Bulletin on auctionbot fees

Some of the following may or may not be news to everyone. Nevertheless, I figure this deserves a proper post. Going forward auctionbot fees will be handled as such:

  • 20 ecu (2 satoshi) per auction hour charged to the creator of that auction1 for auctions ending with a sale
  • 100 ecu (10 satoshi) per auction hour charged to the creator of that auction for auctions ending without sale
  • Quarterly usage will still be published and deeded as before, however the creator of the auction will not receive an invoice until the amount of unpaid fees hits a threshold of 1mn ecu (0.001 BTC).2

Why have fees again?

For those that may not be aware, auctionbot fees originated as a way to discourage spam in #eulora:

mircea_popescu lobbes and by the way i'm all for your monetizing this. charge people 200 ecu / hour for successful auctions and 1k ecu/hour for auctions that end with no bids to cover for the cost of spamming the channel, and you can keep teh proceeds.

In other words, since the bot lists all active auctions in-channel every X hours, the fees exist to prevent large masses of 'junk' auctions from cluttering the logs.

Why are the fees at the rate they are today?

In late 2017 the ecu floated to 1 ecu = 0.1 satoshi3. After some discussion in the logs the auctionbot fees were lowered to the 20ecu/100ecu per hour rate stated at the top of this post.

I will continue to keep the fees relatively low.

Why is there a threshold of 0.001 BTC before collecting?

I've learned in the last year that running around each quarter and billing/collecting on what were sometimes very small sums4 was a tax on my time.

Perhaps more importantly, I do not want to discourage usage of the bot now that it has been seeing broader usage across the Republic. I believe a bill-at-threshold approach still serves the original purpose of discouraging spam, while at the same time not discouraging usage.

Of course, I will always welcome discussion on the matter.

  1. buy or sell []
  2. To put in perspective: assuming all your auctions ended in a sale, you would need to run 50,000 hours worth of auctions to see a bill. This means for users that only create, say, twelve 120-hour auctions per year, assuming they all ended in a sale it would take them ~34 years to see a bill (This, of course, assuming that fees remain unchanged.) []
  3. yes, 0.000000001 BTC, or a tenth of a satoshi []
  4. we're talking figures like 0.0000004 BTC []

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