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Does that include finalizing? I've had over $1000 finalize and can't access those coins. If you could please stop finalizing so that I'm not stuck with coins at a certain price, I'd really appreciate it.
God dammit! I was sooooo close to booting up my VM and getting the shipping addresses for my orders.
I was like 15 seconds off from pulling up the order tab.
There has been a lot of arguing about what you pay in commission since the formula was changed, so for clarity transparency here is what you're paying in commission including a comparison. Before you say this is wrong, please verify your calculations. These number have been independently calculated by another user.
Commission calculations
Atlantis Old Silk Road New Silk Road
6% of the first $50 10% of the first $50 4%+6.7*exp(-p/6)
5.5% of $50 - 150 8.5% of $50 - 150
5% of $150 - 300 6% of $150 - 300
2% of $300 - 500 3% of $300 - 500
1.5% of $500 - 1000 2% of $500 - 1000
1% for everything over $1000 1.5% for everything over $1000
Pre-Commission Atlantis Old SR New SR Old SR % increase New SR % comm.
List Price Commission Commission Commission over Atlantis Price over Atlantis price
$5 $0.30 $0.50 $3.11 40% 937%
$10 $0.60 $1.00 $1.67 40% 178%
$20 $1.20 $2.00 $1.04 40% -13%
$50 $3.00 $5.00 $2.00 40% -33%
$100 $5.75 $9.25 $4.00 38% -30%
$200 $11.00 $16.50 $8.00 33% -27%
$500 $20.00 $28.50 $20.00 30% 0%
$1,000 $27.50 $38.50 $40.00 29% 45%
$2,000 $37.50 $53.50 $80.00 30% 113%
$5,000 $67.50 $98.50 $200.00 31% 196%
$10,000 $117.50 $173.50 $400.00 32% 240%
$20,000 $217.50 $323.50 $800.00 33% 268%
$50,000 $517.50 $773.50 $2,000.00 33% 286%
Putting all this "how much did the rates go up/down" bickering aside, I do have to say that a commission rate that fluctuates depending on the price of bitcoins seems very strange to me. Like it or not, Bitcoins as a currency are way too volatile to post your listing based on BTC value. The vast majority of vendors peg it to USD, for good reason.
As I understand it, with this new system if BTC swings wildly, so does the USD-based commission rate. That's not good design.
I'm open to correction if my interpretation of this formula is incorrect.
To give a little more perspective, at the current exchange rate of $75 per btc, a $1000 item under the former schedule now costs $1007.26. A $2000 item now costs $2028.07. And as said before, lower priced items are virtually unchanged.
And a $2,500 item costs $2,600.80. It more than doubled. That is exactly why I noticed this so soon. It's okay. My customers will eat those extra fees because I sure wont.
Thank you for giving us the formula and letting us know how the fees currently work.
I really don't have time to be correcting everyone's arithmetic, but I feel the need to nip this in the bud and point out how bad math and bad comparisons can lead people astray. I provided 2 data points, which you quoted, demonstrating the effect of the change in commission. Then you added a 3rd data point showing the total commission instead of the change, which is misleading, and then said "it" more than doubled, which is ambiguous. If "it" is referring to the commission, then this is not just misleading, but incorrect.
A $2500 item before the change is now $2539.80.
My math is spot on DPR. You're just wording this bad. When you say a $2500 item, you are clearly working the previous fees into the price and I was not.I was clearly talking about a $2,500 item BEFORE any fees. You were talking about a $2,500 item after previous fees which is really a $2,4XX item. A $2500 item (before any fees) now costs $2600.80 after fees. Last week a $2,500 item (before fees) would cost $255X after fees. So fees did double for $2,500 items. I'm okay with that though. As I said, it's not coming out of my pocket, but I don't appreciate you saying that I am wrong about it.
It's all gravy Robbie. Just keep this ship sailing smoothly.
Anything above $300 is going to have an increase in price of $20 and up... Kind of back handed to say "Lower priced items will remain virtually unchanged" when everything is changing in price to a degree proportionate to its price.
Lower priced items are not unchanged. Everything is changed.
To give a little more perspective, at the current exchange rate of $75 per btc, a $1000 item under the former schedule now costs $1007.26. A $2000 item now costs $2028.07. And as said before, lower priced items are virtually unchanged.
And a $2,500 item costs $2,600.80. It more than doubled. That is exactly why I noticed this so soon. It's okay/ My customers will eat those extra fees because I sure wont.
Thank you for giving us the formula and letting us know how the fees currently work.
Apparently the message I sent out to vendors did not go through. It explained the effect of the new currency pegging system to them, as well as how to set their accounts so that the change in commission would affect their prices in the way they wanted. I apologize that it did not through. Next time I send a message to all of the vendors, I'll double check.
How about posting this vendor message or sending it again so there is no confusion. If this was indeed a simple mistake, it can just as easily be rectified. Just send out the new fee structure memo like you said you've done and it will put this whole thing to rest.
