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bisq-network / growth

Bisq exchange growth experiments
https://bisq.wiki/Growth_team
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Bootstrap USD/BTC liquidity #15

Closed ripcurlx closed 6 years ago

ripcurlx commented 6 years ago

Learning Goal/Objective

If we provide enough liquidity for the USD/BTC order book, we bootstrap the market for organic growth.

Hypothesis

If the experiment is successful, we predict to the total volume to grow by x (everyone placed its own bet) percent.

Experiment Design

Every participant on the experiment tries to keep two offers (1 buy, 1 sell with low distance from market price) open all the time to provide liquidity.

Resource Estimation and Probability

Low personal effort and High probability that it will succeed.

Results

- What happened? - Did we succeed or fail? - What data did we collect? - Anything unexpected? - How close have we been to our prediction? - Why did we see the result that we did?

Learnings

-What did we learn by running this experiment?

Action Items

- Another experiment for this goal? - How do we progress from here on?

flix1 commented 6 years ago

Before we can bootstrap USD liquidity we need to review payment methods and research which USD payment methods can combine security, fraud prevention requirements (no chargebacks) with speed and with a large user base.

flix1 commented 6 years ago

Localbitcoins has the following payment methods for USD: -Cash by Mail -OKPay ----> Bisq -Perfect Money ---->Bisq -Payeer -Transfers with specific bank ---->Bisq -Paxum -International Wire (SWIFT) -WebMoney -Cash Deposit ---->Bisq -Western Union ---->Bisq -Neteller -Other online payment: Revolut -National bank transfer: United States ---->Bisq -Payoneer

flix1 commented 6 years ago

Market making milestones:

Phase 1: Minimal order book (1 offer on each side, spread < 10%, total offered > 0.1 BTC) Phase 2: Retail order book (10 offers on each side, spread < 3%, total offered > 5 BTC) Phase 3: Trading order book (20 offers on each side, spread < 1%, total offered > 10 BTC) Phase 4: Wholesale order book (50 offers per side, spread < 0.5%, total offered > 50 BTC) Phase 5: Institutional order book (100 offers per side, spread < 0.25%, total offered > 100 BTC)

flix1 commented 6 years ago

Step 1 - we need to find a volunteer with a US bank account to experiment with National bank transfer: United States on the USD/BTC order book and discover if this could be used to replicate the success with SEPA for EUR/BTC.

ripcurlx commented 6 years ago

Was superseded by https://github.com/bisq-network/growth/issues/36.