Merge pull request #175 from m52go/updates-for-ntp

Edit docs to reflect new trade protocol

archive.adoc

@@ -5,3 +5,4 @@
  * <<dao/specification#, Bisq DAO technical spec>>
  * <<exchange/howto/add-alternative-base-currency#, How to add an alternative base currency>>
  * <<manual-dispute-payout#, How to issue a manual dispute payout>>
+ * https://docs.google.com/document/d/1DXEVEfk4x1qN6QgIcb2PjZwU4m7W6ib49wCdktMMjLw/edit#heading=h.4nbd0q1s77uq[Bisq arbitration and mediation system] (GDoc)

getting-started.adoc

@@ -150,7 +150,7 @@ Bisq will tell you the address of the trade wallet and exactly how much to send
 [NOTE]
 .A multisig escrow transaction? How does that work?
 ====
-Bisq never takes custody of users' bitcoin or national currency funds—indeed there is no way it could, because Bisq is just software, not a company. The "escrow transaction" mentioned above is a _smart contract_—specifically a 2-of-3 multisignature Bitcoin transaction involving you, the seller, and a https://bisq.network/faq/#how-arbitration-works[bonded arbitrator^]. You can read more about multisig wallets https://en.bitcoin.it/wiki/Multisignature[here^].
+Bisq never takes custody of users' bitcoin or national currency funds—indeed there is no way it could, because Bisq is just software, not a company. The "escrow transaction" mentioned above is a _smart contract_—specifically a 2-of-2 multisignature Bitcoin transaction involving you and the seller. You can read more about multisig wallets https://en.bitcoin.it/wiki/Multisignature[here^].
 ====
 
 [sidebar]

index.adoc

@@ -83,7 +83,6 @@ image::quick-link-4.png[alt=Make a Compensation Request,width=200,role=quick-lin
 == Specifications
 
  * <<payment-account-age-witness#, Payment account age witness specification>>
- * https://docs.google.com/document/d/1DXEVEfk4x1qN6QgIcb2PjZwU4m7W6ib49wCdktMMjLw/edit#heading=h.4nbd0q1s77uq[Bisq arbitration and mediation system] (GDoc)
 
 == Archive
 

intro.adoc

@@ -59,8 +59,8 @@ These and other differences result in a key tradeoff for Bisq users--one in whic
 
  - Bisq is *entirely non-custodial*; users stay in control of fiat and cryptocurrency funds
  - Trades include *security deposits* from buyer and seller to prevent fraud
- - Trading funds and security deposits are locked in a *2-of-3 multisig escrow*
- - Disputes are handled through a *decentralized human arbitration system*
+ - Trading funds and security deposits are locked in a *2-of-2 multisig escrow*
+ - Disputes are handled through a *decentralized human mediation and arbitration system*
 
 === How Bisq keeps data private
 

user-dao-intro.adoc

@@ -83,13 +83,14 @@ In this way, there is no need for a central entity to collect and distribute rev
 
 NOTE: The Bisq DAO does not _require_ traders to use BSQ for trading fees. They're free to pay trading fees directly with BTC, but they will pay higher rates than if they bought BSQ with BTC and paid with BSQ instead.
 
-
 [sidebar]
 .Note on BTC revenues
 --
-Currently, Bisq only collects trading fees in BTC, and these fees only go to arbitrators. There is no mechanism to distribute them to other contributors. The DAO solves this distribution problem with BSQ through the process outlined above. But since traders will also be able to pay fees with BTC when the DAO goes live, where will those BTC fees go then?
+In the past, before the Bisq DAO launch and before the integration of Bisq's new trade protocol, trading fees were only collected in BTC and only went to arbitrators. There was no mechanism to distribute them to other contributors. The DAO solves this distribution problem with BSQ through the process outlined above.
+
+But since traders can still pay trading fees with BTC, where do those BTC fees go?
 
-For a little while, they will continue going to arbitrators. But shortly after the DAO launches on mainnet, Bisq will implement https://github.com/bisq-network/proposals/issues/52[a new trading protocol^] that removes arbitrators, and BTC fees will be sent to a "donation" address determined by DAO voting. This BTC could then be used to buy BSQ on the market to distribute the fees to stakeholders, and the BSQ obtained https://github.com/bisq-network/proposals/issues/55[will be burned^].
+BTC fees go to a bitcoin "donation" address held by a https://github.com/bisq-network/roles/issues/80[bonded contributor^], who uses the BTC to buy BSQ on a regular basis to distribute the BTC fees to stakeholders, and the BSQ obtained https://github.com/bisq-network/proposals/issues/55[is burned^].
 --
 
 === Determine strategy