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PRV network fee.

#1

Very simple post.
The network trading fee is to only be paid in PRV.
If a person swaps all of their PRV into BTC, how does a person then perform another swap seeing how the person has no PRV to use?
And no, “support can help” is not a valid answer (that is plan Z not plan A).
So, what’s our plan A to solve this, what can be implemented, shifted or removed to fix this issue from either arising or upon arising how can the user fix it (using another currency to pay for the fee?) apart from support jumping in?

Thank you for the help, I am truly concerned about this, and only want this project to succeed and ever do better!

4 Likes
#2

I believe a simple message with something like “Be aware that you will always need PRV for transaction fees” whenever you trade/make a transaction could very easily solve said issue.

Im also sure there is more of a technical answer to why this is the way it is, unfortunately i cannot provide that answer right now.

5 Likes
#3

I know there are notes like, low liquidity and things of that nature right now…I mainly invest, don’t trade too much.

Any thoughts on a, I dunno, side wallet that is only accessed for fees? Something that can be filled up that is only there to pay fees. That when it is low (only one trade left) it says, sorry no trades left for you until you fill me back up?

4 Likes
#4

Indeed that could also work, but seems like alot of work and complexity added that can be resolved with a simple message.

4 Likes
#5

I know your off work so you don’t have to respond.
But I don’t think a small message is really a fix. I really do think the system just saying, nope you don’t have enough to process fees at this time you need “x” amount and “x” amount could be enough to cover two transactions at a minimum?

I know it seems small, but small issues become large given enough time and I want to help quash it now.

4 Likes
#6

If you’re needing PRV and haven’t used the incfaucet yet you’ll be able to get some PRV from there. I’ve ran into the problem of not having any PRV for the transaction before this helped.

2 Likes
#7

It would help to make it impossible to spend all the PRV in such a situation. A clear message in the user interface could attend the user to what maximum amount should be spendable to BTC.

2 Likes
#8

Hm, yes, something to that effect. Like, there should always be a minimum amount left in a wallet to exchange prv with when making a transfer of one crypto to another, not wallet to wallet.

So, if I was sending all prv to one wallet so everything is in one wallet then all could go, that’s no issue.

But, when swapping one crypto for another no one should be able to empty out all prv since it is the “fuel” to facilitate transactions, correct?
Otherwise, it’s kinda self defeating and one of those :man_facepalming: moments that should never really happen. At least as far as I understand it?

1 Like
#9

Can you see how this is impossible to maintain?

Let’s say I have 10 xCoins and 10 PRV. I move the 10 PRV to another account, as you stated I want it all to be in one account. After that I will only have 10xCoins and no way to either move them out or trade for anything unless I bring some PRV back to that account.

A warning is possible when people remove all PRV from one account, but that is all.

1 Like
#10

Three possible solutions to that issue:

  1. Then just maintain a minimum in each wallet if said wallet has any coins in them.
  2. Make the individuals’ wallet to wallet fees payable in the crypto they currently have in said wallet.
  3. Remove the fee when the user is simply shifting their own funds from wallet to wallet so they can consolidate.

Could any of those ideas have a 1% chance of working?

1 Like
#11

These fees are network fees, they are the rewards for validators. I don’t think it is a good idea to tell the validators hey thanks for doing the job but this one didn’t earn you anything.

That also is the reason why the second one will not work. If the only coins you have left in the wallet are user created coins, or low value coins, you are making the validators lose rewards (earn worthless coins).

People should be free to move their coins around any way they want, we can’t put restrictions on funds. The only thing we can do is warn. What people do after that is their responsibility.

We haven’t seen many people in a situation of having no PRV, but it can happen. When it does, they can contact CS or just mention it here or on Telegram and I am sure people be willing to help out. Especially since only a real small amount is needed.

4 Likes
#12

Okay then, that’s fine, I disagree, but I’ll leave it at that and scrap the idea. Not all ideas can be winners.