search

bisq-network / roles

@bisq-network contributor roles
https://bisq.wiki/Roles
16 stars 16 forks source link

BTC donation address owner ("Burningman") #80

Open ManfredKarrer opened 5 years ago

ManfredKarrer commented 5 years ago

Docs: https://bisq.wiki/Donation_Address_Owner Team: @bisq-network/donation-address-owners

burningman3 commented 4 years ago

I bought BSQ from the market as announced on Sun Jul 12. The mempool is very congested right now so I will wait with the next market buying event until it looks better. I am waiting for two big transactions from the donation address to get confirmed and I use 1 sat/b fee.

When I know it I will announce the date and time for the next BSQ buying event.

burningman3 commented 4 years ago

Report Jul 20 2020 - Cycle 15

Trades

I bought from the market on Jul 12, but the fees were very high before Jul 19 so I didn't buy from other users except the refund agent. Two big transactions are still waiting to get confirmed. BSQ-trades

BSQ Burning

BSQ burnt: 20000 preimage: 1jGzGkio hash: 8954c56d571b164b5a60619063202d99c04a8ec1 message: 1jGzGkioe7eZXF5IctAU6o_z1lOQj_mt signature: HyzYjm9rO1xcWXjtr7a2/MFqJPgJavUXQyJmoB68SMjwBOFQtK6O72VlzXDb/WT98/UUxQK9JfnifNF3p2a1DJk=

burningman3 commented 4 years ago

Right now transaction fees are very high. This makes it expensive to gather all the funds, and expensive to do the trading to buy BSQ.

I will monitor the situation. The plan is to buy on Sunday Jul 26, 18 CET. If fees are lower on Saturday I will announce here that the buy event will happen. If fees are still too high I don't know what to do.

burningman3 commented 4 years ago

Fees are quite high but they went quite low today so I will probably buy tomorrow at 18 CET. I have not been able to gather all the funds from trade fees yet, I will use what I have.

burningman3 commented 4 years ago

Fees look good, I will buy today, Sunday Jul 26, 18 CET.

burningman3 commented 4 years ago

The refund agent is no longer refunding large trades. I think this is a new situation that has not been discussed. I will continue to buy as announced, but I will not exhaust all the funds until there has been more discussion on what to do.

I plan to buy again tomorrow Sunday, Aug 02, 18 CET. The fees are quite high but I have managed to gather most of the funds.

ripcurlx commented 4 years ago

The refund agent is no longer refunding large trades. I think this is a new situation that has not been discussed. I will continue to buy as announced, but I will not exhaust all the funds until there has been more discussion on what to do.

The right place to discuss this is in https://github.com/bisq-network/proposals/issues/236.

burningman3 commented 4 years ago

Fees are low. I will buy tomorrow Sunday Aug 8, at 15 CET.

burningman3 commented 4 years ago

I plan to buy a little tomorrow Sunday Aug 16, at 15 CET. Not much is going to donationaddress anymore, I think the hack victims are getting it.

burningman3 commented 4 years ago

I will buy tomorrow Sunday Aug 23, at 15 CET.

burningman3 commented 4 years ago

Report Aug 24 2020 - Cycle 16

BSQ bought

I have bought from the market on Jul 26, Aug 2, Aug 9, Aug 16, Aug 23. The last few times there was not much BTC to spend. Most fees have gone to the hack victims. I also traded with the refund agent according to the refund agent reports. The high fees have been a problem making it expensive to consolidate all the small trade fees. The last weeks they were lower which made consolidation at 3-6 sat/byte possible.

Trades

trades1 trades2

Only one burning event this cycle. This was not often enough. Will burn if I have more than 20000 BSQ to burn going forward.

BSQ Burning

BSQ burnt: 66000 preimage: VCNvRGxE hash: 88224f5defa2f67bcc0ed5e75a19f4b0d25ea297 message: ZoPe04vx3qVDUB1wDhim-tnigxlEwbLJ signature: IN/iUZs5aAGvveTF6eGQV1LcopucMGJ/E5G4ZYYjSHHbD4UTftppNGQmgv6eIDcEHrmPNGffn8DRGQZxvipM7FA=

burningman3 commented 4 years ago

I will buy today, Sunday Aug 30 at 15 CET.

burningman3 commented 4 years ago

I will buy tomorrow, Sunday Sep 06 at 15 CET.

burningman3 commented 4 years ago

I will buy tomorrow, Sunday Sep 13 at 15 CET.

cd2357 commented 4 years ago

@burningman3 for even lower fees, try mornings CET.

Every day around noon (13 UTC, or 15:00 CET) there is a broadcast of transactions from BitMEX, which brings the fees up for a few hours: https://b10c.me/mempool-observations/2-bitmex-broadcast-13-utc/

Mining fee might have a measurable impact, cause I imagine these "burningman" transactions occupy a lot of block space (using large amounts of utxos as inputs, from the many fees traders paid). Since a Bisq trade (in this case, selling BTC for BSQ) involves 3 on-chain transactions, that fee delta is paid 3x.

So trying to squeeze out even a few sats/byte by aiming for a lower mining fee probably makes a considerable difference IMO.

burningman3 commented 4 years ago

I consolidate when enough transaction have built up. I try to do this when fees are low, 3 sat/byte in the recent consolidation transactions.

The fees for the Sunday trading are not too much compared to the consolidation so I will stick with the 15:00 CET.

That said, I will buy tomorrow, Sunday Sep 20, at 15:00 CET.

burningman3 commented 4 years ago

Report Sep 23 2020 - Cycle 17

BSQ bought

I have bought from the market on Aug 30, Sep 6, Sep 13, Sep 20. Consolidation has been possible at 3-5 sat/byte. A substantial amount of BTC is being kept for refund cases that have been accepted in DAO voting. It is still not clear if this is the job of burningman to trade directly with these users or just trade with the market.

Trades

trades1

BSQ Burning

BSQ burnt: 44000 preimage: wC3W17K9 hash: 99259449f3af6f3faf16c47a99df58cca269a03e message: ShCbUeuBzUCe-cwTFC2nynclL3e-4PMC signature: IHr/OPKrGgcS8nmaL2WCUbHYMAoesrk1y3sGPL7/2RT/WtdwF4R1KNfUx5plLLdycwADXDT+YE98mFr0wbj/Uxs=

burningman3 commented 4 years ago

I will buy tomorrow, Sunday Sep 27, at 15:00 CET.

burningman3 commented 4 years ago

I plan to buy tomorrow, Sunday Oct 04, at 15:00 CET.

Fees have been high, this could limit my purchases, but looks like the lower weekend fees are here.

burningman3 commented 4 years ago

Update on reimbursement

I have traded with @invertedbobb for the amounts in https://github.com/bisq-network/support/issues/500 and https://github.com/bisq-network/support/issues/502. This then required a burn event.

BSQ Burning 2020-10-08

BSQ burnt: 87000 preimage: gMtgskJj hash: 1445d37ab274c9e15a6f04eff1d5f5d62f086c30 message: Nfh_PpJ8YleZIzTukl-BT3QZ1ZXJm0qm signature: H7tkntIjeZDGa0/+Pb+BrvbXy7AUCoDMN48ByvyLiWS4VbaxmcpVF2UEeg5cHkTjZYWmK9tor+MEGBJVczGPjXo=

burningman3 commented 4 years ago

I will buy tomorrow, Sunday Oct 10, at 15:00 CET.

burningman3 commented 4 years ago

There have now been two occasions of failing to take an offer due to the maker changing the price during offer taking. I won't be able to complete these trades. Users should talk to support about a refund of the maker fee and developers should fix the issue.

burningman3 commented 4 years ago

I will buy tomorrow, Sunday Oct 18, at 15:00 CET.

burningman3 commented 4 years ago

Report Oct 23 2020 - Cycle 18

BSQ bought

I have bought from the market on Sep 27, Oct 4, Oct 11, Oct 18. Consolidation has been possible at 2-4 sat/byte. Two larger reimbursement cases have been handled, as documented in https://github.com/bisq-network/roles/issues/80#issuecomment-705520441

Trades

trades1

BSQ Burning 2020-10-23

BSQ burnt: 25000 preimage: 6cb6ICU3 hash: 784e7c31af7fa491e81c5e8d179a5476d8f03f94 message: 5pS-sGIri6YwJ1Hy70r4bny73YAnQe-I signature: IMCgJhuhMqZFvyJj+I1R5lEn7IdFX28fu1ztzHVL2AaMJ/dxEQaufNT/hInGQR7qH6nf3sEAimTMxT1JAyXTEiU=

Audit

This is my spread sheet for checking the refund cases. bm3_audit.xlsx

burningman3 commented 4 years ago

I will buy tomorrow, Sunday Oct 25, at 15:00 CET.

burningman3 commented 4 years ago

It's unlikely that I will be able to trade this week. The cost to consolidate the fees will be higher than the value due to mining fees being high.

burningman3 commented 4 years ago

I will buy tomorrow, Sunday Nov 8, at 15:00 CET.

burningman3 commented 4 years ago

I have created two new addresses. One for receiving fees and one for payouts. Fees: 38bZBj5peYS3Husdz7AH3gEUiUbYRD951t Payouts: 34VLFgtFKAtwTdZ5rengTT2g2zC99sWQLC

burningman3 commented 4 years ago

I will buy tomorrow, Sunday Nov 15, at 15:00 CET.

BTC fees can now be tracked looking at incoming transactions to 38bZBj5peYS3Husdz7AH3gEUiUbYRD951t

burningman3 commented 4 years ago

I think the fees are no longer paid to 38bZBj5peYS3Husdz7AH3gEUiUbYRD951t. I can see more fees in the old address since one day.

burningman3 commented 4 years ago

I will buy tomorrow, Sunday Nov 22, at 15:00 CET.

burningman3 commented 4 years ago

BSQ Burning 2020-11-22

BSQ burnt: 66000 preimage: kceL2J24 hash: da269ed3bfd6e5c4de1ee5e00086c3240e09f86c message: pm2niZ511LY9DFIpxGdPrhcW3rid18bz signature: Hx7io0bo0rqCXSj2GDj3GPmY9OMWlV6nllsebLeZA0uYBwmrB8JGsIIVkqDIYCYLgNnYkqUMZuimaDFN2wmVpoo=

burningman3 commented 4 years ago

Report Nov 26 2020 - Cycle 19

Consolidation of fee payments has been good except for the week of Nov 1 when no trading was possible.

Trades

trades-20201122

Addresses

I have set up two different addresses for fees and delayed payouts. I will make a DAO request to change the donation address to 34VLFgtFKAtwTdZ5rengTT2g2zC99sWQLC.

Fees should be paid to 38bZBj5peYS3Husdz7AH3gEUiUbYRD951t.

burningman3 commented 3 years ago

I will buy tomorrow, Sunday Nov 29, at 15:00 CET.

leo816 commented 3 years ago

My Team Lead review is complete and I approve this request. Please submit your DAO proposal and paste the transaction ID here as a comment when complete, thanks.

MwithM commented 3 years ago

@leo186 you need to fix your team lead reviewer bot. :smile:

burningman3 commented 3 years ago

I will buy tomorrow, Sunday Dec 6, at 15:00 CET unless transactions get stuck due to fees. There are less fees than usual this week.

burningman3 commented 3 years ago

I will buy tomorrow, Sunday Dec 13, at 15:00 CET.

burningman3 commented 3 years ago

I may buy Sunday Dec 20, at 15:00 CET, depending on ability to reconcile the transactions. Current mining fees are too high.

burningman3 commented 3 years ago

I will buy tomorrow, Sunday Dec 27, at 15:00 CET.

burningman3 commented 3 years ago

BSQ Burning 2020-12-27

BSQ burnt: 58000 preimage: 5MxTAcZS hash: 737e4c06b627f60abab8cdb3292d66980f7056c6 message: i-dDYzWY1Ue64sT2Qlhi0krlm4BBbeIq signature: HxbVYhhzkk4ynDmJ3jTTbBOgHEzDrLOzy1VqddcL2nJ7So1ynwIWFpaxu+c1vQRmAPL9jDxI2VBFjId/B1/M44A=

burningman3 commented 3 years ago

Report Dec 29 2020 - Cycle 20

Consolidation of fees has been easy on weekends. The amounts are smaller but I think that is due to the higher price of BTC. Probably the USD amounts are similar to the previous cycles.

The separation of fee address and donation payout address has been very helpful to separate those flows. Some fees are still coming to the old address, but not much. Fees: 38bZBj5peYS3Husdz7AH3gEUiUbYRD951t Payouts: 34VLFgtFKAtwTdZ5rengTT2g2zC99sWQLC Old combined payout/fee address: 3A8Zc1XioE2HRzYfbb5P8iemCS72M6vRJV

With the new refund agent we should have a better spread sheet for following what is going on.

Trades, first one since last report highlighted: trades-20201229

Trade history csv export. tradeHistory-20201229.txt

burningman3 commented 3 years ago

I will buy Sunday, Jan 3, at 15:00 CET.

burningman3 commented 3 years ago

I will buy Sunday, Jan 10, at 15:00 CET.

burningman3 commented 3 years ago

Today's trade event is cancelled due to the DAO having issues.

burningman3 commented 3 years ago

I will buy Sunday, Jan 17, at 15:00 CET.

burningman3 commented 3 years ago

I will buy Sunday, Jan 24, at 15:00 CET. Mining fees are too high to consolidate the lowest fees. There are almost 2000 waiting for lower fees now.

ifarnung commented 3 years ago

10 sats per byte seems very reasonable, this month, to use as a fee to consolidate Bisq transaction fees. It does not make sense to me to just skip utxo consolidation because you can't get it for 2 sats per byte this month. It could be months of waiting before txs at that 2.0byters rate confirm, and it can certainly get more expensive than 10 sats per byte.

Just my 2 sats.

burningman3 commented 3 years ago

I consolidate the larger ones above 10 sat/b but the smaller ones are completely spent on fees above 33 sat/b. At 10 sat/b that means spending a third of the bisq fees on mining fees.

ifarnung commented 3 years ago

EDIT: I just checked the donation address and see that most txs went through at 3-4-5 sats per byte. Very nice. That's about the cheapest you will get it done this week, and very well timed in the weekly lull. Great job!

EDIT 2: I just noticed the txs were unconfirmed, but let's hope they get mined! :)

Yeah, I took a closer look at the numbers after posting my original comment and I estimated about 25000 sats per 1 .0 sats/byte on a 265 input tx, such as the ones you have created in the past.

So 265 x 5000 sats = 1,325,000 sats which at 10 sats would be 250,000 sats in fees. So I agree. fairly steep price. Right now, consolidating at 4-5 sats per byte would be 125,000 sats in fees, and that maybe as good as is gets for a while.

I suppose it's ok to wait even longer hoping for fees to start confirming at 1.0 sats per byte. I'm just curious what is the plan for Bisq in the case that sub 2 sat txs don't confirm for the next month, or several months, or this year?

If Bisq can't get paid in a timely manner with the 5000 sat minimum fee because it's getting too close to dust, maybe it's time to raise the minimum fee?

In the meantime the small UTXOs continue to build up.