[bisq-network/proposals] Calculate the BSQ price rate for compensation and reimbursement requests from Burning Man trades (#269)

chimp1984 notifications at github.com
Sat Oct 24 15:51:20 UTC 2020


> Let's consider this manipulation as a donation to the DAO. Even though it was not real trades, about 50USD (double if paid in BTC) in trading fees were spent.

Consider that the trade statistics are just p2p network data anyone could publish. You do not need to trade at all, not even self trade and not paying trade fees. It requires a bit of code manipulation to do that but not hard for a motivated and skilled attacker.

At the end the conversion rate is always a subjective value and determined by the party who provides the service. If a bank offers USD/EUR conversion they set the rate. It is based on market rates but they can adjust as they wish. If its too much off not clients will use it. In Bisq if our rate for comp. requests is off reality we will lose contributors or BSQ stakeholders/investors so they have the incentive to be as close as possible to the real rate. 
To make that more practical we can use the 30 and 90 days average excluding outliers and let the BM have a kind of veto in case the rate is off his experienced price. The 30 and 90 days can also be off in case the attack is more sophisticate (e.g. publishing lots of small trade statistics and slowly moving in one direction - that is hard to detect, only when you trade yourself you will discover if that price is the real market price or not.

We would need a proof of trade, but that is not compatible with privacy. The only exceptions are the BM as he need to be transparent anyway and is a trusted, bonded role. The other way is to trade yourself and knowing its not a self trade and not fake trade statistics finding out what the market is willing to pay for BSQ.


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