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

pazza notifications at github.com
Tue Mar 23 01:05:00 CET 2021


I think a long term solution is needed. 

When limits were set at 100 USD mining fees as a percentage to BTC trade amount where a lot lower.

>From my perspective an initial 0.0025 max limit seems low for unsigned accounts when accounts that do not require signing can trade immediately at 0.25 BTC levels. This is a 100 fold increase. To me this seem disproportionate. 

If we do nothing and BTC price doubles in 6 months the limits for unsigned accounts would be closer to 1000 USD.

If we reduce the max trade amount for unsigned accounts to 0.0025 BTC and BTC price doubles in 6 months (and mining fees stay the same or rise) the premium to buy 0.0025 BTC could rise to 50-70%.

Neither of the above options is good, but one or the other is a likely scenario.

Buyers are sensitive to price premiums. 50-70% premiums would lead to a minority of new users trading with signed accounts.

If signing is needed for accounts where there is a higher risk of chargeback we should reconsider their inclusion in Bisq, or only allow trading with them if the users are made aware of the possible risks.

Proposals to reduce network fees will really help but they might not arrive before BTC prices force one of the above scenarios.

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