This is probably true. As a long-time Bitsquare/bisq user I find it unfortunate that the number of active users is still in the sub-hundred range.
The number one factor limiting the growth of bisq IMO is that most users that exchange cryptocurrencies on a regular basis don’t run wallets on their own devices. Using bisq with hosted wallets only is rather pointless, as you might as well do conversions on the exchange or through the app (e.g. Jaxx allows you to convert with ShapeShift)
If you assume that perhaps only a few percent of potential users run wallets locally (I am guessing LESS than 1 percent if you exclude spv/light/mobile wallets running on devices not supported by bisq), then this is the potential user base that bisq taps into.
A second factor limiting bisq’s growth is the sometimes very long exchange times. Even transferring funds into an exchange and wait for confirmations both ways is typically faster than the time it takes for your trading partner to complete the trade on bisq.
Obviously, the lack of active users means low liquidity and large spreads which further deters new users.
I agree that a degree of evangelism is crucial. In addition to that new, users also need to STAY and for that you can:
- help by providing liquidity, as is possible, to 1 or 2 markets
- follow up your trades in a timely manner to improve first-user experiences