Post
Topic
Board Development & Technical Discussion
Re: BTC Needs A Privacy Layer
by
o_e_l_e_o
on 25/05/2021, 15:24:02 UTC
I don't have any links with more information but I can see that Fiat option is coming soon in their desktop wallet, like you can see in screenshot I made below.
Well, it will be interesting to see what they manage to come up with. As I say, I don't follow the project, but please keep us updated if they make any changes or announcements. I'd be very keen to check out whatever they implement, especially if they do manage to implement decentralized and peer-to-peer fiat-to-crypto trades without requiring KYC.

In a fully decentralized exchange (just like a fully decentralized cryptocurrency) there is no server to connect to and there is no middle man who receives exchange fees (Bisq doesn't check these boxes).
Bisq doesn't have centralized servers. The software that you run connects peer-to-peer directly to other users over Tor. I'll concede the point about the middle man and fees, though, although I'm not sure how you eliminate them when one side of the trade is using fiat. The only way I can see is if you place complete trust in the other party to release the bitcoin after they have received your fiat payment.

Instead everything happens 100% peer to peer where traders connect to each other and execute scripts (smart contracts) that ensure their safe trade and the only fees they end up paying are the transaction fees (whether it is on-chain or on second layer like lightning network).
This would be the ideal world. It is easy to do when trading between crypto, but how do you do it when one side of the trade is fiat? Maybe there will be a way to trustlessly swap between bitcoin and central bank digital currencies in the future, although I doubt very much that governments are going to like or permit that.