1% transaction fee? You are kidding.
0.05% would be acceptable I think.
Why do you think a percentage is not a good idea?
I think it this way: percentages will lead to higher fees in total, which will lead to higher distribution of NXTs.
ok thats not a bad rate at all. I was expecting some yahoo to want a much bigger cut. so then we have something like
amt percentage fee rounded
1.00 0.05% 0.0005 0.01
10.00 0.05% 0.005 0.01
100.00 0.05% 0.05 0.01
1,000.00 0.05% 0.5 0.5
10,000.00 0.05% 5 5
100,000.00 0.05% 50 50
1,000,000.00 0.05% 500 500
10,000,000.00 0.05% 5000 5000
100,000,000.00 0.05% 50000 50000
[code]
Those lower amount transactions have their fees rounded up to .01 as it appears that will be our lowest expressable amount of NXT in the near future. CfB has stated that .01 is fairly easy to accomplish, but that lower than that will be 'complex'
Can you elaborate on why you think it will improve distribution? I say that its the fatcats that are forging that will suck those up, actually making the distribution worse, countertuitive to your logic, but I may be wrong, can you walk me through it if you think Im wrong?
Then there is the issue of all the high rollers's transactions always having priority over lower ones.
IMO a percentage based fee goes against the spirit of the concept of decentralized banking. Where now, thats how the bankers do things - they get their % cut. With a single fee everything is equal, unless you WANT priority by paying for it.
[/code]
New rate will be 0.1 NXT per transaction. Anything other than fixed rate will require more code changes and I seriously doubt the community will ever agree on any sort of scaled fee per send, especially since current all fees are the same, send, alias, etc. Remember, we are planning on 1000TPS. That means 100NXT per SECOND in forging. If that is not enough then you need to sell all your NXT and get something that returns 500% per year.