Ah nice to see you here! Your project seems to be one of the very few other serious attempts to create a P2P exchange.
Yes. Sorry, I find it hard to comment on bitsquare other that I wish you the best of luck. And that I find it regrettable that you did not consider to join ZeroReserve. My reason not to join Ripple were quite obvious - 3 letters suffice to explain it: XRP. May I ask, what was your reason not to join ZR?
I am not experienced with c++ (unfortunately), so that would be one reason I could not join ZeroReserve.
I am more or less familiar with the basics of Ryan Fuggers ripple system, but never delved deeper into it. Basically I find it a very interesting idea but I have some concerns with it:
For me it always felt a bit limited and hard to reach wider adoption due the difficulty of bootstrapping it. It would only work well if there are already a lot of people in...
My main interest was to create an excahnge which deals with the real fiat money not with IOUs. I know fiat is IOU as well but it the more universal accepted IOU. With all those crypto IOU systems I miss the part how they enforce and audit the reserve of the IOU. If I issue 100 000 EUR_IOUs, who checks/enforces that I am really be able to convert them to EUR if anyone wants that? Even if I have the 100 000 EUR as reserve, price volatility would need a constant update of that reserve. 1 EUR_IOU is not necessary equal to 1 EUR. We have seen that with MtGox, the funds there where basically low quality IOUs for BTC and Fiat. When it crashed much of those IOUs became worthless.
So I am missing the interface to the classic fiat world. I cannot pay my bills with EUR_IOU, so some conversion point is necessary, at least as long not a majority of real life entities are accepting crypto currencies.
Another problem I personally have with ripple style concepts is the combination of friendship relationships with money.
If I lend money from a friend and I am unable to pay it back, my friend can get in trouble as well and that could have influence to the friendship. All that can easily happen without any bad intention (accident, cannot work anymore,...). I prefer a system which is more abstract and handle those risky with insurance, like the banks are doing it. That does not imply that I am fan of Banks ;-)...
But I did not find time yet to read your whitepaper, so my concern might be wrong with your system, and as I said before, I am not soo familiar with the ripple concept.