Bisq Wiki - User contributions [en]

Trading BSQ

2022-02-02T03:04:42Z

Plebeian9000: add note about atomic bsq swaps

== How to obtain BSQ ==

The faster, cheaper, easier, and trustless way to obtain BSQ is through [[BSQ_swaps|BSQ swaps]], available in the Bisq application as the default method when creating an offer to sell BTC for BSQ.

What follows is the previous trading protocol for obtaining BSQ, which is still functional, though deprecated in favor of swaps, as it offers no advantages over the former.

= Old trading protocol =

'''Trading BSQ''' is very similar to trading any other [[payment_methods#altcoin-payment-methods | altcoin]], but instead of using an external wallet to send and receive funds, you use the [[BSQ#BSQ_Wallet | BSQ wallet]] built in to your Bisq application.

== Why buy or sell BSQ? ==

For traders, using BSQ colored bitcoin to pay trading fees can be a lot cheaper than using plain BTC to pay trading fees. The [[Trading_fees|target discount rate is 50%]], fluctuates with market prices, and is [[Updating_BSQ_trading_fees|re-calibrated on a monthly basis]].

For contributors, BSQ is required to make proposals and cast votes. Contributors are also compensated with BSQ, which can be sold on Bisq for BTC.

== Get your BSQ address ==

In order to create a payment account for trading BSQ, you'll first need a BSQ address.

Go to <code>DAO</code> > <code>BSQ wallet</code> > <code>Receive</code> and click the copy icon in the right corner to copy the BSQ address to receive the BSQ payment.

[[File:Get-bsq-address.png|600px|thumb|left|Get BSQ address.]]
<div style="clear: both;"></div>

== Create a payment account ==

Once you've found your BSQ address, create a BSQ payment account at <code>Account</code> > <code>Altcoin Accounts</code>.

Click <code>Add New Account</code>, pick <code>BSQ</code> in the dropdown, and paste your BSQ address.

== Buy or sell BSQ ==

To trade BSQ you can either make an offer or take an existing offer just as you would with any other payment method.

Since v1.8.0, Bisq offers [[BSQ_swaps|atomic swaps for BSQ/BTC trades]], which means you can buy and sell BSQ for BTC with only a single on-chain transaction. This means mining fees are greatly reduced, and trades are virtually instant (!).

[[Category:Guides]]

Trading GRIN

2021-11-10T15:59:52Z

Plebeian9000: add formatting refinements

'''[https://github.com/mimblewimble/grin/blob/master/doc/grin4bitcoiners.md GRIN]''' is a minimalistic, lightweight cryptocurrency, implementing the Mimblewimble protocol for a unique balance of privacy and scalability.

__TOC__

== Buying GRIN ==

Buying GRIN is like buying any other [[altcoin]]. It requires a GRIN [[Creating_a_payment_account#Creating_an_altcoin_account|payment account]] in Bisq. The GRIN slatepack address to be used is issued by your GRIN wallet.

When buying, you should keep your GRIN wallet open to receive the payment. If that is not feasible, you can also receive GRIN by exchanging slatepack messages with the seller in trader chat. More information about GRIN transactions can be found [https://docs.grin.mw/about-grin/transactions here].

Once you have received the GRIN, you should confirm the receipt on Bisq so that escrowed BTC funds can be released to you and your peer.

== Selling GRIN ==

The trader ''selling'' GRIN (BTC buyer) will send GRIN to the counterparty's slatepack address using their wallet of choice once the Bisq trade deposit is confirmed.

The amount and recipient address is displayed on-screen when you are prompted to do the transfer.

Example of sending using grin-wallet:
<pre>./grin-wallet -r "https://grinnode.live:3413" send -d grin1dxnzk3gfnqz69va64ut7jafs7u72dtyswpzxekdgmlurkng9ctfqf9yqu5 10.123456789</pre>

The GRIN ''buyer'' will confirm the trade in Bisq once they are satisfied that they received the correct amount of GRIN.

You must be able to generate [https://docs.grin.mw/getting-started/wallet-handbook/#proof proof of payment] in case of a dispute. Otherwise, Confidential Transactions make it impossible for a third party to verify if a payment was made. GRIN sellers must be able to generate a transaction's proof for mediators or arbitrators in case of disputes.

'''At this moment the only wallet capable of generating and verifying payment proofs is the [https://github.com/mimblewimble/grin-wallet/releases CLI wallet] developed by the GRIN core team.'''

{{Admonition_Warn|Failing to provide the proof to a dispute agent will likely result in losing the dispute case.}}

See how to generate payment proof below.

== Generate payment proof ==

Only the person sending the GRIN funds can create payment proof.

First, list your transactions using <code>txs</code>, and look for the one you want to issue proof on.

The command <code>export_proof</code> will generate a file containing information to prove the details to the recipient or a mediator.

For the purpose of these examples, a public node provided by https://grinnode.live is used. If you have access to your own node running locally, you can remove the -r option completely or change it to a different http endpoint.

Example:

<pre>
./grin-wallet -r "https://grinnode.live:3413" txs

./grin-wallet -r "https://grinnode.live:3413" export_proof -i 2 proof2.txt
</pre>

Contents of <code>proof2.txt</code>:

{
"amount": "10123456789",
"excess": "0924ca1b69531aa9abcf85ff7a2bf0d494bc1d85440339332fb62374aabaddf1d6",
"recipient_address": "grin1dxnzk3gfnqz69va64ut7jafs7u72dtyswpzxekdgmlurkng9ctfqf9yqu5",
"recipient_sig": "710d58fe9e728077dad9494c0d0e15ba5e883e863477aa471c753282a838d9c45966bc57d21f078c226576b6189b293eed3534b755674284a90bb99a128a7d02",
"sender_address": "grin1ephxt0u33rz9zpl7exer2awfr9s9ae28qsx7908q2zq03uv3sj7suqdule",
"sender_sig": "f054a71d5791532364b3267d44601531cdd6730e1eb487142ae798aa3de6e3551c4f756caec09d17901c5e6e08946f04d9d03d04af525567b6df14e25158160c"
}

Send this proof file to a mediator in case of a dispute (e.g. payment not received, incorrect amount, etc).

== Guidance for dispute agents ==

There are two steps for verifying the correct payment was made. Note that there is no reason to verify a proof if the amount or recipient is wrong.

<ol>
<li>

Check that the proof file supplied by the GRIN seller matches the details you have for the Bisq trade.

This is just basic fact checking: did the sender proof show the correct recipient address and amount?

Note that amounts are shown without a decimal place, and there are 9 digits after the decimal (e.g. <code>"amount": "10123456789"</code> means 10.123456789 GRIN).

</li>
<li>

Run the <code>verify_proof</code> command to check that the transaction is recorded on the blockchain.

In order to do this, you'll need grin-wallet installed on your PC.

Install the grin wallet software from https://github.com/mimblewimble/grin-wallet/releases, and then:

<pre>./grin-wallet -r "https://grinnode.live:3413" init</pre>

The wallet is just used as a tool to verify transactions. You do not need a node, Tor, or a seedphrase for this.

To verify, use the command <code>verify_proof</code> with the details provided by the GRIN seller, e.g.

<pre>./grin-wallet -r "https://grinnode.live:3413" verify_proof ./proof2.txt</pre>

Output:

<pre>Payment proof's signatures are valid.
Neither the proof's sender nor recipient address belongs to this wallet.
Command 'verify_proof' completed successfully</pre>

This proves that the amount was sent to the recipient address shown in the proof and recorded in the GRIN ledger.

</li>
</ol>

== FAQ ==

'''How is the price of GRIN determined?'''

The price of GRIN is determined by the marketplace within Bisq.

Trade price is chosen by offer maker (which can be the buyer or seller). Offers are by default arranged in the marketplace with the best prices shown at the top of the list.

The last traded price is shown in at the top right of the screen as "Price of latest Bisq trade".

BSQ swaps

2021-10-19T16:37:57Z

Plebeian9000: fix typos

'''BSQ swaps''' allow [[BSQ]] colored bitcoin and BTC to be traded atomically: instantly, risklessly, with less fees, and with no special Bisq account setup required.

__TOC__

== Process ==

With the BSQ swap protocol, BSQ and BTC can be traded in a single transaction without much of the baggage of the conventional trade protocol.

From a user's perspective, the process is rather seamless. No special payment accounts need to be created. The offer maker creates the offer (BSQ is default trade currency).

[[File:Create-bsq-swap-offer.png|600px|thumb|left|Creating a BSQ swap offer.]]

As long as the offer maker has enough of what they want to trade in their wallet (either BTC or BSQ), the offer will be live and visible on the network. If the relevant wallet balance ever goes below the amount required to complete the swap, the swap offer automatically deactivates.
* if a user creates a swap offer to sell 1000 BSQ, the offer will remain live as long as their BSQ wallet has more than 1000 BSQ
* if a user creates a swap offer to buy 0.5 BTC, the offer will remain live as long as their Bisq BTC wallet has more than 0.5 BTC

Offers can still be activated or deactivated manually in <code>Portfolio</code> > <code>My Open Offers</code> as usual.

Taken offers show in a new <code>BSQ Swap Trades</code> tab on the <code>Portfolio</code> screen.

Of course, this trade protocol can only work while both users are online, but Bisq offers can only be taken when both maker and taker are online anyway, and these trades can be settled almost instantly so there is no further expectation that users be online for any particular amount of time (e.g. for 1 hour with [[Payment_methods#Altcoin_payment_methods|instant altcoins offers]]).

<div style="clear:both;"></div>

== Troubleshooting ==

Since the protocol is trustless, BSQ swaps do not require Bisq's conventional [[dispute resolution]].

Rarely, an invalid transaction could be committed to your wallet. In such a case, you will need to [[Resyncing SPV file|resync your SPV file]] to get rid of it.

== Background ==

=== Transaction structure ===

Here we cover the basic mechanics of BSQ swaps.

BTC buyers and sellers need to pay BTC mining fees and BSQ trading fees, but the BSQ swap protocol simplifies the transaction by only having BTC inputs for BTC sellers and BSQ inputs for BSQ sellers. The appropriate deductions are made from the outputs (e.g. the BTC buyer/BSQ seller gets BTC with their share of mining fees and trading fees deducted; similarly, the BTC seller/BSQ buyer gets BSQ with their share of mining fees and trading fees deducted).

Now let us examine an example trade to see the structure of such a transaction.

This is how a transaction for a 1 BTC/50,000 BSQ swap with a 0.5 BSQ maker fee and 1.5 BSQ taker fee would look. We estimate the buyer's share of the mining fee to be 2000 sats and the seller's share of the mining fee to be 2500 sats.

Assuming Alice makes an offer to buy BTC (sell BSQ) and Bob takes her offer (making him BTC seller/BSQ buyer):

* Alice's BSQ input(s): min. 50,000 BSQ + 0.5 BSQ trade fee
* Bob's BTC input(s): min. 1 BTC + 2500 sat - 150 sat (his BSQ trade fee will be used for mining fee, so he needs a bit less of a mining fee)
* Bob's BSQ payout output: 50,000 BSQ - 1.5 BSQ trade fee
* Alice's BSQ change output: xxx BSQ - optional, can be omitted in case input was exact
* Alice's BTC payout output: 1 BTC - 2000 sat miner fee + 50 sat from BSQ fee
* Bob's BTC change output: yyy BTC - optional, can be omitted in case input was exact

=== Spam prevention ===

With the conventional Bisq trade protocol, the maker fee transaction acts as a spam prevention measure: you cannot create an offer without spending bitcoin.

The BSQ swap protocol has no such transaction, so instead, a proof-of-work (POW) mechanism is used. The difficulty level (number of leading zeros) is set in the filter. When creating an offer, the maker does the required POW and attaches the resulting data to their offer. Each node verifies the POW and only shows offers with valid POW.

If POW difficulty is increased, offer makers must re-do their POW in the background and republish their offers. Old offers are removed from the network and new offers with new POW are added.

Each offer has a counter appended to its offer ID (after the version number, in the full offer ID) each time a new POW is completed. This enables each re-published offer with new POW to have a new offer ID that looks the same to users (since the short offer ID doesn't change).

At first, POW difficulty will be set to a very low value so users do not notice anything (low milliseconds on modern laptop hardware), but will be increased as needed.

BSQ swaps

2021-10-18T15:20:28Z

Plebeian9000: /* Transaction structure */

'''BSQ swaps''' allow [[BSQ]] colored bitcoin and BTC to be traded atomically: instantly, risklessly, with less fees, and with no special Bisq account setup required.

__TOC__

== Process ==

[[File:Create-bsq-swap-offer.png|600px|thumb|left|Creating a BSQ swap offer.]]

With the BSQ swap protocol, BSQ and BTC can be traded in a single transaction without much of the baggage of the conventional trade protocol.

From a user's perspective, the process is rather seamless. No special payment accounts need to be created. The offer maker creates the offer (BSQ is default trade currency).

As long as the offer maker has enough of what they want to trade in their wallet (either BTC or BSQ), the offer will be live and visible on the network. If the relevant wallet balance ever goes below the amount required to complete the swap, the swap offer automatically deactivates.
* if a user creates a swap offer to sell 1000 BSQ, the offer will remain live as long as their BSQ wallet has more than 1000 BSQ
* if a user creates a swap offer to buy 0.5 BTC, the offer will remain live as long as their Bisq BTC wallet has more than 0.5 BTC

Offers can still be activated or deactivated manually in <code>Portfolio</code> > <code>My Open Offers</code> as usual.

Taken offers show in a new <code>BSQ Swap Trades</code> tab on the <code>Portfolio</code> screen.

Of course, this trade protocol can only work while both users are online, but Bisq offers can only be taken when both maker and taker are online anyway, and these trades can be settled almost instantly so there is no further expectation that users be online for any particular amount of time (e.g. for 1 hour with [[Payment_methods#Altcoin_payment_methods|instant altcoins offers]]).

<div style="clear:both;"></div>

== Troubleshooting ==

Since the protocol is trustless, BSQ swaps do not require Bisq's conventional dispute resolution. Rarely, an invalid transaction could be committed to a your wallet. In such a case, you will need to [[Resyncing SPV file|resync your SPV file]] to get rid of it.

== Background ==

=== Transaction structure ===

Here we cover the basic mechanics of BSQ swaps.

BTC buyers and sellers need to pay BTC mining fees and BSQ trading fees, but the BSQ swap protocol simplifies the transaction by only having BTC inputs for BTC sellers and BSQ inputs for BSQ sellers. The appropriate deductions are made from the outputs (e.g. the BTC buyer/BSQ seller gets BTC with their share of mining fees and trading fees deducted; similarly, the BTC seller/BSQ buyer gets BSQ with their share of mining fees and trading fees deducted).

Now let us examine an example trade to see the structure of such a transaction.

This is how a transaction for a 1 BTC/50,000 BSQ swap with a 0.5 BSQ maker fee and 1.5 BSQ taker fee would look. We estimate the buyer's share of the mining fee to be 2000 sats and the seller's share of the mining fee to be 2500 sats.

Assuming Alice makes an offer to buy BTC (sell BSQ) and Bob takes her offer (making him BTC seller/BSQ buyer):

* Alice's BSQ input(s): min. 50,000 BSQ + 0.5 BSQ trade fee
* Bob's BTC input(s): min. 1 BTC + 2500 sat - 150 sat (his BSQ trade fee will be used for mining fee, so he needs a bit less of a mining fee)
* Bob's BSQ payout output: 50,000 BSQ - 1.5 BSQ trade fee
* Alice's BSQ change output: xxx BSQ - optional, can be omitted in case input was exact
* Alice's BTC payout output: 1 BTC - 2000 sat miner fee + 50 sat from BSQ fee
* Bob's BTC change output: yyy BTC - optional, can be omitted in case input was exact

=== Spam prevention ===

With the conventional Bisq trade protocol, the maker fee transaction acts as a spam prevention measure: you cannot create an offer without spending bitcoin.

The BSQ swap protocol has no such transaction, so instead, a proof-of-work mechanism is used. The difficulty level (number of leading zeros) is set in the filter. When creating an offer, the maker does the required POW and attaches the resulting data to their offer. Each node verifies the POW and only shows offers with valid POW.

If POW difficulty is increased, offer makers must re-do their POW in the background and republish their offers. Old offers are removed from the network and new offers with new POW are added.

Each offer has a counter appended to its offer ID (after the version number, in the full offer ID) each time a new POW is completed. This enables each re-published offer with new POW to have a new offer ID that looks the same to users (short offer ID doesn't change).

At first, POW difficulty will be set to a very low value so users do not notice anything (low milliseconds on modern laptop hardware), but will be increased as needed.

BSQ swaps

2021-10-18T15:15:16Z

Plebeian9000: initial creation; more thorough proofing needed

'''BSQ swaps''' allow [[BSQ]] colored bitcoin and BTC to be traded atomically: instantly, risklessly, with less fees, and with no special Bisq account setup required.

__TOC__

== Process ==

[[File:Create-bsq-swap-offer.png|600px|thumb|left|Creating a BSQ swap offer.]]

With the BSQ swap protocol, BSQ and BTC can be traded in a single transaction without much of the baggage of the conventional trade protocol.

From a user's perspective, the process is rather seamless. No special payment accounts need to be created. The offer maker creates the offer (BSQ is default trade currency).

As long as the offer maker has enough of what they want to trade in their wallet (either BTC or BSQ), the offer will be live and visible on the network. If the relevant wallet balance ever goes below the amount required to complete the swap, the swap offer automatically deactivates.
* if a user creates a swap offer to sell 1000 BSQ, the offer will remain live as long as their BSQ wallet has more than 1000 BSQ
* if a user creates a swap offer to buy 0.5 BTC, the offer will remain live as long as their Bisq BTC wallet has more than 0.5 BTC

Offers can still be activated or deactivated manually in <code>Portfolio</code> > <code>My Open Offers</code> as usual.

Taken offers show in a new <code>BSQ Swap Trades</code> tab on the <code>Portfolio</code> screen.

Of course, this trade protocol can only work while both users are online, but Bisq offers can only be taken when both maker and taker are online anyway, and these trades can be settled almost instantly so there is no further expectation that users be online for any particular amount of time (e.g. for 1 hour with [[Payment_methods#Altcoin_payment_methods|instant altcoins offers]]).

<div style="clear:both;"></div>

== Troubleshooting ==

Since the protocol is trustless, BSQ swaps do not require Bisq's conventional dispute resolution. Rarely, an invalid transaction could be committed to a your wallet. In such a case, you will need to [[Resyncing SPV file|resync your SPV file]] to get rid of it.

== Background ==

=== Transaction structure ===

Here we cover the basic mechanics of BSQ swaps.

BTC buyers and sellers need to pay BTC mining fees and BSQ trading fees, but the BSQ swap protocol simplifies the transaction by only having BTC inputs for BTC sellers and BSQ inputs for BSQ sellers. The appropriate dedications are made from the outputs (e.g. the BTC buyer/BSQ seller gets BTC with their share of mining fees and trading fees deducted; similarly, the BTC seller/BSQ buyer gets BSQ with their share of mining fees and trading fees deducted).

Now let us examine an example trade to get an idea of the structure of such a transaction.

This is how a transaction for a 1 BTC/50,000 BSQ swap with a 0.5 BSQ maker fee and 1.5 BSQ taker fee would look. We estimate the buyer's share of the mining fee to be 2000 sats and the seller's share of the mining fee to be 2500 sats.

Assuming Alice makes an offer to buy BTC (sell BSQ) and Bob takes her offer (making him BTC seller/BSQ buyer):

* Alice's BSQ input(s): min. 50,000 BSQ + 0.5 BSQ trade fee
* Bob's BTC input(s): min. 1 BTC + 2500 sat - 150 sat (his BSQ trade fee will be used for mining fee, so he needs a bit less of a mining fee)
* Bob's BSQ payout output: 50,000 BSQ - 1.5 BSQ trade fee
* Alice's BSQ change output: xxx BSQ - optional, can be omitted in case input was exact
* Alice's BTC payout output: 1 BTC - 2000 sat miner fee + 50 sat from BSQ fee
* Bob's BTC change output: yyy BTC - optional, can be omitted in case input was exact

=== Spam prevention ===

With the conventional Bisq trade protocol, the maker fee transaction acts as a spam prevention measure: you cannot create an offer without spending bitcoin.

The BSQ swap protocol has no such transaction, so instead, a proof-of-work mechanism is used. The difficulty level (number of leading zeros) is set in the filter. When creating an offer, the maker does the required POW and attaches the resulting data to their offer. Each node verifies the POW and only shows offers with valid POW.

If POW difficulty is increased, offer makers must re-do their POW in the background and republish their offers. Old offers are removed from the network and new offers with new POW are added.

Each offer has a counter appended to its offer ID (after the version number, in the full offer ID) each time a new POW is completed. This enables each re-published offer with new POW to have a new offer ID that looks the same to users (short offer ID doesn't change).

At first, POW difficulty will be set to a very low value so users do not notice anything (low milliseconds on modern laptop hardware), but will be increased as needed.

File:Bsq-swap-history.png

2021-10-18T14:32:10Z

Plebeian9000:

BSQ swap history.

File:Create-bsq-swap-offer.png

2021-10-18T14:22:22Z

Plebeian9000:

Creating a BSQ swap offer.

File:V12-conventional-trade-protocol.png

2021-10-18T13:52:14Z

Plebeian9000:

Non-atomic trade protocol for v1.2+

Main Page

2021-10-18T13:48:19Z

Plebeian9000: update markets link

{| id="mp-upper" style="width: 100%; margin:6px 0 0 0; background:none; border-spacing: 0px;"
| class="MainPageBG" style="width:55%; border:1px solid #fff; background:#fff; vertical-align:top; color:#000;" |
{| id="mp-left" style="vertical-align:top; background:#fff;"
! style="padding:2px;" | <h2 id="mp-tfa-h2" style="margin:3px; background:#f7f7f7; font-size:120%; font-weight:bold; border:1px solid #fff; text-align:left; color:#000; padding:0.2em 0.4em;">Bisq</h2>
|-
| style="color:#000;" | <div id="mp-tfa" style="padding:10px 5px">{{MainPage_Intro}}</div>
|-
! style="padding:2px" | <h2 id="mp-dyk-h2" style="margin:3px; background:#f7f7f7; font-size:120%; font-weight:bold; border:1px solid #fff; text-align:left; color:#000; padding:0.2em 0.4em;">Why?</h2>
|-
| style="color:#000;padding:2px 5px 5px" | <div id="mp-dyk" style="padding:10px 5px">{{MainPage_Reasons}}</div>
|}
| style="border:1px solid transparent;" |



| class="MainPageBG" style="width:45%; border:1px solid #fff; background:#fff; vertical-align:top;"|
{| id="mp-right" style="width:100%; vertical-align:top; background:#fff;"
! style="padding:2px" | <h2 id="mp-otd-h2" style="margin:3px; background:rgba(37, 177, 53, 0.15); font-size:120%; font-weight:bold; border:1px solid #fff; text-align:left; color:#000; padding:0.2em 0.4em;">Using Bisq</h2>
|-
| style="color:#000;padding:2px 5px 5px" | <div id="mp-otd">
{|cellpadding="2" style="background-color: inherit;"
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* '''[[Introduction]]''' — what Bisq is and why
* '''[https://bisq.network/getting-started Getting started]''' — complete your first trade in minutes
* '''[[Downloading and installing]]''' — or [https://github.com/bisq-network/bisq/blob/master/docs/build.md build it yourself]
* '''Backing up critical data''' — [[Backing_up_your_wallet_seed|seed words]] and [[Backing_up_application_data|data directory]]
* '''[https://www.youtube.com/watch?v=HDkzUl9wibc Take a tour]''' — get acquainted with the interface
* '''[[Payment methods]]''' — supported payment methods and limitations
* '''[[Trading fees]]''' — competitive rates for unparalleled privacy
* '''[https://bisq.markets Markets]''' — current offers and recent trades
* '''[[Dispute resolution]]''' — what happens when a trade doesn't go smoothly
* '''[[Support]]''' — where to go when you need support
* '''Tips and Tricks''' — how to get the most out of Bisq ([[Performance_Tips|performance]] + [[Privacy_Tips|privacy]])


</div>
|}
|-
! style="padding:2px" | <h2 id="mp-otd-h2" style="margin:3px; background:rgba(37, 177, 53, 0.15); font-size:120%; font-weight:bold; border:1px solid #fff; text-align:left; color:#000; padding:0.2em 0.4em;">Contributing</h2>
|-
| style="color:#000;padding:2px 5px 5px" | <div id="mp-otd">
{|cellpadding="2" style="background-color: inherit;"
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* '''[[Contributor_checklist|Contributor checklist]]''' — see how we think, work, and collaborate
* '''[https://github.com/bisq-network GitHub]''' — all the code
* '''[https://github.com/orgs/bisq-network/projects/3 Current projects]''' — see what we're up to right now
</div>
|}
|-
! style="padding:2px" | <h2 id="mp-otd-h2" style="margin:3px; background:rgba(37, 177, 53, 0.15); font-size:120%; font-weight:bold; border:1px solid #fff; text-align:left; color:#000; padding:0.2em 0.4em;">Network activity and stats</h2>
|-
| style="color:#000;padding:2px 5px 5px" | <div id="mp-otd">
{|cellpadding="2" style="background-color: inherit;"
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* '''[https://bisq.network/stats Overview]''' — trading volume, BSQ issuance, other activity
* '''[https://docs.google.com/spreadsheets/d/1o-I5fAx7DJRVqYjW8fPbo0ztlGIhIZ1EM2iLc5aEHnA Trading activity]''' — all the numbers, in detail
* '''[https://monitor.bisq.network Network monitor]''' — P2P network activity, Tor metrics, other data
* '''[https://bisq.network/release-stats Release stats]''' — download numbers by release
</div>
|}
|-
! style="padding:2px" | <h2 id="mp-otd-h2" style="margin:3px; background:rgba(37, 177, 53, 0.15); font-size:120%; font-weight:bold; border:1px solid #fff; text-align:left; color:#000; padding:0.2em 0.4em;">Community</h2>
|-
| style="color:#000;padding:2px 5px 5px" | <div id="mp-otd">
{|cellpadding="2" style="background-color: inherit;"
|-
* '''[https://keybase.io/team/bisq Keybase]''' — where everyone hangs out and collaborates
* '''[https://twitter.com/bisq_network/ Twitter]''' — user-facing announcements and news
* '''[https://bisq.network/blog Blog]''' — longer-form updates and perspectives
* '''[https://youtube.com/c/bisq-network YouTube]''' — calls, how-tos, interviews, and more
* '''[https://bisq.community Forum]''' — ask questions, post opinions
* '''[https://reddit.com/r/bisq Reddit]''' — mingle with other redditors who use Bisq
</div>
|}
|}

</noinclude>__NOTOC____NOEDITSECTION__

SWIFT

2021-09-08T18:15:32Z

Plebeian9000:

'''SWIFT''' (international wire transfer) is a network that allows financial institutions worldwide to send and receive payments internationally in multiple currencies.

Sender and receiver typically incur fees and payment times can also be slow (up to 7 days), but payments are secure and almost completely irreversible.

See [[Payment_methods#Fiat_payment_methods|this table]] for up-to-date trade limits and [[Account_limits#Account_signing|signing requirements]].

== Background ==

Almost all banks have access to the SWIFT network. Some money transfer services also give users access to the SWIFT Network.

In order to set up a SWIFT payment account in Bisq, you will need:
* BIC/SWIFT code
* IBAN code

Also ensure that you are aware of:
* bank fees for sending and receiving SWIFT payments
* which currencies you can accept
* what the exchange rate would be in case conversion is necessary

'''Policies vary by bank, and sometimes conversion fees are charged unexpectedly, so make sure you are aware of your bank's policies beforehand.'''

== Setting up the payment account ==

When [[Creating_a_payment_account#Creating_a_national_currency_account|creating a new payment account]] for SWIFT, keep the following in mind:
* Traders using SWIFT on Bisq could be anywhere in the world, so please fill all fields completely and accurately
* If you are not comfortable sharing your own address, provide the address of your bank

{{Admonition_Note|'''By default, Bisq sets up your SWIFT account to make and take offers from any country and any currency.''' This means SWIFT accounts on Bisq are able to trade on ALL fiat currency markets. The currency for a particular trade will always be specified by the maker in their offer.}}

Note: if you transact in a currency that is not native to your bank account (as either maker OR taker), your bank may make you pay currency exchange fees. '''It is your responsibility to cover these fees.''' Please make 100% sure you're aware of what to expect before making or taking an offer.

== Notes on buying BTC ==

You can buy BTC with SWIFT on Bisq in 2 waysː

# Make an offer to buy BTC on a currency market of your choosing
# Take an offer to buy BTC on the currency market specified in the offer

=== Send payment in correct currency ===

'''The bitcoin buyer must send payment in the currency of the market on which the offer was made.''' For example, if you make an offer to buy BTC using SWIFT on the BTC/USD market you should send USD (or ensure your bank converts your local currency into USD). Alternatively, if you take an offer to buy BTC using SWIFT on the BTC/EUR market you must send EUR.

Failure to send payment in the correct currency will result in a penalty for the BTC buyer of either (1) 5% of the trade amount or (2) the amount the receiver is missing in the specified currency as a result of the currency exchange (whichever is greater).

=== Put an appropriate reason for payment ===

In general, [[Trading_rules#Leave_the_.22reason_for_payment.22_field_empty|the reason for payment field should be left blank]].

Some users have reported instances in which an intermediary bank converts a payment's currency to the their own currency before converting back to the destination bank's local currency, and taking fees for doing this.

If you don't want this to happen, consider making the SWIFT sender put "DO NOT CONVERT" in the comment field for the wire transfer (not the comment field of the Bisq payment account). This will only work if the recipient is able to handle multi-currency incoming SWIFT payments.

=== Use the correct fee option ===

SWIFT transfers for Bisq trades should use the SHA (SHAred) fee option. [[#Understanding_SWIFT_fees|More on this below]].

== Notes on selling BTC ==

You can sell BTC with SWIFT on Bisq in 2 waysː

# Make an offer to sell BTC on a currency market of your choosing
# Take an offer to sell BTC on the currency market specified in the offer

The BTC seller should receive the funds in the currency specified in the offer. For example, if you ''make'' an offer to sell BTC using SWIFT on the BTC/USD market, you will receive USD. Alternatively if you ''take'' an offer to sell BTC using SWIFT on the BTC/EUR market, you will receive EUR.

Since SWIFT senders must use the SHA (SHAred) fee option for Bisq trades, sellers may incur fees on their end ([[#Understanding_SWIFT_fees|see more below]]). Make sure you are aware of these fees before selling BTC using SWIFT.

== Understanding SWIFT fees ==

When sending a SWIFT transfer the sender has three fee options to choose from:

* BEN (BENeficiary) – payee (recipient of the payment) incurs all payment transaction fees. Typically, the recipient receives the payment minus the transaction fees. The payer (sender of the payment) does not pay any transaction fees.
* OUR – payer (sender of the payment) incurs all payment transaction fees. Normally you are billed separately for the payment transfer. The payee (recipient of the payment) does not pay any transaction fees. The beneficiary receives the full payment amount.
* SHA (SHAred) – payer (sender of the payment) pays all fees charged by the sending bank, which are billed separately. The payee (recipient of the payment) pays all fees charged by their receiving bank. The recipient receives the payment minus any applicable fees.

'''Bisq requires buyers to use the SHA (SHAred) fee option for SWIFT transfers.''' If a BTC buyer sends a payment using the BEN (BENeficiary) fee option, they will likely incur a penalty to compensate the BTC seller.

Please make sure you are aware of your bank's fee schedule for the SHA (SHAred) fee option. Normally it will be $5-25 USD equivalent, but every bank is different.

Reducing memory usage

2021-08-21T18:18:37Z

Plebeian9000: remove background section...was interesting information, but rather confusing for most and not relevant since it is now addressed in the software

Reducing memory usage

2021-08-21T18:16:48Z

Plebeian9000: change 8gb maxram setting to 4gb

Bisq is known to be a resource-hungry application, so some users may want to '''reduce memory usage'''.

__TOC__

{{Run_with_Java_options|<nowiki>-XX:MaxRAM=4g</nowiki>|Reduce Bisq's memory usage by setting a ceiling of 4GB}}

== Persistent setting and Windows work-around ==

If you'd rather not specify the RAM parameter every time you start Bisq, you can specify it in <code>Bisq.cfg</code> so it automatically takes effect every time.

First, make sure Bisq is closed.

Your <code>Bisq.cfg</code> file is in the directory with your Bisq binary (this is different from your [[Data_directory|data directory location]]). See [[Running from the command line|locations for each OS here]].

Navigate to the directory with your Bisq binary. Using Windows as an example, this would be <code>$home\AppData\Roaming\Bisq\</code>.

<code>Bisq.cfg</code> should be in the <code>app</code> directory.

Open that file in a text editor. Look for the <code>[JavaOptions]</code> section, and a line in that section that look something like <code>java-options=-XX:MaxRAM=8g</code>. Change it to <code>java-options=-XX:MaxRAM=4g</code>, or add it if it's not already there.

[JavaOptions]
java-options=-XX:MaxRAM=4g

Save the file, close it, and then open Bisq.

== Background ==

One of the settings Java virtual machines (JVMs) use to calibrate how much physical memory to reserve at startup is '''MaxRAM''', and there is a good chance your JVM's default MaxRAM configuration is too large.

To check the default MaxRAM setting, run this <code>java</code> command:

java -XX:+UnlockDiagnosticVMOptions -XX:+PrintFlagsFinal -version | grep MaxRAM

Look for the <code>MaxRAM</code> value (bytes) in the output. An example:

367: uint64_t MaxRAM = 137438953472

This means the OpenJDK 11 JVM's MaxRAM setting is 128GB, much more RAM than the average desktop machine has.

Experiments have shown running Bisq with a 4GB MaxRAM setting reduces memory consumption by more than 50% (when starting a clean Bisq installation with an empty data directory). Setting MaxRAM to 2GB reduces resident memory usage even more, but setting it any lower (1536m) will result in an OutOfMemoryError and crash the app.

As of version 1.3.2, Bisq starts with a MaxRAM setting of 4GB. If you're still having issues, try setting the parameter yourself as described above.

Reducing memory usage

2021-08-21T18:10:54Z

Plebeian9000: add section to explain adding java options to bisq.cfg

Bisq is known to be a resource-hungry application, so some users may want to '''reduce memory usage'''.

__TOC__

{{Run_with_Java_options|<nowiki>-XX:MaxRAM=4g</nowiki>|Reduce Bisq's memory usage by setting a ceiling of 4GB}}

== Persistent setting and Windows work-around ==

If you'd rather not specify the RAM parameter every time you start Bisq, you can specify it in <code>Bisq.cfg</code> so it automatically takes effect every time.

First, make sure Bisq is closed.

Your <code>Bisq.cfg</code> file is in the directory with your Bisq binary (this is different from your [[Data_directory|data directory location]]). See [[Running from the command line|locations for each OS here]].

Navigate to the directory with your Bisq binary. Using Windows as an example, this would be <code>$home\AppData\Roaming\Bisq\</code>.

<code>Bisq.cfg</code> should be in the <code>app</code> directory.

Open that file in a text editor. Look for the <code>[JavaOptions]</code> section, and a line in that section that look something like <code>java-options=-XX:MaxRAM=8g</code>. Change it to <code>java-options=-XX:MaxRAM=4g</code>, or add it if it's not already there.

[JavaOptions]
java-options=-XX:MaxRAM=8g

Save the file, close it, and then open Bisq.

== Background ==

One of the settings Java virtual machines (JVMs) use to calibrate how much physical memory to reserve at startup is '''MaxRAM''', and there is a good chance your JVM's default MaxRAM configuration is too large.

To check the default MaxRAM setting, run this <code>java</code> command:

java -XX:+UnlockDiagnosticVMOptions -XX:+PrintFlagsFinal -version | grep MaxRAM

Look for the <code>MaxRAM</code> value (bytes) in the output. An example:

367: uint64_t MaxRAM = 137438953472

This means the OpenJDK 11 JVM's MaxRAM setting is 128GB, much more RAM than the average desktop machine has.

Experiments have shown running Bisq with a 4GB MaxRAM setting reduces memory consumption by more than 50% (when starting a clean Bisq installation with an empty data directory). Setting MaxRAM to 2GB reduces resident memory usage even more, but setting it any lower (1536m) will result in an OutOfMemoryError and crash the app.

As of version 1.3.2, Bisq starts with a MaxRAM setting of 4GB. If you're still having issues, try setting the parameter yourself as described above.

Template:Default data directory locations

2021-08-21T18:01:46Z

Plebeian9000: specify path commands for cmd and powershell

=== Windows ===

Using PowerShell:

$home\AppData\Roaming\Bisq\

Using <code>cmd</code>:

%USERPROFILE%\AppData\Roaming\Bisq\

=== macOS ===

/Users/<username>/Library/Application Support/Bisq/

=== Linux ===

/home/<username>/.local/share/Bisq/

Template:Run with command line options

2021-08-21T17:59:14Z

Plebeian9000: update syntax for powershell command

=== Windows ===

Open PowerShell (search the Start menu for <code>PowerShell</code>).

Then from PowerShell, run the following command to switch to your Bisq application directory:

cd $home\AppData\Local\Bisq

Then run the following command to run Bisq:

start Bisq.exe {{{1}}}

=== macOS ===

Open a terminal window by searching for Terminal with Spotlight, and then press <code>Enter</code>.

Then run the following command:

/Applications/Bisq.app/Contents/MacOS/Bisq {{{1}}}

=== Linux ===

In a new terminal window, run the following command:

/opt/bisq/bin/Bisq {{{1}}}

Trading fees

2021-06-01T17:07:50Z

Plebeian9000: remove absolute minimum fee rates from table and add notes on fee determinations

'''Trading fees''' are paid to fund the [[DAO | Bisq DAO]] when making or taking an offer. Fees can be paid in BSQ or BTC.

__TOC__

== Getting a discount ==

Bisq encourages traders to use [[BSQ]] by offering a discount of approximately 50%, since BSQ fees help fund Bisq's development. This discount fluctuates as the BSQ/BTC rate fluctuates. To maintain the 50% discount target, trading fees are [[update BSQ trading fees | updated]] every cycle as necessary.

{{Admonition_Note|If you're interested in using BSQ to pay trading fees, [[Paying_trading_fees_with_BSQ#Acquire_BSQ|see this article for instructions]].}}

== Current rates ==

{| class="wikitable" style="width: 250px;"
|+ Trading Fees per 1 BTC
|-
!
!BTC
!BSQ
|-
!Maker
|0.001
|11.45
|-
!Taker
|0.007
|80.13
|}

Combined BTC trading fee rate is 0.8% (0.1% by maker and 0.7% by taker). Absolute minimum fee to avoid dust is 0.00005 BTC.

Combined BSQ trading fee rate is targeted at 0.4% (0.05% by maker and 0.35% by taker). Absolute minimum fee to avoid dust is 0.03 BSQ.

Trading fee rates and absolute minimums are DAO parameters that [[Proposals|must be proposed]] and approved through DAO voting in order to take effect. BTC fee rates tend to stay constant, but BSQ rates are [[Updating_BSQ_trading_fees|adjusted every cycle]] to account for BSQ rate fluctuation.

== Selecting how to pay ==

Traders choose how they'd prefer to pay trading fees while making or taking an offer. BSQ and BTC amounts (and fiat equivalents) are shown.

[[File:Pick-trade-fee-currency.png|600px|thumb|left|Pick how to pay trade fees on this screen while making or taking an offer.]]
<div style="clear: both;"></div>

[[Category:Features]]

Trading fees

2021-06-01T00:15:20Z

Plebeian9000: add absolute minimum fee rates for btc and bsq

'''Trading fees''' are paid to fund the [[DAO | Bisq DAO]] when making or taking an offer. Fees can be paid in BSQ or BTC.

__TOC__

== Getting a discount ==

Bisq encourages traders to use [[BSQ]] by offering a discount of approximately 50%, since BSQ fees help fund Bisq's development. This discount fluctuates as the BSQ/BTC rate fluctuates. To maintain the 50% discount target, trading fees are [[update BSQ trading fees | updated]] every cycle as necessary.

{{Admonition_Note|If you're interested in using BSQ to pay trading fees, [[Paying_trading_fees_with_BSQ#Acquire_BSQ|see this article for instructions]].}}

== Current rates ==

{| class="wikitable" style="width: 250px;"
|+ Trading Fees per 1 BTC
|-
!
!BTC
!BSQ
|-
!Maker
|0.001
|11.45
|-
!Taker
|0.007
|80.13
|-
!Minimum
|0.00005
|0.03
|}

Combined BTC trading fee rate is 0.8% (0.1% by maker and 0.7% by taker).

Combined BSQ trading fee rate is targeted at 0.4% (0.05% by maker and 0.35% by taker).

== Selecting how to pay ==

Traders choose how they'd prefer to pay trading fees while making or taking an offer. BSQ and BTC amounts (and fiat equivalents) are shown.

[[File:Pick-trade-fee-currency.png|600px|thumb|left|Pick how to pay trade fees on this screen while making or taking an offer.]]
<div style="clear: both;"></div>

[[Category:Features]]

Running Bisq on Qubes

2021-04-29T15:51:54Z

Plebeian9000: implement suggestion in https://github.com/bisq-network/wiki/issues/43

This guide shows '''how to run Bisq in a dedicated qube in QubesOS'''. The steps were tested using QubesOS 4.0.3 and a Bisq qube based on the <code>debian-10</code> template.

__TOC__

= How to setup =

== In dom0 ==

Execute the following steps in dom0.

=== Create qube ===

Create a new dedicated qube called <code>bisq-vm</code> based on the <code>debian-10</code> template.

* Q Menu > Create Qubes VM > Qube based on a template
* Template: choose <code>debian-10</code>
* Check "Launch settings after creation"
* Press OK

Within a few seconds, the qube is created and the Qube Settings popup opens. Adjust it as follows:

* Basic > Disk Storage
** Set "Private Storage max size" to at least <code>5000 MiB</code> [1]
* Advanced > Memory / CPU
** Set "Initial memory" to <code>6000 MB</code> [2]
** Set "vCPUs no." to <code>4</code>
** Uncheck "Include in memory balancing" [3]
* Press OK

== In dedicated qube ==

Execute the following steps in the <code>bisq-vm</code> qube.

=== Create binding dirs ===

Create the binding dirs needed for the Bisq installation:

<pre>
sudo mkdir -p /rw/bind-dirs/opt/Bisq
sudo mkdir -p /rw/bind-dirs/usr/share/desktop-directories
</pre>

Restart the qube to apply the binding dir settings.

=== Configure binding dirs ===

Setup the binding dirs mapping for the system folders needed for the Bisq installation:

<pre>
sudo mkdir -p /rw/config/qubes-bind-dirs.d
</pre>

Specify which system folders are mapped to binding dirs. To do that, create the configuration file:

<pre>
sudo nano /rw/config/qubes-bind-dirs.d/50_user.conf
</pre>

and populate it with the following lines [5] :

<pre>
binds+=( '/opt/Bisq' )
binds+=( '/usr/share/desktop-directories' )
</pre>

=== Install Bisq ===

=== Download Debian package ===

Go to the [https://bisq.network/downloads Bisq Downloads] page and download the Debian package and the corresponding PGP signature.

==== Verify PGP signature ====

Check that the downloaded package matches the signature [4]. Assuming the files were downloaded in the Downloads folder:

<pre>
# Go to the folder where you downloaded the .deb package and the PGP signature
cd Downloads

# Import the signing key of Christoph Atteneder
curl https://bisq.network/pubkey/29CDFD3B.asc | gpg --import

# Verify the signature of the downloaded binary
gpg --digest-algo SHA256 --verify Bisq-*.asc
</pre>

==== Install package ====

<pre>
sudo dpkg -i Bisq-*.deb
</pre>

Once this command finishes, Bisq is installed and ready to run.

= How to run =

== From dedicated qube ==

Bisq can be started by running <code>/opt/Bisq/Bisq</code> in the <code>bisq-vm</code> qube.

== From dom0 ==

To start Bisq directly from dom0, a keyboard shortcut can be defined:

* Q Menu > System Tools > Keyboard > Application Shortcuts
* Add a shortcut where the command has the format <code>qvm-run -q -a <qube-name> <command></code>
** For example, in our case: <code>qvm-run -q -a bisq-vm /opt/Bisq/Bisq</code>
* Assign a system-wide key combination for starting Bisq
** For example <code>Ctrl+Alt+B</code>
* Press OK

Now pressing the key combination anywhere in QubesOS will automatically start the Bisq application.

= Further reading =

* See [https://www.qubes-os.org/doc/bind-dirs Qubes tutorial] for what binding dirs are and how they work
* See [https://www.qubes-os.org/doc/qmemman/ Qubes documentation] for how memory balancing works
* See https://www.whonix.org/wiki/Bisq for a similar setup guide for a [https://www.whonix.org Whonix] Qube

= References =

[1] Assuming you only use this Qube for Bisq, this amount of storage will be used for all Bisq files (downloaded installer, installation folder, your local Bisq settings and profile, your Bisq wallet, Bisq logs, etc). Therefore it is important to have enough disk space available, because if Bisq runs out of storage space, this may lead to data corruption and loss of funds. For reference: A fresh Qube containing only a fully sync-ed new installation of Bisq 1.3.6, with no trades / accounts / balances, uses about 1GB of space.

[2] Bisq needs 4 GB, the rest is for other OS processes.

[3] This will ensure that the RAM allocated to this qube is not shared with other Qubes.

[4] For more details, see Verifications section on the [https://github.com/bisq-network/bisq/releases/ Bisq GitHub releases page]

[5] The <code>/usr/share/desktop-directories</code> is not really used, but is required during installation. See [https://github.com/bisq-network/bisq/issues/848 Issue 848]

[[Category:Guides]]

Frequently asked questions

2021-04-29T00:27:30Z

Plebeian9000: add question about security deposits

Below is a compilation of '''frequently-asked questions''' about Bisq, how to use it, and how to help the project.

Feel free to ask further questions on any of Bisq's many outreach channels.

== About ==

==== How is Bisq different from other decentralized exchanges? ====

Bisq is a peer-to-peer trading network, not a website or "app" or other centralized service. It's software you run on your own hardware, which connects to other people running the Bisq software to facilitate trades. It's open-source and community-driven.

And you can trade bitcoin for fiat currencies with it!

The difference between Bisq and other so-called decentralized exchanges is as stark as the difference between owning your own home and renting someone else's—in the former case you have full control over the property, and in the latter you're always subject to the landlord's whims and demands (no matter how nice the landlord may seem to be).

With Bisq you're always the owner—not just owner of your bitcoin, but also owner of your data.

* Bisq does not hold any bitcoin. All bitcoin used for trading is held in '''2-of-2 multisignature addresses''' controlled solely by the trading peers themselves.
* Bisq does not hold any national currency. National currency is transferred directly from one trader to the other using traditional banking and payment services.
* All Bisq data is transferred over its own secure peer-to-peer network, which is built on top of the Tor network—no central servers. This means '''there are no data honeypots''', rendering large-scale hacks of customer information databases impossible.
* Bisq does not know anything about traders who use its network, and no data is stored on who trades with whom.
* Bisq does not require registration, so your privacy is protected, and you can '''begin trading instantly'''.
* Bisq is code, not a company. It is an open-source project organized as a [[Decentralized_autonomous_organization|decentralized autonomous organization (DAO)]] built on top of Bitcoin.

See more in the [[Introduction]].

==== Is Bisq open-source software? ====

Bisq's software is free/libre open-source licensed under Version 3 of the GNU Affero General Public License.

Here's the [https://github.com/bisq-network/bisq source code] and [https://github.com/bisq-network/bisq/blob/master/LICENSE license].

==== Is Bisq safe? ====

Thanks to strong incentives encouraging traders to play fairly, the vast majority of trades on Bisq go smoothly and quickly.

Bisq employs three primary mechanisms to achieve security:

* All bitcoin traded with Bisq is secured in a 2-of-2 multisignature address.
* Both traders are required to pay security deposits, which are refunded after trades are completed.
* Trade disputes are handled through a [[Dispute_resolution|3-tier mechanism]] that includes end-to-end encrypted trader chat, mediation, and arbitration.

When trading fiat currency for bitcoin, there is always some chargeback risk, as fiat transactions can often be reversed.

To mitigate this risk, Bisq:

* only supports payment methods which are known to make chargebacks difficult—this is why Bisq does not support PayPal and credit cards, for example. See more on chargeback risks.
* employs an [[Account_limits#Account_signing account|signing mechanism]] that forces 0.01 BTC buy limits until a buyer's integrity (not identity!) is verified.

== Getting started ==

==== I find Bisq very confusing. I've tried using it but just end up getting lost! ====

Some people find Bisq's interface intuitive, but many people don't. Check out [https://www.youtube.com/watch?v=HDkzUl9wibc this tour video] to help you make sense of the interface, and then check out the [https://www.youtube.com/watch?v=QjmpAq9RUXM Bird's Eye View of a Bisq Trade] video for a high-level overview of how Bisq trading works.

Then check out the [https://bisq.network/getting-started getting-started guide] to see how to get up and running quickly.

As of April 2021, Bisq contributors have designed a whole new beautiful interface that should make Bisq significantly more intuitive, and are also in touch with a talented UI developer to turn the design into code. You can follow progress on this initiative [https://github.com/bisq-network/projects/issues/49 here].

==== I can't use Bisq to trade because there are hardly ever any offers in my currency. What can I do? ====

While Bisq can technically support any market, only a handful of markets are consistently active on Bisq—mainly because they offer good payment methods and had strong on-the-ground support to bootstrap them in the beginning.

{{Admonition_Note|Note that a weak offer book in a particular market doesn't ''necessarily'' mean trades don't take place in that market. It could be that there are people lurking there that will happily take an offer if you take the initiative to make one (this is often the case in markets like CAD, AUD, and GBP, for example).

You can check trade history for your market by going to <code>Market</code> > <code>Trades</code> and picking your currency from the dropdown.}}

If your market has no recent trades, a little more work will need to be done to get it going. At a minimum, payment methods common in your market should be added ([https://github.com/bisq-network/growth/issues/new/choose suggest them here]), and some form of marketing should be done to get users and market-makers to bootstrap a market.

Bisq contributors are more than happy to help if you can help with guidance, connections to people who can help, and/or events and translations and other vehicles for reaching your target demographics.

==== I heard I need bitcoin in order to buy bitcoin on Bisq...but I don't have any bitcoin. What can I do? ====

Yes, the chicken-and-egg problem with Bisq is real.

Here are some ways to get just enough bitcoin to do your first trade on Bisq:
* try to obtain some yourself using [https://bisq.wiki/Funding_your_wallet#How_to_Obtain_Your_First_Bitcoin these suggestions]
* hop onto the <code>#buy-bitcoin</code> channel on [https://keybase.io/team/bisq Keybase] and make a deal ([[Informal_Market_for_Small_BTC_Trades|see more here]])

== Trading ==

==== What are trading fees? ====

[[Trading fees]] are calculated as a percentage of trade size: 0.1% for makers and 0.7% for takers if paid in BTC and about half of that if paid in BSQ.

Keep in mind that you'll also need to pay mining fees for the on-chain transactions, as well as a deposit to lock into the multisig escrow. You'll get the deposit back in full after the trade completes successfully.

==== Mining fees are too high. How can I trade on Bisq cost-effectively? ====

Bisq's current trade protocol requires 4 on-chain transactions. Takers pay for 3 of these transactions and makers pay for 1 of them.

Therefore, to make trading on Bisq as cost-effective as possible, consider '''making your own offers''' at times '''when mining fees are lower'''.

Other things you can do:
* make offers to trade '''larger amounts of BTC''' (bigger offers tend to get better pricing)
* '''pay trade fees with BSQ''' (BSQ trade fees tend to be about half of BTC trading fees)

==== Why does Bisq require a security deposit in BTC? ====

Security deposits create strong incentives for buyers and sellers to follow the [[Trading rules|rules of Bisq's trading protocol]]. Deposits are locked into multisig escrow along with the bitcoin being traded, and are returned to each user when the trade is complete.

If a trade is disputed through a mediator or arbitrator, some or all of the offending party's security deposit may be awarded to the counterparty. Examples of protocol violations include a buyer failing to pay a seller, paying with a different account or with a different name, or a seller failing to acknowledge receipt of a buyer's payment.

Most Bisq trades complete without any problem thanks in part to the incentives that security deposits create.

See full [[trading rules]].

==== What are trading limits? How much bitcoin can I buy/sell at once? ====

Trading limits vary based on payment method, since some payment methods are more secure than others.

Relatively safe payment methods such as Japan's Furikomi and Australia's PayID are set to allow trades of up to 1 BTC, but other payment methods such as Zelle and SEPA have a cap of 0.25 BTC. See the [[Payment_methods|full list of payment methods and limits]].

Altoins are not possible to charge back, so all altcoin trades have a limit of 2 BTC.

==== Which payment methods are available? ====

See [[payment methods]].

If you'd like to suggest a payment method to be added, please [https://github.com/bisq-network/growth/issues/new/choose submit a new issue].

==== How does Bisq handle fiat like dollars and euros? Where does it go? ====

Bisq doesn't handle fiat at all -- it only handles BTC. Trades are settled outside of Bisq, meaning fiat payments are sent outside Bisq via traditional banking services.

Bisq merely matches peers and sets incentives (e.g. locking a BTC security deposit from both peers, as a sort of escrow) to encourage both trading peers to act in good faith. This is also why you need bitcoin to begin trading on Bisq.

==== How long does a trade take? ====

There is no automatic order matching on Bisq, and trades are settled manually by humans. As a result, trades are not completed as quickly as they would be on centralized exchanges, but can still be fairly quick.

Some payment methods are instant (e.g., Faster Payment) while others can take a few days (e.g., SEPA).

As far as Bisq is concerned, the deposit transaction needs to be confirmed once before the buyer can send payment. Bitcoin transactions take about 10 minutes to confirm, so with quick traders and quick payment method, a Bisq trade can be completed in a matter of minutes.

Altcoin trade periods are always 1 day (or 1 hour for Altcoins Instant trades).

See the list of [[payment methods]] for complete details.

==== How does Bisq protect my privacy? ====

Bisq is standalone, open-source software that you can inspect before running on your machine, and as a result, you don't have to trust that any server is logging your personal details (as you would in the case of a website).

As for the trading process, your payment information is stored locally on your machine, and only your trading partner (and your mediator or arbitrator, in case of a dispute) can ever see it. All data exchanged between users is encrypted and signed.

To transmit data from one user to another, Bisq uses a P2P network built on top of Tor, which provides a high degree of anonymity. The user doesn't need to do any additional work for all of this to work—it is all integrated in the application.

==== Do I need to keep Bisq online for my offers to remain online? ====

Yes. There are no central servers on the Bisq network—so all peers are responsible for keeping their offers online.

If you have published an offer, your Bisq application needs to stay online so it can react when another trader wants to take your offer (the multisig deposit transaction is created in the take-offer process). Be sure you have deactivated your computer's standby mode so your Bisq application can stay online (monitor standby is not a problem).

If your Bisq application does go offline, your offer will get removed from the distributed offerbook. It will be re-published the next time you start your Bisq application.

After an offer has been taken and the trade process has started, neither trader needs to be online continuously, but each trader will need to be online periodically to check if any action is needed on their side (e.g. sending fiat/altcoin, confirming payment receipt, etc).

==== Do I have to use the Bisq wallet? ====

No, but you may find it convenient to keep a small amount of trading capital there.

When entering a new trade on Bisq, you will get the option to transfer funds from your Bisq wallet ''or'' send funds from an external wallet.

Likewise, when concluding a trade on Bisq, you can withdraw your funds to the Bisq wallet or to an external wallet.

==== Do I have to use the Bisq token? ====

No, using BSQ is totally optional. However, using it gets you a ~50% discount on [[trading fees]] while helping to [[Introduction_to_the_DAO#Earn_and_distribute_revenue|compensate Bisq contributors]] at the same time.

==== Will my bank know I'm trading bitcoin? ====

Generally speaking, Bisq doesn't deal with banks at all. All fiat transfers take place directly between users.

But there have been reports of banks closing accounts upon suspecting bitcoin activity. As a result, Bisq requires that the "reason for payment" field always be left BLANK when making a payment (if the payment method offers such a field).

If a reason is required, it should be something trivial like a "-" or "payment". If you want to use something else, please agree on an alternative with your peer using trader chat.
See full [[trading rules]] for more information.

== Common Technical Niggles ==

==== Bisq on macOS won't open, or it's asking for permission to record my keystrokes! ====

If Bisq won't open, try right-clicking the app and clicking <code>Open</code>.

If you get the prompt asking to record your keystrokes, rest assured it's a [https://github.com/bisq-network/bisq/issues/3373 bug] (Bisq is absolutely not recording your keystrokes). This bug should be fixed with a [[https://github.com/bisq-network/projects/issues/44|Java LTS version update]] coming soon.

==== Bisq seems to bog down my computer. When I open it, CPU and memory usage spike. Can this be prevented? ====

Bisq has had memory usage and CPU usage issue on certain operating systems in the past, but these issues should be resolved now. You can manually set the max RAM usage by following [[Reducing_memory_usage|these instructions]].

Chances are Bisq is probably just trying to sync blockchain data. New releases of Bisq include data stores updated at release time to reduce this syncing time, but as a release gets older (i.e., beyond 3-4 weeks old), the data stores get older, and syncing takes longer. Just let it finish and your computer resources should go back down to normal again.

If the issue doesn't go away on its own, please reach out for help in the <code>#support</code> channel [https://keybase.io/team/bisq on Keybase] or open an issue [https://github.com/bisq-network/bisq on GitHub].

==== I'm on a high-resolution monitor on Linux and everything is way too small. Help? ====

See [[Running_on_HiDPI_screen|this article]] for a tip on fixing this issue.

== Dispute resolution ==

==== How does dispute resolution work? ====

Bisq provides a 3-layer mechanism for resolving disputes: trader chat, mediation, and arbitration.

Trader chat enables traders to resolve small issues themselves privately over end-to-end encrypted chat right in Bisq. If this doesn't work, traders can engage a mediator to examine the situation and suggest a payout. In rare circumstances that mediation fails, a trader can choose to engage an arbitrator to re-examine the situation and make a payout.

Veteran users: please note that the arbitrator role changed significantly with the launch of the new trade protocol on v1.2.

See [[trading rules]] and [[dispute resolution]] for more.

==== How is collusion between mediators, arbitrators, and traders prevented? ====

With the launch of the new trading protocol in v1.2, multisig escrows went from 2-of-3 to 2-of-2 arrangements, so that only the two trading peers have control of trading funds (instead of the 2 trading peers and an arbitrator). With no keys in the multisig escrow, it is no longer possible for a mediator or arbitrator to collude with another trader to release funds maliciously.

Mediators and arbitrators are still bonded roles, however, because even though they cannot sign a payout transaction to resolve a dispute, they can ''advise'' how to resolve a dispute, and it's important that they be responsive, responsible, and fair when doing so.

==== What happens if the person buying bitcoin does a chargeback after the bitcoin has been released from the multisig address? ====

Bisq only supports payment methods for which chargebacks are not easy (e.g., this is why PayPal and credit cards are not supported). But there is still a little chargeback risk with banks. If a bank executes a chargeback after the BTC has been released, there is nothing a mediator or arbitrator can do.

Bisq's goal is to make this scenario as unattractive as possible, using three primary mechanisms:

# [[Account limits|Account aging]] requires newly-created fiat payment accounts on Bisq to have lower trade limits, and those limits are increased over time.
# [[Account_limits#Account_signing|Account signing]] requires higher-risk payment methods to be signed upon verifying the integrity of a trader before account aging kicks in. Until such accounts are signed, buy limits are set to 0.01 BTC.
# National currency payment methods which are found to be used for chargebacks are quickly removed.

==== Wouldn't a pure reputation system among traders make mediators and arbitrators unnecessary? ====

Pure reputation without additional dispute resolution measures is a weak protection system, as you can never avoid [https://en.wikipedia.org/wiki/Sybil_attack sybil] or [https://en.wikipedia.org/wiki/Confidence_trick long con] attacks.

Such mechanisms are also problematic for protecting privacy and for keeping the service decentralized.

==== How can I contact my trading peer? ====

Bisq has a built-in end-to-end encrypted [[Dispute_resolution#Level_1:_Trader_chat|chat mechanism]] that you can use to talk to your trading peer while the trade is in progress.

== DAO ==

==== What is the Bisq DAO? ====

The Bisq DAO (decentralized autonomous organization) is a decentralized governance mechanism for the Bisq software, built on Bitcoin. It takes the place of a company. How good can decentralized software possibly be if it's still controlled by a single entity, like a company?

Decentralized software is no good without decentralized governance.

That's why Bisq is not a company or legal entity of any kind—instead, it's organized as a DAO. The DAO handles the software's funding and strategy-making to enable the Bisq network to thrive, and at the same time, harden it against attacks on the infrastructure that powers its leadership and operation.

In a nutshell, the Bisq DAO enables Bisq to become even more censorship-resistant, a core [[Introduction|principle of the project]] from the very beginning.

Read more about the Bisq DAO in [[Introduction_to_the_DAO|this introductory article]].

==== How does the Bisq DAO work? ====

The primary purposes of the Bisq DAO are financing the project and determining strategy.

# Trading fees are distributed directly from traders to contributors with a token (colored bitcoin) called BSQ.
# Strategy is determined collectively through voting done in the Bisq software and recorded on the Bitcoin network.

Learn more about how this actually works in [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e this series of short 3-5 minute videos].

See [[Decentralized_autonomous_organization|this article]] for a full list of resources to learn more.

==== What do I need to know about the DAO, as a trader? ====

First of all, you are NOT required to use the BSQ token or Bisq DAO to use Bisq.

But there are benefits to doing so: you'll pay lower trading fees by using BSQ instead of BTC.

But why have the BSQ token at all? Because it enables Bisq contributors to be paid for their work without any central wallets or points of control. When you buy BSQ, you're directly paying a Bisq contributor for their work, and in the process, helping to sustain the whole project. The dynamic this token enables is not possible with plain bitcoin.

When you use BSQ to pay trading fees, it's destroyed and 'burned' out of existence.

[[Introduction_to_the_DAO#Overview|See more on this dynamic here]].

==== Is Bisq using a token because it needs money? What's the issuance schedule for the token? ====

Bisq already earns revenue from trading fees. It's not launching this DAO and BSQ token for ''earning'' revenue—it's doing it to ''distribute'' the revenue it already earns to more people without any central points of control.

BSQ tokens are issued every time a contributor's compensation request is approved through voting, and the tokens are destroyed every time a trader uses BSQ to pay trading fees.

BSQ issuance is not a 1-time event, and its purpose is not to raise capital. You can see a walk-through of the BSQ issuance process in [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e this video series].

==== Can I use Bisq without BSQ and without this DAO? ====

You could. All you'd have to do is pay your trading fees with BTC instead of BSQ. But we hope you don't, because doing so would render the project unsustainable.

Before the Bisq DAO, trading fees went to just a couple of wallets owned by specific Bisq contributors (arbitrators). All other contributors were not paid. Bisq needs its contributors to be paid in regular, predictable ways to ensure continual (and reliable) development, service, and growth; the Bisq DAO enables this to happen by distributing trading fees to all contributors in a totally decentralized way.

The Bisq DAO and BSQ token enable a funding and governance mechanism that is [[https://bisq.network/blog/bisq-dao-for-bitcoin-maximalists/ not possible with plain bitcoin]]. We highly recommend you check [[Decentralized_autonomous_organization|out the documentation]] and [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e video series]] to learn more.

== Other ==

==== This project is cool! How can I help out? ====

Check out the [[contributor checklist]]. We'd love to hear from you!

==== I have a question that isn’t covered here...? ====

Feel free to reach out [https://keybase.io/team/bisq on Keybase] or [https://bisq.network/#community any other channel].

Frequently asked questions

2021-04-29T00:12:21Z

Plebeian9000: migrate, refine, and strengthen faqs page from website

Below is a compilation of '''frequently-asked questions''' about Bisq, how to use it, and how to help the project.

Feel free to ask further questions on any of Bisq's many outreach channels.

== About ==

==== How is Bisq different from other decentralized exchanges? ====

Bisq is a peer-to-peer trading network, not a website or "app" or other centralized service. It's software you run on your own hardware, which connects to other people running the Bisq software to facilitate trades. It's open-source and community-driven.

And you can trade bitcoin for fiat currencies with it!

The difference between Bisq and other so-called decentralized exchanges is as stark as the difference between owning your own home and renting someone else's—in the former case you have full control over the property, and in the latter you're always subject to the landlord's whims and demands (no matter how nice the landlord may seem to be).

With Bisq you're always the owner—not just owner of your bitcoin, but also owner of your data.

* Bisq does not hold any bitcoin. All bitcoin used for trading is held in '''2-of-2 multisignature addresses''' controlled solely by the trading peers themselves.
* Bisq does not hold any national currency. National currency is transferred directly from one trader to the other using traditional banking and payment services.
* All Bisq data is transferred over its own secure peer-to-peer network, which is built on top of the Tor network—no central servers. This means '''there are no data honeypots''', rendering large-scale hacks of customer information databases impossible.
* Bisq does not know anything about traders who use its network, and no data is stored on who trades with whom.
* Bisq does not require registration, so your privacy is protected, and you can '''begin trading instantly'''.
* Bisq is code, not a company. It is an open-source project organized as a [[Decentralized_autonomous_organization|decentralized autonomous organization (DAO)]] built on top of Bitcoin.

See more in the [[Introduction]].

==== Is Bisq open-source software? ====

Bisq's software is free/libre open-source licensed under Version 3 of the GNU Affero General Public License.

Here's the [https://github.com/bisq-network/bisq source code] and [https://github.com/bisq-network/bisq/blob/master/LICENSE license].

==== Is Bisq safe? ====

Thanks to strong incentives encouraging traders to play fairly, the vast majority of trades on Bisq go smoothly and quickly.

Bisq employs three primary mechanisms to achieve security:

* All bitcoin traded with Bisq is secured in a 2-of-2 multisignature address.
* Both traders are required to pay security deposits, which are refunded after trades are completed.
* Trade disputes are handled through a [[Dispute_resolution|3-tier mechanism]] that includes end-to-end encrypted trader chat, mediation, and arbitration.

When trading fiat currency for bitcoin, there is always some chargeback risk, as fiat transactions can often be reversed.

To mitigate this risk, Bisq:

* only supports payment methods which are known to make chargebacks difficult—this is why Bisq does not support PayPal and credit cards, for example. See more on chargeback risks.
* employs an [[Account_limits#Account_signing account|signing mechanism]] that forces 0.01 BTC buy limits until a buyer's integrity (not identity!) is verified.

== Getting started ==

==== I find Bisq very confusing. I've tried using it but just end up getting lost! ====

Some people find Bisq's interface intuitive, but many people don't. Check out [https://www.youtube.com/watch?v=HDkzUl9wibc this tour video] to help you make sense of the interface, and then check out the [https://www.youtube.com/watch?v=QjmpAq9RUXM Bird's Eye View of a Bisq Trade] video for a high-level overview of how Bisq trading works.

Then check out the [https://bisq.network/getting-started getting-started guide] to see how to get up and running quickly.

As of April 2021, Bisq contributors have designed a whole new beautiful interface that should make Bisq significantly more intuitive, and are also in touch with a talented UI developer to turn the design into code. You can follow progress on this initiative [https://github.com/bisq-network/projects/issues/49 here].

==== I can't use Bisq to trade because there are hardly ever any offers in my currency. What can I do? ====

While Bisq can technically support any market, only a handful of markets are consistently active on Bisq—mainly because they offer good payment methods and had strong on-the-ground support to bootstrap them in the beginning.

{{Admonition_Note|Note that a weak offer book in a particular market doesn't ''necessarily'' mean trades don't take place in that market. It could be that there are people lurking there that will happily take an offer if you take the initiative to make one (this is often the case in markets like CAD, AUD, and GBP, for example).

You can check trade history for your market by going to <code>Market</code> > <code>Trades</code> and picking your currency from the dropdown.}}

If your market has no recent trades, a little more work will need to be done to get it going. At a minimum, payment methods common in your market should be added ([https://github.com/bisq-network/growth/issues/new/choose suggest them here]), and some form of marketing should be done to get users and market-makers to bootstrap a market.

Bisq contributors are more than happy to help if you can help with guidance, connections to people who can help, and/or events and translations and other vehicles for reaching your target demographics.

==== I heard I need bitcoin in order to buy bitcoin on Bisq...but I don't have any bitcoin. What can I do? ====

Yes, the chicken-and-egg problem with Bisq is real.

Here are some ways to get just enough bitcoin to do your first trade on Bisq:
* try to obtain some yourself using [https://bisq.wiki/Funding_your_wallet#How_to_Obtain_Your_First_Bitcoin these suggestions]
* hop onto the <code>#buy-bitcoin</code> channel on [https://keybase.io/team/bisq Keybase] and make a deal ([[Informal_Market_for_Small_BTC_Trades|see more here]])

== Trading ==

==== What are trading fees? ====

[[Trading fees]] are calculated as a percentage of trade size: 0.1% for makers and 0.7% for takers if paid in BTC and about half of that if paid in BSQ.

Keep in mind that you'll also need to pay mining fees for the on-chain transactions, as well as a deposit to lock into the multisig escrow. You'll get the deposit back in full after the trade completes successfully.

==== Mining fees are too high. How can I trade on Bisq cost-effectively? ====

Bisq's current trade protocol requires 4 on-chain transactions. Takers pay for 3 of these transactions and makers pay for 1 of them.

Therefore, to make trading on Bisq as cost-effective as possible, consider '''making your own offers''' at times '''when mining fees are lower'''.

Other things you can do:
* make offers to trade '''larger amounts of BTC''' (bigger offers tend to get better pricing)
* '''pay trade fees with BSQ''' (BSQ trade fees tend to be about half of BTC trading fees)

==== What are trading limits? How much bitcoin can I buy/sell at once? ====

Trading limits vary based on payment method, since some payment methods are more secure than others.

Relatively safe payment methods such as Japan's Furikomi and Australia's PayID are set to allow trades of up to 1 BTC, but other payment methods such as Zelle and SEPA have a cap of 0.25 BTC. See the [[Payment_methods|full list of payment methods and limits]].

Altoins are not possible to charge back, so all altcoin trades have a limit of 2 BTC.

==== Which payment methods are available? ====

See [[payment methods]].

If you'd like to suggest a payment method to be added, please [https://github.com/bisq-network/growth/issues/new/choose submit a new issue].

==== How does Bisq handle fiat like dollars and euros? Where does it go? ====

Bisq doesn't handle fiat at all -- it only handles BTC. Trades are settled outside of Bisq, meaning fiat payments are sent outside Bisq via traditional banking services.

Bisq merely matches peers and sets incentives (e.g. locking a BTC security deposit from both peers, as a sort of escrow) to encourage both trading peers to act in good faith. This is also why you need bitcoin to begin trading on Bisq.

==== How long does a trade take? ====

There is no automatic order matching on Bisq, and trades are settled manually by humans. As a result, trades are not completed as quickly as they would be on centralized exchanges, but can still be fairly quick.

Some payment methods are instant (e.g., Faster Payment) while others can take a few days (e.g., SEPA).

As far as Bisq is concerned, the deposit transaction needs to be confirmed once before the buyer can send payment. Bitcoin transactions take about 10 minutes to confirm, so with quick traders and quick payment method, a Bisq trade can be completed in a matter of minutes.

Altcoin trade periods are always 1 day (or 1 hour for Altcoins Instant trades).

See the list of [[payment methods]] for complete details.

==== How does Bisq protect my privacy? ====

Bisq is standalone, open-source software that you can inspect before running on your machine, and as a result, you don't have to trust that any server is logging your personal details (as you would in the case of a website).

As for the trading process, your payment information is stored locally on your machine, and only your trading partner (and your mediator or arbitrator, in case of a dispute) can ever see it. All data exchanged between users is encrypted and signed.

To transmit data from one user to another, Bisq uses a P2P network built on top of Tor, which provides a high degree of anonymity. The user doesn't need to do any additional work for all of this to work—it is all integrated in the application.

==== Do I need to keep Bisq online for my offers to remain online? ====

Yes. There are no central servers on the Bisq network—so all peers are responsible for keeping their offers online.

If you have published an offer, your Bisq application needs to stay online so it can react when another trader wants to take your offer (the multisig deposit transaction is created in the take-offer process). Be sure you have deactivated your computer's standby mode so your Bisq application can stay online (monitor standby is not a problem).

If your Bisq application does go offline, your offer will get removed from the distributed offerbook. It will be re-published the next time you start your Bisq application.

After an offer has been taken and the trade process has started, neither trader needs to be online continuously, but each trader will need to be online periodically to check if any action is needed on their side (e.g. sending fiat/altcoin, confirming payment receipt, etc).

==== Do I have to use the Bisq wallet? ====

No, but you may find it convenient to keep a small amount of trading capital there.

When entering a new trade on Bisq, you will get the option to transfer funds from your Bisq wallet ''or'' send funds from an external wallet.

Likewise, when concluding a trade on Bisq, you can withdraw your funds to the Bisq wallet or to an external wallet.

==== Do I have to use the Bisq token? ====

No, using BSQ is totally optional. However, using it gets you a ~50% discount on [[trading fees]] while helping to [[Introduction_to_the_DAO#Earn_and_distribute_revenue|compensate Bisq contributors]] at the same time.

==== Will my bank know I'm trading bitcoin? ====

Generally speaking, Bisq doesn't deal with banks at all. All fiat transfers take place directly between users.

But there have been reports of banks closing accounts upon suspecting bitcoin activity. As a result, Bisq requires that the "reason for payment" field always be left BLANK when making a payment (if the payment method offers such a field).

If a reason is required, it should be something trivial like a "-" or "payment". If you want to use something else, please agree on an alternative with your peer using trader chat.
See full [[trading rules]] for more information.

== Common Technical Niggles ==

==== Bisq on macOS won't open, or it's asking for permission to record my keystrokes! ====

If Bisq won't open, try right-clicking the app and clicking <code>Open</code>.

If you get the prompt asking to record your keystrokes, rest assured it's a [https://github.com/bisq-network/bisq/issues/3373 bug] (Bisq is absolutely not recording your keystrokes). This bug should be fixed with a [[https://github.com/bisq-network/projects/issues/44|Java LTS version update]] coming soon.

==== Bisq seems to bog down my computer. When I open it, CPU and memory usage spike. Can this be prevented? ====

Bisq has had memory usage and CPU usage issue on certain operating systems in the past, but these issues should be resolved now. You can manually set the max RAM usage by following [[Reducing_memory_usage|these instructions]].

Chances are Bisq is probably just trying to sync blockchain data. New releases of Bisq include data stores updated at release time to reduce this syncing time, but as a release gets older (i.e., beyond 3-4 weeks old), the data stores get older, and syncing takes longer. Just let it finish and your computer resources should go back down to normal again.

If the issue doesn't go away on its own, please reach out for help in the <code>#support</code> channel [https://keybase.io/team/bisq on Keybase] or open an issue [https://github.com/bisq-network/bisq on GitHub].

==== I'm on a high-resolution monitor on Linux and everything is way too small. Help? ====

See [[Running_on_HiDPI_screen|this article]] for a tip on fixing this issue.

== Dispute resolution ==

==== How does dispute resolution work? ====

Bisq provides a 3-layer mechanism for resolving disputes: trader chat, mediation, and arbitration.

Trader chat enables traders to resolve small issues themselves privately over end-to-end encrypted chat right in Bisq. If this doesn't work, traders can engage a mediator to examine the situation and suggest a payout. In rare circumstances that mediation fails, a trader can choose to engage an arbitrator to re-examine the situation and make a payout.

Veteran users: please note that the arbitrator role changed significantly with the launch of the new trade protocol on v1.2.

See [[trading rules]] and [[dispute resolution]] for more.

==== How is collusion between mediators, arbitrators, and traders prevented? ====

With the launch of the new trading protocol in v1.2, multisig escrows went from 2-of-3 to 2-of-2 arrangements, so that only the two trading peers have control of trading funds (instead of the 2 trading peers and an arbitrator). With no keys in the multisig escrow, it is no longer possible for a mediator or arbitrator to collude with another trader to release funds maliciously.

Mediators and arbitrators are still bonded roles, however, because even though they cannot sign a payout transaction to resolve a dispute, they can ''advise'' how to resolve a dispute, and it's important that they be responsive, responsible, and fair when doing so.

==== What happens if the person buying bitcoin does a chargeback after the bitcoin has been released from the multisig address? ====

Bisq only supports payment methods for which chargebacks are not easy (e.g., this is why PayPal and credit cards are not supported). But there is still a little chargeback risk with banks. If a bank executes a chargeback after the BTC has been released, there is nothing a mediator or arbitrator can do.

Bisq's goal is to make this scenario as unattractive as possible, using three primary mechanisms:

# [[Account limits|Account aging]] requires newly-created fiat payment accounts on Bisq to have lower trade limits, and those limits are increased over time.
# [[Account_limits#Account_signing|Account signing]] requires higher-risk payment methods to be signed upon verifying the integrity of a trader before account aging kicks in. Until such accounts are signed, buy limits are set to 0.01 BTC.
# National currency payment methods which are found to be used for chargebacks are quickly removed.

==== Wouldn't a pure reputation system among traders make mediators and arbitrators unnecessary? ====

Pure reputation without additional dispute resolution measures is a weak protection system, as you can never avoid [https://en.wikipedia.org/wiki/Sybil_attack sybil] or [https://en.wikipedia.org/wiki/Confidence_trick long con] attacks.

Such mechanisms are also problematic for protecting privacy and for keeping the service decentralized.

==== How can I contact my trading peer? ====

Bisq has a built-in end-to-end encrypted [[Dispute_resolution#Level_1:_Trader_chat|chat mechanism]] that you can use to talk to your trading peer while the trade is in progress.

== DAO ==

==== What is the Bisq DAO? ====

The Bisq DAO (decentralized autonomous organization) is a decentralized governance mechanism for the Bisq software, built on Bitcoin. It takes the place of a company. How good can decentralized software possibly be if it's still controlled by a single entity, like a company?

Decentralized software is no good without decentralized governance.

That's why Bisq is not a company or legal entity of any kind—instead, it's organized as a DAO. The DAO handles the software's funding and strategy-making to enable the Bisq network to thrive, and at the same time, harden it against attacks on the infrastructure that powers its leadership and operation.

In a nutshell, the Bisq DAO enables Bisq to become even more censorship-resistant, a core [[Introduction|principle of the project]] from the very beginning.

Read more about the Bisq DAO in [[Introduction_to_the_DAO|this introductory article]].

==== How does the Bisq DAO work? ====

The primary purposes of the Bisq DAO are financing the project and determining strategy.

# Trading fees are distributed directly from traders to contributors with a token (colored bitcoin) called BSQ.
# Strategy is determined collectively through voting done in the Bisq software and recorded on the Bitcoin network.

Learn more about how this actually works in [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e this series of short 3-5 minute videos].

See [[Decentralized_autonomous_organization|this article]] for a full list of resources to learn more.

==== What do I need to know about the DAO, as a trader? ====

First of all, you are NOT required to use the BSQ token or Bisq DAO to use Bisq.

But there are benefits to doing so: you'll pay lower trading fees by using BSQ instead of BTC.

But why have the BSQ token at all? Because it enables Bisq contributors to be paid for their work without any central wallets or points of control. When you buy BSQ, you're directly paying a Bisq contributor for their work, and in the process, helping to sustain the whole project. The dynamic this token enables is not possible with plain bitcoin.

When you use BSQ to pay trading fees, it's destroyed and 'burned' out of existence.

[[Introduction_to_the_DAO#Overview|See more on this dynamic here]].

==== Is Bisq using a token because it needs money? What's the issuance schedule for the token? ====

Bisq already earns revenue from trading fees. It's not launching this DAO and BSQ token for ''earning'' revenue—it's doing it to ''distribute'' the revenue it already earns to more people without any central points of control.

BSQ tokens are issued every time a contributor's compensation request is approved through voting, and the tokens are destroyed every time a trader uses BSQ to pay trading fees.

BSQ issuance is not a 1-time event, and its purpose is not to raise capital. You can see a walk-through of the BSQ issuance process in [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e this video series].

==== Can I use Bisq without BSQ and without this DAO? ====

You could. All you'd have to do is pay your trading fees with BTC instead of BSQ. But we hope you don't, because doing so would render the project unsustainable.

Before the Bisq DAO, trading fees went to just a couple of wallets owned by specific Bisq contributors (arbitrators). All other contributors were not paid. Bisq needs its contributors to be paid in regular, predictable ways to ensure continual (and reliable) development, service, and growth; the Bisq DAO enables this to happen by distributing trading fees to all contributors in a totally decentralized way.

The Bisq DAO and BSQ token enable a funding and governance mechanism that is [[https://bisq.network/blog/bisq-dao-for-bitcoin-maximalists/ not possible with plain bitcoin]]. We highly recommend you check [[Decentralized_autonomous_organization|out the documentation]] and [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e video series]] to learn more.

== Other ==

==== This project is cool! How can I help out? ====

Check out the [[contributor checklist]]. We'd love to hear from you!

==== I have a question that isn’t covered here...? ====

Feel free to reach out [https://keybase.io/team/bisq on Keybase] or [https://bisq.network/#community any other channel].

Introduction to the DAO

2021-04-29T00:04:38Z

Plebeian9000: /* Learn more */

The Bisq network is governed by a '''decentralized autonomous organization (DAO)''' built on the Bitcoin blockchain.

== Introduction ==

=== What is a DAO? ===

Conventional entities such as for-profit and non-profit corporations must be sanctioned by the state: they are legal entities registered in particular jurisdictions. No matter how big or small or virtuous or innovative they are, they cannot operate without state approval. In return for this approval, the entity is endowed with rights (e.g., limited liability) and responsibilities (e.g., taxes).

A '''decentralized autonomous organization (DAO)''' is just a generic term for a governance model sanctioned by software: code defines conventions for governing the project irrespective of the stance of the state.

{{Admonition_Note|We say a DAO’s governance model must be sanctioned by software, not necessarily controlled by software. The Bisq DAO, for example, is not controlled by software: software merely provides a framework for the people involved with the Bisq project to (collectively) manage the software itself. The Bisq DAO operates on the idea that '''code is not law'''. Code is written by humans to provide a service to other humans, so it should be accountable to humans too. }}

The universe of DAOs is diverse. Just as companies come in many shapes and sizes, and some companies are scammy, fraudulent, or just poorly managed—that’s no reason to assume all companies are the same way. It’s the same with DAOs: some DAOs haven’t worked out so well, but others might turn out differently.

== The Bisq DAO ==

The Bisq DAO forgoes a system where governance is dictated by the rigid rules of software in favor of a self-contained economy where governance is guided by software but ultimately determined by the collective, subjective judgments of its community.

It achieves this by introducing a unit of value called the '''BSQ token''' that enables Bisq stakeholders—contributors, traders, or anyone who owns BSQ—to make subjective value judgments. This token underlies all actions in the DAO.

[https://www.youtube.com/watch?v=pNvOZlIDYEQ&feature=emb_logo Click here for a quick introductory video on the what & why of the Bisq DAO]

=== BSQ token ===

{{BSQ_Token_Intro}}

=== Overview ===

Here’s a graphical overview of how the DAO works at a high level:

[[File:User-dao-diagram.png|700px|thumb|left]]

<div style="clear: both;"></div>

Let’s observe some of the dynamics of this system:</br></br>

* Contributors ''maintain'' Bisq through valuable work
* Traders ''use'' Bisq to buy and sell bitcoin and other cryptocurrencies
* Contributors ''earn'' BSQ tokens when their compensation requests are approved through voting
* Traders ''buy'' BSQ tokens in order to pay lower trading fees
* Stakeholders ''vote'' on compensation requests
* Contributors can ''lock'' a bond in BSQ to ensure integrity in high-trust roles</br></br>

Now let’s see how these dynamics enable the Bisq DAO to provide 3 core governance functions without any central points of authority.

=== Earn and distribute revenue ===

Every project needs to be financially sustainable to fund ongoing operations and development. But traditional means of handling revenue and revenue distribution are necessarily centralized—any receiving address or account must be owned by one person, or a small group; determining how much a person should be paid must be determined by one person, or a small group; etc.

'''Contributors produce, creating BSQ'''

In the Bisq DAO, trading fees are collected from traders and distributed to contributors, but there is no central authority to do this. Here’s how it works: after a Bisq contributor does work, they file a '''compensation request''' in the DAO with a description of what they did and how much BSQ they want in return. Then, stakeholders (who are other contributors, traders, and anyone else with BSQ) vote for/against the request. If the request is approved, the contributor is issued new BSQ in the amount they requested and '''BSQ supply is increased'''.

{{Admonition_Note|'''<big>Where does new BSQ actually come from?</big>'''</br> Recall that a BSQ token is merely colored bitcoin. When a contributor makes their compensation request in the DAO, they must also include the tiny amount of bitcoin to be '''colored''' as BSQ (the [[DAO_technical_overview|spec]] requires 100 satoshis). So if a contributor requests 1,000 BSQ, they will need to include (100 * 1,000 equals 100,000 satoshis) with their compensation request, just about 10 USD at a rate of (10,000 USD/BTC).</br></br>If their request is approved, those satoshis are '''colored''' and recognized as 1,000 valid BSQ tokens on Bisq. Assuming a BSQ market value of 1 USD (exact value will fluctuate), the contributor will have been granted 1,000 USD worth of BSQ for a negligible cost of 10 USD.}}

'''Traders consume, burning BSQ'''

Then, a trader looking for lower trading fees can buy those BSQ tokens from a contributor. When they buy BSQ tokens for BTC, the contributor is paid for their work, and the value transfer from producer to consumer is complete! When a trader pays trading fees with BSQ, those BSQ tokens are burned or "decolored" and '''BSQ supply is decreased'''. This process of creating and destroying BSQ tokens enables a sort of [https://docs.bisq.network/dao/phase-zero.html#how-bsq-decentralizes-compensation-and-enables-monetary-policy monetary policy] controlled by Bisq stakeholders and traders.

In this way, there is no need for a central entity to collect and distribute revenue: the BSQ token enables a transfer of value from producer to consumer without any single entity controlling any aspect of the decision-making or distribution process.
{{Admonition_Note|<big>'''Note on BTC revenues'''</big></br>
In the past, before the Bisq DAO launch and before the integration of Bisq’s new trade protocol, trading fees were only collected in BTC and only went to arbitrators. There was no mechanism to distribute them to other contributors. The DAO solves this distribution problem with BSQ through the process outlined above.</br></br>
But since traders can still pay trading fees with BTC, where do those BTC fees go?</br></br>
BTC fees go to a [https://github.com/bisq-network/roles/issues/80 bitcoin "donation" address] held by a bonded contributor, who uses the BTC to buy BSQ on a regular basis to distribute the BTC fees to stakeholders, and the BSQ obtained is [https://github.com/bisq-network/proposals/issues/55 burned].}}

=== Determine strategy ===

Another point of centralization in traditional organizations is with strategy. How can a project determine strategy without some form of designated leadership: an executive, manager, or leader to give direction and allocate resources?

The Bisq DAO beats this tradition with collective decision-making on strategy and other matters through '''weighted voting''' based on BSQ stake.

Here’s how it works: any stakeholder can make a proposal in the DAO. It can be anything: a change in a trading parameter, a new bonded role, or even something more generic like an adjustment of overall project strategy. Stakeholders vote on the proposal, and their voting weight is based on BSQ stake, through a combination of two metrics:</br></br>

# amount of BSQ committed to a particular vote
# amount of BSQ earned over time through contributions</br></br>

Taking both metrics into account discourages deep-pocketed whales from suddenly seizing control of the project, while still valuing dedicated stakeholders with consistent contributions over time. It brings about a '''strict meritocracy''' in which people need to somehow buy in to the Bisq project in order to take part in its governance, and the more significant their stake, the stronger their voice.

In this way, there is no need to rely on a single leadership team for direction: the community collectively manages itself.

=== Ensure honesty in high-trust roles ===

Despite the Bisq project’s attempts to resist concentrating control as much as possible, it’s impossible to avoid in some places. Domain name owners, social account admins, mediators, various node operators: these are all roles that must exist, but necessarily retain significant control and require a high degree of trust.

Part of the benefit of a centralized team of thoroughly-vetted people reliant on a paycheck, as is the case in most companies, is that the risk of trusting people with significant responsibility is lower: they have a lot to lose if the company finds they have violated their integrity and engaged in foul play.

This dynamic can be reproduced—at least partly—in a project without a central authority through '''bonding'''. The concept is simple enough: create skin in the game. Require that a person interested in taking on a high-trust role post a bond that’s high enough to discourage them from engaging in foul play.

But what happens if that person goes rogue? In a project without central authority, who decides when they’ve crossed the line, and what their fate should be?

As with strategy and compensation, the community decides through voting. Anyone who suspects foul play can make a case for confiscating a bond with a new proposal, and stakeholders vote to determine an outcome.

{{Admonition_Warn|Confiscating a bond is a harsh penalty which should not be taken lightly. Therefore, the Bisq DAO makes confiscation proposals especially hard to approve: they require a quorum of at least 200,000 BSQ and 85% acceptance to pass (instead of the typical >50%).}}

In this way, the risk that people in high-trust roles misbehave is minimized, and the community has access to a responsible mechanism for handling such a scenario in cases that warrant it.

== Learn more ==

For more information on how you can use the DAO to trade/contributor, how it works, its technical foundations, etc. please see the [[Decentralized_autonomous_organization|this page]].

Template:Run with Java options

2021-04-28T23:04:40Z

Plebeian9000: add note about application directory on other operating systems

== Command-line fix ==

{{{2}}}:

JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

<code>/opt/Bisq/Bisq</code> is the default application directory on Linux. If you run another operating system, you'll need to replace that path with [[Running_from_the_command_line|the one for your OS]].

You can adjust the scaling factor as you wish, of course, and add any [[Command_line_options|runtime options for Bisq]] as well.

== GUI fix ==

To have this setting apply automatically when running Bisq from a menu icon, you'll need to adjust the launcher files to run a script with the fix in it.

1. Create the script, say <code>/opt/Bisq/Bisq-runner.sh</code>.

#!/bin/bash
JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

2. Make it executable.

chmod +x /opt/Bisq/Bisq-runner.sh

3. Update the launcher (<code>/opt/Bisq/Bisq.desktop</code> and/or <code>/usr/share/applications/Bisq.desktop</code>).

...
Exec=/opt/Bisq/Bisq-runner.sh
...

Running on HiDPI screen

2021-04-28T23:02:18Z

Plebeian9000:

'''Running Bisq on a HiDPI screen''' (2k, 4k, etc) with default settings often leads to small text.

This article covers how to fix this issue on Linux.

__TOC__

{{Run_with_Java_options|<nowiki>-Dglass.gtk.uiScale=1.4</nowiki>|Adjust scaling with the following prefix}}

Reducing memory usage

2021-04-28T23:01:47Z

Plebeian9000:

Bisq is known to be a resource-hungry application, so some users may want to '''reduce memory usage'''.

__TOC__

{{Run_with_Java_options|<nowiki>-XX:MaxRAM=4g</nowiki>|Reduce Bisq's memory usage by setting a ceiling of 4GB}}

== Background ==

One of the settings Java virtual machines (JVMs) use to calibrate how much physical memory to reserve at startup is '''MaxRAM''', and there is a good chance your JVM's default MaxRAM configuration is too large.

To check the default MaxRAM setting, run this <code>java</code> command:

java -XX:+UnlockDiagnosticVMOptions -XX:+PrintFlagsFinal -version | grep MaxRAM

Look for the <code>MaxRAM</code> value (bytes) in the output. An example:

367: uint64_t MaxRAM = 137438953472

This means the OpenJDK 11 JVM's MaxRAM setting is 128GB, much more RAM than the average desktop machine has.

Experiments have shown running Bisq with a 4GB MaxRAM setting reduces memory consumption by more than 50% (when starting a clean Bisq installation with an empty data directory). Setting MaxRAM to 2GB reduces resident memory usage even more, but setting it any lower (1536m) will result in an OutOfMemoryError and crash the app.

As of version 1.3.2, Bisq starts with a MaxRAM setting of 4GB. If you're still having issues, try setting the parameter yourself as described above.

Template:Run with Java options

2021-04-28T23:01:32Z

Plebeian9000:

== Command-line fix ==

{{{2}}}:

JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

You can adjust the scaling factor as you wish, of course, and add any [[Command_line_options|runtime options for Bisq]] as well.

== GUI fix ==

To have this setting apply automatically when running Bisq from a menu icon, you'll need to adjust the launcher files to run a script with the fix in it.

1. Create the script, say <code>/opt/Bisq/Bisq-runner.sh</code>.

#!/bin/bash
JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

2. Make it executable.

chmod +x /opt/Bisq/Bisq-runner.sh

3. Update the launcher (<code>/opt/Bisq/Bisq.desktop</code> and/or <code>/usr/share/applications/Bisq.desktop</code>).

...
Exec=/opt/Bisq/Bisq-runner.sh
...

Reducing memory usage

2021-04-28T23:01:14Z

Plebeian9000:

Bisq is known to be a resource-hungry application, so some users may want to '''reduce memory usage'''.

__TOC__

{{Run_with_Java_options|<nowiki>-XX:MaxRAM=4g</nowiki>|Reduce Bisq's memory usage by setting a ceiling of 4GB.}}

== Background ==

One of the settings Java virtual machines (JVMs) use to calibrate how much physical memory to reserve at startup is '''MaxRAM''', and there is a good chance your JVM's default MaxRAM configuration is too large.

To check the default MaxRAM setting, run this <code>java</code> command:

java -XX:+UnlockDiagnosticVMOptions -XX:+PrintFlagsFinal -version | grep MaxRAM

Look for the <code>MaxRAM</code> value (bytes) in the output. An example:

367: uint64_t MaxRAM = 137438953472

This means the OpenJDK 11 JVM's MaxRAM setting is 128GB, much more RAM than the average desktop machine has.

Experiments have shown running Bisq with a 4GB MaxRAM setting reduces memory consumption by more than 50% (when starting a clean Bisq installation with an empty data directory). Setting MaxRAM to 2GB reduces resident memory usage even more, but setting it any lower (1536m) will result in an OutOfMemoryError and crash the app.

As of version 1.3.2, Bisq starts with a MaxRAM setting of 4GB. If you're still having issues, try setting the parameter yourself as described above.

Running on HiDPI screen

2021-04-28T22:55:38Z

Plebeian9000:

Template:Run with Java options

2021-04-28T22:54:34Z

Plebeian9000: /* GUI fix */

== Command-line fix ==

{{{2}}}

JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

You can adjust the scaling factor as you wish, of course, and add any [[Command_line_options|runtime options for Bisq]] as well.

== GUI fix ==

To have this setting apply automatically when running Bisq from a menu icon, you'll need to adjust the launcher files to run a script with the fix in it.

1. Create the script, say <code>/opt/Bisq/Bisq-runner.sh</code>.

#!/bin/bash
JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

2. Make it executable.

chmod +x /opt/Bisq/Bisq-runner.sh

3. Update the launcher (<code>/opt/Bisq/Bisq.desktop</code> and/or <code>/usr/share/applications/Bisq.desktop</code>).

...
Exec=/opt/Bisq/Bisq-runner.sh
...

Template:Run with Java options

2021-04-28T22:54:12Z

Plebeian9000: /* Command-line fix */

== Command-line fix ==

{{{2}}}

JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

You can adjust the scaling factor as you wish, of course, and add any [[Command_line_options|runtime options for Bisq]] as well.

== GUI fix ==

To have this scaling apply automatically when running Bisq from a menu icon, you'll need to adjust the launcher files to run a script with the fix in it.

1. Create the script, say <code>/opt/Bisq/Bisq-runner.sh</code>.

#!/bin/bash
JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

2. Make it executable.

chmod +x /opt/Bisq/Bisq-runner.sh

3. Update the launcher (<code>/opt/Bisq/Bisq.desktop</code> and/or <code>/usr/share/applications/Bisq.desktop</code>).

...
Exec=/opt/Bisq/Bisq-runner.sh
...

Running on HiDPI screen

2021-04-28T22:53:21Z

Plebeian9000: make java option example into transclusion

Template:Run with Java options

2021-04-28T22:47:51Z

Plebeian9000: Created page with "== Command-line fix == Adjust scaling with the following prefix. JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq You can adjust the scaling factor as you wish, of course, and a..."

== Command-line fix ==

Adjust scaling with the following prefix.

JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

You can adjust the scaling factor as you wish, of course, and add any [[Command_line_options|runtime options for Bisq]] as well.

== GUI fix ==

To have this scaling apply automatically when running Bisq from a menu icon, you'll need to adjust the launcher files to run a script with the fix in it.

1. Create the script, say <code>/opt/Bisq/Bisq-runner.sh</code>.

#!/bin/bash
JAVA_TOOL_OPTIONS="{{{1}}}" /opt/Bisq/Bisq

2. Make it executable.

chmod +x /opt/Bisq/Bisq-runner.sh

3. Update the launcher (<code>/opt/Bisq/Bisq.desktop</code> and/or <code>/usr/share/applications/Bisq.desktop</code>).

...
Exec=/opt/Bisq/Bisq-runner.sh
...

User support

2021-04-28T22:44:19Z

Plebeian9000: /* Via the Bisq Forum */

'''User support''' is available in a number of channels.

This article lists ways to get support as a Bisq user. For information on how to help Bisq by ''providing'' support, see [[support team]].

__TOC__

== Via the FAQ ==

Many common questions can be answered by browsing the [[frequently asked questions]].

== Via the wiki ==

Common problems and solutions are documented in [[troubleshooting]]. Also try using the search function.

== Via Keybase chat ==

The <code>#support</code> channel in the [https://keybase.io/team/bisq Bisq Keybase team] is Bisq's primary user support channel. When in doubt, ask your question here!

== Via GitHub issues ==

If you think your might be experiencing a bug, please report it at https://github.com/bisq-network/bisq.

== Via the Bisq forum ==

See https://bisq.community.

== Via mediation ==

See [[mediation]].

[[Category:Processes]]

User support

2021-04-28T22:44:03Z

Plebeian9000: /* Via mediation */

'''User support''' is available in a number of channels.

This article lists ways to get support as a Bisq user. For information on how to help Bisq by ''providing'' support, see [[support team]].

__TOC__

== Via the FAQ ==

Many common questions can be answered by browsing the [[frequently asked questions]].

== Via the wiki ==

Common problems and solutions are documented in [[troubleshooting]]. Also try using the search function.

== Via Keybase chat ==

The <code>#support</code> channel in the [https://keybase.io/team/bisq Bisq Keybase team] is Bisq's primary user support channel. When in doubt, ask your question here!

== Via GitHub issues ==

If you think your might be experiencing a bug, please report it at https://github.com/bisq-network/bisq.

== Via the Bisq Forum ==

See https://bisq.community.

== Via mediation ==

See [[mediation]].

[[Category:Processes]]

User support

2021-04-28T22:43:49Z

Plebeian9000: /* Via Mediation */

'''User support''' is available in a number of channels.

This article lists ways to get support as a Bisq user. For information on how to help Bisq by ''providing'' support, see [[support team]].

__TOC__

== Via the FAQ ==

Many common questions can be answered by browsing the [[frequently asked questions]].

== Via the wiki ==

Common problems and solutions are documented in [[troubleshooting]]. Also try using the search function.

== Via Keybase chat ==

The <code>#support</code> channel in the [https://keybase.io/team/bisq Bisq Keybase team] is Bisq's primary user support channel. When in doubt, ask your question here!

== Via GitHub issues ==

If you think your might be experiencing a bug, please report it at https://github.com/bisq-network/bisq.

== Via the Bisq Forum ==

See https://bisq.community.

== Via mediation ==

See [[Mediation]].

[[Category:Processes]]

User support

2021-04-28T22:43:30Z

Plebeian9000:

'''User support''' is available in a number of channels.

This article lists ways to get support as a Bisq user. For information on how to help Bisq by ''providing'' support, see [[support team]].

__TOC__

== Via the FAQ ==

Many common questions can be answered by browsing the [[frequently asked questions]].

== Via the wiki ==

Common problems and solutions are documented in [[troubleshooting]]. Also try using the search function.

== Via Keybase chat ==

The <code>#support</code> channel in the [https://keybase.io/team/bisq Bisq Keybase team] is Bisq's primary user support channel. When in doubt, ask your question here!

== Via GitHub issues ==

If you think your might be experiencing a bug, please report it at https://github.com/bisq-network/bisq.

== Via the Bisq Forum ==

See https://bisq.community.

== Via Mediation ==

See [[Mediation]].

[[Category:Processes]]

Running on HiDPI screen

2021-04-28T19:49:17Z

Plebeian9000: remove maxram parameter for clarity

'''Running Bisq on a HiDPI screen''' (2k, 4k, etc) with default settings often leads to small text.

This article covers how to fix this issue on Linux.

__TOC__

== Command-line fix ==

Adjust scaling with the following prefix.

JAVA_TOOL_OPTIONS="-Dglass.gtk.uiScale=1.4" /opt/Bisq/Bisq

You can adjust the scaling factor as you wish, of course, and add any [[Command_line_options|runtime options for Bisq]] as well.

== GUI fix ==

To have this scaling apply automatically when running Bisq from a menu icon, you'll need to adjust the launcher files to run a script with the fix in it.

1. Create the script, say <code>/opt/Bisq/Bisq-runner.sh</code>.

#!/bin/bash
JAVA_TOOL_OPTIONS="-Dglass.gtk.uiScale=1.4" /opt/Bisq/Bisq

2. Make it executable.

chmod +x /opt/Bisq/Bisq-runner.sh

3. Update the launcher (<code>/opt/Bisq/Bisq.desktop</code> and/or <code>/usr/share/applications/Bisq.desktop</code>).

...
Exec=/opt/Bisq/Bisq-runner.sh
...

Reducing memory usage

2021-04-28T19:45:16Z

Plebeian9000: Plebeian9000 moved page Reduce JVM MAXRam to Reducing memory usage: make article title for intuitve and discoverable

One of the settings Java virtual machines (JVMs) use to calibrate how much physical memory to reserve at startup is '''MaxRAM''', and there is a good chance your JVM's default MaxRAM configuration is too large.

To check the default MaxRAM setting, run this <code>java</code> command:

java -XX:+UnlockDiagnosticVMOptions -XX:+PrintFlagsFinal -version | grep MaxRAM

Look for the <code>MaxRAM</code> value (bytes) in the output. An example:

367: uint64_t MaxRAM = 137438953472

This means the OpenJDK 11 JVM's MaxRAM setting is 128 GB, on a machine with only 16 GB RAM.

Experiments have shown running Bisq with a 4 GB MaxRAM setting reduces resident memory consumption by more than 50% (when starting a clean Bisq installation with an empty data directory). Setting MaxRAM to 2 GB reduces resident memory usage even more, but setting it any lower (1536m) will result in an OutOfMemoryError and crash the app.

As of version 1.3.2, Bisq is started with a MaxRAM setting of 4 GB. If you are using Bisq v1.3.1 or older, consider upgrading to the [https://bisq.network/downloads latest version] to benefit from this change.

Reduce JVM MAXRam

2021-04-28T19:45:16Z

Plebeian9000: Plebeian9000 moved page Reduce JVM MAXRam to Reducing memory usage: make article title for intuitve and discoverable

#REDIRECT [[Reducing memory usage]]

Payment methods

2021-04-28T19:20:06Z

Plebeian9000:

<languages/>
<translate>
Bisq offers several '''payment methods''' to buy and sell bitcoin for fiat currencies or other cryptocurrencies.


Every offer on Bisq designates a payment method for traders to settle payments. The Bisq software does not actually integrate with any payment methods—'''all non-bitcoin fund transfers are made outside of Bisq software'''.


Unlike cryptocurrency transfers, many fiat payment transfers are riddled with flaws and limitations that require Bisq to employ special measures to encourage fair and honest trades. One of these measures is lower per-trade limits, which are covered below. Another key measure is [[Account_limits#Account_signing|account signing]].


__TOC__

== Fiat payment methods == 


The payment methods vary in chargeback risk, regional availability, transaction size, fees, privacy, verifiability, and other characteristics.
The top consideration for maintaining payment methods is chargeback risk. PayPal, Venmo, and Cash App are not supported on Bisq because chargebacks for payments made with those services are relatively easy.


We welcome suggestions for new payment methods on Bisq, especially for those that enable new markets. Documentation on the criteria and process for adding new payment methods is [https://github.com/bisq-network/bisq-docs/issues/172 forthcoming]. For now, feel free to make suggestions by reaching out on [https://keybase.io/team/bisq Keybase].


Below is a list of fiat payment methods Bisq currently supports.


''Note: The maximum trade sizes listed below are not available for most newly-created payment accounts. Please refer to [https://bisq.wiki/Account_signing Account signing] for details on how to enable larger trade sizes for your payment accounts. ''


{| class="wikitable sortable"
|-
! Payment Method !! Region !! Trading Period !! Per-Trade Limit !! Notes
|-
| Advanced Cash* || Global || 1 day || 2.00 BTC || Not available in the USA.
|-
| Alipay* || China || 1 day || 1.00 BTC ||
|-
| [[Amazon_eGift_card|Amazon eGift Card*]] || Multiple || 1 day || 0.25 BTC || Supported in USD, EUR, CAD, and a [[Amazon_eGift_card|handful of other markets]].
|-
| Australian PayID* || Australia || 1 day || 1.00 BTC ||
|-
| [[Cash by Mail]]* || N/A || 6 days || 0.25 BTC || Some banks don't accept cash deposits from non-customers.
|-
| Cash Deposit* || N/A || 4 days || 0.25 BTC || Ensure to follow Cash by Mail trade rules.
|-
| Chase QuickPay || USA || 1 day || 0.25 BTC || Now integrated with Zelle.
|-
| [[Face-to-face_(payment_method)|Face-to-Face (F2F)]]* || Global || 4 days || 1.00 BTC || [[Face-to-face_(payment_method)|See article]] for special guidance on F2F transactions.
|-
| [[Faster Payments]]* || UK || 1 day || 0.25 BTC || [[Faster_Payments|See article]] for recent changes to avoid issues.
|-
| HalCash* || Spain || 1 day || 1.00 BTC ||
|-
| Interac e-Transfer || Canada || 1 day || 0.25 BTC ||
|-
| Japan Zengin Furikomi* || Japan || 1 day || 1.00 BTC ||
|-
| MoneyBeam (N26) || Europe || 1 day || 0.25 BTC ||
|-
| MoneyGram* || Global || 4 days || 0.50 BTC ||
|-
| National Bank Transfer || N/A || 4 days || 0.25 BTC ||
|-
| Perfect Money* || Europe and USA || 1 day || 1.00 BTC ||
|-
| Popmoney || USA || 1 day || 0.25 BTC ||
|-
| PromptPay* || Thailand || 1 day || 1.00 BTC ||
|-
| [[Revolut]] || Global || 1 day || 0.25 BTC || [[Revolut|See article]] for recent changes to avoid issues.
|-
| SEPA || Europe || 6 days || 0.25 BTC ||
|-
| SEPA Instant || Europe || 1 day || 0.25 BTC ||
|-
| Swish* || Sweden || 1 day || 1.00 BTC ||
|-
| Transfer with Same Bank || N/A || 2 days || 0.25 BTC ||
|-
| Transfer from Specific Banks || N/A || 4 days || 0.25 BTC ||
|-
| [[TransferWise]]* || Global || 4 days || 1.00 BTC ||
|-
| [[US Postal Money Order]]* || USA || 8 days || 0.25 BTC || Within USA, $1000 limit per transaction, up to $3000 per day without ID.
|-
| Uphold || Global || 1 day || 0.25 BTC ||
|-
| WeChat Pay* || China || 1 day || 1.00 BTC ||
|-
| Western Union || Global || 4 days || 0.50 BTC ||
|-
| Zelle || USA || 4 days || 0.25 BTC || See [https://www.zellepay.com/get-started this page] to see if/how your bank works with Zelle (including sending limits).
|}


<nowiki>*</nowiki> These payment methods '''do not''' need to be signed to lift the 0.01 BTC buying limit (see [[Account_limits#Account_signing|account signing]] for more details).

=== Payment method guides === 


<div style="margin-top: 1.5em;">
<li style="display: inline-block;"> [[File:Payment-methods-advice-eur.png|thumb|none|300px|EUR payment methods overview.]] </li>
<li style="display: inline-block;"> [[File:Payment-methods-advice-usd.png|thumb|none|300px|USD payment methods overview.]] </li>
</div>


<div style="clear: both;"></div>

== Altcoin payment methods == 


Bisq also supports a [https://bisq.network/markets/ variety] of cryptocurrencies for buying and selling bitcoin, like [[XMR]], [[ETH]], [[ZEC]], [[L-BTC]] or [[LTC]].


Because altcoin transfers are irreversible and relatively quick, altcoin trades can be up to 2 BTC in size right away (no need to wait for account aging or account signing).


{| class="wikitable"
|-
! Payment Method !! Trading Period !! Per-Trade Limit
|-
| [[Altcoins]] || 1 day || 2.00 BTC
|-
| [[Altcoins Instant]] || 1 hour || 2.00 BTC
|}


Altcoins Instant trades go by fast! Please remember to disable Instant offers in <code>Portfolio</code> > <code>My Open Offers</code> if you might not be around to settle an Instant trade.


See more details about creating altcoin accounts [[Creating_a_payment_account#Creating_an_altcoin_account | here]].


[[Category:Features]]
</translate>

Roles

2021-04-28T14:51:37Z

Plebeian9000:

'''Roles''' are the way contributors take responsibility for Bisq network resources and processes.

__TOC__

== Background ==

There are many resources and processes vital to the operation of the Bisq Network that require ownership by individual contributors. For example, someone must merge pull requests into the <code>bisq</code> repository, someone must manage DNS for the <code>bisq.network</code> domain, a group of people must maintain critical infrastructure such as seed nodes and price nodes, etc.

This document defines the system of roles used within the Bisq DAO to enumerate, define and track each of these responsibilities. The system is designed with two major goals in mind:
# To maximize role owner autonomy in order to achieve Bisq's [[Decentralized_autonomous_organization|decentralization goals]]
# To maximize transparency so that DAO stakeholders can effectively review and vote on role owner compensation requests

== Properties ==

The following are properties common to all roles.

=== Duties ===

''Duties'' are actions that must be performed for a certain resource or process to function normally.

For example, a repository maintainer’s duties include merging pull requests in a timely fashion, and a website operator’s duties include keeping the site available at all times.

=== Rights ===

''Rights'' are special permissions or other access required to perform the Duties of a role.

For example, a repository maintainer’s rights include write permissions to their repository, and a website operator’s rights include administrative access to site hosting infrastructure.

=== Owners ===

''Owners'' are contributors who have the Rights required to perform the Duties of a role.

One owner is designated as primary and any other owners are designated as [https://github.com/bisq-network/proposals/issues/12 secondary]. The primary is responsible for performing the Duties of the role, while secondaries stand by, ready to take over for the primary at any time.

== Infrastructure ==

The following infrastructure is used to define and manage each role.

=== Wiki ===

Each role should be documented here on https://bisq.wiki in a document of its own, ideally linked to the larger resource or process it's related to.

For example, there is a [[Proposals|proposals wiki article]] covering the concept and process of proposals for users, and a [[Proposals_Maintainer|proposals maintainer article]] covering the role's rights, duties, and other details.

Each role’s documentation should specify the role's:
* duties
* rights
* GitHub team
* GitHub issue
* bonding requirement (if any)

=== Team ===

Each role has a dedicated GitHub team where each of the role’s Owners are members. The team is used to manage access to GitHub repositories that the role is responsible for and to send notifications to role owners with @mentions in GitHub issues and pull requests.

For example, the [https://github.com/orgs/bisq-network/teams/bisq-maintainers @bisq-network/bisq-maintainers] team has write access to the [https://github.com/bisq-network/bisq bisq-network/bisq] repository.

{{Admonition_Note|GitHub teams are visible only to GitHub organization members. To join the [https://github.com/bisq-network @bisq-network org], see the [[Contributor_checklist#Get_connected|contributor checklist]].}}

The primary role owner is also assigned as the ''maintainer'' of their role’s GitHub team, such that they may manage the team without requiring the intervention of a GitHub admin.

=== Issue ===

Each role has a dedicated GitHub issue in the [https://github.com/bisq-network/roles/issues bisq-network/roles] repository, wherein:
* The '''Assignees''' field is used to track role ownership.
* The '''Description''' field is used to link to the role’s wiki article, team, and primary owner.
* '''Comments''' are used for reporting and feedback.

See the [Compensation Maintainer https://github.com/bisq-network/roles/issues/86] role issue for an example.

== Types ==

Most roles fit into one of the types below.

=== Maintainer ===

A ''Maintainer'' is a contributor responsible for enforcing process in a given GitHub repository.

Examples: [https://github.com/bisq-network/roles/issues/63 Bisq Maintainer], [https://github.com/bisq-network/roles/issues/30 Proposals Maintainer]

==== Maintainer duties ====

* Merging or closing pull requests after sufficient review
* Tagging releases
* Triaging incoming issues and keeping them organized over time

'''A maintainer is not a developer or reviewer.'''

Submitting and reviewing pull requests is something any contributor can do; neither are maintainer duties per se.

This is particularly important from a [[compensation]] perspective. If you are a maintainer, do NOT group your development and review activities together with your maintainer role in your compensation requests. Rather, account for them separately like any other contributor would.

The goal is to have as many competent contributors developing and reviewing as possible, not to load everything on the maintainer. [https://rfc.unprotocols.org/spec:1/C4/#21-preliminaries C4] is the inspiration here—it’s worth (re-)reading.

==== Maintainer rights ====

* Write access to the repository they are responsible for

=== Operator ===

An ''Operator'' is a contributor responsible for keeping a given resource running and functioning normally.

Examples: [https://github.com/bisq-network/roles/issues/15 Seednode Operator], [https://github.com/bisq-network/roles/issues/19 Forum Operator]

==== Operator duties ====

* Keep the given resource online and functioning normally
* Keep the resource up to date with latest version
* Maintain backups as appropriate
* Report on any incidents

==== Operator rights ====

* Administrative access to hosting infrastructure
* Ownership of any domain name used

=== Administrator ===

An ''Administrator'' (often referred to as 'Admin') is a contributor responsible for managing a given resource.

Examples: [https://github.com/bisq-network/roles/issues/16 GitHub Admin], [https://github.com/bisq-network/roles/issues/79 Keybase Admin]

==== Admin duties ====

* Respond to change requests

==== Admin rights ====

* Access to the administrative interface of the resource in question

== Common duties ==

The following duties are common to all roles.

=== Reporting ===

Primary role owners should report once a cycle in the form of a comment [https://github.com/bisq-network/proposals/issues/13 on their issue]. The report should contain whatever information the role owner believes would be valuable to other users, contributors, and stakeholders.

The comment should be formatted in Markdown as follows:

## Cycle 21 Report

Description and/or list of contributions, accomplishments, or other notable occurrences since the last role report was posted.

/cc bisq-network/compensation#421

The <code>/cc</code> part should reference the GitHub issue for the contributor's compensation request for the cycle corresponding to the role report.

== Bonding ==

Most roles involve special rights that, if abused, could cause damage to the Bisq Network. For this reason, [[Introduction_to_the_DAO#Ensure_honesty_in_high-trust_roles|role owners must put up a bond in BSQ]] [https://github.com/bisq-network/bisq/blob/master/core/src/main/java/bisq/core/dao/state/model/governance/BondedRoleType.java commensurate with the amount of damage that could be caused]. In the event of a role owner turning into a bad actor or being grossly negligent, this bond can be confiscated through a Bisq DAO proposal for confiscating a bond.

== Processes ==

The following are some common roles-related processes.

=== Proposing a new role ===

Typically, proposing a new role is one part of a larger proposal to introduce some new resource or process.

# Discuss the idea informally with other contributors, e.g. via [https://keybase.io/team/bisq Keybase]
# Follow the [[proposals]] process to formally suggest the new resource or process
# Draft documentation for the new resource or process, including an article about the new role as a wiki article

=== Adding a secondary role owner ===

A primary role owner may add a secondary owner with the following steps:

# Add them as a member of the role’s GitHub Team.
# Add them as an assignee to role’s GitHub Issue.
# Announce the change via a comment on the role’s GitHub Issue.

=== Transferring role ownership ===

A role owner may transfer ownership to another with the following steps:

# Get the new contributor added to the role’s GitHub team.
# Get the old contributor removed from the role's GitHub team.
# Have the role’s GitHub issue updated to reflect the new primary owner.
# Announce the change in a comment on the role’s GitHub Issue.

Roles

2021-04-28T02:23:57Z

Plebeian9000: transcribe and update page from docs

'''Roles''' are the way contributors take responsibility for Bisq network resources and processes.

__TOC__

== Background ==

There are many resources and processes vital to the operation of the Bisq Network that require ownership by individual contributors. For example, someone must merge pull requests into the <code>bisq</code> repository, someone must manage DNS for the <code>bisq.network</code> domain, a group of people must maintain critical infrastructure such as seed nodes and price nodes, etc.

This document defines the system of roles used within the Bisq DAO to enumerate, define and track each of these responsibilities. The system is designed with two major goals in mind:
# To maximize role owner autonomy in order to achieve Bisq's [[Decentralized_autonomous_organization|decentralization goals]]
# To maximize transparency so that DAO stakeholders can effectively review and vote on role owner compensation requests

== Properties ==

The following are properties common to all roles.

=== Duties ===

''Duties'' are actions that must be performed for a certain resource or process to function normally.

For example, a repository maintainer’s duties include merging pull requests in a timely fashion, and a website operator’s duties include keeping the site available at all times.

=== Rights ===

''Rights'' are special permissions or other access required to perform the Duties of a role.

For example, a repository maintainer’s rights include write permissions to their repository, and a website operator’s rights include administrative access to site hosting infrastructure.

=== Owners ===

''Owners'' are contributors who have the Rights required to perform the Duties of a role.

One owner is designated as primary and any other owners are designated as [https://github.com/bisq-network/proposals/issues/12 secondary]. The primary is responsible for performing the Duties of the role, while secondaries stand by, ready to take over for the primary at any time.

== Infrastructure ==

The following infrastructure is used to define and manage each role.

=== Wiki ===

Each role should be documented here on https://bisq.wiki in a document of its own, ideally linked to the larger resource or process it's related to.

For example, there is a [[Proposals|proposals wiki article]] covering the concept and process of proposals for users, and a [[Proposals_Maintainer|proposals maintainer article]] covering the role's rights, duties, and other details.

Each role’s documentation should specify the role's:
* duties
* rights
* GitHub team
* GitHub issue
* bonding requirement (if any)

=== Team ===

Each role has a dedicated GitHub team where each of the role’s Owners are members. The team is used to manage access to GitHub repositories that the role is responsible for and to send notifications to role owners with @mentions in GitHub issues and pull requests.

For example, the [https://github.com/orgs/bisq-network/teams/bisq-maintainers @bisq-network/bisq-maintainers] team has write access to the [https://github.com/bisq-network/bisq bisq-network/bisq] repository.

{{Admonition_Note|GitHub teams are visible only to GitHub organization members. To join the [https://github.com/bisq-network @bisq-network org], see the [[Contributor_checklist#Get_connected|contributor checklist]].}}

The primary role owner is also assigned as the ''maintainer'' of their role’s GitHub team, such that they may manage the team without requiring the intervention of a GitHub admin.

=== Issue ===

Each role has a dedicated GitHub issue in the [https://github.com/bisq-network/roles/issues bisq-network/roles] repository, wherein:
* The '''Assignees''' field is used to track role ownership.
* The '''Description''' field is used to link to the role’s wiki article, team, and primary owner.
* '''Comments''' are used for reporting and feedback.

See the [Compensation Maintainer https://github.com/bisq-network/roles/issues/86] role issue for an example.

== Types ==

Most roles fit into one of the types below.

=== Maintainer ===

A ''Maintainer'' is a contributor responsible for enforcing process in a given GitHub repository.

Examples: [https://github.com/bisq-network/roles/issues/63 Bisq Maintainer], [https://github.com/bisq-network/roles/issues/30 Proposals Maintainer]

==== Maintainer duties ====

* Merging or closing pull requests after sufficient review
* Tagging releases
* Triaging incoming issues and keeping them organized over time

'''A maintainer is not a developer or reviewer.'''

Submitting and reviewing pull requests is something any contributor can do; neither are maintainer duties per se.

This is particularly important from a [[compensation]] perspective. If you are a maintainer, do NOT group your development and review activities together with your maintainer role in your compensation requests. Rather, account for them separately like any other contributor would.

The goal is to have as many competent contributors developing and reviewing as possible, not to load everything on the maintainer. [https://rfc.unprotocols.org/spec:1/C4/#21-preliminaries C4] is the inspiration here—it’s worth (re-)reading.

==== Maintainer rights ====

* Write access to the repository they are responsible for

=== Operator ===

An ''Operator'' is a contributor responsible for keeping a given resource running and functioning normally.

Examples: [https://github.com/bisq-network/roles/issues/15 Seednode Operator], [https://github.com/bisq-network/roles/issues/19 Forum Operator]

==== Operator duties ====

* Keep the given resource online and functioning normally
* Keep the resource up to date with latest version
* Maintain backups as appropriate
* Report on any incidents

==== Operator rights ====

* Administrative access to hosting infrastructure
* Ownership of any domain name used

=== Administrator ===

An ''Administrator'' (often referred to as 'Admin') is a contributor responsible for managing a given resource.

Examples: [https://github.com/bisq-network/roles/issues/16 GitHub Admin], [https://github.com/bisq-network/roles/issues/79 Keybase Admin].

==== Admin duties ====

* Respond to change requests

==== Admin rights ====

* Access to the administrative interface of the resource in question

== Common duties ==

The following duties are common to all roles.

=== Reporting ===

Primary role owners should report once a cycle in the form of a comment [https://github.com/bisq-network/proposals/issues/13 on their issue]. The report should contain whatever information the role owner believes would be valuable to other users, contributors, and stakeholders.

The comment should be formatted in Markdown as follows:

## Cycle 21 Report

Description and/or list of contributions, accomplishments, or other notable occurrences since the last role report was posted.

/cc bisq-network/compensation#421

The <code>/cc</code> part should reference the GitHub issue for the contributor's compensation request for the cycle corresponding to the role report.

== Bonding ==

Most roles involve special rights that, if abused, could cause damage to the Bisq Network. For this reason, [[Introduction_to_the_DAO#Ensure_honesty_in_high-trust_roles|role owners must put up a bond in BSQ]] [https://github.com/bisq-network/bisq/blob/master/core/src/main/java/bisq/core/dao/state/model/governance/BondedRoleType.java commensurate with the amount of damage that could be caused]. In the event of a role owner turning into a bad actor or being grossly negligent, this bond can be confiscated through a Bisq DAO proposal for confiscating a bond.

== Processes ==

The following are some common roles-related processes.

=== Proposing a new role ===

Typically, proposing a new role is one part of a larger proposal to introduce some new resource or process.

# Discuss the idea informally with other contributors, e.g. via [https://keybase.io/team/bisq Keybase]
# Follow the [[proposals]] process to formally suggest the new resource or process
# Draft documentation for the new resource or process, including an article about the new role as a wiki article

=== Adding a secondary role owner ===

A primary role owner may add a secondary owner with the following steps:

# Add them as a member of the role’s GitHub Team.
# Add them as an assignee to role’s GitHub Issue.
# Announce the change via a comment on the role’s GitHub Issue.

=== Transferring role ownership ===

A role owner may transfer ownership to another with the following steps:

# Get the new contributor added to the role’s GitHub team.
# Get the old contributor removed from the role's GitHub team.
# Have the role’s GitHub issue updated to reflect the new primary owner.
# Announce the change in a comment on the role’s GitHub Issue.

Wiki Operator

2021-04-28T01:50:19Z

Plebeian9000:

The '''Wiki Operator''' is in charge of the technical operation of this wiki: hosting, maintenance, administration, domain name, etc. See full duties below.

__TOC__

== Issue ==
https://github.com/bisq-network/roles/issues/92

== Team ==
[https://github.com/orgs/bisq-network/teams/wiki-operators/members @bisq-network/wiki-operators]

== Duties ==
* Owning and renewing the bisq.wiki domain name
* Administering bisq.wiki DNS records
* Operating and administering the Mediawiki instance at bisq.wiki, including:
** Adding and maintaining plugins
** Daily Backups
*** Full MySQL database dump
*** Full filesystem archive of webroot
*** Off-site mirror of backup
* Triaging incoming issues to the bisq-network/wiki repository

== Rights ==
* Admin access to the bisq-network/wiki repository

== Bonding ==
Required but specifics are TBD.

[[Category:Roles]]
[[Category:Operator]]

Decentralized autonomous organization

2021-04-28T00:00:37Z

Plebeian9000: add pdfs of legacy dao documents

The Bisq network is organized as a decentralized autonomous organization (DAO). The Bisq DAO's purpose is to make the Bisq's governance model as decentralized and censorship-resistant as the Bisq network itself.

The Bisq founders realized that decentralized software—no matter how technically robust—is no good if it’s still controlled by a single entity. All the software’s technical strength would be worthless if the whole project could be ruined by attacking the single entity that runs it.

Thus the need for decentralizing the resources in charge of running Bisq itself. These resources cannot be organized in the form of a company, a nonprofit, or any other traditional organization because a single entity would be a single point of failure. But what to do? How can a project do anything useful without becoming an organization with some kind of structure? How can strategy be determined? How can resources be allocated? How can work get done? How can revenue be earned, and how can it be distributed?

The Bisq project needed infrastructure to provide these functions, and the Bisq DAO is its solution.

{{Admonition_Note|You do not have to participate in any aspect of the DAO or BSQ to use Bisq, but you may find it interesting. It's built entirely on Bitcoin and been operating since early 2019 without major issue.

This page aggregates resources to help you learn more about the Bisq DAO, what it is, and how it works!}}

== General Information ==

* [[Introduction to the DAO]] - a plain-language introduction to the Bisq DAO.
* [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e Bisq DAO in Brief (videos)] - quick, short video series on the Bisq DAO (7 videos, 3-4 minutes each)
* [https://www.youtube.com/playlist?list=PLFH5SztL5cYOLdYJj3nQ6-DekbjMTVhCS Bisq DAO Basics (videos)] - longer videos covering everything from the basics of bitcoin transactions and colored coins to the economic and technical roots of the BSQ token
* [[DAO_user_reference|DAO user reference]] - high-level details on BSQ, technical workings, and voting cycles

== Guides ==

* [[Paying trading fees with BSQ]] - get lower trading fees and compensation Bisq contributors
* [[Participating in a DAO voting cycle]] - see how to make a proposal, vote, and take part in Bisq governance
* [[Making a compensation request]] - get compensated for your contributions to the Bisq network
* [[Contributor checklist]] - resources and advice on how to get started contributing to Bisq

== Reference Material ==

* [[DAO_technical_overview|DAO technical overview]] - see (1) what BSQ tokens actually are, how they’re created, and how they’re destroyed and (2) the various functions of the Bisq DAO and how BSQ enables them. The document includes several example transactions so you can explicitly see the processes.

== Outdated documents ==

'''The following documents are outdated.''' They are provided here purely for those who would like to explore the ideas upon which Bisq was built, and how it has evolved through the years.

* [https://bisq.wiki/images/e/e5/Bisq-dao-phase-zero.pdf Phase Zero] [PDF] - a thorough plan published in late 2017 covering the vision for the Bisq DAO, why it's needed, and how it would be rolled out
* [https://bisq.wiki/images/a/a1/Bisq-dao-overview-legacy.pdf Overview] [PDF] - an earlier version of the Phase Zero document
* [https://bisq.wiki/images/2/23/Bisq-dao-techspec-legacy.pdf DAO technical spec] [PDF] - a technical overview of the Bisq DAO written about 2 years before it launched
* [https://bisq.wiki/images/6/6d/Bisq-white-paper.pdf White paper] [PDF] - a detailed look of Bisq's founding mission and principles, written early on (within a year of its launch)

File:Bisq-white-paper.pdf

2021-04-27T23:55:24Z

Plebeian9000:

White Paper (OUTDATED, uploaded for historical reference only).

File:Bisq-dao-techspec-legacy.pdf

2021-04-27T23:54:37Z

Plebeian9000:

DAO Technical Spec (OUTDATED, uploaded for historical reference only).

File:Bisq-dao-phase-zero.pdf

2021-04-27T23:53:52Z

Plebeian9000: make purpose of document more clear

Bisq DAO, Phase Zero (OUTDATED, uploaded for historical reference only).

File:Bisq-dao-overview-legacy.pdf

2021-04-27T23:53:03Z

Plebeian9000:

Bisq DAO, Overview (OUTDATED, uploaded for historical reference only).

File:Bisq-dao-phase-zero.pdf

2021-04-27T23:51:10Z

Plebeian9000:

Bisq DAO, Phase Zero.

Payment account age witness

2021-04-27T23:21:15Z

Plebeian9000: first commit (without syntax highlighting for big code blocks)

'''Payment account age witness''' is a mechanism to protect against bank fraud when doing fiat transactions with strangers on the internet.

Payment account aging worked well for about 2 years until it was significantly improved in v1.5 with [[Account_limits#Account_signing|account signing]].

''This article is adapted from [https://github.com/bisq-network/bisq-docs/blob/master/payment-account-age-witness.adoc a document] originally hosted on the old documentation website (https://docs.bisq.network). It was written by Manfred Karrer and originally published on 14 September 2017.''

__TOC__

== Problem ==

Because bank transfers can be canceled and bitcoin transactions cannot be canceled, buying bitcoin with a stolen bank account is an attractive proposition for criminals. If a criminal does manage to buy bitcoin with Bisq using a stolen bank account, the rightful owner of the stolen bank account will probably discover the fraud and immediately cancel the payment (i.e., initiate a chargeback). Unfortunately, the bitcoin seller will have already unlocked their deposit and will lose the fiat payment they received.

Payment account aging seeks to make it less practical for a criminal to cash out a stolen bank account in this way.

The account aging protection mechanism described in this article assumes the following:
* a criminal will want to withdraw funds from a stolen account as quickly as possible
* a criminal would prefer to do a few large transactions instead of many small transactions (because with each transaction, risk of the fraud being discovered goes higher)

With trade size limits in Bisq, there already is some protection against this fraud scheme, but it would be even better to increase security even more by adding a verification scheme for the age of the payment account within Bisq.

To protect user privacy we use a hashing scheme. Only the other trading peer (who gets the other peer's payment account data anyway, so they can make the payment) can verify that the hash provided in the offer matches the peer's payment account hash.

== Overview ==

The initial idea for this scheme was already discussed on the Bisq forum ([https://forum.bisq.io/t/new-requirement-for-payment-accounts-with-chargeback-risk/2376/65 one], [https://forum.bisq.io/t/payment-account-age-based-trade-amount-limits/2948 two]).

This mechanism is only relevant for fiat payment accounts, because with altcoins, there is no chargeback risk.

We posit that a 60-day-old payment account should be safe (it seems highly unlikely that a stolen bank account will not get discovered for such a long time). '''This is the core premise of account aging''': from the time a user sets up a payment account in Bisq, until 60 days later, Bisq limits the size of trades handled by that payment account.

Cheating this mechanism would be difficult because a scammer cannot know a stolen account's information before stealing the account.

Consequently, we use following trade limits:

* Account age is 0-30 days: 25% of the payment method's maximum (e.g. 0.125 BTC if maximum is 0.5 BTC)
* Account age is 30-60 days: 50% of the payment method's maximum (e.g. 0.25 BTC if maximum is 0.5 BTC)
* Account age is 60+ days: 100% of the payment method's maximum (e.g. 0.50 BTC if maximum is 0.50 BTC)

''Please note that the numbers above are for illustration purposes only; trade size limits will fluctuate based on BTC market price. See [[Payment_methods|trade limits]] for a listing of payment methods and their maximum allowed trade sizes.''

== AccountAgeWitness ==

When a user sets up a fiat payment account (e.g. SEPA, Zelle, etc) in Bisq, he publishes an AccountAgeWitness data object to the P2P network.

=== AccountAgeWitness data object ===

The AccountAgeWitness object contains a hash and the date of publishing.

// Ripemd160(Sha256(ageWitnessInputData, salt and pubKey)) - 20 bytes
private final byte[] hash;
// 8 bytes
private final long date;

The hash is created with Sha256 and wrapped into a Ripemd160 hash to get a 20 byte hash instead of 32 bytes as it would be with Sha256. Input for the hash is a concatenation of the ageWitnessInputData (e.g. IBAN), a 256 bit salt and the pubKey. The ageWitnessInputData is the smallest set of uniquely identifying payment account data (e.g. concatenated IBAN and BIC). We don’t use the complete payment account data because we don’t want to break an existing ageWitness by minor changes like changing the holder name (e.g. adding middle name). The public key is used in the verification process to check the signature which will get passed in the trade process. That will assure that the AccountAgeWitness data cannot be used by anyone else (see: [[#Hijacking_a_foreign_AccountAgeWitness|Hijacking a foreign AccountAgeWitness]]). The application wide 1024 bit DSA signing key is used. Signature algorithm is "SHA256withDSA".

The salt value will be locally persisted with the payment account object.

The date must not be older or newer than 1 day compared to a receiving peer’s local date. If the date is outside of that tolerance range the AccountAgeWitness object will get ignored and not further broadcasted. With that check we protect against back-dating attempts (see: [[#Broadcasting_a_back-dated_AccountAgeWitness_object|Broadcasting a back-dated AccountAgeWitness object]]). We allow a rather large tolerance because computer clocks might be out of sync and the relevant periods are rather long (30 or 60 days), so the max. gain from an abuse of that tolerance window of 1 day is negligible.

This AccountAgeWitness data structure results in 28 bytes per item but as we use Protobuffer there is some overhead added which results in 33 bytes per data item. If we store 1 000 000 AccountAgeWitness objects we would have about 33 MB of data. The data are locally persisted and with every release we ship the latest state in a resource file. That helps that new users don’t need to retrieve all data from the P2P network. We also use a diff when requesting so we only request the missing data from the seed node at startup.

If the data would become too large, we can consider a time-to-live (TTL) mechanism where AccountAgeWitness objects need to get triggered with a refresh message to stay active. That way outdated objects which have not received any TTL signal since a long period (e.g. 6 months) would get pruned.

// class AccountAgeWitnessService
public AccountAgeWitness getMyWitness(PaymentAccountPayload paymentAccountPayload) {
byte[] accountInputDataWithSalt = Utilities.concatenateByteArrays(paymentAccountPayload.getAgeWitnessInputData(),
paymentAccountPayload.getSalt());
byte[] hash = Hash.getSha256Ripemd160hash(Utilities.concatenateByteArrays(accountInputDataWithSalt,
keyRing.getPubKeyRing().getSignaturePubKeyBytes()));
long date = new Date().getTime();
return new AccountAgeWitness(hash, date);
}

// getAgeWitnessInputData at example class SepaAccount
public byte[] getAgeWitnessInputData() {
// We don't add holderName because we don't want to break age validation if the user recreates an account with
// slight changes in holder name (e.g. add or remove middle name)
return super.getAgeWitnessInputData(ArrayUtils.addAll(iban.getBytes(Charset.forName("UTF-8")),
bic.getBytes(Charset.forName("UTF-8"))));
}

// CountryBasedPaymentAccountPayload super class
@Override
protected byte[] getAgeWitnessInputData(byte[] data) {
return super.getAgeWitnessInputData(ArrayUtils.addAll(countryCode.getBytes(Charset.forName("UTF-8")), data));
}

// PaymentAccountPayload base class
protected byte[] getAgeWitnessInputData(byte[] data) {
return ArrayUtils.addAll(paymentMethodId.getBytes(Charset.forName("UTF-8")), data);
}

// Getting salt from CryptoUtils, called from PaymentAccountPayload constructor with size 32
public static byte[] getRandomBytes(int size) {
byte[] bytes = new byte[size];
new SecureRandom().nextBytes(bytes);
return bytes;
}

=== AccountAgeWitness propagation ===

The user will publish the AccountAgeWitness data when setting up the payment account and re-publish at each startup to ensure higher redundancy. Peers who have the data already will not broadcast it further.

The AccountAgeWitness data will be distributed in the P2P network and stored locally at each user. At each new release we will ship the actual data set as resource file (e.g. <code>PersistableNetworkPayload_BTC_MAINNET</code>) with the application binary to avoid that new users need to download the complete data set.

When a node receives an AccountAgeWitness object it verifies that the tradeDate is not older or newer than 1 day compared with the local time of the node, otherwise it will reject the object. The date check is only done when receiving the data via the P2P network broadcasting, otherwise we could not fill up our initial map received form the seed node with the past distributed AccountAgeWitness objects.

NOTE: There is no date check for the data we receive from seed nodes. This is in the current state not an issue because the seed nodes are bonded with BSQ against abuse but in future improvements we would like to distribute more functions from the seed node to ordinary nodes and then there is a security issue with that.

{{Admonition_Note|There is no date check for the data we receive from seed nodes. This is currently not an issue because seed nodes are [[Introduction_to_the_DAO#Ensure_honesty_in_high-trust_roles|bonded with BSQ]] against abuse but in future improvements we would like to distribute more functions from the seed node to ordinary nodes and then there is a security issue with that.}}

=== Offer ===

The offer maker will add the hash used in the AccountAgeWitness object to his offer. With that hash all users can look up if they have an AccountAgeWitness matching the hash and if so they can evaluate the account age. The account age will be visually displayed in the offerbook. At that stage nobody can verify if the hash is matching the real payment account data. But this is not a problem because the verification will be done once someone takes the offer. A fraudulent offer would cause a failure in the take offer process.

=== Verification ===

When a trader takes an offer both users are exchanging in the trade process the signature of data defined by the other peer (for taker we use the offer ID, for maker we use the takers preparedDepositTx - we use that data like a nonce for the signature), the pubKey, the salt and the peer’s local date. With that data the other peer can verify that the other trader is the owner of the AccountAgeWitness data (as the pubKey is part of the hash and the signature gets verified with pubKey and predefined input data) and that the hash is matching the account data used for the trade. As the date of both users will differ at least slightly we exchange the peer’s local date and use that for calculating the age and trade limit. The date needs to be inside a 1 day tolerance otherwise the trade fails. That way we avoid problems with corner cases when the age just enters the next level for one peer but the verifying peer might get another result because of time differences. Any violation of those rules would lead to a failed trade.

Verification steps:
# Check if witness date is after release date for that feature (v0.6 or newer)
# Check if peer’s date is within 1-day tolerance window
# Verify if witness hash matches hash created from the data delivered by peer (ageWitnessInputData, salt, pubKey)
# Check if peer’s trade limit calculated with its account age is not lower than the trade amount.
# Verify if signature of the predefined input data (offer ID or preparedDepositTx) is correct using the peer’s pubKey.

By using offer ID and preparedDepositTx for the nonce, we avoid the need for a challenge protocol. We have chosen data which are defined by the other peer so they cannot be manipulated.

== Attempts to game the system ==

=== Broadcasting a back-dated AccountAgeWitness object ===

We need to be sure that the date of the trade in the AccountAgeWitness object cannot be back-dated by a malicious trader. To achieve that, any node will ignore AccountAgeWitness objects which are older or newer than 1 day.

=== Hijacking a foreign AccountAgeWitness ===

A more advanced fraud approach would be an attempt of hijacking someone else’s AccountAgeWitness and payment account to gain the benefit of an already aged account.

A malicious trader could make a trade with someone who has already an old account and takes the account data of that trader to use it for an own account. That fake account can only be used for buying BTC because for selling he would not receive the Fiat money but the user from where he has "stolen" the data. Because he has traded with the peer he has received all the relevant data for the verification like the salt and the pubKey. To protect against such a hijacking attempt we use the peer’s signature to verify ownership of the AccountAgeWitness data. Without the private key the fraudster cannot create a correct signature matching the pubKey and input data. The public key is used for the hash in the AccountAgeWitness so he cannot alter that. The signed data is defined by the other peer and different for each trade so he has no chance to use data where he knows already the signature.

=== Changing a foreign AccountAgeWitness ===

The AccountAgeWitness data are appended in a data structure which is only protected by checking if the date in the AccountAgeWitness object is not older or newer than 1 day compared to the current date of the local node. Once data is stored there it cannot be altered. It uses the AccountAgeWitness hash as key in a hash map. There is no way to change an already broadcasted AccountAgeWitness object.

One sophisticated attack could be to alter the date in an AccountAgeWitness to a far future date thus occupying the map entry by the hash and preventing the originator of the data to get propagated his real account age. To prevent that we check that the date is also not '''newer''' than 1 day. So worst an attacker could do is to fake ones AccountAgeWitness date by 1 day to past or future. That will not have any effects as we use a 1 day tolerance window at the verification.

=== Using an older version of Bisq ===

Account aging was implemented in Bisq 0.6, so a user may try to use an older version of Bisq to get around the account aging mechanism. To avoid this, the network will stop supporting offers made with Bisq programs before v0.6 on February 15 2018. There will be a fade-in period for the feature so users have a chance to get their accounts aged to >2 months without hitting trade limits. Offers using payment accounts without an account age witness will be rejected after February, 15, 2018.

== User interface ==

From a user perspective the changes are visible in the create offer screen, take offer screen, the offerbook and the payment account. The trade amount limits are reflected and feedback will be provided if the user tries to take an offer with a higher amount as his account age permits. The user icon in the offerbook will contain a colored ring around the icon representing the account age. The tooltip and the peer info box (opens when clicking the icon) will add textual information about the account age. Offers with a min. trade amount exceeding the users account age based limit are greyed out and on click the user gets a popup displayed with information why he cannot take that offer. The create offer and take offer screens have the trade amount input validators adjusted to reflect the trade limit. In the payment account screen the user can see the age, the limit and the salt.

=== Salt management ===

If the user changes his payment account or start over with a new application we need to support that he can re-use the salt he used with a certain bank account. We added an extra field in the payment account setup screen where the user can add a past salt (by default the app generates a random salt).

== Update and migration process ==

We don’t want to disrupt the trade experience for existing traders by reducing the trade amount limit to the lowest level when we publish that update. Also existing offers would get rendered invalid.

To fade in that feature we use a date-based approach.

* Before December, 15, 2017 (about 1.5 months after release) we don’t apply the lower limit based on the account age.
* After that date and before January, 15, 2018 we only apply a factor of 0.75 to those which are less then 30 days old. Accounts which are 30-60 days old are not affected (no reduction).
* After that date and before February, 15, 2018 we apply a factor of 0.75 to the default limit for accounts which are 30-60 days old and 0.5 to those which are less then 30 days old.
* After February, 15, 2018 we apply the target factor of 0.5 to the default limit for accounts which are 30-60 days old and 0.25 to those which are less than 30 days old.

Offers which do not contain the accountAgeWitness hash (i.e. those created before v0.6) will become invalid after February 2018. This is important because we need to make it very difficult (ideally, impossible) to circumvent the account age verification scheme.

The trade amount limit is part of the OfferPayload, so it is flexible with changes in updates and the value at offer creation time will be taken for both traders even if the hard coded value in the application would have been changed in an update and one of the traders have not updated yet. The reduction factors and the time schedule is not part of the offer and cannot be changed in future updates without breaking backward compatibility. We consider that risk acceptable and choose not to add that data to the offer to not overload the offer with details.

Introduction to the DAO

2021-04-27T20:16:01Z

Plebeian9000:

The Bisq network is governed by a '''decentralized autonomous organization (DAO)''' built on the Bitcoin blockchain.

== Introduction ==

=== What is a DAO? ===

Conventional entities such as for-profit and non-profit corporations must be sanctioned by the state: they are legal entities registered in particular jurisdictions. No matter how big or small or virtuous or innovative they are, they cannot operate without state approval. In return for this approval, the entity is endowed with rights (e.g., limited liability) and responsibilities (e.g., taxes).

A '''decentralized autonomous organization (DAO)''' is just a generic term for a governance model sanctioned by software: code defines conventions for governing the project irrespective of the stance of the state.

{{Admonition_Note|We say a DAO’s governance model must be sanctioned by software, not necessarily controlled by software. The Bisq DAO, for example, is not controlled by software: software merely provides a framework for the people involved with the Bisq project to (collectively) manage the software itself. The Bisq DAO operates on the idea that '''code is not law'''. Code is written by humans to provide a service to other humans, so it should be accountable to humans too. }}

The universe of DAOs is diverse. Just as companies come in many shapes and sizes, and some companies are scammy, fraudulent, or just poorly managed—that’s no reason to assume all companies are the same way. It’s the same with DAOs: some DAOs haven’t worked out so well, but others might turn out differently.

== The Bisq DAO ==

The Bisq DAO forgoes a system where governance is dictated by the rigid rules of software in favor of a self-contained economy where governance is guided by software but ultimately determined by the collective, subjective judgments of its community.

It achieves this by introducing a unit of value called the '''BSQ token''' that enables Bisq stakeholders—contributors, traders, or anyone who owns BSQ—to make subjective value judgments. This token underlies all actions in the DAO.

[https://www.youtube.com/watch?v=pNvOZlIDYEQ&feature=emb_logo Click here for a quick introductory video on the what & why of the Bisq DAO]

=== BSQ token ===

{{BSQ_Token_Intro}}

=== Overview ===

Here’s a graphical overview of how the DAO works at a high level:

[[File:User-dao-diagram.png|700px|thumb|left]]

<div style="clear: both;"></div>

Let’s observe some of the dynamics of this system:</br></br>

* Contributors ''maintain'' Bisq through valuable work
* Traders ''use'' Bisq to buy and sell bitcoin and other cryptocurrencies
* Contributors ''earn'' BSQ tokens when their compensation requests are approved through voting
* Traders ''buy'' BSQ tokens in order to pay lower trading fees
* Stakeholders ''vote'' on compensation requests
* Contributors can ''lock'' a bond in BSQ to ensure integrity in high-trust roles</br></br>

Now let’s see how these dynamics enable the Bisq DAO to provide 3 core governance functions without any central points of authority.

=== Earn and distribute revenue ===

Every project needs to be financially sustainable to fund ongoing operations and development. But traditional means of handling revenue and revenue distribution are necessarily centralized—any receiving address or account must be owned by one person, or a small group; determining how much a person should be paid must be determined by one person, or a small group; etc.

'''Contributors produce, creating BSQ'''

In the Bisq DAO, trading fees are collected from traders and distributed to contributors, but there is no central authority to do this. Here’s how it works: after a Bisq contributor does work, they file a '''compensation request''' in the DAO with a description of what they did and how much BSQ they want in return. Then, stakeholders (who are other contributors, traders, and anyone else with BSQ) vote for/against the request. If the request is approved, the contributor is issued new BSQ in the amount they requested and '''BSQ supply is increased'''.

{{Admonition_Note|'''<big>Where does new BSQ actually come from?</big>'''</br> Recall that a BSQ token is merely colored bitcoin. When a contributor makes their compensation request in the DAO, they must also include the tiny amount of bitcoin to be '''colored''' as BSQ (the [[DAO_technical_overview|spec]] requires 100 satoshis). So if a contributor requests 1,000 BSQ, they will need to include (100 * 1,000 equals 100,000 satoshis) with their compensation request, just about 10 USD at a rate of (10,000 USD/BTC).</br></br>If their request is approved, those satoshis are '''colored''' and recognized as 1,000 valid BSQ tokens on Bisq. Assuming a BSQ market value of 1 USD (exact value will fluctuate), the contributor will have been granted 1,000 USD worth of BSQ for a negligible cost of 10 USD.}}

'''Traders consume, burning BSQ'''

Then, a trader looking for lower trading fees can buy those BSQ tokens from a contributor. When they buy BSQ tokens for BTC, the contributor is paid for their work, and the value transfer from producer to consumer is complete! When a trader pays trading fees with BSQ, those BSQ tokens are burned or "decolored" and '''BSQ supply is decreased'''. This process of creating and destroying BSQ tokens enables a sort of [https://docs.bisq.network/dao/phase-zero.html#how-bsq-decentralizes-compensation-and-enables-monetary-policy monetary policy] controlled by Bisq stakeholders and traders.

In this way, there is no need for a central entity to collect and distribute revenue: the BSQ token enables a transfer of value from producer to consumer without any single entity controlling any aspect of the decision-making or distribution process.
{{Admonition_Note|<big>'''Note on BTC revenues'''</big></br>
In the past, before the Bisq DAO launch and before the integration of Bisq’s new trade protocol, trading fees were only collected in BTC and only went to arbitrators. There was no mechanism to distribute them to other contributors. The DAO solves this distribution problem with BSQ through the process outlined above.</br></br>
But since traders can still pay trading fees with BTC, where do those BTC fees go?</br></br>
BTC fees go to a [https://github.com/bisq-network/roles/issues/80 bitcoin "donation" address] held by a bonded contributor, who uses the BTC to buy BSQ on a regular basis to distribute the BTC fees to stakeholders, and the BSQ obtained is [https://github.com/bisq-network/proposals/issues/55 burned].}}

=== Determine strategy ===

Another point of centralization in traditional organizations is with strategy. How can a project determine strategy without some form of designated leadership: an executive, manager, or leader to give direction and allocate resources?

The Bisq DAO beats this tradition with collective decision-making on strategy and other matters through '''weighted voting''' based on BSQ stake.

Here’s how it works: any stakeholder can make a proposal in the DAO. It can be anything: a change in a trading parameter, a new bonded role, or even something more generic like an adjustment of overall project strategy. Stakeholders vote on the proposal, and their voting weight is based on BSQ stake, through a combination of two metrics:</br></br>

# amount of BSQ committed to a particular vote
# amount of BSQ earned over time through contributions</br></br>

Taking both metrics into account discourages deep-pocketed whales from suddenly seizing control of the project, while still valuing dedicated stakeholders with consistent contributions over time. It brings about a '''strict meritocracy''' in which people need to somehow buy in to the Bisq project in order to take part in its governance, and the more significant their stake, the stronger their voice.

In this way, there is no need to rely on a single leadership team for direction: the community collectively manages itself.

=== Ensure honesty in high-trust roles ===

Despite the Bisq project’s attempts to resist concentrating control as much as possible, it’s impossible to avoid in some places. Domain name owners, social account admins, mediators, various node operators: these are all roles that must exist, but necessarily retain significant control and require a high degree of trust.

Part of the benefit of a centralized team of thoroughly-vetted people reliant on a paycheck, as is the case in most companies, is that the risk of trusting people with significant responsibility is lower: they have a lot to lose if the company finds they have violated their integrity and engaged in foul play.

This dynamic can be reproduced—at least partly—in a project without a central authority through '''bonding'''. The concept is simple enough: create skin in the game. Require that a person interested in taking on a high-trust role post a bond that’s high enough to discourage them from engaging in foul play.

But what happens if that person goes rogue? In a project without central authority, who decides when they’ve crossed the line, and what their fate should be?

As with strategy and compensation, the community decides through voting. Anyone who suspects foul play can make a case for confiscating a bond with a new proposal, and stakeholders vote to determine an outcome.

{{Admonition_Warn|Confiscating a bond is a harsh penalty which should not be taken lightly. Therefore, the Bisq DAO makes confiscation proposals especially hard to approve: they require a quorum of at least 200,000 BSQ and 85% acceptance to pass (instead of the typical >50%).}}

In this way, the risk that people in high-trust roles misbehave is minimized, and the community has access to a responsible mechanism for handling such a scenario in cases that warrant it.

== Learn more ==

For more information on how you can use the DAO to trade/contributor, how it works, it's technical foundations, etc. please see the [[Decentralized_autonomous_organization|Decentralized Autonomous Organization]] page.