Poll: InstantSend fee reduction

Should we reduce the fee for InstantSend from 0.01 to 0.001 dash?


  • Total voters
    18

GrandMasterDash

Grizzled Member
Masternode Owner/Operator
Jul 12, 2015
3,387
1,439
1,183
Currently, 0.01 dash is nearly 12 cents per transaction. We need to make this cheaper.
 

demo

Well-known Member
Apr 23, 2016
3,113
263
153
Dash Address
XnpT2YQaYpyh7F9twM6EtDMn1TCDCEEgNX
Your poll is not setup correctly. Below follows the correct way to setup your poll. You should at least add the Other option.

Poll: Should we reduce the fee for InstantSend from 0.01 to 0.001 dash?
  1. Yes, reduce fee 7 vote(s) 100.0%
  2. No, unchanged 0 vote(s) 0.0%
  3. conditional poll option: IF the locked dash by the masternodes becomes more than 70% THEN reduce the fee from 0.01 to 0.001 dash 0 vote(s) 0.0%
  4. reduce fee from 0.01 to 0.0001 dash 0 vote(s) 0.0%
  5. Increase the fee from 0.01 to 0.02 dash 0 vote(s) 0.0%
  6. Increase the fee from 0.01 to 0.03 dash 0 vote(s) 0.0%
  7. Delete the fee 0 vote(s) 0 vote(s) 0.0% 0.0%
  8. Stop posting polls 0 vote(s) 0.0% 0.0%
  9. Stop posting poll options 0 vote(s) 0.0% 0.0%
  10. Other 0 vote(s) 0.0% 0.0%
 
Last edited:

IronVape

Member
Masternode Owner/Operator
Mar 26, 2016
117
75
78
Trying to get a better understanding of instant send but the wiki link to the white paper will only show me the first 3 pages unless I download a special app. Is there some reason that we cannot afford to host this document ourselves?
 

rustycase

Active Member
Apr 19, 2016
495
118
113
Currently, 0.01 dash is nearly 12 cents per transaction. We need to make this cheaper.
imo, 0.01 = 12c usd is not a high rate and IF that is in part how Master Nodes garner their reward, it seems like a fair amount.

AFAIK, XMR Monero is presently fee scheduled @ 0.10xmr for a transaction, which is 10x higher...
The crypto public must be made aware of the value and utility in making use of DASH for P2P !
PR, and a crowd funded fiat gateway are the two most important projects I feel should be undertaken for the improvement of DASH.
Best
rc
 

GrandMasterDash

Grizzled Member
Masternode Owner/Operator
Jul 12, 2015
3,387
1,439
1,183
imo, 0.01 = 12c usd is not a high rate and IF that is in part how Master Nodes garner their reward, it seems like a fair amount.

AFAIK, XMR Monero is presently fee scheduled @ 0.10xmr for a transaction, which is 10x higher...
The crypto public must be made aware of the value and utility in making use of DASH for P2P !
PR, and a crowd funded fiat gateway are the two most important projects I feel should be undertaken for the improvement of DASH.
Best
rc
For pay-per-article or pay-per-minute services, 12 cents is both expensive and not competitive.
  1. Other cryptos are speeding up confirmations (switching to POS etc) and / or offering their own versions of instant transactions.
  2. If dash is indeed aimed at mass adoption ("digital cash"), then the low fee will be made up in quantity.
  3. The idea of charges for money handling is exactly why we switched from banks to crypto. What's the point of using dash if users are met by greedy MNOs?
  4. The expansion of MN services and those services sitting on Evolution will more than make up for this cost e.g. data storage costs etc.
 

rustycase

Active Member
Apr 19, 2016
495
118
113
I don't consider MN operators greedy, nor do I consider miners to be so...

imo, DASH does well maintaining it's niche in the marketplace. The competition is notable for their specific details.

Best
rc
 

t0dd

Active Member
Mar 21, 2016
150
132
103
keybase.io
Dash Address
XyxQq4qgp9B53QWQgSqSxJb4xddhzk5Zhh
$12 seems okay to me though it does make certain kinds of transactions expensive. I would be in favor of having the fee scaled. Right now it is .01 no matter the total of the transaction. Maybe have it a percentage? That .01 does make DDOS'ing the masternodes a smidge expensive. I suppose micropayments can just learn to live waiting 2.5 minutes for the first confirmation, but I think this will have to be re-assessed someday.