⚡️ Bisq Market Day - March 20th 2023 #274
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Great proposal. Previous market days helped a lot. Having a certain date is a good way to focus objectives. The ask is simple: please create an offer on Bisq on March 20th 2023. Let's try to get new markets started on that day! China, Nigeria, India, Argentina could be interesting markets. We can reach out to local Bitcoin communities like the ones listed here: https://btcmap.org/communities to participate! |
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Less than 3 months left for Bisq Market Day! Here's a list of tasks in search of volunteers to take them on: Before Market Day
On Market Day
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As well as having representatives from different local markets on the livestream, each talking about their local perspective (I'm particularly interested in having someone from Nigeria, given what's going on there with CBDC, etc.) It would also be interesting to have a number of guests from other P2P or DEX projects to compare notes, see what they do better or worse than Bisq. Since the livestream could span multiple timezones and last a few hours, there's time for a lot of guest appearances... Guest Wishlist: P2P exchanges
FOSS Projects / potential collaboration
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Speaking of local groups, BTCMap's community map is awesome! https://btcmap.org/map?communitiesOnly
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Some memes from @w0000000t
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I want to boost a message on RHR for Bisq's market day. I will spend 77,777 sats so that it will be read out as a top 4 boost. I was gonna boost something like this but could use feedback: |
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Let me suggest changing from: "On the 20th of March Bisq will have a market day. Show your support for the P2P exchange that cannot be shut down by creating an offer on Bisq, especially in less liquid markets. Bisq 2.0 will also be launching. Initially as a lightweight P2P message board but with more to come in the future." To: "Bisq Market Day on March 20th. Show your support for the P2P exchange that cannot be shut down by creating an offer on Bisq. Kick-start new markets. Join the Bisq community on Matrix (https://bisq.chat/). Try out the new Bisq 2.0." As to the timing, I agree 3-4 days before market day is probably best. Sooner and people forget, later and people can't prepare in time. |
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Key messages: WHY = Support Bitcoin decentralized exchange I would create content in support of each of these messages. The WHAT and WHEN are simply conveyed in this image:
For the HOW we can use links to the Bisq wiki: https://bisq.wiki/Howto The WHY is the most important. There are many reasons why a DEX is important for Bitcoin and good for users... but we need to think a lot about how to transmit these reasons in a simple and powerful way. |
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Reasons why you should support Bitcoin decentralized exchange:
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I keep thinking what is the best way to kickstart a new market. We've tried with bounties for market makers, 1st trade, etc. See for example: #23 Claimed in 2020 by @adibas03 @Olugbo - no trades in NGN since 2021. Most have not resulted in sustainable or liquid markets after the bounty. We did learn a lot from the experience. At the very least we should contact all Bisq users who have claimed bounties in the past and ask them to participate in Market Day.
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My boost was read on the most recent RHR. It was 4th on the list for 77,777 sats. I went with @flix1's suggested wording. For the RHR just prior to Bisq's Market Day I will try to boost enough to get 1st on boostagrams either that, or if it is cheaper, pay for a $50 shoutout. |
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I will be more than glad to help to Bisq growth and it will be great if you can tell me what to do or any plan to keep some activity. |
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That is excellent news @RadishXN ! I really want to activate China on Market Day March 20th. I will personally pay you to act as market maker on that day to make sure that there are some offers available in CNY/BTC. Your job would be:
If you accept this job I will pay: -200 BSQ in advance To be clear - this is not a Bisq bounty. I will be paying this personally as an experiment. |
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They are great incentives!! |
I will be more than happy to appreciate your proposal. I will try my best to do it. |
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I take that as a yes @RadishXN. Please post a BSQ address here and I will send you the advance payment. |
I try to reach you on element, but I am not sure if you recieve my message, please let me know. |
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Advance paid. Please write about anything that needs to be fixed in the next release for CNY/BTC. Translation, payment methods, etc... Anything that is blocking people in China from using Bisq... so we can ask the Bisq devs to fix it before Market Day. |
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We should definitely take advantage of this by contacting LBC traders and explaining that Bisq CANNOT discontinue its service because it is not a company but a DEX.
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Social media countdown
To make coordination of social media efforts simpler, we can use this shared spreadsheet: |
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It looks like we might have somebody interested in helping from Nigeria! So i'm going to offer the same incentives as for China. I will pay you to act as market maker on that day to make sure that there are some offers available in NGN/BTC. Your job would be:
If you accept this job I will pay: -200 BSQ in advance To be clear - this is not a Bisq bounty. I will be paying this personally as an experiment. |
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Hello sir, I’m interested |
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Welcome @Jayboi23 I'm really looking forward to seeing Nigeria active on Bisq. The job is yours. Message me on Matrix with a BSQ address for the advance payment. |
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OK, so we managed to do a Bisq test trade for HKD with a guy from the Hong Kong Bitcoin association. Several of its members are looking to participate in market day. In summary: it did NOT go easy. UX is not a Bisq strong point. I'm going to list all the issues we ran into here for future reference. We started at 11:00 CET (19:00 HK) and finished at 19:30 CET (2.30 HK) so it required a lot of patience. -First issue was initial Bisq sync time after install. It took hours. No idea why. Finally he managed to take my offer. It's a fake/test trade anyway because I won't require payment from him, so it should be fast to complete. ...but you can see all the things that need fixing, improving, simplifying. Any other guy would have given up after the first hour. |
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Its due to Tor connectivity & throughput. Looks like CN / HK have worse issues than most. |
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Advance payment to @Jayboi23 made. Confirmed as market maker for the 20th. |
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We now have a live real offer in HKD
We have a maker! Now we just need a taker. |
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Venezuela is live! https://twitter.com/bisq_network/status/1632725969181061121
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In the past few days we've had trades in HKD, ARS, CLP, MXN, PLN.
It's not a lot, but it shows what is possible. |
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Proposal for User defined Payment Method on Bisq bisq-network/proposals#406 This should help solve some of the problems pointed out by @RadishXN @Jayboi23 and others. Let's hope we can try it out on Market Day! |
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We have a Nigerian Naira trade!
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As a test it looks like we are going to be experimenting with the payment method workaround (F2F) until Market Day: https://twitter.com/bisq_network/status/1633093747306115072
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More Nigerian Naira trades :)
…On Tue, 7 Mar 2023 at 07:34, Félix ***@***.***> wrote:
We have a Nigerian Naira trade!
[image: image]
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Now 2 trades |
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I will do either a $50 shout-out or a large enough boost to ensure 1st place boost on RHR this week. |
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Feedback from Japan
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I will be making it a shout-out since my Lightning wallet doesn't have enough funds in it for a 1st place RHR boost. "Bisq Market Day is on next Monday the 20th of March. Show your support for the KYC-FREE P2P Exchange, that cannot be shut down, by creating an offer on Bisq. Kick-start new markets! Join the Bisq Community on Matrix (https://bisq.chat). Become a part of the Bitcoin on ramps as they should be, PEER TO PEER!" Let me know if anyone has any edits to suggest o.w. I will be paying the shout-out in the next day or so. |
This has been done now |
They didn't read the shoutout. I will try to get Matt or Marty to Tweet it instead. |
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This will be the YouTube livestream link: https://youtube.com/live/u75tqjkvxU8?feature=share. We'll use Jitsi for the Video Call and stream directly to YouTube from there. |
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In advance of Market Day I have put together this guide: |
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Today is the day! |
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Look at Hong Kong taking off!
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5 live offers in Nigeria!
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This is the livestream link: https://www.youtube.com/watch?v=u75tqjkvxU8 see you in 2 hours |
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350 trades in total on market day. Not bad!
Including trades in: EUR, USD, GBP, BRL, CAD, AUD, CZK, DKK, NZD, NOK, HKD, CHF, JPY, MXN, CNY, NGN! Every continent represented. Bisq, like Bitcoin, is global... or at least has the potential to be used by anyone, anywhere. |
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Through the month I was working into getting the communities from Venezuela, Argentina, Malaysia, Japan, Colombia and, Turkey to use Bisq, they all have similar feedback for why they didn't end up using Bisq even on market day: -Needing to have your computer turned on for offers to appear In countries like Venezuela, Argentina, Colombia and Turkey they all added to the list the same thing: They are all waiting for Bisq 2 so they can use Lighting for smaller quantities and Bisq Easy's reputation system. Japan on the other hand is ok with the security deposit but they've told me that they would like to have a way for offer makers to vet offer takers. The other communities saw no other drawbacks, but in the end, liquidity seems to be the biggest problem for all communities, they all wanted to help Bisq in its mission but all of them ran away the moment they saw there was no liquidity for their respective markets. |
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During the Market Day event, I found some Chinese Telegram groups and invited them to try Bisq. The feedback I received mainly focused on incomplete translations, lack of a mobile app for convenience, insufficient beginner guidance, and the need for proxies to use Bisq in China. The main advantage mentioned was absolute anonymity. Overall, the lack of convenience is the biggest obstacle for Chinese users, and they need personal guidance on how to use Bisq. Based on this feedback, I suggest that the Bisq team take the following measures to improve trades in the Chinese market:
By the way, I made this poster try to help. |
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In the market day, I tried all I could to invite traders from Nigeria to use Bisq, though some of them loves the idea but the challenge there is the fact that Bisq is desktop based. I discussed the issue with Mr Felix and I love the fact that the issue was discussed on the live discussion on YouTube on the market day and another thing is that most people don't have full understanding of BTC in Nigeria.
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Very useful feedback @Jayboi23, @RadishXN and @verdeja! With Bisq v1 being exclusively On Chain it will be a challenge to facilitate smaller transactions. I could still see some local players in Venezuela, Argentina, Colombia and Turkey potentially using Bisq to buy or sell +1m sat transactions and maybe using a trust/non-escrow based process to distribute proceeds from smaller quantities. With Bisq Easy launching this year, this will be an escrow-less trust based application for P2P bitcoin. With Bisq v1 liquidity issues for less liquid markets we have one feature that is in development which may help. The ability to share escrow across multiple offers at once: The points on keeping offers Live are very valid and something I have ran into myself. If you are a power user who runs a 24/7 node (on a reasonably powerful machine not a RasberryPi) then I would strongly recommend to look at my guide on how to use XPRA on a headless server to keep Bisq running 24/7. Again this is only useful for power users with the current software and I agree this should be addressed at some point in Bisq v2. On the Mobile App, this takes some extra considerations. Bisq operates as a Node in a decentralised network. I think you could have a mobile app that could connect back to a headless version of Bisq that you run at home on a 24/7 server but anything less than this would be a loss of the decentralised nature of the software. I am not saying it isn't possible to have a mobile-only solution (without at-home-server) but careful considerations must be made. Most importantly at the moment the Bisq2 development team is lacking in resources. Here is the repo activity for Bisq2: |
Summary
Following the 2018's proposal to create more liquidity on bisq, perhaps it's a good time to revisit this idea and give it another push. I believe it worked quite well back then and although it didn't reach the objectives it was a great starting point.
Proposal
On March 20th 2023 we will try to get as many people as possible to place offers on Bisq as a way to kick-start liquidity and also launch the newest release. Bisq 2.0.
Objective
Reach maximum number of offers published during 1 day.
If we can reach 1000 offers published on one day we will see a new high in number of trades.
Please add a 👍 below if you will participate!
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