This looks like a big step towards both the promise (and the danger) of crypto currency. If trusted third parties really are security holes it could be a big step forward. I think I would be more inclined to trust a distributed system like this than I would a centralised exchange.
But at the same time I think there is a scent of danger here. Rather than trusting a server with your data, you’re trusting software to run on your computer. Open Source, fully audit-able, software, granted.
Then there’s this:
Bisq is for those who do not want to forfeit control or privacy to a central authority in order to trade with other individuals. We regard financial transactions as a form of private speech that should be protected from surveillance by banks, governments, and other institutions.
Something tells me that a lot of governments are going to disagree with all or part of that statement…
That’s the limit of my negativity for this project, though. I might give it a try, after a little bit more research.