Bisq

25 July 2023 17:41

That mechanism exists. So why not still compensate the trader with the penalty?

Bisq

25 July 2023 17:09

Ah well, got my Bisq later on connected to another network, now it finished trade itself easily without I had to do anything.

Bisq

25 July 2023 16:26

that is the suggested approach, not 100% needed but the buyer still used a different account. If you can get a reasonable explanation in trader chat and feel you can trust the peer, you can just release the BTC,after all the name is the most important detail. Otherwise yes, you can open mediation with Ctrl-O from trade panel

Bisq

25 July 2023 15:39

Could someone help me out, I’ve got a 4/4 Initial Data received bug…, I received Onchain BTC after a trade but the trade doesn’t show as completed

Can that happen cause I only got yellow connection?

Bisq

25 July 2023 15:01

Ok, so.. there isn't really a difference between getting the value BMs receive (fees, delayed payouts) to contributers and traders who've lost funds due to Bisq bugs, and getting value from the BMs to traders who've had trades go to arbitration for their compensation.

Bisq

25 July 2023 14:55

Accepting instant traders is an option, alongside security deposit.
https://bisq.wiki/Security_deposit

Bisq

25 July 2023 14:53

You can wait forever to your peer to sign the release of the funds, nobody forces you to open arbitration.

Bisq

25 July 2023 12:50

Does this then means that in that scenario where I accepted the proposal there is nothing else to be done?
I won’t be able to request the penalty I would be entitled for. Correct?

Even if the peer takes until the last possible second to release the coins?

Bisq

25 July 2023 11:54

Unresponsive trader loses the whole deposit in arbitration, I would say that is incentive enough not to disappear. The higher the deposit%, the more peers are incentivized to follow through

Bisq

25 July 2023 11:51

Ping, the dynamics are no different are they?

Bisq

25 July 2023 11:44

Some may be happy to not get any compensation, but for anyone doing regular trading having BTC locked up for 2 to 4+ weeks has an actual cost. Even before considering market movement.

Bisq

25 July 2023 11:42

YMMV, but - other than for trivial trade amounts - given the table of penalties doesn't go past 25% other than for probable attempted fraud or actual fraud (which I think pretty much never happen on bisq?), there isn't really anything gained from >25% deposits.

Bisq

25 July 2023 10:40

The only reason I can think of not to take the highest security deposit is if I don’t have enough balance in my Bisq wallet for it.

Bisq

25 July 2023 10:38

if your peer doesn't respond within 48hrs, you are entitled to a compensation, yes, but in that case contact the mediator first. Rejecting the proposal is rather needed when, after 20 days have passed since the trade started, the peer is not responding and you want to proceed to arbitration

Bisq

25 July 2023 10:18

I’m not sure if that is true. Personally, all else equal, I am always taking the highest security deposit offer. That is what keep both traders honest during the trade.

Bisq

25 July 2023 17:39

There exists a mechanism for the value of funds that go to the BM addresses to be transferred to other roles in the DAO, including roles responsible for compensating both contributors (for work) and traders (e.g. for funds lost due to bugs).

Bisq

25 July 2023 16:27

BMs get value because they actively burn their own BSQ. Traders do no burn their funds.

Bisq

25 July 2023 16:24

that shouldn't be the cause, no. If the trade is effectively completed though, and it's the only open trade you have, the workaround is to close bisq, and rename the file btc_mainnet/db/PendingTrades to PendingTrades.old, the trades panel will be empty once again

Bisq

25 July 2023 15:02

The mechanism is there.

Bisq

25 July 2023 14:58

I get it's an incentive, yet it happens. For whatever reason - quite possibly due to tech issues, .e.g wiped computer or disk failure and no backups -> loss of bisq state. I've had a number of trades go to arbitration since the new protocol, all but 1 were traders disappearing.

Bisq

25 July 2023 14:54

https://bisq.wiki/Dispute_resolution#Level_3:_Arbitration

Bisq

25 July 2023 14:31

Hey, if the price is fixed in the trade and the buyer's transfer is made on Friday evening (worst case example), but the money arrives at following tuesday at the seller's account, it's a big problem if the Btc price has fallen sharply by then. How can sellers protect themselves against this? Only accept instant transfers?

Bisq

25 July 2023 12:44

Really?
I thought that there was a decline option after one had accepted the proposal.

Bisq

25 July 2023 11:52

Fees are received by the BMs, yes

Bisq

25 July 2023 11:46

If I have to lock up 17.5% BTC to get 3% compensation after 4 weeks, I'd prefer to just lock up 3%.

Bisq

25 July 2023 11:43

For larger trades, you don't really need more than 15%, except of course now we do cause 15% == 0% for the trader ultimately.

Bisq

25 July 2023 11:37

If you need to take multiple offers, and more offers again after that, you will want to minimise how much gets locked up in security deposits. If you need to sell X BTC then lower security deposit offers let you get the job done more quickly.

Bisq

25 July 2023 10:39

Once accepted, the proposal gets the 1of2 required signature, and there is no way to back off: if your peer signs the second signature, mediation suggestion will be accepted.

Bisq

25 July 2023 10:36

One last question I forgot to ask yesterday.

If the mediator creates a proposal, I accept it and 48h goes by without my peer reacting, how should I proceed?
I know I should message the mediator, however, can I also reject the proposal at that point, since I will then be entitled to a 25% compensation for the miss behavior of the other peer?

Or will I be penalized for behaving like that?

Bisq

25 July 2023 06:35

The biggest reason to limit the range offer to 50% was to avoid amount in arbitration from sec deposit exceed the trade amount.