[bisq-network/proposals] Off-chain trade protocol for small amounts using merit, bonds and proof of burn (#324)

[pazza]

Thanks @chimp1984 for making this proposal.

Taking away all miner fees would enable small offers of $300 or under to be made more of benefit to both buyers and sellers.  This would likely result in more offers of $300 or less being made / taken.

I agree that the risk would be low considering the high bond amount.

I can see how merit hardens security but I also think it would decrease participation of sellers that would like to get involved. 

Sellers with bonds having having the ability to make feeless offers, and also a requirement to make enough trades to make the 100 BSQ/month or equivalent, plus profit, could lead to a saturation of small offers from those sellers. This level of saturation, loss of some aspects of privacy, and also counterparties able to take offers at no fee with no penalty for late payment, no payment, spam, bad intentions etc would may be off putting to potential sellers wanting to use such a system. 

**To protect against privacy**
If merit value where not to be used it would require the trade to be proportional to an amount bonded say 50% Trades to bond. This would also give the level of security required but I assume would be more complicated to develop? This would also resolve the potential for over saturation of bonded sellers offers.

**To protect against late payment, no payment, spam, bad intentions etc** 
Maybe the lightning network could be used? Taker would pay buyer $5 worth of BTC equivalent over lightning network when taking offer before account details are released.

I think this proposal also helps lead toward a potential scenario of Bisq potentially being used to trade other small value assets off chain.

-- 
You are receiving this because you are subscribed to this thread.
Reply to this email directly or view it on GitHub:
https://github.com/bisq-network/proposals/issues/324#issuecomment-802390468
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.bisq.network/pipermail/bisq-github/attachments/20210318/e8facb7a/attachment.htm>