Grin market - people abusing Bisq, treating offers like "options" amid big price changes?


#1

My first trade on Bisq went smoothly, and then I made another successful trade with the same person. However, my next two trades haven’t gone so well. I had an offer to buy Grin (sell btc) for 0.0015 btc per grin. Someone accepted my offer, but over the next 24 hours, they never sent me the grin. In that time, the price of grin roughly doubled. I have a dispute pending.

Today I took an offer to buy some grin for 0.0030 btc per grin, and several hours have passed without payment. I can see the same seller updating the price on their offers, so they are awake and active. And again the price is rising.

This is only 2 datapoints, but it appears that some people are using bisq as cheap “options” to sell grin at a given price. If the price rises, they just don’t deliver the grin and lose the security deposit, which is cheaper than delivering the grin as agreed. And they are allowed to keep offering grin. If the price drops, then they just deliver the grin. So either way they win.

Is anyone else seeing this behavior? Is there a solution to this?


#2

Holding a trade, waiting for the market to move for/against your position is a dick (no disrespect to anyone taking offense to this term) move.

That being said, the utility of Bisq far outweighs this annoyance. I think the issue is a function of asset volatility and the fee that the unresponsive trader must pay. The Bisq DAO is evaluating the fee model now, and I agree, unresponsive traders should pay more for your inconvenience.

Bisq allows the maker to create the security deposit required to select your offer. Experimenting with the fee threshold that dissuades this kind of dick from engaging in their ‘option’ trades would be interesting.


#3

If you are trading an especially volatile coin, you should only create offers with big security deposits that can cover your loses.

Feel free to require twice the usual amount of a security deposit to trade and only take offers that do so as well.