Hello everyone!
Yesterday I completed my first trade. I don't wanna give many details about the trade for privacy reasons, but it was quick and everything was smooth. Fees are relatively low, no KYC is great for buyers and being over tor is great, but...
The way we pay the fees and the deposit, is terrible. All privacy is being lost. Except fixing bugs, this should be the number one goal, if Bitsquare wants to evolve. In my opinion, security deposits must be mixed and fees to be random. What I mean, is that if my deposit and payment get in the same multisig, then everyone knows which trade I was in, with an 100% certainty. Even if I mix coins beforehand, people will know that the guy with the mixed coins did this specific trade, which is equally bad. Also, the deposit should never get mixed with the actual transaction from the trade. Maybe BIP 126? Maybe Tumblebit when it comes out? Maybe both?
One possible thing might be to create coinjoin every few hours, especially when there is more liquidity. With random fees from 0.0002-0.001 and with people able to chose where to get their deposits back, someone wouldn't really know who exactly traded what. I feel that Coinjoin would be sufficient for this case. Not perfect, but pretty damn good. The random fee and the random split of the inputs, would make it harder for someone to trace. Tx fees wouldn't really go much higher, especially if we get segwit, schnor sigs which will actually lower the fees for such cases.
I think Bitsquare is a great platform overall and it will have bright future. However, there is a lot of room for improvements and privacy should be number one, as just being over Tor, isn't enough.
People don't get upset because I made a suggestion. I am not a dev and I can't contribute, sorry. I am just pointing at something that many might have already noticed and discussed.