[ANN][LSK] Lisk | Blockchain Application Platform for JavaScript Developers

[bitseedmike]

Hey I have a question about lowering the transaction fees.

Why would delegates agree to lower transaction fees? They'll suddenly receive less money unless the transaction volume goes up a lot.

Sure people could vote them out if they don't want to help, but it sounds pretty hard to get a majority, why is this not a problem?

The transaction fees were one of the reasons what put me off buying Lisk originally (other being the price at the time). If the price increases substantially they will have to drop or a number of smaller players will not even consider using Lisk due to the fees. It could be a barrier (or at lest braking factor) to growth. I understand it is important, but should it scale down with volume or price to keep the coin attractive and keep delegates happy?

Yes, this was set when it was assumed Lisk would be at a lot lower market value. Delegates are meant to be paid mainly from forging rewards, not fees, the reason for the flat fee instead of a percentage like Crypti, which had no forging rewards other than fees.

I would also like to see a much lower fee for naming accounts as well.

[starmman]

Hey I have a question about lowering the transaction fees.

Why would delegates agree to lower transaction fees? They'll suddenly receive less money unless the transaction volume goes up a lot.

Sure people could vote them out if they don't want to help, but it sounds pretty hard to get a majority, why is this not a problem?

The transaction fees were one of the reasons what put me off buying Lisk originally (other being the price at the time). If the price increases substantially they will have to drop or a number of smaller players will not even consider using Lisk due to the fees. It could be a barrier (or at lest braking factor) to growth. I understand it is important, but should it scale down with volume or price to keep the coin attractive and keep delegates happy?

Yes, this was set when it was assumed Lisk would be at a lot lower market value. Delegates are meant to be paid mainly from forging rewards, not fees, the reason for the flat fee instead of a percentage like Crypti, which had no forging rewards other than fees.

I would also like to see a much lower fee for naming accounts as well.

If it can be proven that the high transaction fee is a barrier to growth, and it wasn't designed to be this high, then I suspect that it would be in everybodies interest to reduce the fee. I wonder if the dev team and wider community agree and how easy it would be to alter.

[honolulumark]

I see somebody attempted to fight the market and tried to pump LSK. This is a big mistake because if the price continues to fall then he will have to dump to avoid a big loss making the price fall more again. Without market sentiment it is good to avoid doing anything for now.

How much cheap do you want? If you are dreaming that it will hit below ico price then you are wrong..

I am not saying anything of that sort. I am merely observing the LSK market and making a speculation. As I said fighting the market should not be done. You should save your money for now and patiently wait and observe the market.

on a  lighter tone, why did you choose bigblackcock reporter as your name?  

[Mr.Pro]

I am not saying anything of that sort. I am merely observing the LSK market and making a speculation. As I said fighting the market should not be done. You should save your money for now and patiently wait and observe the market.

Well, I do understand.
But who cares its buy buy buy every dump we should buy buy buy 

Im all in on lisk

[Calabi–Yau Manifold]

I see somebody attempted to fight the market and tried to pump LSK. This is a big mistake because if the price continues to fall then he will have to dump to avoid a big loss making the price fall more again. Without market sentiment it is good to avoid doing anything for now.

Very ugly post dude.
Obviously that you sold last days at or near bottom Lisk and now trying to FUD. Shame on you and go away!

[Calabi–Yau Manifold]

Lisk volume on POLO say it's about to pop the cherry
When it's happen these ETH, EAT, ETC craps will have no chance in crypto world. The volume and anticipation say it all.

My man. Cheers!

[honolulumark]

Lisk volume on POLO say it's about to pop the cherry
When it's happen these ETH, EAT, ETC craps will have no chance in crypto world. The volume and anticipation say it all.

My man. Cheers!

you lost your shit pretty hard when Mal dumped to oblivion. cool out

[Calabi–Yau Manifold]

Honolulu psycho dude time to quit that 

I know from someone that you bought tons of cheap LISK last days below 40k so chill out dude, soon fuding LISK won't be profitable anymore:)


To all noobs:

If you sold LISK at bottom or just below 40k last days it's time to rebuy because LISK will be pumped hard at poloniex very soon. Fuding about Lisk is going down to ico price etc. crap posts are not profitable and won't take Lisk to low price where you set bids just because many of you sold at 35000 or 37000.

Lisk = moon soon. Development now will be much stronger and time for new ATH in few months.

[ttookk]

Hey I have a question about lowering the transaction fees.

Why would delegates agree to lower transaction fees? They'll suddenly receive less money unless the transaction volume goes up a lot.

Sure people could vote them out if they don't want to help, but it sounds pretty hard to get a majority, why is this not a problem?

The transaction fees were one of the reasons what put me off buying Lisk originally (other being the price at the time). If the price increases substantially they will have to drop or a number of smaller players will not even consider using Lisk due to the fees. It could be a barrier (or at lest braking factor) to growth. I understand it is important, but should it scale down with volume or price to keep the coin attractive and keep delegates happy?

Yes, this was set when it was assumed Lisk would be at a lot lower market value. Delegates are meant to be paid mainly from forging rewards, not fees, the reason for the flat fee instead of a percentage like Crypti, which had no forging rewards other than fees.

I would also like to see a much lower fee for naming accounts as well.

If it can be proven that the high transaction fee is a barrier to growth, and it wasn't designed to be this high, then I suspect that it would be in everybodies interest to reduce the fee. I wonder if the dev team and wider community agree and how easy it would be to alter.

This was actually addressed before and Max pointed out, that they will adjust the fees.
He is in favour of using a dynamic fee, but he is not the only one to decide.

Source:

https://blog.lisk.io/lisk-community-meeting-summary-june-11th-50dcadd41fef#.a84yvv6tl

[starmman]

Hey I have a question about lowering the transaction fees.

Why would delegates agree to lower transaction fees? They'll suddenly receive less money unless the transaction volume goes up a lot.

Sure people could vote them out if they don't want to help, but it sounds pretty hard to get a majority, why is this not a problem?

The transaction fees were one of the reasons what put me off buying Lisk originally (other being the price at the time). If the price increases substantially they will have to drop or a number of smaller players will not even consider using Lisk due to the fees. It could be a barrier (or at lest braking factor) to growth. I understand it is important, but should it scale down with volume or price to keep the coin attractive and keep delegates happy?

Yes, this was set when it was assumed Lisk would be at a lot lower market value. Delegates are meant to be paid mainly from forging rewards, not fees, the reason for the flat fee instead of a percentage like Crypti, which had no forging rewards other than fees.

I would also like to see a much lower fee for naming accounts as well.

If it can be proven that the high transaction fee is a barrier to growth, and it wasn't designed to be this high, then I suspect that it would be in everybodies interest to reduce the fee. I wonder if the dev team and wider community agree and how easy it would be to alter.

This was actually addressed before and Max pointed out, that they will adjust the fees.
He is in favour of using a dynamic fee, but he is not the only one to decide.

Source:

https://blog.lisk.io/lisk-community-meeting-summary-june-11th-50dcadd41fef#.a84yvv6tl

Great to hear that they are actively looking into this, and thanks for sharing the link, Lisk seem much more organised than other coins I've invested into which is a great sign. I've taken a look, and will start to keep upto date with the future development of the project.

[Poly#Crypto]

(...)
Lisk = moon soon. Development now will be much stronger and time for new ATH in few months.

You should not fight each other.
Instead, install v0.3.2 and test. Currently this is more important than "Moon Lambo Noob et cetera".

And join the Lisk Chat, channel #testnet.

Every update needs many tests. Help us and new updates will come faster.

[someonesomeone]

Nice rise in price today. We should see more when 0.3.2 goes live and even more at 0.4

[Ruzka]

Nice rise in price today. We should see more when 0.3.2 goes live and even more at 0.4

It is looking better in the last few hours. I hope that is Mal putting up his profits from ETC because that shit is dropping back down to what he paid and he could have got out with nice profit. Buy support of LISK is rising, looking good.

[Calabi–Yau Manifold]

Mal is still holding ETC as he told at lisk chat.

He thinks ETC = 10$ so he holding.

I m curious if he will become bagholder or will take small profit set to what he could take at 0.006+, looks like ETC pump loosing hype...

[MalReynolds]

Mal is still holding ETC as he told at lisk chat.  He thinks ETC = 10$ so he holding.  I m curious if he will become bagholder or will take small profit set to what he could take at 0.006+, looks like ETC pump loosing hype...

I cashed out all my Lisk (except for mal_dapp_fund) 72 hours ago for 286 BTC (which I bought at ICO for 135 BTC four months ago).  If I had done nothing, I would be holding Lisk worth 316 BTC today.  Instead, I am now hodling ETC worth 390 BTC.  What would you do?

I made 151 BTC profit in Lisk.  That took me 4 months because I was hodling Lisk since I truly believe in its tech.  Now I've made 74 BTC (unrealized) profit (so far) with ETC in just three days.

Anything could still happen.  I have a stop loss in place to bail me out with enough BTC to buy back into Lisk at my original holdings.  It would currently take a 20% drop in ETC to hit that stop.  But the initial storm is dying down, and ETC / ETH is starting to look more and more like a normal market.  Every day ETC survives now, it becomes more and more legitimate.   The more legitimate ETC becomes, the more likely its price will at least drift upward to match the price of ETH.  Which is $10.    

What would you do?

I updated my Lisk testnet node to 0.3.2 last night, that's what I did.

[Poly#Crypto]

Mal is still holding ETC as he told at lisk chat.  He thinks ETC = 10$ so he holding.  I m curious if he will become bagholder or will take small profit set to what he could take at 0.006+, looks like ETC pump loosing hype...

I cashed out all my Lisk 72 hours ago for 286 BTC (which I bought at ICO for 135 BTC four months ago).  If I had done nothing, I would be holding Lisk worth 316 BTC today.  Instead, I am now hodling ETC worth 390 BTC.  What would you do?

I made 151 BTC profit in Lisk.  That took me 4 months because I was hodling Lisk since I truly believe in its tech.  Now I've made 74 BTC (unrealized) profit (so far) with ETC in just three days.

Anything could still happen.  I have a stop loss in place to bail me out with enough BTC to buy back into Lisk at my original holdings.  But the initial storm is dying down, and ETC / ETH is starting to look more and more like a normal market.  Every day ETC survives now, it becomes more and more legitimate.   The more legitimate ETC becomes, the more likely its price will at least drift upward to match the price of ETH  Which is $10.    

What would you do?

I updated my Lisk testnet node to 0.3.2 last night, that's what I did.

Congrats Mal.

v03.2.0 works good for me too.
I would be glad if you vote for my polycrypto_test Currently I'm on rank 112 

[Calabi–Yau Manifold]

What would you do?

I would sell ETC above 0.006 with 80% profit and buy back into Lisk below 40k satoshis.

You are playing with fire atm, ETC is dumping right now -20%, i don't think it will reach 0.006+ soon, this is gambling, hype  is gone but good luck anyway.

[pieterjanvh]

Mal is still holding ETC as he told at lisk chat.  He thinks ETC = 10$ so he holding.  I m curious if he will become bagholder or will take small profit set to what he could take at 0.006+, looks like ETC pump loosing hype...

I cashed out all my Lisk 72 hours ago for 286 BTC (which I bought at ICO for 135 BTC four months ago).  If I had done nothing, I would be holding Lisk worth 316 BTC today.  Instead, I am now hodling ETC worth 390 BTC.  What would you do?

I made 151 BTC profit in Lisk.  That took me 4 months because I was hodling Lisk since I truly believe in its tech.  Now I've made 74 BTC (unrealized) profit (so far) with ETC in just three days.

Anything could still happen.  I have a stop loss in place to bail me out with enough BTC to buy back into Lisk at my original holdings.  It would currently take a 20% drop in ETC to hit that stop.  But the initial storm is dying down, and ETC / ETH is starting to look more and more like a normal market.  Every day ETC survives now, it becomes more and more legitimate.   The more legitimate ETC becomes, the more likely its price will at least drift upward to match the price of ETH  Which is $10.    

What would you do?

I updated my Lisk testnet node to 0.3.2 last night, that's what I did.

That's one hell of a trade MalReynolds. Very risky, but well played!
Hope you get back into Lisk some day.

[Menereron]

What would you do?

I would sell ETC above 0.006 with 80% profit and buy back into Lisk below 40k satoshis.

You are playing with fire atm, ETC is dumping right now -20%, i don't think it will reach 0.006+ soon, this is gambling, hype  is gone but good luck anyway.

The main thing is for now, where are the miners? I've had a birdie tell me they are moving back to ETH which is why the price is falling. The days of under 40k LISK seem to have gone for now thankfully, my investment is starting to pick up again.

Good luck Mal and get back to the real deal, yeah it is taking time but in the long run this is where the money will be made and success will be created.

[redsn0w]

I'm still here since the start of the public test (back in March 2016) and now I've obviously updated my test-node to the v 0.3.2


accountname /delegate : redsn0w


vote me also in the main net !