Hi All
When the Lightning Network begins to work, the Atomic Swaps will be available:
How will this affect Bisq? Can Atomic Swaps be used for anything other than changing Alts by Bitcoin? Would it be useful to exchange Fiat by BTC?
According to what I am reading it seems not, because FIAT is not available in a blockchain.
Hmm well maybe if we get Bank-Chained/Blockchained-Fiat.
I’m also curious about how lightning will effect Bisq!
Yes, but if we trade from a bank blockchain, that goes against bisq’s privacy protection philosophy
I think the days where people want to convert to fiat are counted. Probably it becomes more important how to earn Bitcoin in future.
Probably. But it still might take quite some time to make a full switch.
Allow me to necrobump this thread about atomic swaps, in the context of Altcoins. Is it technically feasible for Bisq to implement exchanges as atomic swaps for altcoins that support that (instead of the usual multisig protocol), for lower cost and higher speed?
Atomic swaps are useless without a platform for finding counter-parties, and Bisq seems perfect for filling this void.h
For example, BEAM supports swaps with BTC, LTC.
https://beam.mw/
What is Bisq’s team outlook on integrating atomic swaps? Possible? Desirable? Doable?
I think it might be doable but I imagine it would require dependency on either a full node or some federated node of the coin that’s being swapped to. That would be a requirement that’s rather heavy and I don’t see that being implemented.
Perhaps it would be possible to add some kind of swap plugin option for different coins to allow for the altcoin communities to implement that themselves. Not sure if it would be feasible, I haven’t read up enough how different atomic swaps can be made.
For now we’ll have BSQ atomic swaps. It works since BSQ is colored BTC so no other dependencies are needed. PR is currently awaiting review.
Maybe nice to know, BTDEX (a DEX on the BURST blockchain) wants to use atomic swaps (in the future?). I haven’t tried this DEX yet, but probably will in the future. However, BISQ still seems my place to go for buying crypto.