Post
Topic
Board Altcoin Discussion
Re: [ANN] RealCoin [A new e-commerce business platform]
by
TheGlobber
on 05/02/2012, 10:07:18 UTC
I am afraid that the issue of legal operation is going to prove to be an insurmountable issue. But let's put that aside.

Don't you think a 1% fee is unnecessarily high? Why pass this out to GPU users? What are they doing for you and your customers again? Do they have any particular function that I'm missing?

Why not a logarithmic fee? Say (1/a)*ln (1+ax) where x is the amount spent and a is a constant? Then you start off at a 100% fee for infinitesimal amounts, the fee increases with x, but the proportion goes to 0% as the amount increases. How fast you converge to 0% is determined by a.  If you want you could use (1/a)*ln(1+a(x-k)) instead. Then k could be thought of as a minimum txn size, and the fee would be 100% for txns exactly equal to k.

Ideally, the system could supplant Mt. Gox and allow for a decentralized currency exchange. However, this won't work very well if you are putting in big unnecessary fees everywhere.



Thanks for giving the opportunity to post the following.

This is one of the things we were looking for when i first posted the thread!

The only thing left for RLC is to figure out a good Tx Fee %. The 1% was just a random number selected (of course it was selected as it is a lot lower than what the other payment gateways offer) and we are looking at discussing this part in more detail with all members of BTCtalk to figure out the best possible solution to have both happy miners and happy users.

Therefore, i invite everyone that posted above as well as reputable miners of this community to openly discuss the best formula for the transaction fees.

Feel free to post your opinion on what the fees should be or how they should be calculated.