[bisq-network/proposals] Connect traders and contributors more closely by extending the fee model (#280)

chimp1984 notifications at github.com
Fri Nov 20 00:12:17 CET 2020


> Why would the average trader - other than perhaps Bisq regulars - want to voluntary increase fees ? Won't the increased fees drive away users ?

Why would anyone who don't care about the reasons why Bisq exist use Bisq and not enjoy the benefits from centralized exchanges? I think we have to be more aware that a P2P exchange never can compete with centralized exchanges for many reasons if the core values we represent are not valued by the user. 
Some reasons why we never can compete are:
- Centrallized exchanges like all companies do not need to pay for the legal system and executive they can call in case of crime. Those costs are socialized to society. Bisq has built its own legal system (mediators, arbitrators) and executive (DAO) and the costs for that need to be transferred to the user.
- Centrallized exchanges benefit from repeated games. They do not scam you because they want to do long term business (exit scams exist of course but are not the rule). Security costs are lower if you can build on that. Pure P2P systems do not rely on repeated games, you trade each time with a diff. trader basically. It is even a privacy risk if there are large market makers who get too much data. So we need other security tools like security deposit and trade limits which come with higher costs  in money and convenience.

There are for sure more points here but I think those 2 are not that obvious... 
I think we need to focus on what makes Bisq specical and become more aware of the fact that we are unique: No other real fiat dex exist after so many years.

We have a similar experience with contributors to Bisq. We tried repeatedly to attract them by money. It always failed and was lost of money or at least as soon the money flow stopped they left as well.
But there are quite a lot of Bisq contributors around, not in for the money but because they understand that a censorship resistant and privacy protection Bitcoin exchange is important for the Bitcoin ecosystem. 
And I bet that a good chunk of our user base thinks in the same direction and the reason to use Bisq is more driven by that factor than by attributes which are also found on centralized exchanges (fees, convenience, mobile access,...).

> Creating a "social badge" clearly contradicts the decentralized philosophy in a fundamental way, doesn't it ?
Sure repuation and privacy are a bit hard and we need to find ways how to merge them. I think there are ways as anyone who is anonymous on social media has also an ID it is just not connected to his real life ID. So if the repuation is based on a dedicated private key which can be controlled by they user to change or keep when switching other IDs (like onion address) there can be build some systems. We build already 2 special case decentralized repuation sysems: The account age feature and the account age signing feature. 




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