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RE: BitShares Hangout #46 | 2017-11-11 | Sat @200PM UTC | OpenSource Agenda [Beyondbit Payouts Powered by SP!]

in #eos-project4 years ago

When dealing with banks and brokers, people always complain about being "nickeled and dimed" all over the place, something people generally hate and try to avoid at all cost.

We're always talking about ways to attract more people over to bitshares, yet I can say that originally one of the first things that turned me away was the long list of various "fees" charged by the bitshares DEX, some of which apply in ways many of us still don't even realize.

For example, do people realize if you go LTM (Life-Time Member), you even have an additional 24.3 BTS fee "Vesting balance withdraw" just to "claim" your "rewards"?! Granted, as a LTM, this is reduced to 4.9 BTS, but why are people being charged 24.3 BTS, 19.4 BTS of which will recursively reapply back to the same "Vesting balance withdraw" you're actually trying to "collect" from?

Furthermore, it would be interesting to see how many LTMs even collect enough in a year to make it worth clicking the "Vesting balance withdraw" button.

Or another example, why is there a "worker proposal" fee? Wouldn't that merely serve as a tax against the work that one is trying to reward?

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Also, why the convoluted fees and process to acquire a "premium user name"? I mean, even for people who want to "buy" a premium name, it's a chore... Take the following BitSharesTalk Topic: "Catch 22: How do you create a premium name".

Some might argue fees are small, but they also fluctuate wildly esp. as bts prices increase, and there's a potentially long delay before fee adjustments (LTM was nearly US$500 at one point). But what's the "purpose" of some of these fees, except to "extract" more money from users. It's certainly not about "bandwidth" or anything, but I do believe it's another impediment to increased adoption.

If I wanted to get hit up by wacky round-about fees left right and center, I could always go hang out at the DMV or some other government office in the real world!