -2. Honor the proposal at the time the product is delivered (if it has changed in the mean time). +1. Honor the proposal at the time the decision to spend the private investor's money was made, or +2. Honor the proposal at the time the product is delivered (if it has changed in the mean time). Acting against the wishes of Vote 2 could get them fired if enough people disagree with them keeping the implied commitment of Vote 1. @@ -196,7 +196,20 @@ be. The argument was raised that the Privacy Mode as proposed here is not the feature most pressingly needed for BitShares right now. -## Worker Poll Interval too Short +## Confidential Transfers already available in the CLI-Wallet + +The privacy mode is already documented and available for use in the console-line +wallet client at almost the same fee as non-private transfers (December 2015). +However, since these transfers cannot participate in the Referral Program (see +above), all fees are paid to the BitShares network. This proposal, shall it be +implemented, splits the fee for private transactions 20%/80% (similar to regular +transfers with the referral program) and hands out 20% of the fee to the +BitShares network. The other 80% are given to the maintenance account and +holders of the FBA. As a result, for BitShares shareholders to keep their 20% +transaction fee, the other 80% need to be paid by the customer. However, the fee +for this type of transaction is only increased to 3x and not the required 5x. +The assumptions are that the increase in volume for this particular transaction +type and the additional customers compensate for this loss. # Copyright