BitShares Fee Reduction

Suggested Duration: 5 to 10 minutes

Two proposal are/were being considered by the BitShares Committee regarding fee changes on the network. The motivation behind the fee schedule change is due to (a) the fee schedule being technically priced in BTS although they are targetted to a USD value, and (b) the recent large increase in USD-price of BTS.

Two proposals have been presented for review by the committee: the original, and a counter-proposal. The first expired without sufficient support. The second is under review and if approved will come into affect by January 9, 2018.

This updated price feed is also essential to Victor of BitPeso for whom a transfer fee of 0.02 USD is on the upper edge for what would be acceptable for his business.

One a related note, customminer has created a BSIP to technically define fees in terms of bitUSD rather than BTS.