Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

A decentralized Bitcoin exchange

github.com

Post reply on HN
Print view View original

111–117 of 117 posts

Re: A decentralized Bitcoin exchange

#111

Post by Jaepa »

ManfredKarrer wrote: post #104
Jaepa wrote: post #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 t…

Yes the trader can select his arbitrator. The arbitration system got a conceptual change with the upcoming DAO and will be secured by locked up security deposit of the arbitrator as well as an introduction of a mediator who will cover most cases and who has no key to the 2of3 MS. See: https://docs.google.com/document/d/1DXEVEfk4x1qN6QgIcb2PjZwU... Most arbitration cases are customer care cases and there have been act…

Huh. I thought I saw in the documentation there are references to securing the master DHT, though I did see references to something called TomP2P. I'm no in a place where I can go back through the documentation for this though.

My original question I think still applies how every so I'll try and rephrase it: Is there a way to secure the Peer Discovery service in such a to secure against creating a secondary network of peers, then running a bookkeepers odds scheme. (Using the secondary marketplace as an options market for transactions on the first)

Re: A decentralized Bitcoin exchange

#112

Post by lordnacho »

ManfredKarrer wrote: post #101
lordnacho wrote: post #75

Earlier quoted context omitted.

But often they are using a stolen account, which is the whole reason why the bank is willing to issue the chargeback. If you can steal a lot of accounts, you don't care.

We have an open discussion about that topic and additional protection mechanisms which are planned for the next months here: https://forum.bisq.io/t/new-requirement-for-payment-accounts... Some facts: We had about 4500 trades with 2500 BTC in one year and there have been only one charge back case with 300 USD (via ClearXchange). If we get more issues with charge backs on ClearXchange we will remove that payment metho…

Experiences differ. A guy I knew started trading BTC and pretty much the first customer did a chargeback. And he wasn't the only one.

Re: A decentralized Bitcoin exchange

#113

Post by benjaminmbrown »

Animats wrote: post #65

The fundamental problem with this is the same problem Ethereum has - the hooks to the real world aren't very good. Making them better implies trusting a third party. If you have to trust a third party, why do you need this?

uport and reputation systems aid this

Re: A decentralized Bitcoin exchange

#114

Post by ManfredKarrer »

lordnacho wrote: post #112
ManfredKarrer wrote: post #101

Earlier quoted context omitted.

We have an open discussion about that topic and additional protection mechanisms which are planned for the next months here: https://forum.bisq.io/t/new-requirement-for-payment-accounts... Some facts: We had about 4500 trades with 2500 BTC in one year and there have been only one charge back case with 300 USD (via ClearXchange). If we get more issues with charge backs on ClearXchange we will remove that payment metho…

Experiences differ. A guy I knew started trading BTC and pretty much the first customer did a chargeback. And he wasn't the only one.

Which platform did he used? And which payment method? Paypal for instance is super insecure, that's why we did not support it.

Re: A decentralized Bitcoin exchange

#115

Post by ManfredKarrer »

gcb0 wrote: post #83
thinkloop wrote: post #60

Earlier quoted context omitted.

I believe the safety is in that you can't frequently issue chargebacks. Once, twice, but eventually the bank starts investigating. It's not a scalable scam.

most organized crime that scale have people inside the banks. trivial to find some small Swiss Bank that will make a deal with a criminal to allow thousand of chargebacks in one day. and that's the danger, not your average cc dump buyer.

If one is inside the bank he can rob the bank itself. I doubt that in Switzerland that is so easy. Do you have any sources for that claim?

Re: A decentralized Bitcoin exchange

#116

Post by ManfredKarrer »

Jaepa wrote: post #111
ManfredKarrer wrote: post #104

Earlier quoted context omitted.

Yes the trader can select his arbitrator. The arbitration system got a conceptual change with the upcoming DAO and will be secured by locked up security deposit of the arbitrator as well as an introduction of a mediator who will cover most cases and who has no key to the 2of3 MS. See: https://docs.google.com/document/d/1DXEVEfk4x1qN6QgIcb2PjZwU... Most arbitration cases are customer care cases and there have been act…

Huh. I thought I saw in the documentation there are references to securing the master DHT, though I did see references to something called TomP2P. I'm no in a place where I can go back through the documentation for this though. My original question I think still applies how every so I'll try and rephrase it: Is there a way to secure the Peer Discovery service in such a to secure against creating a secondary network o…

Which doc are you referring? We used a DHT in early days but that was long before the launch. Maybe I oversaw to update at some place... There are 4 seed nodes to which you connect randomly at startup. They deliver you all known onion addresses in the network. From that list you select randomly peers until u have 8 connections. You also maintain your local peer list which will be used at follow up startups. I don't see a way how to partition the network. You get random incoming connections as well (e.g. if one takes your offer). The floodfill network architecture is very robust against eclipse attacks (dht problems) and partitioning. Thats why a floodfill architecture is used on Bitcoin as well.

Re: A decentralized Bitcoin exchange

#117

Post by zdkl »

zdkl wrote: post #106
giergirey wrote: post #105

Earlier quoted context omitted.

I agree you probably won't see much benefit if most of your transactions involve cash-in-a-bank-account or coins on non-Ethereum chains. However, if: - Ethereum continues to grow; and - we continue to see more and more successful/useful coins/tokens built on top of Ethereum (especially if asset-backed ones are accepted as payment); Then we're going to see a lot more coin-coin transactions that /can/ be done on-chain…

What I don't follow is why Ethereum is a good target to implement this type of program on. If you have the know-how to implement a bulletproof/trustable multi-token transaction clearing platform, why would you want to tie yourself to this platform? The only advantage I see for smart contracts is that it would allow you to implement security-like mechanisms without regulatory burden associated with the SEC and other f…

I should've bet on it.

https://news.ycombinator.com/item?id=14807779

Post reply on HN