[bisq-network/proposals] Make burning man a tradebot and add BSQ auction market (#304)

Steven Barclay notifications at github.com
Sun Feb 7 02:11:39 CET 2021


I can't see any problem using `SIGHASH_ALL|ANYONECANPAY` as described. We could alternatively use a prepared tx with one BSQ input from the trader and one BTC output to the trader and make the input `SIGHASH_SINGLE|ANYONECANPAY`. That way, the BM could add a change BTC output (though not the trader, who would now have to use the exact BSQ amount). This would also allow batching, where _n_ prepared txs are merged together to create a block of _n_ BSQ inputs and _n_ BTC outputs back to the respective traders, plus whatever inputs & outputs the BM adds, to lower fees for the BM. Of course, using `SIGHASH_SINGLE` would no longer enforce that the BSQ actually gets burned by the tx, but we need to trust the bot not to steal money anyway.

Perhaps instead of creating a separate auction UI, the above could be implemented as a new payment method & trade protocol for offers in the BTC-BSQ offer book, as @sqrrm suggests but open to all takers, much like the proposed atomic swaps. Then the BM bot would be given the same status as any other BSQ buyer. The new payment method would only be available for BSQ sellers as makers (who would no longer need to be online while the offer is available) and BSQ buyers as takers. Also, it would be possible for a maker to securely lower his BSQ asking price when amending the offer, but not to raise it (as one cannot unpublish the old prepared txs). The latter would require moving the BSQ UXTO and recreating the offer (though possibly without having to repay the maker fee). Moving the UXTO would also be required to securely cancel the offer.

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