[bisq-network/proposals] Replace the role of Refund Agent with a new team of Arbitrators that can together publish one of several pre-signed 2 of 2 multisig timelocked payout transactions as proposed by a Mediator (#220)

MwithM notifications at github.com
Wed May 6 21:57:09 UTC 2020

This proposal has potential to improve a lot of things from the current trading protocol and the only thing I dislike is that it has been seriously considered after acknowledging that refund agent does not scale. I have question and 2 possible improvement proposals.

Arbitrators will demand evidence to traders or that task should be done exclusively by mediator? What should arbitrators _verify_ and what channel will be used for that?

> These payout TX will have a locktime of double the soft time limit for the applicable time limit, for example in the event of a BSQ trade which is 24 hours, this time limit would be 48 hours, allowing mediation to begin after 24 hours and arbitration to be completed after 48 hours.

I think time limit doesn't necessarily need to be the double for all payment methods. Altcoin instant have 1 hour trading period and SEPA has 6 days. Responding in 2 hours is too little for the first payment method, and 12 days is too long for the second.
A reasonable time for altcoin instant would be 12 hour (although maybe still not realistic) and 2 or 3 more days for SEPA would be fine.
Anyway, it would still a great improvement from the current situation.

I would add one more payout scenario, which might be infrequent but possible: both traders are dickheads: Bisq should penalize both of them when none of the parts has shown any will to reach an agreement, responded messages late or, in general, have infringed trade protocol in a certain way.

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