In a proposal for Bisq 2 a major change in the trading protocol is suggested with having BSQ bonds paid by traders.
The DAO/BSQ concept is already too complex for an average Bitcoin holder. And for now it is coherently optional to buy BSQ, hence holding stakes.
If mandatory BSQ bonds is added users are forced into DAO, giving a much higher threshold to start and continue using Bisq, with likely undesirable impact on exchange liquidity (including fees).
It is good the DAO module is optional to use now. A complete non-contributor can preferable disable it and get huge improvement in app performance.
Keeping things simple and optional by not enforcing indirect contribution with BSQ bonds (or BSQ fees) is a more future-proof approach imo.
performance is a big drag on the app with dao syncing causing problems with ram usage
That’s why the DAO module should be opted to contributors and BSQ stakeholders.
If not using it you can save resources with disabling the feature. Add ‘–daoActivated=false’ argument to the filepath in the program shortcut.
This option should of course be implemented in settings for convenience.
To clearify for people who still doesn’t understand:
If BSQ stakeholding will be mandatory, Bisq would be a contributors cooperative, narrowing it’s user base. With this “customer” model revenues from fees will certainly drop or stagnate causing the BSQ value to sink.
I agree that the platform should remain or become as simple as possible to attract more users. This means new crypto users as well as users that are trading crypto through KYC and custodial wallets.
More users will eventually grow the DAO project by default, even if it stays as an optional part of the network.
I believe we need to see the big picture and find a way to approach more users, guiding them to the better way of trading crypto. Providing compatibility like implementing Segwit for example and privacy practices when it comes to withdrawing funds or managing them. Perfecting the trade protocol between peers and adjusting the client being as bug-free and easy to navigate as possible. Then the DAO will grow on automatic mode.
When moving in that direction why not take a sidestep?
Introducing the Bisq exchange economy. Where BSQ is used as the main currency. Earn BSQ, sell BSQ, buy BSQ. All fees in BSQ. Eliminate fiat (charge-backs). All cryptocurrencies exchangable off-chain via BSQ.
Well well…, see now that Monero has top priority. Some nasty transition from BTC to XMR supported features is discussed. Is Bisq becoming a Monero trading community? Guess the present money flow is talking. Dropping growth plans from national fiat currency.
The v2 trade protocol is in eary discussion/concept phase and would not be mandatory but run parallel to existing Bisq v1 protocol.
If you think a on-chain trade protocol depending on miner fees is future proof, you assume Bitcoin will never conquer the world, because then miners fees will be probably very high and trading on Bisq as it is now veery expensive.
I understand that certain complexities are not welcome and hard to understand but keep in mind that Bisq without the DAO is doomed to fail as there is not enough incentives for developers and other contributors to improve and maintain the project. It is hard enough even with the DAO. A company based structure would not be compatible with Bisq’s requirement for censorship resistence, otherwise it get “Shapeshifted” like all the others.
So we need more devlopers who are incentivized to fix those issues by earning BSQ.
If you would have read the proposals and not just rumors on Reddit you would have noticed that what is in an incubator project is not more than a Monero wallet integration. XMR as base currency is not feasible for technical reasons.
Not saying that off-chain is all bad.
I would propose a Bitcoin layer 2 solution on the Lightening Network. All marketplaces will use this in the future. So you can omit off-chain trading using BSQ bonds and have one common trade protocol.
In the meantime Segwit to reduce fees should be prioritized. Bisq customers have been waiting a long time for this.
These are the widely accepted strategies on Bitcoin for cheaper and faster transcations. It can preferabe be adopted by Bisq.
Reddit rumours??? From what I can see on GitHub you are planning to remove the Bitcoin wallet and add a Monero wallet.
DAO is of course highly needed. Don’t misinterpret. All I am saying is that it should be opted to contributors and stakeholders not to bring unnecessary complexity to users. To sum up: Bitcoin layer 2 on LN is the solution. No BSQ bonds on traders. You have a modern trade protocol (off-chain) and only one application to maintain. There’s gonna be LN devs out there soon to join if needed.
Yes agree but could some of the DAO functionality be it’s own app for governance leaving the trading app (current bisq) simplified
Agree, since I don’t want buy BSQ because I am not interested in reduced trade fee, bonding, voting etc I have no use at all for DAO.