[bisq-network/proposals] Adjust parameters for JPY order book to reduce friction for new users (#98)

J. Maurice notifications at github.com
Wed Jun 12 15:58:01 UTC 2019


> _This is a Bisq Network proposal. Please familiarize yourself with the [submission and review process](https://docs.bisq.network/proposals.html)._

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As you may have heard, our Tokyo Bitcoin Hackers meetup group is supporting the launch of the bisq's new JPY order book to its members. In preparation for the launch event, some of our co-organizers have been conducting test trades. I traded with with @flix1 on the JPY order book today and they went very well, but we have identified some friction points which I would like to propose adjusting, so that new users in Japan who create trades on the JPY order book will have a smoother experience:

1) Make escrow optional
What we really want for face to face trades is just a message board to post contact information and trade terms, like we used to have on localbitcoins.com - let users decide if they want to use the bisq escrow or not. For in-person cash trades, users typically only use a service like bisq to find people to trade with, and after the first trade they contact the counter-party directly for future trades, and wouldn't use bisq at all after that. @NicolasDorier said it well: https://twitter.com/NicolasDorier/status/1135370176285700096

2) Reduce the minimum security deposit to 0%, and make the default 0%
The current minimum of 5% security deposit in Bitcoin for a face-to-face cash purchase is impossible for users who don't currently possess any Bitcoin, or who are out of Bitcoin. Again, let the users decide how much risk they want to take, and not encourage requiring it for now. If there are issues we can always increase it later, but for onboarding new users this is a major friction point. 

3) Reduce the anti-spam measures
New users will want to experiment using bisq with very small order sizes, which the current system detects as spam and requires extremely large security deposits, trading fees, etc. - we should remove these, at least temporarily or until there is an actual spam problem on the JPY order book.

4) Consider reducing trading fees during the introduction period
For example, a user did a test trade for $100 and the trading/mining fees were about $6 - people interpret this as bisq being very expensive and costing 6%. Another user tried to make an offer for 1 satoshi and saw the security deposit was 5000% - we should really look at reducing these and only increase them later if we have actual problems. Japan doesn't have a scammer problem (yet).

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