I’m BTC seller as taker (selling BTC for fiat), the current status is waiting for buyer to start the payment.
24 hours after starting the transaction, I ask buyer if they have sent the payment via chat, no response.
It is now 48 hours after initiating the transaction. No payment and no response from the buyer.
“Remaining time” is displaying as 6 days.
I’ve not experienced this before, so I’m checking I understand the next steps;
Wait for 6 days. If no response, open mediation.
If buyer is still unresponsive, wait another 14 days (20 days from trade initiation BTC for fiat) for arbitration.
In this situation, where the buyer is completely unresponsive, will the mediator suggest that I receive 100% of their security deposit?
If it ends up going to arbitration because the buyer doesn’t agree or respond, would I receive 100% of their security deposit?