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0 sats \ 1 reply \ @thrown 17 Feb 2022 \ parent \ on: Robosats: A P2P Fiat-to-Bitcoin Trading Site with Lightning Support bitcoin
he didn't send the right amount to my bitcoin address
Yes and what happens in that scenario? Nothing really, right?
It’s not like RoboSats is reimbursing people for damages.
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4 sats \ 0 replies \ @supertestnet OP 17 Feb 2022
Yes and what happens in that scenario?
If he agreed to send $50 in bitcoin to the other guy's bitcoin address and doesn't do it, the cheater loses his collateral (1% of the trade) because robosats keeps it instead of returning it to him, and robosats also uses the lightning network to return the $50 in escrow to the cheated party. Which means the cheater doesn't gain anything and loses 50 cents (1% of the $50 at stake).
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