Bisq has rules in place to make the trading process as safe and convenient as possible for all parties involved, and it is important those rules are followed by users.
Penalties are a percentage of the trade amount, deducted from the offending peer's security deposit and offered as a compensation to the other peer during the dispute resolution process.
The actual penalty will be up to the values detailed below, depending on security deposit % and mediator's discretion, except for 100% penalties, that refer to serious violations and will always imply losing the whole amount (trade + deposit).
Alternatively, if good communication is established, peers can use trader chat to agree on a penalty amount to relay to their mediator.
Buyer or Seller | |
---|---|
100% | Fraud attempt: debiting of peer's account, code tampering |
25% | Not responding to a mediator within 48h |
20% | Cancelling a trade |
20% | Requesting that payment be made from/to a different account name, without mediator's acknowledgement |
10% | Requiring personal data: ID, home address, etc. (Bisq should incentivize accounts that do not ask for any more info than necessary) |
Buyer | |
---|---|
100% | Payment chargeback |
25% | Bitcoin-related payment references (eg. BTC, Bisq, Bitcoin...) |
25% | Paying from an account with a different name (Name Surname instead of Surname Name, and/or slight variations are allowed, where they do not generate ambiguity), seller is allowed to cancel the trade with no penalty |
20% | Payment is 72+ hours late |
15% | Payment is 48-72 hours late |
15% | Paying from an account with same name but different account number, seller is allowed to cancel the trade with no penalty |
10% | Payment is 24-48 hours late |
10% | Similar, but wrong, payment method (eg. SWIFT instead of SEPA, SEPA instant instead of Wise...) |
10% | Wrong payment amount: buyer has the option to correct the amount within the trade window, seller is allowed to cancel the trade with no penalty |
10% | Using unagreed payment reference |
10% | Late payment because of low fee for altcoin tx; penalty can be reduced during mediation if buyer uses RBF or similar |
5% | Payment is up to 24 hours late |
Seller | |
---|---|
15% | BTC is released outside of trade window |
Yes, I think it should be removed. If disruption is caused to a trade it will likely be cancelled or late. Both are covered in the other penalties. If the Bug was a fault of Bisq eg Bug / a node being down etc then the user should not be punished.
👍
I think it is ok as per current trading rules: https://bisq.wiki/Trading_rules#Do_not_change_payment_details_once_trade_is_in_progress
"Once the deposit transaction is published, the trade is in progress, and its terms cannot be changed. The seller had agreed to be paid as specified in the trade contract. In the event of an unexpected circumstance (e.g., hitting a bank-imposed transfer limit), seller can propose alternatives through trader chat or mediation, but buyer is not required to comply. It is the seller to ensure that the payment account in their offer will work before an offer is taken."
My opinion is that a user should not be penalized according to the change of price of BTC. They should be penalized according to how late they were sending the fiat/altcoins or releasing the btc. This is because price is volatile and can change throughout trade/mediation period. Bisq should incentivize sending payment as soon as possible and releasing btc within the trade window. Also from a mediation perspective I would rather not look at price charts and instead just review the time payment was made. @MwithM what are your thoughts on this?
Most of the mediation cases regards late payment are the BTC Buyer not sending the funds. They can send it any time during mediation and should be incentivized to do so as early as possible.
Late release by BTC sellers is a little more problematic in that btc cannot be released when mediation has started. But it is much less common an occurrence in mediation. Maybe late release should be a fixed amount and late payment be variable?