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robosats/.github/ISSUE_TEMPLATE/bug_report.md
Reckless-Satoshi 2e3a32705b
Add concept for BTC <> Fiat p2p swap using Lightning. 
- Motivation
    1) It is widely recognized that one of the main attack vectors for the Bitcoin network is the ability of states to control the fiat on/off-ramps.
    2) While there exists peer-to-peer alternatives to centralized exchanges, these are rather technical, slow and more costly.
    3) Most users prefer the convenience of a centralized exchange at the cost of a difficult of the risk for their privacy and a difficult initial setup (ID, selfie-video, etc).

- Opportunities
    Using the Lightning Network and hodl invoices it is possible to create a more user friendly, faster and cheaper peer-to-peer market. This vision was first enacted by @grunch on the p2plnbot telegam bot project.

- Challenges
    1) Ideally the seller hodl invoice and the payment to the buyer invoice would be atomic. Given that this is not technically possible, the proposed concept relies on the need of trust on the service provider.

There are reasons to believe that challenging centralized solutions both in user experience and cost is possible.

This commit adds a rough concept for thefrontend, backend and design.
This project, tentatively named RoboSats (short for Robotic Satoshis) and licensed at launch under AGPL3.0.
2022-01-01 07:28:49 -08:00

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