Bisq – My journey through the file labyrinth
I tried installing Bisq today. I thought it would be a simple click, but it felt more like a scavenger hunt. Why do we do this? To ensure the software hasn't been tampered with. I haven't bought any sats via Bisq yet, but I wanted to share my learnings from today with you. An update will follow once I’ve successfully completed my first trade. Let's go:
1. The Three-File Puzzle
Usually, you download an installer and you’re "ready to go." Install it and you're set. With Bisq, it’s different. You don't just download one file, but three:
• The actual installer (the program).
• The signature file (the developer's digital "wax seal").
• The developer's public key (the counterpart to the seal).
2. Checking with "Kleopatra"
To verify if the seal is authentic, you need a helper tool called Kleopatra. To download this program, it’s best to check bisq.wiki. It is usually part of the "Gpg4win" package. So, what do you do with Kleopatra?
• First, you import the developer's key into Kleopatra.
• Then, you open the signature file with the program. Kleopatra automatically compares whether the seal matches the installer (Note: the installer must be in the same folder as the other files!).
• Important: In my case, it said the signature was expired. This sounds like an error at first, but often it just means the digital seal had a time limit. If you manually compare the "ID" (fingerprint) of the key with the information on bisq.wiki and the string matches exactly, everything is fine. If you’re unsure: Take screenshots of the messages and the keys on bisq.wiki and ask your AI buddy!
3. The Entry Fee for Freedom (The Deposit)
What was unclear to me at first and felt unusual: even as a buyer, you have to deposit a small amount of Bitcoin (a security deposit) on Bisq.
• This is a type of insurance to ensure both parties stick to the rules.
• So, you need a small starting balance. They say you need at least 0.001 BTC. I’ll tell you if that’s exactly right after my first trade. Of course, the rule is: always use "clean" (No-KYC) sats!
4. Your Bisq Wallet
Bisq isn't an account with a company; it's software that lives only on your computer. The Golden Rule: You get a Seed Phrase for your internal Bisq wallet. If your PC breaks and you haven't backed up these words, your deposit is gone forever. There is no customer service to reset your password or recover your account.
5. Your Bank Details
If you want to use "SEPA Instant," for example, you have to provide your bank details. The advantage of Bisq is privacy: your bank details are only stored locally on your machine. Additionally, Bisq generates discreet payment references for the transfer – this is often more private than on other platforms.
My Conclusion:
It’s a bit tedious at the start with the files and the verification. But once you’ve understood it and fought your way through the installation process and the user interface, you know: Here, I am the master of my own financial freedom.
To the Pros:
What advice can you give us "younglings"? What do you wish you had known earlier? ⚡️
#Bitcoin #Bisq #Privacy #SelfCustody #NoKYC #PlebLearning #Nostr #Zaps #EINUNDZWANZIGWrite
I tried installing Bisq today. I thought it would be a simple click, but it felt more like a scavenger hunt. Why do we do this? To ensure the software hasn't been tampered with. I haven't bought any sats via Bisq yet, but I wanted to share my learnings from today with you. An update will follow once I’ve successfully completed my first trade. Let's go:
1. The Three-File Puzzle
Usually, you download an installer and you’re "ready to go." Install it and you're set. With Bisq, it’s different. You don't just download one file, but three:
• The actual installer (the program).
• The signature file (the developer's digital "wax seal").
• The developer's public key (the counterpart to the seal).
2. Checking with "Kleopatra"
To verify if the seal is authentic, you need a helper tool called Kleopatra. To download this program, it’s best to check bisq.wiki. It is usually part of the "Gpg4win" package. So, what do you do with Kleopatra?
• First, you import the developer's key into Kleopatra.
• Then, you open the signature file with the program. Kleopatra automatically compares whether the seal matches the installer (Note: the installer must be in the same folder as the other files!).
• Important: In my case, it said the signature was expired. This sounds like an error at first, but often it just means the digital seal had a time limit. If you manually compare the "ID" (fingerprint) of the key with the information on bisq.wiki and the string matches exactly, everything is fine. If you’re unsure: Take screenshots of the messages and the keys on bisq.wiki and ask your AI buddy!
3. The Entry Fee for Freedom (The Deposit)
What was unclear to me at first and felt unusual: even as a buyer, you have to deposit a small amount of Bitcoin (a security deposit) on Bisq.
• This is a type of insurance to ensure both parties stick to the rules.
• So, you need a small starting balance. They say you need at least 0.001 BTC. I’ll tell you if that’s exactly right after my first trade. Of course, the rule is: always use "clean" (No-KYC) sats!
4. Your Bisq Wallet
Bisq isn't an account with a company; it's software that lives only on your computer. The Golden Rule: You get a Seed Phrase for your internal Bisq wallet. If your PC breaks and you haven't backed up these words, your deposit is gone forever. There is no customer service to reset your password or recover your account.
5. Your Bank Details
If you want to use "SEPA Instant," for example, you have to provide your bank details. The advantage of Bisq is privacy: your bank details are only stored locally on your machine. Additionally, Bisq generates discreet payment references for the transfer – this is often more private than on other platforms.
My Conclusion:
It’s a bit tedious at the start with the files and the verification. But once you’ve understood it and fought your way through the installation process and the user interface, you know: Here, I am the master of my own financial freedom.
To the Pros:
What advice can you give us "younglings"? What do you wish you had known earlier? ⚡️
#Bitcoin #Bisq #Privacy #SelfCustody #NoKYC #PlebLearning #Nostr #Zaps #EINUNDZWANZIGWrite
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