Bitcoin Forum

hy folks,

i thought

since there might be people with similar projects, we could here all together discuss how to secure longterm low transaction costs,

maybe through a database of token systems, (ethereum, waves, Neo)

what is the current reality regarding transaction costs, i mean last thing i heard on ethereum it was 23 cents, so to get 2.9 percent transaction costs which would be like paypal you would have to transact the same value like 7,93€ so in other words you have to calculate 0.23/0,029 = 7,93 € to get your min needed amount or in other words

absolut transaction costs of your blockchain IT system (ethereum) / target percentage of transaction costs = the target amount of regular transaction. (0.23/0,029 = 7,93 €) or (0,2668/0,029 = 9,2 $)

this can come quite handy if you need to transact values to many people

the current situation is that limited supply of transaction token (ether, waves, Neo) creates costs for you and the speculation arround those digital assets make the problem even worse.

so how can we together prevent transaction costs, so your digital assets can still be used to pay for daily things (see formula and absolute values)

i dont know waves, or neo

but ethereums transaction costs currently are 23 € cents

i dont see ethereum waves or neo like a currency or a digital asset for me they are just certification systems, like those that print the bills but not those allowed to decide who earned them, thats what the ICO bounty campaigners do

regards

Waves is the most cheapest altcoin to send payments of those altcoins, because it charges you about 0.001 waves to send/receive payments, and it means that if every waves is $3, the transaction is going to cost you about $0.003 aproximately, it is not a huge amount of money if you compare it to Neo that are less than $0,20 each one.
Ethereum's are below $0,30 and it is not a high cost transaction fee, but bitcoin ones are so expensive, about six dollars for a single transaction are something that can not be spent everyday.

thank you very much

but for us ICO developers and Bounty campaign mangers we have an important question to Ethereum, Neo and waves, because currently they behave like central banks not like certifiers or money printers, they have to tell us what transaction costs they are targeting, so the market changes, the focus away from them who create the certification (encription via cryptography) towards those that do the bounty reward system to run the economy

because worst thing would be if you tokens transaction cost gets messed up by speculants.

so there is not a good sign if ethereum neo or waves want to grow in value of their token instead of grow in usage and efficency and security what they in my opinion should do

regards

OK folks i have found the following long term solution


i will base my asset pegged cryptocurrency on multiple encription platforms and give customers the freeservice to change it

this gives them lots of benefits.

1. they benefit from competition between encription platforms (ethereum, waves, neo and whatever comes in the future)
2. they benefit from the longterm evolution of the encription platforms regarding security from hackers
3. they have an asset secured token that is longterm secure and infrastructure beneficial, the mess that bitcoin became is impossible
4. they benefit from longterm security from speculants that limit the supply to token that you need to do transaction of digital assets and contracts.

i have calculated the following transaction costs:

bitcoin 6 USD/tx -> pure speculative tulpomania, no one can buy a cheeseburger  with bitcoin, it is only valuable because they are still people out there that think it is valuable, and only the owners of the cryptocurrency have interest in the value of it -> not sustainable

Ethereum 0,193 USD/tx -> expensive for smaller daily transaction between mobile phones it looks like few but given the huge amounts of things people pay daily for 5 and less USD it gets a lot, plus ethereum also has a mining competition like bitcoin

Waves 0,00414 USD/tx -> however waves is young, and unstable but it has the cheapest transaction costs

Neo 0,69825 USD/tx -> very exensive and not very good quality product,

i am however not sure about Neos tx/cost i am using currently a bitcointalk claim that it costs 0,025 Neo per tx and multiplied it with the price of it in coinmarketcap.

this way you can benefit from the competition of encryption plattforms, you protect yourself from two possible issues:

1. the Money minter doesnt become the king
2. the the evolving situation with encription and hacking and decription will be a neverending battle, IT blockchain encription systems therefore can age and get corrupted (also centralised via splits)

we have implemented the solution on our website so far

https://i.imgur.com/8u56iTv.jpg

or just go to http://cryptoproductivity.com/shop/

how do you like that?

we will be happy to get feedback

http://cryptoproductivity.com/shop/

this way the money minters, money printers, money certifiers, and contract certifiers (or for all encriptors)

are in direct competition with each other for efficient transaction costs, and security from miningpool corruption. while users, hold high quality asset pegged valuecarriers, and always with low transaction costs and good up to date quality of encription and secure from hackers because of the regular update or change of specialised encription plattforms.