[bisq-network/proposals] Distribute trade fees paid in BTC to victims if the recent security issue (#205)
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Thu Apr 9 15:49:25 UTC 2020
I don't think this is the best approach. My thoughts are:
1) Let's not modify the Bisq code any further, especially in relation to the donation address code. This could potentially introduce new security vulnerabilities or attack vectors, by having untrusted people control the Bisq donation address. Additionally, it would be difficult to account for, i.e. when would each person get X BTC etc., and having to program this into the new filter implementation seems non-trivial. Finally, it introduces centralization in that whoever maintains the filter now single-handledly controls Bisq's revenue stream. We already have the well-tested and proven DAO in place to handle this type of situation, and just because the amount is large doesn't mean we should modify Bisq, we can instead simply spread out the payments over time to make it work.
2) If the burning man doesn't buy BSQ off the market and burn it, this will have the same exact effect as if we simply issue BSQ to victims and they sell it on the market. These market forces cancel each other out, and there is no magical way to prevent the BSQ price from falling because of this. You cannot just print $250K worth of money and not have the BSQ price reflect that.
3) Instead, I think we should simply issue BSQ to the victims as any other reimbursement request, but split up the amount over X monthly payments, to spread out the cost over time. For example, if there is $240K to be paid out, that would be $20K per month for 12 months, which would represent 1/3 of our current budget. It would be painful, but we could make it work. The burning man can prioritize buying BSQ from the victims each month at the issuance price, to make them whole in BTC as BTC, and everyone would be happy in the end, without having to modify any code.
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