[bisq-network/proposals] Increase trading fee (#99)
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Wed Jul 10 18:22:23 UTC 2019
I am voting NO on this one. I am concerned that we may make BSQ too expensive for customers in the countries that may actually fully adopt Bisq... Like China, Iran Venezuela ect. Also and perhaps most importantly we may dis-incentivize users to purchase BSQ if there is not enough of a benefit to paying with BSQ from BTC. Basically I am worried that the effect that you want to accomplish (more BSQ burnt up) may not actually happen by increasing the BSQ fees. YOU MAY ACTUALLY END UP WITH LESS BSQ PURCHASED!
** Why not propose to have all BTC fees used to purchase BSQ at $1 per BSQ?** In other words WHY IS THERE EVEN A CHOICE OF BSQ OVER BTC? Force users to use BSQ by getting rid of BTC fees. This would be the better proposal.
I also do not think that raising the fees is a good Idea when the price of BSQ has been relatively stable. BSQ has Stayed in my calculations at a little over a dollar per BSQ or at about 1.15 I think. You can increase the value of BSQ artificially by doing exactly what you propose, maybe, or we can increase the amount of BSQ burned by promoting the use of Bisq and making the application better.
I agree that we need to keep the developers happy and we need to attract people to the project, however we do not want to make BSQ too expensive too fast and we also do not want to artificially increase the price of BSQ when it is already stable at $1. Why was BSQ set so low?... I think it was to incentivize users to purchase BSQ, to get them addicted to BSQ. If the price is too high then there may not be incentive enough to entice people to buy BSQ over paying with BTC. Where do all of the BTC fees go anyway? Why are they not converted into BSQ?
Buying BSQ is an extra step that most people will not take if there is not enough incentive.
Get rid of the BTC fees by converting them directly into BSQ. Is that already planned?
Any thoughts on this idea?
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