March, 20, 2023 is Bisq Market Day!

[SeeBiscuit]

The Make an Offer Initiative

I've been reading around here for a short while now and it has occurred to me that the one and only bisq is having a holiday coming up! It will be a first time for me trying the platform, but I can wait a little longer so I can make my first trade on there a little sentimental. Plus, it's a great excuse for a newbie like me to get their feet wet with a true DEX. From what I understand, bisq is actually open source software that allows for a decentralized exchange that can never be shut down. That's crazy powerful and more people definitely need to know about this in the bitcoin space. What do you guys think?



https://bisq.wiki/Howto <---- I am using this link to learn how to do everything I need so March 20th will be as smooth as possible for me.

Here's an excerpt from the github page: https://github.com/bisq-network/growth/issues/274

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.


The goals and initiatives that are trying to be accomplished on this day are amazing when you read through their github. So happy it's around the corner and I'm truly excited.

Does anyone else on here have plans to use bisq on the 20th?
Are there any tips newbies should know before using bisq?
What are some facts about bisq that would shed insight onto newer users?
What are some of the things that make bisq superior to other DEX's?
Are there any drawbacks to using bisq?

Thank you.
<3

[1715138937]

1715138937

[1715138937]

1715138937

[I_Anime]

Pros
Decentralized exchange
Various payment options
Instant approval
No geo restrictions
You're in control
Security

Cons
Decentralization isn't for everyone
Application is somewhat basic
Potential for fraud

When you look at the pros and cons you see that is just a matter of individual view. Though it is secure and its gives privacy to it users, Defi hacks has been increasing since 2020.Also is not suitable for beginners because their limited knowledge in Trading (like Historical graph of previous prices and some others). Get the full review here
https://www.fool.com/the-ascent/cryptocurrency/bisq-review/

[Cantsay]

You can as well add this to your Op, it's a charity signature campaign that was launched by Husires here on Bitcointalk in other to help them achieve their goal quicker [Free] Bisq Market Day - March 20th 2023 signature/avatar

For me, the only downside I see about this Dex is the fact that they have no android or iOS version, although they do have notification app for Android but I still feel that they should have created an Android even if it doesn't have all the functionality as that of the desktop version, that way newbies without a desktop or laptop can be able to use the exchange.

[Upgrade00]

Though it is secure and its gives privacy to it users, Defi hacks has been increasing since 2020.Also is not suitable for beginners because their limited knowledge in Trading (like Historical graph of previous prices and some others).

• DeFi and decentralized exchanges are two different sectors, hacks in DeFi does not mean vulnerability in exchanges like bisq. Also, CEXes have shown lots of vulnerability to hacks and breaches resulting in loss of funds or personal details.

• There are platforms that give such information and one can use that as a guide for trades. But it is overall difficult to trade using a P2P platform.

[davis196]

1.I think that this topic belongs to the Service Discussion forum, since it's not about Bitcoin, but a particular crypto company or service.
2.I know that DEX exchanges are better than the centralized exchanges, but this dives some users a false sense of security. There are still lots of scammers on DEX exchanges, and the users must be aware of potential scam attempts. You are still sending your coins to a third party wallet, which serves as an escrow. I don't know how secure are the Bisq escrow wallets and does Bisq give you the private keys of the escrow wallet.
I haven't used Bisq and I don't plan to use anytime soon(because I have good alternatives). Maybe I will change my mind, if I don't have any alternatives for selling my BTC in the future.

[PX-Z]

Cons
Application is somewhat basic

How a basic application become cons? It should be the very pros of every exchange instead of being too technical or whatever.
But yeah, decentralization is not for everyone, even the word privacy is slowly forgotten by others. They will choose KYC required site in exchange of ease of use and good looking site than privately secured site.

[Faisal2202]

Does anyone else on here have plans to use bisq on the 20th?
Are there any tips newbies should know before using bisq?
What are some facts about bisq that would shed insight onto newer users?
What are some of the things that make bisq superior to other DEX's?
Are there any drawbacks to using bisq?

No doubt Bisq is decentralized exchange. but i don't know why i feel like a promotion here. ahah. idk maybe its in my mind. but you represent rules and awards in a sense that i thought you trying to urge me to join it. Well ( its just a question not accusing you so i hope you will don't mind) secondly coming to your questions.

1. No i have no plans
2. if you are considering your self newbie than you should read the following topics for better and brooder view.

• [GUIDE] How to buy and sell Bitcoin using Bisq
• Guides for using Bisq
• [ANN] Bisq - Exchange, Decentralized.

Answers to remaining question could be found at above mentioned topics. all you have to is read them.

snip

i think the pros and cons that I_Anime has mentioned are not well defined and distinct. like in his/her view some points are pros and in your point of view some pros are not really pros but actually cons. So i must say that's just the interpretation of mentality.

[tbct_mt2]

• DeFi and decentralized exchanges are two different sectors, hacks in DeFi does not mean vulnerability in exchanges like bisq. Also, CEXes have shown lots of vulnerability to hacks and breaches resulting in loss of funds or personal details.

DeFi projects are more related to centralized teams and networks. They provide products with APY interests for users, swap and so on but it is not correct to consider DeFi platforms as decentralized exchanges.

People must know some blockchains had intention to revert their blockchains after Terra, FTX collapses. Are decentralized networks can be revert easily? They are not if they are truly healthy and decentralized.

Bisq is a really decentralized exchanges that operate with support from Bitcoin network and peer-to-peer trades are safe for users. Of course, on any platform, understand well about how it operates, how to choose trade partners and how to complete a trade including dispute as well are important to use it safely.

[o_e_l_e_o]

Get the full review here

What an absolutely nonsense article. "Decentralization isn't for everyone"? Well why are you using bitcoin at all when you can just use centralized fiat? And then it says that Bisq is risky because people lose money through DeFi, like Bisq has anything at all to do with the scam that is DeFi.

There are still lots of scammers on DEX exchanges, and the users must be aware of potential scam attempts.

Both the number of users who have lost money and the total amount of money lost due to centralized exchanges scamming, disappearing, going bankrupt, etc. absolutely eclipses what has been lost via true DEXs.

You are still sending your coins to a third party wallet, which serves as an escrow.

The escrow is a 2-of-2 multi-sig between buyer and seller. There is no third party involved and Bisq never have control over your coins.

[avikz]

I will be honest!

When it comes to P2P trade, I won't use a decentralized exchange because the potential for fraud is much higher. I wouldn't know what kind of money I receive in my bank account and from whom. That's the challenge for P2P trades. I will want a verified person to send money to my bank account so that I don't have to deal with any issues later on. I am not saying that centralized exchanges do not have such risk, but the possibility is quite less.

The centralization vs decentralization debate will go on forever. But for my own financial security which involves fiat, I will avoid anonymous platforms like Bisq. If it's just a matter swapping my coins to some other cryptos, then it should be fine!

[tranthidung]

When it comes to P2P trade, I won't use a decentralized exchange because the potential for fraud is much higher. I wouldn't know what kind of money I receive in my bank account and from whom. That's the challenge for P2P trades. I will want a verified person to send money to my bank account so that I don't have to deal with any issues later on. I am not saying that centralized exchanges do not have such risk, but the possibility is quite less.

People get troubles because they are greed and chase too too good offers. Such abnormal good offers usually come from new accounts with very less past successful trades as well as small total trade volume.

If they don't chase for such offers, they will have less risk to trade with scammers. If they prioritize safety, they will look for trade partners with old accounts, big past trade volume, good feedback and risk will be much smaller.

A good trade partner will less likely to scam you and their money usually won't bring trouble to you.

[thecodebear]

Decentralized Bitcoin exchanges are very cool. I would like to in the future buy all my bitcoin from them for privacy reasons, but at least so far their liquidity is so low that the prices are awful. If they can build more liquidity, which I guess is the point of advertising Bisq Market Day, so that prices were close to market rate and just so that there were lots of offers for different amounts of Bitcoin it would be much better and be well worth it for the privacy. I guess if you are buying long term so you're holding until the price is many times higher it doesn't matter THAT much if you pay $1000 higher price per Bitcoin for the benefit of privacy but still it doesn't feel good to know you're getting a bad current rate.

I hope they can grow their liquidity a lot so that it becomes a better deal and could one day take over from centralized exchanges where every bitcoin you buy gets tracked.

[thecodebear]

• DeFi and decentralized exchanges are two different sectors, hacks in DeFi does not mean vulnerability in exchanges like bisq. Also, CEXes have shown lots of vulnerability to hacks and breaches resulting in loss of funds or personal details.

DeFi projects are more related to centralized teams and networks. They provide products with APY interests for users, swap and so on but it is not correct to consider DeFi platforms as decentralized exchanges.

...

Bisq is a really decentralized exchanges that operate with support from Bitcoin network and peer-to-peer trades are safe for users. Of course, on any platform, understand well about how it operates, how to choose trade partners and how to complete a trade including dispute as well are important to use it safely.

Yeah exactly, DeFi is about apps and tokens and it isn't really decentralized. I wish people would stop calling it DeFi because it isn't decentralized, it's all run and controlled by the companies that make the apps/tokens. Open Finance is a much better name. And yeah DeFi and decentralized exchanges are two entirely different things.

DEXes like Bisq are a way to get Bitcoin privately without being tracked by Chainalysis/government like you are for every bitcoin or crypto you buy from a centralied exchange.

And yeah before using Bisq or any decentralized exchange every user should absolutely understand how it works and how the trades are done to make sure it is safe.

[Artemis3]

I wonder if Bisq now allows me to use my system's tor instead of the thing they bundle that i cannot configure?

That was my major show stopper a few years back.