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bisq-network / growth

Bisq exchange growth experiments
https://bisq.wiki/Growth_team
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⚡️ Bisq Market Day - March 20th 2023 #274

Open leo816 opened 1 year ago

leo816 commented 1 year ago

This is a Bisq Network proposal. Please familiarize yourself with the submission and review process.

Summary

Following the 2018's proposal to create more liquidity on bisq, perhaps it's a good time to revisit this idea and give it another push. I believe it worked quite well back then and although it didn't reach the objectives it was a great starting point.

Proposal

On March 20th 2023 we will try to get as many people as possible to place offers on Bisq as a way to kick-start liquidity and also launch the newest release. Bisq 2.0.

Objective

Reach maximum number of offers published during 1 day. If we can reach 1000 offers published on one day we will see a new high in number of trades.

Please add a 👍 below if you will participate!

PakorVM commented 1 year ago

Through the month I was working into getting the communities from Venezuela, Argentina, Malaysia, Japan, Colombia and, Turkey to use Bisq, they all have similar feedback for why they didn't end up using Bisq even on market day:

-Needing to have your computer turned on for offers to appear -Lack of mobile app -Usability -Low liquidity

In countries like Venezuela, Argentina, Colombia and Turkey they all added to the list the same thing: -100K sats as the security deposit is too much for them -They all would like to trade with stablecoins since they trust stablecoin issuers more than they trust their FIAT.

They are all waiting for Bisq 2 so they can use Lighting for smaller quantities and Bisq Easy's reputation system.

Japan on the other hand is ok with the security deposit but they've told me that they would like to have a way for offer makers to vet offer takers.

The other communities saw no other drawbacks, but in the end, liquidity seems to be the biggest problem for all communities, they all wanted to help Bisq in its mission but all of them ran away the moment they saw there was no liquidity for their respective markets.

RadishXN commented 1 year ago

During the Market Day event, I found some Chinese Telegram groups and invited them to try Bisq. The feedback I received mainly focused on incomplete translations, lack of a mobile app for convenience, insufficient beginner guidance, and the need for proxies to use Bisq in China. The main advantage mentioned was absolute anonymity. Overall, the lack of convenience is the biggest obstacle for Chinese users, and they need personal guidance on how to use Bisq.

Based on this feedback, I suggest that the Bisq team take the following measures to improve trades in the Chinese market:

By the way, I made this poster try to help. Bisq (1)

flix1 commented 1 year ago

Paid @RadishXN 600 BSQ for CNY market making. Paid @Jayboi23 600 BSQ for NGN market making.

Please thumbs up to publically confirm received.

Jayboi23 commented 1 year ago

In the market day, I tried all I could to invite traders from Nigeria to use Bisq, though some of them loves the idea but the challenge there is the fact that Bisq is desktop based. I discussed the issue with Mr Felix and I love the fact that the issue was discussed on the live discussion on YouTube on the market day and another thing is that most people don't have full understanding of BTC in Nigeria. In view of these, I would suggest:

apemithrandir commented 1 year ago

Very useful feedback @Jayboi23, @RadishXN and @verdeja!

With Bisq v1 being exclusively On Chain it will be a challenge to facilitate smaller transactions. I could still see some local players in Venezuela, Argentina, Colombia and Turkey potentially using Bisq to buy or sell +1m sat transactions and maybe using a trust/non-escrow based process to distribute proceeds from smaller quantities. With Bisq Easy launching this year, this will be an escrow-less trust based application for P2P bitcoin.

With Bisq v1 liquidity issues for less liquid markets we have one feature that is in development which may help. The ability to share escrow across multiple offers at once: https://github.com/bisq-network/proposals/issues/402

The points on keeping offers Live are very valid and something I have ran into myself. If you are a power user who runs a 24/7 node (on a reasonably powerful machine not a RasberryPi) then I would strongly recommend to look at my guide on how to use XPRA on a headless server to keep Bisq running 24/7. Again this is only useful for power users with the current software and I agree this should be addressed at some point in Bisq v2. https://github.com/apemithrandir/self-hosting-guide/blob/main/headless-bisq/GUIDE.md

On the Mobile App, this takes some extra considerations. Bisq operates as a Node in a decentralised network. I think you could have a mobile app that could connect back to a headless version of Bisq that you run at home on a 24/7 server but anything less than this would be a loss of the decentralised nature of the software. I am not saying it isn't possible to have a mobile-only solution (without at-home-server) but careful considerations must be made.

Most importantly at the moment the Bisq2 development team is lacking in resources. Here is the repo activity for Bisq2: https://github.com/bisq-network/bisq2/graphs/commit-activity Last year we lost some developers from the project. If anyone knows of any developers who would be interested in contributing please reach out to them. The number of developers on Bisq is quite small compared to the work to be done. Bisq developers are paid from the DAO, so I'm not asking for charity!

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