[bisq-network/bisq] Add "Cash by mail" as a payment option (#1101)

chimp1984 notifications at github.com
Thu Nov 12 19:58:34 CET 2020


> I don't understand why someone would want "revenge on anyone who advertises to the public". Maybe if it was costless, but under MAD it costs the security deposit, and security deposits should be 5x or so more than the amount being traded.
> 
> For example: Alice, creates an offer to sell 0.01 BTC with 500% security deposit. Bob takes offer & pays in the same amount of security deposit (0.05 BTC). If Bob chooses to not honor the trade, he loses close to the same as Alice does (-0.05 vs Alice -0.06). If Alice receives the cash and chooses not to honor the trade, its a huge net loss for her too (-0.05 vs Bob -0.05). The key is deposits are larger than the trade amount. They are incentivized to behave - you can't go round scamming people if you lose that much capital each time.

Yes I agree if MAD is used it has to be rather high. Also trade amounts should be rather low otherwise its more attractive to scammers (specially for using fake money and getting the btc). The blackmail risk has to be considered as well. There is always someoen who has more to lose, initially the seller, once the fait is transferred the buyer. So the other party could say lets make a new payout where i get half of the trade amount otherwise your (and mine) funds are locked forever or donated to Bisq. The higher the deposit in ration to the trade amount the lower the risk for that.

Another thing to consider it that we do not want payment methods which would create a lot of work for mediators. Those are costs for the DAO. So if a mediator need hours to resolve a CBM trade its a big loss for the DAO. Checking a video and getting into complicate disputes where there is no clear way how to find out the truth is a recipe for endless dispute cases.

So I would recommend to make it very clear that there is no dispute resolution like with F2F and delayed payout tx goes to Bisq as donation (no reimbursement). The delayed payout tx is a bit of protection against the blackmail risk as well, as the blackmailer does cannot just try it and wait until the peer maybe accept at some point (spec. if BTC price rise a lot it might become more reasonable ot accept). The peer could publish the del payout tx after time lock and then the blackmailer has lost his deposit.

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