[bisq-network/proposals] Promote @huey735 to full support agent (#183)

wiz notifications at github.com
Wed Mar 11 04:06:41 UTC 2020


> Why was the 2 of 3 model abandoned

It's because Bisq is not a centralized Bitcoin exchange. Bisq is a "decentralized exchange network", which means Bisq is actually just a piece of open-source software that Bitcoiners use to trade directly with each other (aka Peer to Peer), and without using a Trusted Third Party (aka Arbitrators). In other words, the entire point of Bisq is to replace the Trusted Third Party model for Trading with a distributed incentive model, just like Bitcoin has successfully done with "money" and banking.

If you want to trade Bitcoin using a Trusted Third Party, there are many centralized Bitcoin exchanges out there that can do this for you, with much more efficiency than Bisq and with a smoother UX, fancier websites, support team, etc. Please remember the goals of Bisq - the contributors who develop and support the Bisq software have no intention to be a Trusted Third Party to trades between users of the software, as this would defeat the purpose of the Bisq project.

> Why do you think the current protocol is superior to having trusted/bonded arbitrators with the third key?

If it's not clear to you why TTPs are bad, I would suggest reading [Trusted Third Parties are Security Holes](https://nakamotoinstitute.org/trusted-third-parties/). Satoshi showed the world it was possible to replace the a Trusted Third Party model (Central Banking) with a distributed incentive structure model (Bitcoin).

The donation mechanism is only intended to be an emergency recovery process for lost funds due to bugs or other critical failures when the traders can't complete a trade within the hard-time limit. The structure is correct, but we need to improve the financial incentives and game theory to reduce the frequency of how many trades get donated. However, keep in mind that nobody has ever lost any funds trading on Bisq. The system works and we are always working to improve it.

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