People who use BitTorrent do not pay to download their videos, games and movies. How many people would actually use torrents if they had to pay 3% on the cost of everything they downloaded online to the person who created the Torrent software, when they actually have an option not to? This old model has a tendency to centralize power into the hands of those who are willing to be bought, and are looking out only for their own selfish interest and also stifle innovation and adoption rate. The new model incentivizes the need for quality products (movies, games, applications), in order for people to actually be willing to pay for them.
Well, here is my prediction of bitcoin cash & ethical altcoins future VS centralized bank digital currency & proprietary centralized crypto; All we have to do is look at past models to predict the future. Look at what bittorrent did to the movie and music industries, look at what it did to the software industry; look at what it did to the average computer user, now able to access any software, movie, song, or game ever created, for free. Its been unstoppable and has changed the face of all these industries and downloaders irrevocably. As a result software developers have created new innovations and mechanisms for these industries to make profit, like Adobes monthly payment model; Netflix and Itunes. My prediction is this, truly decentralized systems like bitcoin cash will irrevocably change the landscape of finance around the globe the same way bittorrent has; People will always have the option to watch or buy a movie, pay for software, pay for music; or they can download it freely via the internet, the same way people will always have an option to use BTC and other truly decentralized financial systems or use the currency issued by a given private institution or government; The majority of young people will opt to download freely and find alternate ways to access what is available to them (up and until they begin making a profitable living using the software that sustains them, and that will depend on the usefulness and quality of their product (be it digital currency or software). Think about that. Bear in mind we are the technological boomers; the landscape is going to change very rapidly in favor of the masses; Governments when it comes to bitcoin may try make an example out of 12-14 year old like they did with napster, to send a message to the world about their values and morals and ethics, and the dangers of defying the industries, but in the end its here to stay, and it will become more common and widely acceptable & available to the public than those sitting on the fence may presently believe, or even dream of.
Just like in last post, I am a bit of lost in this one as well. Even tho it kind of just seems like you are simply suggesting one thing and that is to have zero transaction fees.
This is not possible, transactions have to take place on a blockchain so that they are irreversible. Bisq currently supports 3 base currencies for this: Bitcoin,Litecoin,Dash.
In all of these you need to pay the mining fee so Bisq needs to pay that as well.
Further more, publishing an offer doesnāt require blockchain transactions, but could still lead to spam which would leave Bisq unusable, effectively executing a Denial of Service attack.
This is why there is a trade fee paid when offer is published.
So this is simply not possible. Torrents and blockchains are two very different technologies and Bisq uses both P2P tech and blockchain tech to operate.
Nothing anywhere on the net requires people to pay a fee to avoid spam, crypto exchanges are no exception. its just the whole concept of money has people in a materialistic mindset; bisq could simply automatically block ips of users spamming the system, and use a verification system to validate whether or not they are human. added, the mining fees may be necessary within the BCH blockchain protocol, and protocol of any given coin but NOT the exchanges.
There are plenty of ways spam is stopped on the Internet. Captchas are very commonly used for this. They pop up usually when you get a lot of requests form the same IP. In decentralized setting you canāt always track this and Bisq operates over Tor.
With privacy comes risk of spam. This has to be taken care of in some way and this is exactly what Bitcoin is all about. PoW was the real invention to stop spam in a decentralized way.
Bisq canāt use IPs, it runs over Tor for privacy. It needs to stay decentralized so it canāt use centralized verifications systems either, nor would it want to invade peoples privacy.
PS: Please stop editing posts to add points, it is hard to track and will lead to newer points not being answered. It is quite confusing.
spam filters may be necessary on blockchain protocol and protocolās of any given coin but this not the case in exchanges. So any claim that Bisq MUST require a percentage is taking the liberty to do so on top of the transaction fees already taking place inside a given blockchain protocol.
no need to used centralized verification systems, any more centralized than bisq itself, a bisq fork can use its own; at the cost of 0% fee transaction for every coin on the marketplace.
You are making this discussion quite messy with your posting behavior. Please be more organized with them. Think about the whole post, write it and then post it. Then donāt write the same thing again as well, please.
I have no clue what your point here is. Bisq must require a trading fee without the regard of mining fees as publishing an offer doesnāt require any mining fees. Without this fee practically all the offers you see in Bisq would be fake and Bisq would be unusable.
Bisq is decentralized, so I donāt know what you are referring to here. What verification system could Bisq use that keeps userās privacy and is decentralized?
So my prediction is this, a Bisq Fork with 100% free transactions will explode on the market and change the face of crypto forever; its just a matter of time.
alexej996:
Without this fee practically all the offers you see in Bisq would be fake and Bisq would be unusable.
Thatās already taken care of by any given blockchain crypto protocal; They are safe and secure and not designed to accept āfakeā transactions. not all bisq forks need to perform the extra layer of unnecessary work at the expense of the buyer and seller
bisq is decentralized, so I donāt know what you are referring to here. What verification system could Bisq use that keeps userās privacy and is decentralized?
Great question, Iām not sure, Iām not a programmer. Its a big world out there im sure its easy to find or copy
why is anybody using a piece of open source software to conduct transactions where transaction fees are being funneled guys like this. Try out a new model and run with it.
It seems like you do not understand how Bisq works, perhaps even how blockchain works.
What you said makes no sense. Blockchains donāt accept āfakeā ( I will assume this means invalid) transactions, this is true, but Bisq doesnāt use itās own blockchain and has no way of checking validity of the offer.
Offers are just a promise, you canāt check that computationally. In order to use a blockchain to stop spam, you need to make a transaction. This transaciton is the trade fee, plus it pays the arbitrators, which are people and will not do this for free obviously.
Most of us here are programmers to some degree and I other then PoW that blockchains use, I think most of us would agree that there is no way to do any other validation of offers.
I think mepistol is being sarcastic here
As it seems that you donāt really understand the topic you are talking about here, so he sees that if you were to learn and understand enough about he subject, you would see that this makes no sense.
You should probably start by learning about blockchains first, as I get the feeling that you donāt really understand that either.
Then you can look into Bisq and the way it locks trades with multisig and has arbitartors and all of that.
I know quite a lot about Bisq and how it works, yes
But I am not the developer, no.
What you read is correct, but you donāt really understand it, it seems.
It is more complicated then that.
There are different types of DoS attacks and some are unique to this platform and some are common for any Internet protocol. This quote is referring to the network layer, not to the actual correct functionality of the software. Computer security is a bit more complex then that, otherwise we wouldnāt be having hacks for decades now. Please read more about it before you post about it on the forum.
I assume he is very young and new to all of this. It could actually be quite impressive depending on his age.
