2022-01-15 00:28:19 +00:00
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import {Typography, DialogTitle, DialogContent, DialogContentText, Button } from "@mui/material"
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import React, { Component } from 'react'
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export default class InfoDialog extends Component {
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render() {
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return (
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<div>
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<DialogContent>
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<Typography component="h5" variant="h5">What is <i>RoboSats</i>?</Typography>
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<Typography component="body2" variant="body2">
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<p>It is a BTC/FIAT peer-to-peer exchange over lightning. It simplifies
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matchmaking and minimizes the trust needed to trade with a peer.</p>
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<p>RoboSats is an open source project <a
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href='https://github.com/reckless-satoshi/robosats'>(GitHub).</a>
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</p>
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</Typography>
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<Typography component="h5" variant="h5">How does it work?</Typography>
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<Typography component="body2" variant="body2">
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2022-01-15 10:21:36 +00:00
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<p>AdequateAlice01 wants to sell bitcoin. She posts a sell order.
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2022-01-15 00:28:19 +00:00
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BafflingBob02 wants to buy bitcoin and he takes Alice's order.
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Both have to post a small bond using lightning to prove they are real
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robots. Then, Alice posts the trade collateral also using a lightning
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2022-01-15 10:21:36 +00:00
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hold invoice. <i>RoboSats</i> locks the invoice until Bob confirms he sent
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2022-01-15 00:28:19 +00:00
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the fiat to Alice. Once Alice confirms she received the fiat, she
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tells <i>RoboSats</i> to release the satoshis to Bob. Enjoy your satoshis,
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Bob!</p>
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<p>At no point, AdequateAlice01 and BafflingBob02 have to trust the
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bitcoin to each other. In case they have a conflict, <i>RoboSats</i> staff
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will help resolving the dispute.</p>
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</Typography>
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<Typography component="h5" variant="h5">What payment methods are accepted?</Typography>
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<Typography component="body2" variant="body2">
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<p>Basically all of them. You can write down your preferred payment
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method(s). You will have to match with a peer who also accepts
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that method. Lightning is fast, so we highly recommend using instant
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fiat payment rails. </p>
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</Typography>
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<Typography component="h5" variant="h5">Are there trade limits?</Typography>
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<Typography component="body2" variant="body2">
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2022-01-15 10:21:36 +00:00
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<p>Maximum single trade size is 500,000 Satoshis to minimize lightning
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routing failures. This limit will be raised as the Lightning Network
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matures. There is no limits to the number of trades per day
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or number of simultaneous Robots you can use. </p>
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</Typography>
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<Typography component="h5" variant="h5">Is <i>RoboSats</i> private?</Typography>
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<Typography component="body2" variant="body2">
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<p> RoboSats will never ask you for your name, country or ID. For
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best anonymity use Tor Browser and access the .onion hidden service. </p>
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<p>Your trading peer is the only one who can potentially guess
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anything about you. Keep your chat short and concise. Avoid
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providing non-essential information other than strictly necessary
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for the fiat payment. </p>
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</Typography>
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<Typography component="h5" variant="h5">What are the risks?</Typography>
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<Typography component="body2" variant="body2">
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<p> This is an experimental application, things could go wrong.
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Trade small amounts! </p>
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<p>The seller faces the same chargeback risk as with any
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other peer-to-peer service. Paypal or credit cards are
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not adviced.</p>
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</Typography>
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<Typography component="h5" variant="h5">What is the trust model?</Typography>
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<Typography component="body2" variant="body2">
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<p> The buyer and the seller never have to trust each other.
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Some trust on <i>RoboSats</i> staff is needed since linking
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the seller's hold invoice and buyer payment is not atomic.
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In addition, disputes are solved by the <i>RoboSats</i> staff.
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</p>
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<p> While trust requirements are minimized, <i>RoboSats</i> could
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run away with your satoshis. It could be argued that it is not
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worth it, as it would instantly destroy <i>RoboSats</i> reputation.
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However, you should hesitate and only trade small quantities at a
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time. For large amounts use an onchain escrow service such as <i>Bisq</i>
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</p>
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<p> You can build more trust on <i>RoboSats</i> by <a href='https://github.com/reckless-satoshi/robosats'>
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inspecting the source code </a> </p>
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</Typography>
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2022-01-15 14:22:07 +00:00
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<Typography component="h5" variant="h5">What happens if <i>RoboSats</i> suddenly disapears?</Typography>
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<Typography component="body2" variant="body2">
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<p> Your sats will most likely return to you. Any hold invoice that is not
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settled would be automatically returned even if <i>RoboSats</i> goes down
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forever. This is true for both, locked bonds and trading escrows. However,
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2022-01-15 10:21:36 +00:00
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in the window between the buyer confirms FIAT SENT and the moment the
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seller releases the satoshis, the fund could be lost.
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</p>
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</Typography>
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<Typography component="h5" variant="h5">It <i>RoboSats</i> legal in my country?</Typography>
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<Typography component="body2" variant="body2">
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<p> In many countries using <i>RoboSats</i> is no different than using Ebay
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or Craiglist. Your regulation may vary. It is your responsibility
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to comply.
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</p>
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</Typography>
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<Typography component="h5" variant="h5">Disclaimer</Typography>
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<Typography component="body2" variant="body2">
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<p> This lightning application is provided as is. It is in active
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development: trade with the utmost caution. There is no private
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support. Support is only offered via public channels <a href='https://t.me/robosats'>
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(Telegram)</a>. <i>RoboSats</i> will never contact you.
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<i>RoboSats</i> will definitely never ask for your user token.
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</p>
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</Typography>
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</DialogContent>
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</div>
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)
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}
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}
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