Can you please explain your reasons and vision for Crypti's future in regards to the hard coded .5% fee?
I mean when Crypti reaches a value of one dollar per, that will mean it will cost me 5,000 dollars to move 1 million Crypti to another address.
Low nominal transfer fees was one of Bitcoin's advantages over traditional money transmitters.
I understand Crypti's goals are aimed more at commerce than a typical crypto so an explanation would be appreciated.
The .5% fee is to make it worthwhile for users to run delegates that do the forging of transactions. The fee can be changed as the value and price of XCR grows.
Right now, the 10K XCR fee needed to register a delegate will be earned back only after there have been approx 202 Million XCR transferred in the network, and provided that that particular delegate is up 100% of the time and in the top 101 voted delegates.
As for the cost of moving 1 million XCR at $1 each......... If XCR was worth $1 each, and you had 1 million of them, you would be a millionaire and $5000 would be chump change.
At $1 per XCR, it would also cost $10,000 USD to register a delegate.
We were going to have the delegate fee be 25000 XCR, but that would have required a higher 1-1.5% trans fee to have a reasonable return on investment for a delegate. Right now, the cost of a delegate is 10,000 X 1000 sats, or 10 million satoshi...... about $25 USD., nly 10% of which goes to the Foundation, which will eventually returned to the community through projects in discussion right now.
We will be reconsidering changes to all Crypti related fees and charges as we progress and the price rises.
This is a project in motion, not an unchanging stone pyramid.
As they way in the military "Remain Flexible"