[bisq-network/proposals] Allow unsafe payment methods if buyer locked up a BSQ bond (#131)
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Tue Oct 29 10:04:11 UTC 2019
> We use our freedom as reusable security deposit
Nakamoto consensus (PoW) is a succesful alternative to private property laws for a very specific kind of asset, as it handles very well ownership and transfering of bitcoin units. Both Nakamato consensus and property laws are protocols.
Money is just one leg of a exchange. Bisq is trying to figure out an alternative protocol for exchange. This is an extremely difficult but very encouraging challenge. Any ideas and brainstorming around this are extremely valuable.
Doing absolutely all exchanges on spot or fully guaranteed is very expensive. The free market alternative to that is credit (reputation) and interest is its price. If I may nuance a little bit the claim "freedom as reusable security deposit", the first layer of that security deposit is your equity (net worth) and future income, and if that is not enough, then it is your freedom.
Locking BSQ is a proxy of net worth, but net worth is much more reusable and scalable than BSQ. Cryptographically attesting net worth of individuals seems to me an unfathomable task for Bisq, that's the job of a bank. www.lendingclub.com seems that is succesfully disintermediatinig banks, but of course they rely on KYC :( Not sure if despite that we could pick any idea from them.
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