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Allow an order to remain longer than 23 hours #365

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bilthon opened this issue Mar 14, 2023 · 1 comment
Open

Allow an order to remain longer than 23 hours #365

bilthon opened this issue Mar 14, 2023 · 1 comment

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@bilthon
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bilthon commented Mar 14, 2023

Is your feature request related to a problem? Please describe.
The "problem" is that for low liquidity areas you'd want to be able to open a somewhat perpetual buy or sell orders with a high premium or discount.

The idea being that if someone needs to sell some sats because of urgent needs, there's always an opportunistic buyer willing to take the other side of the trade. Same thing with the buy side. It's never a good experience to buy/sell with large premium/discount but hey, it's worst not to have your trade done at all, right?

This is currently possible, but very cumbersome because the default order duration is set to 23 hours. Which means that if you want to do this, you have to re-create orders every day. This coupled with the fact that these opportunistic trades will not happen very often makes it for a poor UX.

Describe the solution you'd like
An order that will sit there forever is also not a good UX. These can lead to forgotten orders that clutter the order's channel. So an ideal solution to me would be to make orders last for a user-defined period of time, with a maximum duration of 1 week.

Also I'm thinking of having this be a user-defined preference that the bot could remember, so as not to add yet another parameter to the /sell & /buy commands. The default could be set for 23 hours, so this would be effectively an opt-in feature.

Describe alternatives you've considered
An alternative would be to modify the /sell & /buy commands to add a duration parameter somewhere. But like I said that will make it more complex than it already is. And if you use the wizard it too would have to be modified and the extra (duration definition) step would probably be an annoyance to most users.

Additional context
@grunch mentioned that a limitation that currently prevents this feature to be implemented is that telegram keeps the message id around for at most 24 hours. And if after this interval the order is not taken, the bot can no longer remove the message from the channel.

I believe a workaround for this limitation could be to make the bot automatically remove and recreate (effectively renewing) these long-duration orders. This would add a bit more complexity, but since this is an opt-in feature it would only apply to those orders that chose a longer-than-default duration.

I'm also not completely sure this will work though, any thoughts?

@grunch
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grunch commented Mar 22, 2023

Yes, this could be done, but I think we need to complete other priority issues before address this, I think we can create some kind of issues dashboard with a queue and to be done

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