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Improvement suggestion for getting-started.adoc #63

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Mark-BC opened this issue May 30, 2018 · 4 comments
Closed

Improvement suggestion for getting-started.adoc #63

Mark-BC opened this issue May 30, 2018 · 4 comments
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@Mark-BC
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Mark-BC commented May 30, 2018

Since only the BTC-selling side of a BTC-from-fiat transaction is controlled/tracked by BISQ, what prevents the BTC seller from taking the fiat payment, but denying the fiat payment was ever made (ie. not registering it with BISQ) causing the buyer to get nothing and lose their deposit?

Would love to know the answer,
markbc1@gmail.com

@m52go
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m52go commented Jun 2, 2018

Hi @Mark-BC, when you enter a trade, the seller's BTC (the bitcoin being traded) is locked into the multisig wallet that holds your BTC deposit.

So the seller's BTC is on the line if they decide to be dishonest: if they choose not to acknowledge your fiat payment, they risk losing their BTC when the trade goes to arbitration.

This is mentioned in the first paragraph of step 2. Perhaps it could be made clearer?

@Mark-BC
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Mark-BC commented Jun 2, 2018 via email

@m52go
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m52go commented Jun 2, 2018

Cool! FWIW, more thorough docs for the arbitration process are on the horizon.

@cbeams
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cbeams commented Jun 2, 2018

Closing as complete (with no change necessary to the docs).

@cbeams cbeams closed this as completed Jun 2, 2018
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