So, in #bisq, what happens when the transaction window ends before the seller releases the money but after the buyer sends fiat?
#asknostr
Discussion
Anyone know for #haveno too?
The fiat is sent to escrow, no? Presumably it gets returned to the buyer if the trade fails.
No, the sats are in an on-chain escrow 2of2 multisig wallet. The fiat would be in his/her account.
Never happened to me, but based on what I’ve read in the docs, nothing really happens with the coins in the escrow. You have to open a dispute.
Okay.. That's what I understand. But seller could refuse to release sats forever as he's the one with the keys.
With the second set of 2of2 keys, that is
After 20 days the funds in the escrow goes to the “donation address” and you can get the coins back via arbitration
That's pretty cool. Still a hassle. I hope I never need it. 😅
Nothing will happen automatically.
A button to "open mediation" will appear though, which the buyer can press, so a dispute is started after which most likely the mediator will suggest that the btc seller pays a penalty to the buyer, for late release.
There is an edge case, where the buyer sent for example a sepa payment very close to the trade period end, at which point the seller is entitled to at least a few days of delay to get outside of the chargeback window.
In that case the seller cannot be penalized for a "late release", as the liability is with the buyer not having sent fiat asap.
I would argue that a buyer sending a sepa payment very close to the trading period end, that arrives past that limit, or just barely within in, could be penalized for late payment.
Thanks for the info.. It's all just in case, things are going smoothly so far