glbse fees

[Thunderbit]

When you go to purchase shares i see there is a 8btc fee... thats a lot of money.. to me anyway.  is that a one time fee, or an everytime you buy a new stock fee?

[puffn]

When you purchase/sell shares, and you buy them at a listed price, it costs .5%. When you set the price, and someone else buys or sells at your price, it is free.

[Stephen Gornick]

When you go to purchase shares i see there is a 8btc fee... thats a lot of money.. to me anyway.  is that a one time fee, or an everytime you buy a new stock fee?

You are describing the fee to register to list an asset (to do an IPO of shares).

The fee for trading (purchasing or selling shares) is a half a percent of each trade.

[Bitcoin Oz]

When you go to purchase shares i see there is a 8btc fee... thats a lot of money.. to me anyway.  is that a one time fee, or an everytime you buy a new stock fee?

Thats the cost to list an assett on glbse. Not buy and sell shares or anything else.

[Thunderbit]

ohh wow that sounds a lot better i thought the 8btc was on me to pay...just to be able to buy the shares.
             thanks a lot

[puffn]

This. This is why GLBSE is better than Mpex.

[Bitcoin Oz]

ohh wow that sounds a lot better i thought the 8btc was on me to pay...just to be able to buy the shares.
             thanks a lot

Thats ok. MPEX costs you 20btc just to be able to buy shares 

[Thunderbit]

unreal

[Realpra]

So let me get this straight...

If I place an order that:

1. Matches exactly in price with an order in the order book - I pay no fee.

2. Matches exactly in price AND in the number of shares with an order in the order book - I pay no fee.

1 or 2?

Thanks in advance!!!

[OneEyed]

So let me get this straight...

If I place an order that:

1. Matches exactly in price with an order in the order book - I pay no fee.

2. Matches exactly in price AND in the number of shares with an order in the order book - I pay no fee.

1 or 2?

Thanks in advance!!!

No.

You pay a .5% fee on the part of your order that can be matched immediately. If any part of it (or the whole order) cannot be fullfilled immediately, then you will pay no fee on this part.

[Realpra]

No.

You pay a .5% fee on the part of your order that can be matched immediately. If any part of it (or the whole order) cannot be fullfilled immediately, then you will pay no fee on this part.

Okay so if sellers place orders that cannot be matched then no one ever will pay a fee and buyers can match and take these orders free?

Or are you just saying that the fee happens as soon as the actual sale goes through and not before?

[bitcoinbear]

If I understand correctly, whoever (buyer or seller) places an order that is not filled immediately, they do not pay a fee. If you place an order and it is filled then you pay a fee.

Another way to look at it: If you are putting an order on the orderbook, no fee. If you are taking an order off the order book, you pay the fee.

As an example: I look at XYZ and see a bid for 0.2 and an ask for 0.4. If I place a bid at 0.3, no fee. If I place an ask at 0.3, no fee. If I place a bid at 0.4, thus filling the standing ask, I pay the fee. If I place an ask at 0.2, thus filling the standing bid, I pay the fee.

[k3t3r]

a market order pays no fee.  a trade which takes from the order book pays the fee.

[Realpra]

Alright so basically there is always a fee on trades. That could have been more clear.

This means I cannot rely on GLBSE for other than advertising my fund as such a trade cost is unacceptable. For electrons moving around that is insane.


Luckily it looks like my friend might be interested in making some competition* for GLBSE - until then I will allow my investors to trade bonds at market rate manually via contacting myself.

You see my bond is an inflation secure fiat based bond so I want people to hold it instead of dollars when they think BTC will crash and then quickly resell. They can't do that unless the trade fee is small.


Anyway thanks for the info!

EDIT:
*A small site for trading my bond(s), not a full new GLBSE... that's not even in the plans right now.

[Stephen Gornick]

That could have been more clear.

Added to the GLBSE article on the Bitcoin wiki:

Fees

The list of fees can be viewed once logged in.
New asset fee: 8.0 BTC
Dividends fee rate:   0%
Sell fee rate, paid by seller: 0.5%
Buy fee rate, paid by seller:   0.5%
Transfer fee rate, paid by seller: 0.2%
Trade fees are MAKER/TAKER, that is if you place an order, and it goes on the orderbook, then you pay 0% fee, if the order gets matched with another order then you pay the trade fee(buy OR sell fee, not both).

 - http://en.bitcoin.it/wiki/GLBSE#Fees
 - https://glbse.com/portfolio/fees  <-- Need to be logged in to view.

[Realpra]

Added to the GLBSE article on the Bitcoin wiki:

Fees

The list of fees can be viewed once logged in.
New asset fee: 8.0 BTC
Dividends fee rate:   0%
Sell fee rate, paid by seller: 0.5%
Buy fee rate, paid by seller:   0.5%
Transfer fee rate, paid by seller: 0.2%
Trade fees are MAKER/TAKER, that is if you place an order, and it goes on the orderbook, then you pay 0% fee, if the order gets matched with another order then you pay the trade fee(buy OR sell fee, not both).

 - http://en.bitcoin.it/wiki/GLBSE#Fees
 - https://glbse.com/portfolio/fees  <-- Need to be logged in to view.

Yeah I saw that, I still think it is unclear. Maybe just because I haven't heard "maker/taker" before.

EDIT: Added a line that makes sense to me now.

[markm]

Alright so basically there is always a fee on trades. That could have been more clear.

This means I cannot rely on GLBSE for other than advertising my fund as such a trade cost is unacceptable. For electrons moving around that is insane.


Luckily it looks like my friend might be interested in making some competition* for GLBSE - until then I will allow my investors to trade bonds at market rate manually via contacting myself.

You see my bond is an inflation secure fiat based bond so I want people to hold it instead of dollars when they think BTC will crash and then quickly resell. They can't do that unless the trade fee is small.


Anyway thanks for the info!

EDIT:
*A small site for trading my bond(s), not a full new GLBSE... that's not even in the plans right now.

Percentage based fees do seem to be "traditional" it seems. However the Open Transactions software does not even have a mechanism for taking such percentages, so you might find Open Transactions a useful platform, depending upon the scale of trades. Open Transactions charges "usage tokens" for making API calls, so enquiring whether any offers even exist costs about the same as making an offer or taking someone up on an offer, and the actual value of what is offered simply does not enter into the fee calculation at all.

-MarkM-

[bitcoinbear]

That could have been more clear.

Added to the GLBSE article on the Bitcoin wiki:

Fees

...
Sell fee rate, paid by seller: 0.5%
Buy fee rate, paid by seller:   0.5%
...
Trade fees are MAKER/TAKER, that is if you place an order, and it goes on the orderbook, then you pay 0% fee, if the order gets matched with another order then you pay the trade fee(buy OR sell fee, not both).

 - http://en.bitcoin.it/wiki/GLBSE#Fees
 - https://glbse.com/portfolio/fees  <-- Need to be logged in to view.

But the way that goes, it looks like in any trade the seller is paying the fee, and I don't think that is right. I think it should say "buy fee rate, paid by buyer"

Unless I am just confused. :\

[Realpra]

It doesn't matter really:

If the seller pays the fee and you are the buyer, all that happens is that he gives YOU a higher price - in the end most users end up paying the fees equally.

.............Open Transactions a useful platform...........

-MarkM-

Interesting info. Thanks.

[Enigma81]

That could have been more clear.

Added to the GLBSE article on the Bitcoin wiki:

Fees

...
Sell fee rate, paid by seller: 0.5%
Buy fee rate, paid by seller:   0.5%
...
Trade fees are MAKER/TAKER, that is if you place an order, and it goes on the orderbook, then you pay 0% fee, if the order gets matched with another order then you pay the trade fee(buy OR sell fee, not both).

 - http://en.bitcoin.it/wiki/GLBSE#Fees
 - https://glbse.com/portfolio/fees  <-- Need to be logged in to view.

But the way that goes, it looks like in any trade the seller is paying the fee, and I don't think that is right. I think it should say "buy fee rate, paid by buyer"

Unless I am just confused. :\

You are just confused.  The transactor who takes an order off of the order book pays a fee.  The transactor who puts an order on the order book does not pay a fee.  I don't know how much more simple it could be made.  If a buyer puts a buy order on the order book, he pays no fee - when a seller places an order to sell at that price, the buy order comes off the book and the seller pays the fee.  Conversely, if a seller puts an ask order on the order book, he pays no fee - when a buyer places an order to buy at that price, the ask order comes off the book and the buyer pays the fee.

Enigma