I’m new to Bisq and I love the idea of a decentralized exchange! Thank you to whoever created this awesome application/tool!
I’ve been wanting to buy some btc on Bisq but haven’t seen any sellers in the past couple days when I connect to the network. All I see is buyers…, and only 4 peers total.
Is there a specific time of the day that the network would have more people connect?
There aren’t many users at the moment, that is true. You can always invite your friends that are interested in cryptocurrencies to join it
You can place an offer to buy Bitcoins and keep your client running until someone takes it. There might be some users that are just waiting for a good offer but it is more likely that the lack of btc sellers is for the same reason the Bitcoin price increased recently (the price rises when there is no one willing to sell for a current price).
I wonder if you could increase the liquidity by offering bisq services like FIAT gateway for some exchange, through an API. People could buy BTC in bisq and the BTC could be transferred to another exchange.
It could be very interesting for many exchanges that in this way would no longer need to obtain licenses to work with FIAT.
I am not clear whether this would be good or bad or would generate positive synergies for all parties. What is your opinion?
I believe Bisq was originally built for peer to peer trading. Having big professional exchanges could possibly decrease the privacy of the users. However it is not forbidden in any way in the protocol for big exchanges to use Bisq, as long as they follow rules of the protocol.
Perhaps Bisq client can offer an API so it can be used by other applications, as long as that is what the project wants to be. For now, it is just p2p and adding such support could lead to automation of the trading process, which would likely mean that some application will have a bunch of Bisq trades in it’s log file. I don’t know if that is what this project wants to be, but there is currently no way from preventing that from happening with an augmented code. If people want it, they will eventually make clients that use the same network, just offer these new client side features. There could be a way to prevent it tho if we want, for example by adding captcha generation on clients of both traders and then exchanging those capthcas prior to begging of the trading process, after the both traders validate each other capthcas, the trading usual trading process could begin.
We are working on APIs so altcoin trading can be automated. There are some 3rd party webpages who use Bisq already as “backend”. Beside that APIs will be interesting for trading bots…
Fiat will be hard as banks dont offer APIs, thus full automated trade will likely not possible. But will see, maybe some are like OKPay (they have APIs)…
What I really propose is this:
My motivation would be to transfer part of the liquidity of the centralized exchanges to Bisq.
The idea would be to offer the centralized exchanges a version of Bisq, which will allow its customers to exchange BTCs for FIAT.
The solution would consist of a additional Bisq app with no interface, active on the taskbar and with pop-up warnings. The exchange would offer its customers a link for download this Bisq version.
This could be very attractive for the exchange, because FIAT input and output would be the responsibility of the user through P2P, and the exchange would not have to go through a series of cumbersome legal requirements, avoiding responsibility for the management of the funds.
This application would be controlled by web services, or sockets, to handle the basic functions of the application: create a user with your payment method, put an offer, etc. I would also process the Bisq responses. The wallet for the BTC would be the exchange wallet.
Thus, the centralized exchange could use its own interface for the management of the operations that would be running on the user’s Bisq instance.
The rest of “pure” Bisq users would enjoy greater liquidity, thanks to the orders of users of centralized exchanges.
Before undertaking this development would be necessary to check if the market needs something like this. I suspect yes, for example Poloniex does not have a fiat gateway.
Finally I found a seller for a trade. It went smoothly!
Really like this decentralized exchange app and I will definitely spread the words