[bisq-network/proposals] Increase trading fee (#99)
notifications at github.com
Tue Jul 2 17:42:16 UTC 2019
We can discuss all we want and come up with rationalizations, but we know from experience that traders we know don't care about our technical and ideological reasons.
In the wake of the LBC changes, word is that most traders we know in Thailand for example are moving to Paxful of all things. :( They don't even want to deal with learning browser-based HoblHobl, much less Bisq.
The position we hear is pragmatic: Bisq has no trader reputation system, legacy mining fees, no mobile app, a slow, unusual, complicated, expensive, trading protocol, no liquidity in most fiat markets, and so on.
Most traders or even crypto users just don't care about privacy and decentralization, or even understand why anyone does.
Many if not most trade from their phone most of the time.
Even with the rate volatility, their calculation is simple:
1. How do the fees compare to other exchanges they use?
2. Can they use it on their phone through a browser or app, without learning a new protocol?
If the answer is negative, it's unreasonable to expect them to use Bisq over its competition. It's hard to justify that even though Bisq still needs so much dev work, the devs and other contributors already need to collect top fees among exchanges percentage wise, and get paid top compensation.
The fact that even the USD book still doesn't get above 2-4 BTC most days, already suggests that most traders and users worldwide consider it not worth their time even at discounted fees.
We support raising fees immediately to approach or even match the competing DEXs on altcoins and fiat respectively, but think it's unreasonable to exceed them.
However our position as traders remains one of simple business logic: if the revenue and cash flow the market currently provides Bisq DAO is not enough to support the contributor labor costs, the problem is in the high labor and operations costs, and can't be fixed with uncompetitive fees for Bisq's current and potential customers.
Numerous organizations in history have demonstrated that basic fact in every part of every economy.
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