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+--- Thread: Awards Market Pricing (/showthread.php?tid=5923891)
Awards Market Pricing - Omniscient - Dec 29, 2018
It seems like almost all the awards have been sold for real money instead of Bytes. The minimum in the market was set at β 1000 but I'm increasing it to β 5000. The house fee is 20% and that's going to remain the same for now.
Existing awards for sale under 5000 are still in the market but any new awards posted must be priced at least β 5000.
Out of the 292 awards sold, 233 were for the minimum 1000. That's not how I was hoping this would go. Unfortunately I'm considering suspending the Awards Market.
Thank you.
RE: Awards Market Pricing - Cyber - Dec 29, 2018
Yeah, I agree that this change needed to be set in place. I’ve been trying to sell some awards for bytes but no one wants them :(
RE: Awards Market Pricing - Qwazz - Dec 29, 2018
Suspend it, and make all awards Qwazz stars.
RE: Awards Market Pricing - webdev77 - Dec 29, 2018
(Dec 29, 2018 12:09 PM)Omniscient Wrote: It seems like almost all the awards have been sold for real money instead of Bytes. The minimum in the market was set at β 1000 but I'm increasing it to β 5000. The house fee is 20% and that's going to remain the same for now.
Existing awards for sale under 5000 are still in the market but any new awards posted must be priced at least β 5000.
Out of the 292 awards sold, 233 were for the minimum 1000. That's not how I was hoping this would go. Unfortunately I'm considering suspending the Awards Market.
Thank you.
The house cut is too high to make legit use of the awards market imo. Why would anyone sell for 5k bytes instead of just asking for $50 crypto and only wasting 200 bytes in fees instead of 1,000?
Just pointing out that little issue with how it currently works.
RE: Awards Market Pricing - Omniscient - Dec 29, 2018
(Dec 29, 2018 12:24 PM)webdev77 Wrote: The house cut is too high to make legit use of the awards market imo. Why would anyone sell for 5k bytes instead of just asking for $50 crypto and only wasting 200 bytes in fees instead of 1,000?
Just pointing out that little issue with how it currently works.
Avoiding the Bytes fee is just going to force me to raise minimums and maybe even the fee. I can easily do 10k β minimum and a 50% fee. And I will if this continues. If no one uses the Awards Market anymore because of high fees then so be it. I won't have to suspend the market then.
RE: Awards Market Pricing - reBELLYus - Dec 29, 2018
Let's see how this plays out. It should be good for the award market.
RE: Awards Market Pricing - PerfectStorm - Dec 29, 2018
Its unfortunate I thought more people would use bytes instead of crypto. The only award I ever bought I used bytes.
RE: Awards Market Pricing - TCP - Dec 29, 2018
Why not using a standard set of β prices according to the value of the awards?
The value of an award could be calculated by the number of people wearing one
RE: Awards Market Pricing - PerfectStorm - Dec 29, 2018
(Dec 29, 2018 12:36 PM)Exp500 Wrote: Why not using a standard set of β prices according to the value of the awards?
The value of an award could be calculated by the number of people wearing one
That is true but then again people like their freedom to sell sometimes. I honestly would be on board either way.
RE: Awards Market Pricing - TCP - Dec 29, 2018
(Dec 29, 2018 12:45 PM)PerfectStorm Wrote: That is true but then again people like their freedom to sell sometimes. I honestly would be on board either way.
Perhaps different minimums for different awards? So people can still rise the price if they want 😉
RE: Awards Market Pricing - reBELLYus - Dec 29, 2018
(Dec 29, 2018 12:45 PM)PerfectStorm Wrote: That is true but then again people like their freedom to sell sometimes. I honestly would be on board either way.
Yeah, members want to set their own prices.
RE: Awards Market Pricing - Deathy - Dec 29, 2018
Well isn't it obvious that most people would rather say.. $80 in BTC/PP than the equivalent in bytes? 🤨
RE: Awards Market Pricing - Omniscient - Dec 29, 2018
(Dec 29, 2018 12:48 PM)Exp500 Wrote: Perhaps different minimums for different awards? So people can still rise the price if they want 😉
I'm not going to set market prices for awards. Just minimums for the prices.
We're adding features for Bytes to be used not abused.
RE: Awards Market Pricing - Roytoy - Dec 29, 2018
Hoping to see bytes increase in value due to this change.
RE: Awards Market Pricing - luke - Dec 29, 2018
A well needed update. Thanks Omni.