#Bitcoin #nostr

I'd argue that you want to hold BTC longer term and swap into monero for spends. Especially when high fees in BTC

What is the ideal flow for buying on a decentralized exchange?

Ideally...

1. I visit a website. I don't need to download anything.

2. I click BUY or SELL

3. I see some options who to buy from and their asking prices

4. I have a clear understanding of how this thing works. Don't just tell me the payment method, but how that transaction looks like after I hit buy.

5. Sort by payment method

6. Guide me through the transaction or better yet, facilitate it automatically.

What does the dream flow look like?

1. Click buy. You are automatically offered the best deal with your preferred payment method (maybe you specified it earlier).

2. You are provided super simple step by step instructions to finish transaction.

Similar for sell side.

The issue I see with decentralized exchanges:

1. Have to download something

2. The whole thing looks way too complex

3. Not clear how it works

Compare to centralized exchange:

1. Click buy. Done.

See the difference?

I think if we are to improve the UX, we have to think grandma level and start from scratch. No trying to improve a complex trading platform, but really think from the basics. What will grandma need to know or click on and how will she feel about it?

You make it work for grandma. You make it work for everyone.

The issue I see with Bisq (I couldn't install it, got corrupt file) is that it looks like a literal stock trading platform. NOT for an average person. I'd say you have to strip it down to 10% basics to make it work for the average person, provided you do everything else well.

What’s the point of kyc-free purchases if you don’t know where your sats come from? What if they come from a KYC purchase. Wouldn’t chainalysis easily identify where they went?

And if gained illegally, that’s just traced to the buyer, no?

Mr. Govt can say the seller’s sats should be blacklisted and as a buyer you’re sort of screwed regardless if they know your identity or not unless you coinjoin?

How soon before ID required to post on all socials in all the big nations you think? A year? More?

It feels like the ruling class is doing everything they can to erode free speech.

How will nostr hold up to that type of legislation? Will relays have to be physically located in friendly nations? Will nations get IP blocked country-wide?

What’s the worst that could happen and how will nostr fair in that environment?

unsigned notes can’t be pumped into the network. If you connected to one of these trusted relays today most clients would reject the messages. They can’t be spread to public relays because they have no signatures.

You can spam the network with signed notes just the same anyways.

I woke up in the middle of the night and started thinking about deniable nostr notes, notes that do not have a signature so you can’t prove someone actually wrote it if it gets leaked from a private relay.

The idea is simple: you use your key to AUTH when connecting, after doing that, all notes sent are unsigned. The relay can verify its you but notes sent afterward have no signatures.

This is a “trusted” relay mode, no clients can know for sure if the person wrote said notes, but said persons get deniability if the data leaks. The notes are also protected from rebroadcasting to public relays because there are no signatures.

I wonder if anyone is interested in something like this? As long as it’s very clear on the UI that the notes are not verified?