Thanks, and how and where i could use lighting network?
Hodl Hodl has implemented it.
devs, wen segwit ?
Today bisq wanted to charge me 223% of mining fees…, of course i did not make the transation but after i moved funds by coinomi and i chose a low rate of satoshi/byte and it has worked well, so, i come back to bisq discussion, this plataform has to do something because if not it is impossible for new users to start because if you buy btc in 10000 $ it cost to you 12500, and this is to much. Thanks
The mining fees are independent on the amount, so for small test trades they can be very high in relation to the trade amount (223%) but for big amounts that % value would go down to 0.01% (e.g. 1 BTC trade with 10 000 USD and a miner fee of 10 USD.
There are open tickets since long with requests for developers to use a better fee estimation service than earn.com which is used and which is very bad and overpays often. But the Bisq devs are too busy with other high prio stuff and there is a shortage on devs anyway ;-(. https://bitcoiner.live/ and https://whatthefee.io/ would be good candidates to use instead. Any Java dev could implement that, its just reading calls from an API…
Setting the fee estimation too aggressive can disrupt the trade experience heavily if a transaction never gets confirmed. So it is not only about the delay (which also would lead to more dispute cases) but also to have more problems with never confirmed txs and the need to resync your wallet (BitcoinJ is not handling that well).
Also consider that high fees happen usually at times of high volatiility. Delays might lead to big price changes between take-offer time and settlement time, again increasing dispute rate and lowering user experience. So there is no easy solution to that.
Native segwit was on the shorterm roadmap but the BitcoinJ dev we had has left recently ;-(. So again shortage on devs…
Beside all that there are longterm plans to move to an offchain trade protocol. See https://github.com/bisq-network/proposals/issues/32
That would eliminate the fee problem in a similar way like lightning network. But that will require also more devs and also that the Bisq DAO and BSQ are more established in the Bisq userbase.
Seems to be a chicken and egg problem then.
Fees deter users, less users mean less devs and less money to pay them. Vicious circle indeed.
Hopefully while we wait for someone to pick that back up again https://github.com/bitcoinj/bitcoinj/issues/1869 gets done.
BIP 44 is implemented in the BitcoinJ version of Bisq.
It is about 49&84 mostly. Anyway we need to get developers to get the issue list down and more and less important things in.
ok, thanks, i like bisq because it is truly descentralize but the fees are hihg for low volume and as a new user only can buy 0,01 btc, so…, it is a problem…, anyway: when could i buy more than 0,01 btc, i have read it was a month but still i can not buy more than 0,01 btc? Why?
Those limits are in place to counter fraud. There is a proposal in development but has yet to be finished.
I agree, but this is not my point, my point is: I have already 1 month in Bisq, and I remember reading that these limits would be increase until 0,02 btc after first montk, or maybe i am in a mistake, and I should remain in 0,01 btc as limit to purchase forever, i do not know
It was something like what you say in the past, before some chargebacks from a user were made a few months ago. Now, you and all “new” accounts (created after May) still have a 0.01btc trade limit and it won’t be raised until the security measures are adopted.
It was debated if your limit should be 0.02 btc to reduce pain for new users. That change wasn’t done, but on the next release things will be back to normal and you will be able to raise your limit over 0.02btc.
Read the full twitter thread, there’s more info.
Ok, thanks, i hope the limit will raise soon
And i am complainig about it because the last three days it was not any offer visible for me, no offer match with my limits and so it is a bad thing: I want to buy, there are offers but every offer is invisible, i can not open it
I know, the situation is ugly for new users, which most of the time are BTC buyers. But even worse are scams, so that is the priority now.
off chain trading would really really really hurt safety of the transactions! the reason im so fond of multisig is that its backed up by 60 hhashes of mining power. I love the ligthning network, but its just not as secure, and so is none off chain transactions.