[bisq-network/proposals] Increase trading fee (#99)
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Fri Jul 12 12:14:24 UTC 2019
> > Get rid of the BTC fees by converting them directly into BSQ
> That does not work. How should you buy BSQ when you need BSQ for the fee? Chicken and egg problem. Also we always stated we do NOT want to force users to use BSQ.
Thanks for the replies.
Here is a way that this could work manually and without complicated formulas.
At the end of each cycle or week we gather all of the BTC fees. We post an order for BSQ at the price of $1USD = 1 BSQ using the collected BTC fees. This creates price support for BSQ with the BTC fees at the price of $1USD for one BSQ.
If the BSQ is sold then the market price prevails until the next order comes forward at the price of 1usd = 1BSQ.
It does not matter if BTC is $24,000 or $3,000. We set the price conversion at the time we post the order to purchase BSQ.
I hope this is clear because I would appreciate some feedback @ManfredKarrer @MwithM @huey735
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