[bisq-network/proposals] Replace burningman and refund agent by market place based solutions (#259)

chimp1984 notifications at github.com
Fri Nov 13 15:32:22 CET 2020


We have quite a few cases where sellers do not respond and release the BTC. They loses the sec. deposit which is often quite a lot of money (there are some 2 BTC XMR trades with that issue, so they lose > 1000 USD). We don't know and understand whats the reason for that, but it would be worse with a pure MAD system as those buyers would then all end up with nothing and the seller would even get back their trade amounts later.

It might be that we will make some experiments with MAD with some new payment methods (Cash by mail) as those cannot be meaningfully verified by a mediator/arbitrator. So that would give us some experience how well or bad MAD will work, though it has to be taken with care as if it has not scaled up it does not mean too much if it was not abused - scammers come with scale/volume.

But as pure MAD is not used as far I know in any platform I doubt it would work if scaled up (scammers will come later once enough potential victims are there). Most other platforms use reputation as a primary "protection" even it is very flawed it is better than nothing... Also most other platforms have much higher fraud rate as far I heard (not investigated myself, and of course I am biased ;-)).

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