[bisq-network/proposals] Reduce maximum trade size for unsigned payment accounts (#322)

pazza notifications at github.com
Wed Mar 17 02:56:30 CET 2021


I worry about the negative user experience impact decreasing the trade size for unsigned accounts will have.

My assumptions are:

- Unsigned accounts accounts will likely be accounts of new users
- New users are more likely to 'take' offers rather than 'make offers' at least initially
- Taking offers requires 3 transactions (roughly 3 times mining fees)

Based on the table below average sats/vb fees result in a fee of approximately $8.33 per transaction. This would be result in a $25 for taking an offer of 0.0025 BTC (currently $140).  Therefore as a percentage of the trade amount this is 17.9% of trade amount.

Now assuming the maker of the offer is also going to have to pay $8.33 mining fees to make the offer. I would expect a premium of 20% would be about average. 

So now a new user will be spending $25 + premium of $28 to acquire $140 worth of BTC. 

These fees totaled represent 34.3% of the trade amount.

I think this will make new buyers give up on Bisq before they become signed.

![fees](https://user-images.githubusercontent.com/66367547/111400360-11c60e00-86bf-11eb-81a9-96e22858cc66.png)
Ref: https://privacypros.io/tools/bitcoin-fee-estimator/

To run the numbers with the current trade limit of 0.01 BTC for comparison.

$25 for taking an offer of 0.01 BTC (currently $560). Therefore as a percentage of the trade amount this is 4.5% of trade amount. 

Buyer premium of approx. 10%

So with 0.01 BTC a new user will be spending $25 + premium of $56 to acquire $560 worth of BTC. 

These fees totaled represent 14.5% of the trade amount.

This is still high but a lot more workable.



I share the concerns with risks associated with increased prices for 0.01 BTC, is there a way of reducing these risks in a way other than decreasing limits for account signing?

Maybe there could be other ways to achieve account signing eg:

New users take offers of fixed price of $100 or equivalent from bonded sellers, thus reducing the need for security deposit, BTC transfer can be done without multi-sig requirements.

Following this trade the 30 timer would start reducing the ability of fraudster that has temporary access someone else's account.




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