Yesterday I’ve upgraded Bitsq and with the raised limitations, now I can’t use any payment method except p2p. My accounts are a older then 30 days, but still after 1st of March 2019.
I agree that there should be a way to limit the scammers, but the taken approach seems to create a lot of false positives among the new users - basically each one of us. This is definitely discouraging not only for the scammers.
It seems I can not find a new limitation, period set, which makes me think that the restrictions are set for good or at least until the new release, which is not clear when will it happen. Is it true?
So It would have been great if a user, without much credibility was offered more options:
- The already implemented one: (Fast but can buy limited bitcoin amount)
- A second option may be the bitcoins to be released after the chargeback period expires(Slow but without buy limitation). The bitcoin seller wouldn’t loose anything, and the bitcoin buyer agrees to wait a bit longer to get the bitcoins.
What do you think?
You should still be able to use any payment method, but only with a limit of 0.01 BTC per trade.
New release should be out in about a month or two. Hopefully that will protect us enough while still raising the limits.
There are multiple proposals at Issues · bisq-network/proposals · GitHub. Feel free to join the discussion there if you are interested
Thanks for the reply @alexej996
Sure I can still buy crypto currency, but the limit puts 99.9% of the trade offers out and only if there is any offer which falls within the boundaries, which is practically the same as forbidding the trading for new users.
I’ve checked the discussion how you’re planning to deal with scammers and there were ideas which if combined would do the job. So I hope the situation will be handled faster. My point is to shift a bit the mindset and make the system a bit more open and give the new users more options to prove credibility and gain reputation.
Until then it fills a bit disappointing, that the service is for the chosen few and you’re handling the problems like our comrade Josef Stalin:
“When there’s a person, there’s a problem. When there’s no person, there’s no problem."
If there aren’t any offers that you can take, it is possible to create your own offer, if you have time to wait for the right taker
Yes, hopefully there will be better solutions soon.
I’d like to add that with the 0.01 limit and high mining fees, the experience is greatly blemished.
Right now mining fees are 7.54% of a 0.01 trade which is discouraging (new) people to trade.
For me it’s actually a lot worse, mining fees account for close to 20% of a 0.01 trade. This is ridiculous and I see no futur for bisq with such way of thinking.
Also, I don’t get how with a <30d old fiat account I can make offer up to 0.0625 BTC but only take offer of 0.01. Makes no sense to me, especially when am offering BTC since I’d be the one who need to be protected and not limited.
bisq is completely useless.
It is a temporary measure used in this release only. You will need to be patient for the next release in couple of months to get some new security features in place.
Altcoin trading, which makes 90% of the volume on Bisq is unaffected. Plus anybody with an account made before 1st of March experiences the same fiat trading as before.
Currently, due to some bad actors, new users experience low per trade limits. Still usable in my opinion, but definitely not for everybody.
Well, I thank you for trying to explain.
Have to disagree though.
If Bisq is mostly about altcoin trading, I just don’t see the point of the whole project.
From FAQ: “Currently no other project fits our definition of a decentralized bitcoin-to-fiat exchange.”
And if Altcoin account for as much as 90%, it might be because fiat-btc trading is unusable, and not because users want mostly trade alts !
If paying 20% fee for a 0.01 btc trade is “still usable”, I’d like to know how many of those you’ve personnaly carried out. It’s quite easy to theorize but you may thing otherwise when it’s your own money at stake.
So if I get it right, Bisq is only for people who opened fiat accounts before March 1st. That’ll just create a very tiny close community.
Sad really, I thought that was an interesting project but those so called security measures are just killing it for me and guessing for many others as well
And not to mention that Bisq is freeze my macbook pro every 2 min !
Interesting but really in a early beta stage, you guys should mention it before people use it with actual money.
It isn’t easy to trade fiat safely. That is the problem Bisq is trying to tackle. It isn’t easy of course and everybody is welcome to join the discussion about it of course. It is an open source project after all and we should all chip in to best of our ability.
The bug about Bisq freezing sounds like a serious bug that should be reported on GitHub issues.
Bisq is a relatively young project, but it has been used with real money for years now without any loss of coins. Developers tend to take these things very seriously, but unfortunately there is still very few of them. We always needed more devs and if you know any experienced Java devs, you can let them know that Bisq could use their help.