Quote from whitepaper:
The payments, in the form of block rewards and transaction/computation fees, are made to owners of
computational resources (miners) in exchange for securing crypto-currency networks and transmitting
transactions. Due to the nature of our token sale the hash network block rewards and stake rewards are set to zero
while transaction fees remain standard at .001 hash.
IF TRANSACTION FEES ARE SET AT 0.001 chash, WHERE DOES THIS FEE GO?? BACK TO NETWORK?? THERE IS NO MINING OR POS, SO WHERE DOES IT GO??
AND WHAT TRANSACTIONS??? the trades at bittrex??
TRADES CONDUCTED AT BITTREX AND MOVING CHASH OUT PROVIDES THEM WITH COMMISSIONS?? ARE THEY SELLING THIS OR HOLDING ONTO IT??
thanks
A: They transaction fees go to miners who secure coin networks. In this case it goes to our distributed nodes that we have in place to secure the HASH network. The fees are insignificant at .001, It translates to 1.44 CHASH daily for total network support but doesn't cover GPU electricity cost at the moment but will when replaced with the lower cost asics when made available.
Q: AND WHAT TRANSACTIONS??? the trades at bittrex?? A: The trades on bittrex are bots usually trying to manipulate the orderbook for lower buy prices and higher sell prices. The easiest way to combat the bots is just to buy up the orderbook from their small order sell offers.
Q: TRADES CONDUCTED AT BITTREX AND MOVING CHASH OUT PROVIDES THEM WITH COMMISSIONS?? ARE THEY SELLING THIS OR HOLDING ONTO IT?? A: not sure what you mean but trades at Bittrex are done by people who trade chash on Bittrex. I am not sure what they do with it as it is not wise to sell.
