[bisq-network/bisq] Big mining fees (#4575)

Petr Hejna notifications at github.com
Sun Feb 7 20:02:55 CET 2021


I like to share here my post from Keybase (that I made some time ago).

> Hi, did onboarding to few new users (some before the BTC price pumped, some after). I like to share my experience. I am huge fan of Bisq, but I have to be honest here even to myself. Here it is:
> 
> 1) All of the were super positive about Bisq's idea and concept of decentralized exchange. Once they grasped the idea of multisignature escrow, the "click" moment was so beautiful to withness 🥰.
> 
> Rest of it was however not so positive.
> 
> 2) Bisq is slow, I have heard "slow Java" multiple times.
> 
> 3a) Bisq is expensive. Someimes I am doing trades to enable them build trust in Bisq in controlled environment. It was expensive before, but now, its hell. They need to sign accounts and the trade costs 35€ (maker+taker). Trade of 0.01BTC (= 330€) makes it 10% transaction costs. 
> 
> 3b) TRansaction costs are not clearly visible upfront. It was hard to sumarize fees. I think user needs some easy way to see: I buy 0.01 BTC and will pay 330€ + 0.00005 BTC (16.5€) in fees to accept this trade. I think he needs to see it direcly on the offers' list page.
> 
> 4) It takes a lot of time. We had to wait for mempool to be emptier to even be able to do that 35€ trade, if we went yolo, it would be maybe even double of that.
> 
> 5) BSQ token is unaquirable for a new user. Currently the spread is 0.000048 - 0.000069 and the smallest unit the new user can reasonably buy is 150! One trade on Bisql is usually 0.7 (mabye up to 3?) BSQ in fees. New users needs 5-10 BSQ, not 150.
> 
> -------------
> 
> All of them understants that this is a price for privacy and some were willing to pay it. But many of them wont and turned to big exchanges sending them all the dickpics they require.
> 
> ------------
> 
> I would love to see, some ideas and improvents for those users, to lower the barrier of entry.

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