31 sats \ 1 reply \ @atitlanio 4 Dec 2023 freebie \ on: Have you tried bisq? bitcoin
I installed bisq, but never ventured too far past there.
Robosats is great but as @gnilma mentioned there is still a KYC record happening when sending/receiving between two parties based on whatever banking app/service they use.
I've hear someone who received from a Venmo handle or whatever called like "SatStacker9000" which is just like why would you do that on a privacy focused app 😂
Nice thing about Robosats is it's all on lightning so it's fast! Bisq seems to be on-chain.
Yes, Robosats is all on lightning, but they use hodl invoices to conduct the bitcoin escrow. If I'm not mistaken, Robosats also use a centralize coordinator node to hold and control these hodl invoices; so it's not an actual peer to peer exchange, putting users at rug-pull risk and also putting Robosats at regulatory risk (the centralized coordinator is an easy target and can be shut down). I think they also use a centralize order book, but I'm not 100% sure about that.
Compared to that, Bisq is as decentralized as possible. There is no centralize order book or centralize server to do escrow. Everything is done peer to peer, other than dispute resolution, which is done by Bisq mediators and arbitrators. But even during dispute resolution, the mediators can only suggest a resolution, and the arbitrators can only arbitrate which trading party to get whatever percentage of the escrowed coins; they cannot steal the coins. In other words, the rug-pull risk and regulatory risk are minimized, as they keep everything as decentralize as possible and try to do everything peer to peer (no centralize target to attack).
In the end, it comes down to trade-off. Better UI/UX+lower fees vs risk minimized+robust.
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