[bisq-network/proposals] Allow unsafe payment methods if buyer locked up a BSQ bond (#131)

wiz notifications at github.com
Mon Oct 28 12:57:27 UTC 2019


I also want to add that more than anything about this proposal, I really hate the thought of having to tell new users they would need to buy and hold BSQ for X months just to buy some Bitcoin on Bisq with their payment method of choice. Users should never have to buy BSQ just to trade on Bisq, because it would create artificial demand for BSQ colored Bitcoin and "pump the market".

Think about it from the newbie perspective. Imagine a user in USA who only has insecure payment method apps like PayPal and Zelle and CashApp - if they want to buy $1000 worth of Bitcoin, now they would somehow have to:

- Buy $1000 worth of BSQ
- Lockup that BSQ bond for 180 days (PayPal dispute period)
- Accept offer to Buy Bitcoin using PayPal from another person who did same BSQ bonding ??

This really sucks and newbie would probably give up on step 1, because nobody wants to buy BSQ and post a BSQ bond just to buy some Bitcoin... and even if Bisq worked absolutely perfectly through this process, users would still mess up their Bisq app somehow, and they would never use Bisq again after having painful process or risk losing funds.

I feel we need to fix the critical Bisq issues instead of adding new risky functionality into the app. Currently Bisq has many issues so I personally don't feel comfortable to hold any BSQ at the moment. Would new users feel comfortable to do this, just so they can use an insecure payment method? Why not just keep forcing users to use secure payment methods instead like we are doing now? PayPal might work fine between trusted trading parties, but Bisq is trustless so it doesn't really make sense to use trusted payment methods IMO.

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