I see that my cryptocurrency to cryptocurrency trade period is 1 day. It can happen that my cryptocurrency payment (made to the wallet of other user) is not confirmed during that 1 day period. So what happens next?
The tooltip says that when the period is exceeded, both parties can open a dispute. But that does not give me any idea about how this is handled and what are the risks. I am unable to find the answer at https://docs.haveno.exchange/the-project/trade-protocol/?query=trade+period
4 Comments
monerobull@monero.town · 3 pts · 1y
Pay enough fees to make sure the payment is confirmed in time. Because of RBF you can't make the argument that a Bitcoin payment has "started" as soon as it is in the mempool. You can be penalized up to 10% of the trade amount for being 24-48 hours late.
hetzlemmingsworld@lemmings.world · 1 pts · 1y
Thanks ♥️, RBF means likely Replace By Fee which is the way to send TX again with a different fee, causing initial TX replacement. Unfortunately it looks like my Electrum BTC wallet does not have this feature (maybe because i have used "coin control" to select outputs for the payment?).
I assume that when you are linking to a Bisq page while we are talking Haveno, the Haveno is using Bisq penalties? https://docs.haveno.exchange/ does not seem to list any table of penalties.
xmr_unlimited@monero.town · 2 pts · 1y
Well you see.. Haveno is a fork of bisq which has been running for a lot longer and has more documentation. Many things are similar. Important things have been improved vastly imho
tusker@monero.town · 1 pts · 1y
Avoid BTC, transactions are unreliable on this network. Best to go with Bitcoin Cash (BCH) where next confirmation is guaranteed due to proper engineering.