Quote from: MalReynolds on April 03, 2015, 08:33:30 AM

Quote from: Litoshi on April 02, 2015, 04:11:46 PM

Quote from: Malibusparky on April 02, 2015, 03:28:03 PM

Can you please explain your reasons and vision for Crypti's future in regards to the hard coded .5% fee?
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....This is a project in motion, not an unchanging stone pyramid....As they say in the military "Remain Flexible"

Quote from: Bitseed on April 03, 2015, 02:33:27 AM

The fee is higher initially to create an incentive for people to go through the expense and work of setting up and running delegates during the initial phase of lower transaction volume. The plan is to go to a fee which dynamically adjusts based on activity, so as volume increases, the fee decreases...I fully understand the issue with transaction fees. It is a big problem...A major goal of the crypto currency movement is to eliminate this type of burden on productive people.

I would like to see the Crypti usage fee set at 0.0% starting with 0.2.0. This is doable. WE SHOULD DO IT.

The REAL reason 0.5% has been picked is the belief that "0.5% is low enough that Crypti users will accept it", NOT "We the devs have an analysis showing 0.5% will cover estimated monthly node costs". Currently no such cost analysis has been presented by anybody. Yet estimated out-of-pocket monthly costs should be a primary factor in everybody's decision on whether or not to run a node as a Crypti Delegate.

There are three main costs for a Delegate to run a node: hardware costs, electricity costs, and bandwidth costs.

Hardware: A Crypti node can run on a ODROID-C1 (see http://www.hardkernel.com/main/products/prdt_info.php ) costing $35 for the CPU board, say another $25 for the power supply, memory card, etc. That's $60 total hardware cost, amortized over a year of operation at $5 per month.

Electricity: A C1 runs at 10W max. There's 30*24 = 720 hours per month. These boards burn (10*720) / 1000 = 7.2 KWh per month. At $0.15 per KWh total electricity cost is 7.2 * 0.15 = $1.1 per month.

Bandwidth: There's a lot of ways to estimate bandwidth costs. I would say for the people who become Crypti Delegates, the INCREMENTAL bandwidth cost is zero. They already have an internet connection they are paying for which they are not giving up if they don't become a Delegate, and to which they could easily link and add a ODROID-C1. I know; I have a C1 node running an NXT client sitting quietly beside me right now as I type this. I could easily do the same for a Crypti 0.2.0 node at minimal personal expense.

So...just what "expenses" is a Crypti Delegate trying to recover by tapping into a 0.5% user fee? $60 bucks for an ODROID-C1? A buck a month for power? His internet service fee that he's going to pay no matter what so he can keep surfing the web?

Imposing a 0.5% user fee for such petty expenses is not necessary and it is not dreaming big.

Dreaming big is finding 101 Crypti users who will go out and buy with their own money a $60 C1 to run a Crypti node, and so become a part of the first cryptocurrency to charge ZERO USAGE FEES. The value of their 10K+ Crypti will SKYROCKET because USERS WILL FLOCK TO ADOPT THE FIRST CRYPTOCURRENCY THAT CHARGES ZERO FEES.

The advertising value alone of being able to make such a claim for Crypti would be WELL worth any relatively minor out-of-pocket expenses incurred by the Delegates.

I hereby volunteer to run one or more C1 Crypti nodes as a Delegate and pay for their expense out of my own pocket forever IF the 0.2.0 user fee is set to 0.0% forever.

I solicit your vote with that as my promise.

I am looking for up to 100 others to join me in this pledge.

Will you please join me? Will you HELP MAKE CRYPTI THE FIRST CRYPTOCURRENCY THAT CHARGES ZERO FEES?

Sorry, but with 0 fees you will soon have a blockchain size of several terabytes, as we don't have spam countermeasures. An Odroid can't run this.