[bisq-network/proposals] Promote @huey735 to full support agent (#183)
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Wed Mar 11 16:38:37 UTC 2020
> the traders are trusting the Donation Address Holder to not make/take offers and simply wait till the funds are deposited in their address.
That's the biggest issue. Any other thing is user experience, and can improve, but this is a huge central point of failure because locked bonds cannot cover risks of a dishonest or hacked address holder. I still don't see how is this any better than using 2of3 multisig, other than legal protection from considering moderators as money transmitters.
> ...[traders] actually "lose custody" of their funds once they start a trade on Bisq, because when they get moved into the 2 of 2 multisig it becomes a "joint custody" held by both traders together.
> 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.
You always depend on another part to move funds, but if you have 0 confidence in the other part, owning 1of2 keys in a 2of2 multisig is way better than owning 0of1 in a normal BTC address.
The structure is not correct: until Bisq destroys trade funds in case of disputed, DAO address holder can take advantage of it and create its own offers in a profitable way. It's not only reducing frequency of how many trades get donated, but what do we do with these funds.
I understood that it was riskier to burn funds when a new trading protocol and software was being released, but forgetting the risk that DAO address holder creates to this project does not help. @huey735 conclusions (make clear to traders the risk they're incurring, polish in the current protocol for more transparency, redundancy and monitoring and come up with something better) it's essential.
> ... and using the suggested payout from the mediator of the case, the Refund Agent will then refund the traders.
Refund agent (I would rather still call it arbitrator) needs to collect evidence again to make its own judgement. This are refund agent's words, at Keybase:
> It is also the case that the traders are unaware that they need to explain the situation again to me as a Refund Agent. It seems that the traders think I am the same person as the mediator and knows all history. The UI should be improved in this respect.
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