Quote from: asdf on June 04, 2014, 11:00:28 PM

Quote from: Valence on June 04, 2014, 10:49:51 AM

Quote from: asdf on June 04, 2014, 10:27:26 AM

So it hit $0.10. How's that fixed fee working out for you?

I don't see how it's going to the moon when the fees are prohibitively high. Yeah, yeah, I know "they can change the fee". Right, so how's that supposed to work? The devs just lower the fee whenever they feel like it? Is there some consensus, some protocol?

I've never go a straight answer to this. Anyone?

OK here's a straight answer for you: No there is currently no protocol for dynamic fees (which I think would be a great thing for Nxt). But Nxt is developing a voting system within protocol that could be used as an alternative to centralized decisions about fee changes. Anyway this is not a major issue.

Thanks.

So users will may able to vote for fee changes in the future. At least that's some answer. Now the question is about the incentives of the voters and the economic viability of such a solution.

I don't see how this isn't a major issue. The fixed fee puts a cap on the price. If NXT is worth $10, that means each transactions costs $10! Clearly NXT will never reach $10 per coin. In fact, it's probably never going to go much higher than it is now, unless the fee is lowered (somehow).

You must not be uptodate!

NXT will introduce a variable fee with the next NXT update. That means it will be way cheaper and the fee amount is depending on the size of the transaction.