[bisq-network/proposals] Bisq 2.0 - A simplified DEX (working title Sisq) (#331)

Manuel notifications at github.com
Sun May 2 12:10:07 CEST 2021


What a great insight @Flix1!!   I love the analogy with the bazaar and how you have analyzed it.  

Regarding UX, I am no expert at all either.  But I'll throw a couple ideas:

- **Proof of ownership:** If possible, and of course optionally, if the buyer/seller has an easy way to proof ownership of the asset (i.e. a signed message of an unspent BTC UTXO), that could be enough assurance for small quantities.  An UTXO that does not honor its compromise could be easily called out .   I don't know if in LN a similar poof of ownership is possible

- **Using trade history as reputation:**  I know this is bad for privacy, but maybe it is worth the tradeoff for the asset owner.  Maybe some users do not want to be KYCed, but are more than ok with private enough transactions (pseudonymous).  This would be a context where privacy is not a must, but an option (more grey scale than black / white).   For example, the history of a chain of UTXOs that behave accordingly to its trade history within Bisq, might be a good enough reputation mechanism.  Let's say for example an UTXO of 1 BTC that comes from mining or from a coinjoin, and starts in Bisq selling chunks of 0,05 BTC.  The trades of this trader could be very easily chained together, but he would be pseudonymous, especially if he selling against other pseudonymous assests like USDT, L-USDT or other altcoins.

- **Slicing down a trade into small chunks:**  Coinfeinne style.  Users agree on their own on how to do it.   Something like this could be probably the best choice for first time buyers that only own fiat.  They can do this in LN, and then consolidate later in BTC layer 1 if they want, if it is worth the mining fees.  And then trade in Bisq with bigger quantities and full featured security mechanisms.




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