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A decentralized Bitcoin exchange

github.com

11–20 of 117 posts

Re: A decentralized Bitcoin exchange

#11
This is interesting, but I could see some possible issues.

It would be fun to ask the Devs some questions.

eg: if peers are able to select their arbitrators, how do you prevent a peer and & arbitrator from gaming the system. There is a secondary arbitrator but from the docs it looks like after the initial arbitration the funds are released.

Is there a way to protect against root DHT node hijack? Only refernce I see to this is a TODO: See how btc does this.

Re: A decentralized Bitcoin exchange

#13

Just finished watching their video and got nothing other than "Read our white paper if you're interested", plus bunch of buzzwords. Why make the video at all? If I were them I would scrap all the bullshit and just spend the two minutes in the video explaining the basics of WHY and HOW it works. People visiting that site already know what a "decentralized bitcoin exchange" is.

Their Github README is more descriptive

By running Bisq on their local machines, users form a peer-to-peer network. Offers to buy and sell bitcoin are broadcast to that network, and through the process of offering and accepting these trades via the Bisq UI, a market is established.

There are no central points of control or failure in the Bisq network. There are no trusted third parties. When two parties agree to trade national currency for bitcoin, the bitcoin to be bought or sold is held in escrow using multisignature transaction capabilities native to the bitcoin protocol.

Because the national currency portion of any trade must be transferred via traditional means such as a wire transfer, Bisq incorporates first-class support for human arbitration to resolve any errors or disputes.

Re: A decentralized Bitcoin exchange

#14

Just finished watching their video and got nothing other than "Read our white paper if you're interested", plus bunch of buzzwords. Why make the video at all? If I were them I would scrap all the bullshit and just spend the two minutes in the video explaining the basics of WHY and HOW it works. People visiting that site already know what a "decentralized bitcoin exchange" is.

Their Github README is more descriptive By running Bisq on their local machines, users form a peer-to-peer network. Offers to buy and sell bitcoin are broadcast to that network, and through the process of offering and accepting these trades via the Bisq UI, a market is established. There are no central points of control or failure in the Bisq network. There are no trusted third parties. When two parties agree to trad…

Asterisks around the block, no spaces indent. The latter is for mono space which is illegible on mobile.

Re: A decentralized Bitcoin exchange

#15

Earlier quoted context omitted.

Their Github README is more descriptive By running Bisq on their local machines, users form a peer-to-peer network. Offers to buy and sell bitcoin are broadcast to that network, and through the process of offering and accepting these trades via the Bisq UI, a market is established. There are no central points of control or failure in the Bisq network. There are no trusted third parties. When two parties agree to trad…

Asterisks around the block, no spaces indent. The latter is for mono space which is illegible on mobile.

> The latter is for mono space which is illegible on mobile.

Well, it's more the “explicit line breaks only” part of code formatting, rather than the monospacing, which makes it unreadable on mobile.

Re: A decentralized Bitcoin exchange

#17

Just finished watching their video and got nothing other than "Read our white paper if you're interested", plus bunch of buzzwords. Why make the video at all? If I were them I would scrap all the bullshit and just spend the two minutes in the video explaining the basics of WHY and HOW it works. People visiting that site already know what a "decentralized bitcoin exchange" is.

Their Github README is more descriptive By running Bisq on their local machines, users form a peer-to-peer network. Offers to buy and sell bitcoin are broadcast to that network, and through the process of offering and accepting these trades via the Bisq UI, a market is established. There are no central points of control or failure in the Bisq network. There are no trusted third parties. When two parties agree to trad…

Just some formatting help so that people can read this:

>By running Bisq on their local machines, users form a peer-to-peer network. Offers to buy and sell bitcoin are broadcast to that network, and through the process of offering and accepting these trades via the Bisq UI, a market is established.

>There are no central points of control or failure in the Bisq network. There are no trusted third parties. When two parties agree to trade national currency for bitcoin, the bitcoin to be bought or sold is held in escrow using multisignature transaction capabilities native to the bitcoin protocol.

>Because the national currency portion of any trade must be transferred via traditional means such as a wire transfer, Bisq incorporates first-class support for human arbitration to resolve any errors or disputes.

Re: A decentralized Bitcoin exchange

#18

Just finished watching their video and got nothing other than "Read our white paper if you're interested", plus bunch of buzzwords. Why make the video at all? If I were them I would scrap all the bullshit and just spend the two minutes in the video explaining the basics of WHY and HOW it works. People visiting that site already know what a "decentralized bitcoin exchange" is.

Their Github README is more descriptive By running Bisq on their local machines, users form a peer-to-peer network. Offers to buy and sell bitcoin are broadcast to that network, and through the process of offering and accepting these trades via the Bisq UI, a market is established. There are no central points of control or failure in the Bisq network. There are no trusted third parties. When two parties agree to trad…

This sounds like a decentralized LocalBitcoins specifically, not an online exchange.

Re: A decentralized Bitcoin exchange

#19

Just finished watching their video and got nothing other than "Read our white paper if you're interested", plus bunch of buzzwords. Why make the video at all? If I were them I would scrap all the bullshit and just spend the two minutes in the video explaining the basics of WHY and HOW it works. People visiting that site already know what a "decentralized bitcoin exchange" is.

Their Github README is more descriptive By running Bisq on their local machines, users form a peer-to-peer network. Offers to buy and sell bitcoin are broadcast to that network, and through the process of offering and accepting these trades via the Bisq UI, a market is established. There are no central points of control or failure in the Bisq network. There are no trusted third parties. When two parties agree to trad…

That's the "definition" of a decentralized bitcoin exchange, not an explanation, which means I already knew all that even before I clicked through the link. a decentralized bitcoin exchange is not a novel concept, anyone would have thought of the concept itself (you just need to take "bitcoin exchange" and think "what if it was decentralized?") and anyone could claim to have solved the problem, but what really matters is execution. None of that is in the video as well as on the website itself, almost feels like they're hiding behind their "white paper" just like a lot of academics write their dissertation in intentionally hard-to-understand manner so they won't get criticized easily.

It also doesn't help they have that immature quote "To change something, build a model that makes the existing model obsolete" as their tagline, which has nothing to do with the hypothetical value they claim to provide.

Re: A decentralized Bitcoin exchange

#20

Etherdelta has been doing this for ERC20 tokens for some time: https://etherdelta.github.io/

ERC-20 == scamcoin. Very different from this.

An ERC20 token is a token that conforms to the ERC20 protocol, that's all that ERC20 means.
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