Created a buy offer for .06 BTC using Zelle with a 50% deposit. Peer accepted the offer. I sent payment and clicked payment started. The “Payment started message status” currently shows “Message of payment sent but not yet received by peer”. It’s been a day and I’m starting to wonder if the other party will abandon the trade. It might be too soon to tell.
I also noticed that the other party created the payment account 8 days ago and the trade size limit for new Zelle accounts is 25% for 30 days of the max trade allowed (.25 BTC). If I interpret this correctly, then new Zelle users would be able to transact up to .0625 BTC. As such, there is a much higher incentive for a new user to abandon the trade and keep the payment given how much BTC has increased in value.
Would it make sense to potentially index the max trade allowed based on the value of BTC? This would reduce the incentive for fraud as the value of BTC increases. For example, if BTC was trading at $24,000 USD and someone abandoned a .06 BTC trade with a 50% deposit, then the person making payment would lose $720 ($1,440 payment minus the .03 BTC deposit that was abandoned).