What is the point of the Minimum donation limit? I wanted to give you guys five bucks worth of Bitcoin, but the minimum donation level is around 38 bucks. Not exactly a low barrier of entry. I'm not interested in getting a wood wallet, but I am interested in getting my five bucks back if the campaign doesn't fund.
Just wondering why you chose to cut our smaller donations in the lighthouse campaign?
Its a technical limitation of the transaction size, so max. 680 pledges are possible. |
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I know that this topic is a bit out of date, but just in case you are still interested in a P2P Fiat-BTC exchange, I wanted to post an update of our project and announcement for our crowd funding campaign which will end in a few days (on February 9th). Bitsquare released an alpha version in December and it can be tested at our regular testing sessions with other traders (testnet). Today 17:00 CET we have such a session. Feel free to join us on our IRC channel #bitsquare-trading on Freenode. Further information can be found here: https://github.com/bitsquare/bitsquare/wiki/Bitsquare-WAN-PartiesRegarding the crowd funding campaign: We are using Lighthouse as decentralized crowd funding solution to iteratively fund the development of every milestone, leading to a fully functional version 1.0. The funding goal is 120 BTC for the next milestone and the campaign ends in a few days on February 9th. Please visit our web page for more details: https://bitsquare.io/crowdfundingIf you like to support that project please help us to spread the word. Best regards, Manfred |
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I know that this topic is a bit out of date, but just in case you are still interested in a P2P Fiat-BTC exchange, I wanted to post an update of our project and announcement for our crowd funding campaign which will end in a few days (on February 9th). Bitsquare released an alpha version in December and it can be tested at our regular testing sessions with other traders (testnet). Today 17:00 CET we have such a session. Feel free to join us on our IRC channel #bitsquare-trading on Freenode. Further information can be found here: https://github.com/bitsquare/bitsquare/wiki/Bitsquare-WAN-PartiesRegarding the crowd funding campaign: We are using Lighthouse as decentralized crowd funding solution to iteratively fund the development of every milestone, leading to a fully functional version 1.0. The funding goal is 120 BTC for the next milestone and the campaign ends in a few days on February 9th. Please visit our web page for more details: https://bitsquare.io/crowdfundingIf you like to support that project please help us to spread the word. Best regards, Manfred |
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I know that this topic is a bit out of date, but just in case you are still interested in a P2P Fiat-BTC exchange, I wanted to post an update of our project and announcement for our crowd funding campaign which will end in a few days (on February 9th). Bitsquare released an alpha version in December and it can be tested at our regular testing sessions with other traders (testnet). Today 17:00 CET we have such a session. Feel free to join us on our IRC channel #bitsquare-trading on Freenode. Further information can be found here: https://github.com/bitsquare/bitsquare/wiki/Bitsquare-WAN-PartiesRegarding the crowd funding campaign: We are using Lighthouse as decentralized crowd funding solution to iteratively fund the development of every milestone, leading to a fully functional version 1.0. The funding goal is 120 BTC for the next milestone and the campaign ends in a few days on February 9th. Please visit our web page for more details: https://bitsquare.io/crowdfundingIf you like to support that project please help us to spread the word. Best regards, Manfred |
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I know that this topic is a bit out of date, but just in case you are still interested in a P2P Fiat-BTC exchange, I wanted to post an update of our project and announcement for our crowd funding campaign which will end in a few days (on February 9th). Bitsquare released an alpha version in December and it can be tested at our regular testing sessions with other traders (testnet). Today 17:00 CET we have such a session. Feel free to join us on our IRC channel #bitsquare-trading on Freenode. Further information can be found here: https://github.com/bitsquare/bitsquare/wiki/Bitsquare-WAN-PartiesRegarding the crowd funding campaign: We are using Lighthouse as decentralized crowd funding solution to iteratively fund the development of every milestone, leading to a fully functional version 1.0. The funding goal is 120 BTC for the next milestone and the campaign ends in a few days on February 9th. Please visit our web page for more details: https://bitsquare.io/crowdfundingIf you like to support that project please help us to spread the word. Best regards, Manfred |
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I know that this topic is a bit out of date, but just in case you are still interested in a P2P Fiat-BTC exchange, I wanted to post an update of our project and announcement for our crowd funding campaign which will end in a few days (on February 9th). Bitsquare released an alpha version in December and it can be tested at our regular testing sessions with other traders (testnet). Today 17:00 CET we have such a session. Feel free to join us on our IRC channel #bitsquare-trading on Freenode. Further information can be found here: https://github.com/bitsquare/bitsquare/wiki/Bitsquare-WAN-PartiesRegarding the crowd funding campaign: We are using Lighthouse as decentralized crowd funding solution to iteratively fund the development of every milestone, leading to a fully functional version 1.0. The funding goal is 120 BTC for the next milestone and the campaign ends in a few days on February 9th. Please visit our web page for more details: https://bitsquare.io/crowdfundingIf you like to support that project please help us to spread the word. Best regards, Manfred |
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I know that this topic is a bit out of date, but just in case you are still interested in a P2P Fiat-BTC exchange, I wanted to post an update of our project and announcement for our crowd funding campaign which will end in a few days (on February 9th). Bitsquare released an alpha version in December and it can be tested at our regular testing sessions with other traders (testnet). Today 17:00 CET we have such a session. Feel free to join us on our IRC channel #bitsquare-trading on Freenode. Further information can be found here: https://github.com/bitsquare/bitsquare/wiki/Bitsquare-WAN-PartiesRegarding the crowd funding campaign: We are using Lighthouse as decentralized crowd funding solution to iteratively fund the development of every milestone, leading to a fully functional version 1.0. The funding goal is 120 BTC for the next milestone and the campaign ends in a few days on February 9th. Please visit our web page for more details: https://bitsquare.io/crowdfundingIf you like to support that project please help us to spread the word. Best regards, Manfred |
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I know that this topic is a bit out of date, but just in case you are still interested in a P2P Fiat-BTC exchange, I wanted to post an update of our project and announcement for our crowd funding campaign which will end in a few days (on February 9th). Bitsquare released an alpha version in December and it can be tested at our regular testing sessions with other traders (testnet). Today 17:00 CET we have such a session. Feel free to join us on our IRC channel #bitsquare-trading on Freenode. Further information can be found here: https://github.com/bitsquare/bitsquare/wiki/Bitsquare-WAN-PartiesRegarding the crowd funding campaign: We are using Lighthouse as decentralized crowd funding solution to iteratively fund the development of every milestone, leading to a fully functional version 1.0. The funding goal is 120 BTC for the next milestone and the campaign ends in a few days on February 9th. Please visit our web page for more details: https://bitsquare.io/crowdfundingIf you like to support that project please help us to spread the word. Best regards, Manfred |
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I have a Q regarding how bitsquare operates. I was checking the website & the whitepaper. The basic functionality is well explained in the following image...
But, it is an ideal situation. What happens when...
1. Without sending the FIAT, Alice claims that she has sent it ?
2. After receiving the FIAT, Bob claims he has not received it ?
If there is no manual intervention, then who will make these decisions ? There must be an escrow and by using that escrow, we are eventually back to that centralized structure. I think LocalBitcoins or similar escrow based exchanges will be far more trusted than a BitSquare.io escrow, because their business is trust and their identities are known, which is not the case for anonymous escrows of BitSquare.io .
You should really read the white paper. It addresses all of your worries and is a quick read. Regarding 1. and 2. the decentralized arbitration system steps into place. LBTC uses centralized escrow and holds funds. I have read the whitepaper indeed and then only asking Qs. Moreover, this is not first time I'm asking Q regarding Bitsquare.io or OpenBazaar as both of them have the same escrow dependency. Every time people actually tend to skip these Qs and point at the whitepaper which really does not address this issue. My point is simple: As long as you have escrow dependency, you are not decentralized and trustless like Bitcoin network. Both Bitsquare.io or OpenBazaar are trying to give people a flavor of decentralized and trustless network, though in reality they are relying on a faulty trust system like BitcoinTalk's DefaultTrust. The decentralized arbitration system works in a way that everybody can become an arbitrator. To avoid collusion or misbehaviour the arbitrator need to pay in a high security deposit to a 4of6 multisig. Keyholders are surpreme court arbitrators. Surpreme court arbitrators are those with the highest reputation. Reputation is derived form higher security deposit, many solved cases and real life ID. Traders select a number of arbitrators which the are willing to accept. You can only trade with another who has at least 1 arbitrator in common. If there are more in common, selection is done in a unswayable way, to avoid additional to the protection from sec. deposit collusion risk. More details can be found here: https://bitsquare.io/bitsquare.pdfhttps://bitsquare.io/arbitration_system.pdfhttps://bitsquare.io/risk_analysis.pdfhttps://bitsquare.io/blog/bitsquare-arbitration-system/https://bitsquare.io/blog/bitsquare-protection-mechanisms/Hope that helps. |
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I'm not sure what you're trying to do here. This situation is very unlikely to happen. Bitsquare lowers the incentive for scammers as much as possible by a set of measures. I think I understand the basics, especially how there is an incentive for both buyers and sellers to NOT try and commit fraud or cheat (as it would only *cost* them money). But I'm trying to pinpoint how or where the trust factor comes into play. If I want to buy bitcoins, I accept an order, and wire my USD or EUR, to whom or where do I wire it? Directly to the seller, or to an unknown intermediary? If at any point the arbitrator controls my wired funds and/or our security deposits, how can we (both me and the seller) be sure the arbitrator doesn't disappear with my fiat? The arbitrator is a more or less randomly chosen person to solve cases where one trade participant is cheating. If you're not happy with the decision of the arbitrator (unlikely case of collusion between the arbitrator and the scammer) you can call another arbitrator. The case will be looked into and in case of collusion, arbitrator rights plus arbitrator security deposits (which is at least two times the trade volume) will be taken from the colluding arbitrator. Ah, OK, I didn't notice that before, that's good. But who or what controls his security deposit, or where does an arbitrator send his security payment to? Thanks again, trying to get BitSquare's security mechanism as clear as possible. You do the Fiat transfer directly to your trade peer via online banking or whatever method you choose. Similar like LocalBitcoin. The Bitcoin is held in 2of3 MultiSig. Keyholders are both traders and an arbitrator. The security deposit of the arbitrator is held in a 4of6 MS. Keyholders are the "supreme court" arbitrators which are the arbitrators with the highest reputation (not anonymous, higher security deposit, many cases solved successfully). If an arbitrator colludes or does not meet defined quality standards, he will lose all his security deposit, which is in any case much more what he can win when trying to cheat. If you are interested in more details please read our whitepaper and the related papers about the arbitration system and risk analysis or check out the videos. |
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Alternatively, you could donate to the address on our 'contribute' page: https://bitsquare.io/contribute/ . We might use donations from there to fill-up Lighthouse donations: 1BVxNn3T12veSK6DgqwU4Hdn7QHcDDRag7 You guys really need to make this funding campaign much clearer. I love this project, it has such a lot of potential, but I can't donate knowing that: - You've structured the funding rounds in a way that could make the decision to donate regrettable
- You have at least 2 funding streams, and no explanation of how these two are accounted for in respect of each other
This would matter less if you were not asking for so much money. Surely it's better to try to encourage as many bold donations as possible? I think when you read the information published on our crowd funding page ( https://bitsquare.io/crowdfunding/) it should be pretty clear. Use our official sources at primary information source. The crowd funding works with Lighthouse and is an all-or-nothing model. 120 BTC is the goal and the campaign ends on 9th of february (midnight UTC 0). The regular donation address on our webpage was always there and is independent from the crowd funding. As people mentioned out in forums or reddit that the min. pledge of 0.175 BTC might be too hight for some people, they discussed some ideas with sub projects or using the regular donation address and sum that up to the campaign. I will see how it goes until the end of the campaign, and if it is the case that we miss the goal but would reach it with the donations at the regular donation address, I will move that money over to the campaign. But that is hypothetical and if you check the amount dontated at the regular donation address, it does not look like it has any substantial influence of the success of the campaign. |
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I think he just explained it can't do that. It's for very small transactions. I'm not sure it's fair to call it an exchange but I do see an audience for it. I'd say $2500 fits the "small transactions" label? Or at least it should, when we're discussing P2P Bitcoin trading. From th PDF, page 11: Dispute
There will be a warning notifications to both traders at the middle of the timeout period if the
trade has not completed. As soon the timeout is reached the waiting trader who has not
received their payment can contact the arbitrator.
The waiting trader sends a request to the arbitrator with the contract attached and a description
of the problem.
The arbitrator has to find a fair solution and per contract terms will contact both traders and
perform any other contractually pre-determined due diligence.
After the arbitrator has decided in favor of one trader he will contact the winning party to sign a
new payout transaction where he takes the security deposit from the losing party as his dispute
payment and the bitcoin payment and security deposit will go to the winning party.
The winning party will have no costs. The losing party will lose his security deposit.
In cases where the problem was caused by external circumstances (e.g. bank has blocked the
transfer, etc.), the arbitrator will take half of each security deposits as his payment and refund
the rest back to the traders.
More details about the arbitration system can be found in the “Arbitration System” document. https://bitsquare.io/bitsquare.pdfhttps://bitsquare.io/arbitration_system.pdfThanks! |
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If you are really interested how Bitsquare works please check out our official resources. We have prepared all information from hi-level (videos, FAQ) to very detailed (whitepaper, related papers). If you have read that all and understood and there are still open questions please ping us on our mailinglist. You can find all resources easily on our webpage ( https://bitsquare.io/). |
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This is what we need, i want to see tons of working decentralized exchanges happening.
What is the difference if you compare this to Coinffeine??
then why does the BTC community prefers centralized shit exchangers?  Prefer? Ther is no decentralized alternative yet out. There is Ripple, it's been two years, and its working great. Oh no, wait, TradeFortress said it was a scam, and we are supposed to follow and herd around any troll who sounds like a Bitcoin fundamentalist. I forgot here is Bitcointalk, my apologies. Give me a break. Ripple is still centralized shit. Haha... Darling of the banks.... |
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i installed it but why do i need to enter an emailaddress? and even when i enter one, i cant sent the funds (cant "confirm")  Email is only important if you donate >= 1 BTC so we can contact you for shipping the reward (wood wallet). Otherwise enter anything there... There is a user guide on the Lighthouse page if you have troubles: https://www.vinumeris.com/lighthouse/usageIf you can explain more in details or send a screenshot I might help more. |
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Its not Fiat. IOU are not Fiat. |
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Is there some sort of a ticker somewhere to see how much there is collected?
If you download the Lighthose app and import our project file you can view the current pledges. At the moment we have 13 pledges and 20.5 BTC. A generous 10 BTC from Olivier Janssens as well as a donation from Mike Hearn. |
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This is what we need, i want to see tons of working decentralized exchanges happening.
What is the difference if you compare this to Coinffeine??
The main concern I see with Coinffeine is that they use that micropayment on the Fiat side, that means you have a high number of small fiat payments between 2 accounts of the same payment processor. That is a pattern which even the dumbest monitoring system will be able to track and so the payment processor or bank will know exactly that those 2 account holders are involved in a BTC exchange. Who else make hundreds of 1 EUR payents in 1 minute? So the Single point of failure test will fail as you are dependent on that payment processor/bank to support bitcoin and you lose your privacy. Furthermore it is limited to OKPay so both traders need an account there. They plan to add more paymnet options/banks, but I cannot image that there will be a big variety (they need an open banking API which is normally not available beside a few modern payment processors). Also I think it will not be possible between different banks due the cost structure of the micropayments. Micropayments can be cheap inside one bank as its only an internal database entry change, but as soon you leave the bank you have higher costs and delays. It is an exchange model built for banks to letting them take part in the bitcoin exchange business without getting involved directly with Bitcoin (see interview with CEO: https://letstalkbitcoin.com/blog/post/bitcoins-and-gravy-49-coinffeine-the-distributed-bitcoin-exchange). Its an interesting business model for banks but has nothing to do with the idea of decentralisation. It is good to have additional exchange models like Coinffeine but as I said it is not decentralized. I see it similar to those attempts to include an exchange into the banking account like some banks have tried it (and got closed again after regulatory pressure). http://www.dagensia.eu is one example for such... |
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