[bisq-network/proposals] Use Keybase to increase accessibility to Bisq for new traders with no funds for security deposit, trading and mining fees (#283)

chimp1984 notifications at github.com
Tue Dec 29 17:20:33 CET 2020


Sorry to be late to the discussion, missed it when started...

I like the idea. Here are some comments:

- Does anyone has experience of similar OTC trade platforms on Telegram, Whatsapp,... Which kind of security do they provide. I guess its bases on reputation only...
- In case of a confiscation request for the DAO we could just leave the 2 parties present their evidence, that is more work for the DAO but it should be exceptional anyway (and if it happens it might be the end of that experiment anyway). So maybe its better to keep mediators completely out of the concept. I am not sure if one can deliver a (cryptographic) proof of the keybase chat messages, if so it would be easier, otherwise anyone could make up a screenshot...Mediators would have same dilemma... PagerSigner proof of fiat payment could be provided to some "trusted" community members as well if available...
- One barrier might be that a new user does not know really about the DAO and BSQ bonds. So they might be worried about the security as they have to pay first. Some easy to understand explaination will be required. 
- There should be clear limits of number of trades and total amounts per buyer. If that is violated by the seller it is a clear reason for confiscating the bond. In case it becomes polular users might prefer it over Bisq as it has no trade fee and less miner fee, BUT the security might be misleading and is weak. Buyers might not understand that sufficiently and long-cons (BSQ bond will not cover all if lots of trades are going on) would be a logical result long term it it becomes bigger.
- The project should be clearly "branded" as NOT-Bisq but a private initiative of community members using BSQ bonds for security. BSQ bonds could be used anyway for anything what Bisq is not aware of. In fact there are several bonded reputation bonds set up where nobody knows for what they have been used for. The DAO voters also have no obligation to vote on confiscation requests. 

Somehow its partially a low tech version of the off chain trade protocol idea ;-). 

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