Prior to HF20, witnesses had the responsibility to set the account creation fee. The fee set was then multiplied by 30 to get the Actual fee. Under the new rules, the responsibility is still with the witnesses however the multiplication does not take place when creating accounts. At the time of the HF the blockchain carried out a once off multiplication on all account fees set by witnesses.
However, it seems that since the HF many witnesses have broadcast new account fees without considering the fact the multiplication no longer happens.
"This reg fee was supposed to be converted automatically (* 30) to arrive at the true fee as it is no longer 30x reg_fee but this only happened for the top 20 witnesses.
as per @themarkymark below in the comments
When creating an account now, STEEM is burned. Please keep this in mind when setting your fee. Please also keep in mind that a few months back STEEM was over $7. If the witnesses had their account creation fees set to 0.1 this would be multiplied by 30, so 3 @ $7, the actual us$ cost was $21.00
Now STEEM is less then a $1 and some witnesses have their fee set at 0.1 and .02, so the account creation fee in US$ set by these accounts is less than $0.20. That’s 99% reduction on the peak.
The following witnesses which fall into the top 70 need to update their fees
And there are many more below the top 70 that also need updating. You can check the status here
https://steemian.info/witnesses
For Witnesses that are unsure how to change this setting and are using steem in a box. This is done by broadcasting a witness update. You will be familar with the boardcast message below. Account creation fee is found in the parameters after your key
update_witness "witnessname" "URL" "YOURKEY" {"account_creation_fee":"6.000 STEEM","maximum_block_size":65536,"sbd_interest_rate":0} true @steemcommunity witness is currently undergoing its update to version 20.3 and will be offline for some time today. Thank you for your patients. We hope to be back up and running as soon as possible.
Have a spare witness vote or two? Act now and vote @fulltimegeek and @steemcommunity as your STEEM witness today.
