[bisq-network/bisq] Bisq 2 social trading concept (Discussion #6011)

[chimp1984]

I have not thought myself too much about the social trading/reputation based trade protocol (we should find a sticky name for it- I stick with `social trading` for now until something better come up). But to get the ball rolling it might be good to share my rough ideas. Please note that all is very preliminary and totally open to change. Just a very first sketch...

- Target are newbies who have no Bitcoin, users who want to get their frist experience with Bisq by a more human guided/social way or traders who like the social aspect and want to engage in interaction with other traders
- There are chat channels for several major markets (BTC/USD, BTC/EUR) and one for other niche markets
- Traders can post their offers in a structured text form to the channel but users can switch the channel display to see only those offers, excluding other chat text. If that would not work out that well from UX we could have a separate offer book table with the offers.
- Structured offer text is created from s simplified create offer screen and the text derived from that. So that makes it easier for processing/filtering but still stays in the chat message flow. Those offers will though get a graphical indication to be easier to find.
- Users still can post any text as intention for trading, so the structure format is not enforced
- Traders can contact others to engage in a private chat
- Traders can take an offer (there will be a take-offer button/icon when the chat text is an offer) and by that open a private chat with the maker. The offer stays online and gets only removed manually by the maker (perpetuum offers)
- It is only for BTC to fiat
- BTC sellers need to have reputation earned by burned BSQ
- BTC sellers create a custom user name which might clash with existing ones but it get extended by a short phrase derived from the pubkey hash and an icon (e.g. cool robot icon) which in combination should create a unique impersonation-proof identifier
- The newbie buyer can create also their user name but can skip that to get a randomly generated one. For them reputation is not important.
- The buyer need to send fiat first. After receipt the seller release. This can have a delay of max 2 days (TBD) in case there are chargeback risks with the chosen payment method.
- The seller can post offers as well as the buyer
- The price premium carries indirectly the trade fee. The seller pays the trade fee by burning BSQ.
- There is a min. amount for burned BSQ of 50 BSQ (TBD) and it will give the seller 1 months (TBD) access to be in that market. After that time the seller need to burn again min. 50 BSQ. Some variations of that model are possible...
- After the trade the buyer is requested to provide feedback which will be publicly visible to others. That way others can see the number of past trades of a seller and the feedback score. 
- The buyer can optionally write text as feedback. But to select a 1-10 star rating should be mandatory if UX allows that.
- Also the seller can/should leave feedback but its less relevant for the system
- The chat should be accessible after the trade at least for a certain time period. To auto delete chat content after some time (e.g. 2 weeks) would be good also to decrease potential privacy risks.
- After the trade the buyer will get displayed some tutorial-like educational screen to learn more about Bisq so that they get prepared for the standard trade protocols.
- Price premiums can be expected in the 10-15% range. So that can be used as motivation that users move on and only use that protocol type for introductionary trading. 
- Mediation support is available in case of problems but they cannot really help to resolve hard conflicts but only try to help. Their judgement thought can be included in the traders profile, so a trader getting too many problems will lose reputation.

How to become a seller for the "social trading" channels?
- Sellers are expected to be experienced with Bisq and the DAO.
- They either have already some BSQ or buy BSQ on Bisq 1 (as long DAO and BSQ swaps are not integrated in Bisq 2)
- They go to the "Proof of Burn" section in the DAO menu and set the amount (min 50 BSQ) and add as pre-image their pubkey hash from their Bisq 2 social trading identity.
- After 1 confirmation that tx is usable as proof for the burned BSQ. As long the DAO is not integrated in Bisq 2 we use a bridge solution to move that DAO tx data over to the P2P network in Bisq 2. TBD how exactly to do that.
- In Bisq 2 the proof is visible after the bridge has published that data and the buyer as well as any trader can see the burned BSQ attached to the user profile
- The accumulated burned BSQ over longer period of time is visible as well. The reputation grows with each additional burning. Time period is an important aspect for reputation. E.g. a trader who was active 6 months with 50 BSQ each month is more trustworthy than one who is new with 300 BSQ burned as being longer active are equivalent to "repeated games" and shows more commitment. 


We could extend the proof for reputation to other means like social media accounts, BSQ bond,... and other markets (altcoins, stablecoins) but I think it might be better to have first one more constrained version and see how well that works and if there is demand for more options. Also the burning BSQ solves the fee problem which is not the case with other options.  
Adding more options would make it more complicate as well and that would counter the primary goal of that protocol.


Any feedback welcome!

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