[bisq-network/proposals] Proposal to increase trade deposit to 30% (#233)
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Tue Jun 30 11:58:47 UTC 2020
Thinking some more about this... the closer we can get human dispute resolution to how a true oracle would work... the easier it will be in the future to remove TTPs completely.
> Bisq is a DEX because it cannot require KYC- NOT because it lacks trusted third parties. The developers are trusted third parties. Everyone that holds a bond is a trusted third party. Fiat trading must include a trusted third party.
> And really the opportunity to make MONEY in this market is going to be enormous. We want BSQ to INCREASE in value. Think like a business- Not a crypto nerd.
I have to disagree with you @clearwater-trust. Unfortunately experience has taught me that any central point of failure will be attacked by regulators and they _will_ impose KYC. I have seen it a million times. But let me just point you to one example:
They had the best legal advice on how to not be custodians so that they would not have to do KYC. Erik Voorhees was adamant that they would never do KYC. He left NY after the Bitlicense was approved. They built it all the right way: no custody, no touching user funds, no accumulating user data, etc... The minute that their volume grew large enough they were called up and given a choice: submit or close. When you have employees, a company, investors... it's a very tough choice.
I am glad that the founders of Bisq have followed Satoshi's example and left. Otherwise they could be pressured.
It would be so easy for regulators to doxx a few dozen Bisq arbitrators to shut Bisq down or destroy trust in the market. They will be a target the minute that volumes grow to be significant.
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