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An interesting thing happened on the btc P2P exchange Robosats recently...
614 sats \ 7 comments \ @Signal312 12 Apr bitcoin
There had been an issue in the past few months on Robosats, where apparently one (or more) of the bitcoin sellers was "squatting" on the offers of the other sellers. This seller would have bots "take" the offer of other sellers, but then sit on that for as long as possible, without placing a bond, to make the competitor's orders invisible.
Here's a comment from the coordinators, from a few months ago with more details:
He just uses a script and create multiple robots to take any time with different identities orders in loop without paying the bond and effectively hiding competitors orders.
Anyway, seems like that was solved, because the buy premium previously was solid at 2% (for Strike, anyway). And now it's down to 1.92%.
It's always good to see that competition works!
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0 sats \ 6 replies \ @siggy47 12 Apr
I wonder how they resolved it? Maybe a timer requiring buyer to post a bond within x minutes? I just tried it manually. It seems you can still do it, unfortunately.
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36 sats \ 5 replies \ @Signal312 OP 12 Apr
Really? I went looking for the original issue on telegram and couldn't find it, but I assumed it was resolved because I didn't anything else on it (not that I'm on the groups much) and also...just because the fees dropped to what seemed like normal, variable levels, and not always a solid 2.0%
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34 sats \ 4 replies \ @siggy47 12 Apr
Here's what I did: I created a robot. I accepted a seller's offer. I did nothing once the qr code appeared. I checked the open offers page and it wasn't there.
Now, I got bored pretty quickly and deleted the robot. Maybe you can only use this delaying tactic for a short period of time? I don't know.
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36 sats \ 3 replies \ @TempleOfSats 13 Apr
Here's what I did: I created a robot. I accepted a seller's offer. I did nothing once the qr code appeared. I checked the open offers page and it wasn't there.
Now, I got bored pretty quickly and deleted the robot. Maybe you can only use this delaying tactic for a short period of time? I don't know.
It should just keep the order public until any taker lock the bond. Please contact your coordinator if you notice such behaviour again!
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0 sats \ 2 replies \ @siggy47 13 Apr
Yes. This makes perfect sense. Is this a new policy that was implemented as a result of the situation described by the OP? It seems like an obvious solution. I can't believe it always hasn't been this way.
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36 sats \ 1 reply \ @TempleOfSats 14 Apr
Yeah, there was one user that attacked the orderbook by hiding orders similar to his. He used a script that created new robots and took orders in a loop without paying the bond.
I say one user, because the currency, payment method and amounts hidden were always the same.
Since version 0.7.5 this attack does not work anymore since the orders remain public until the bond is payed.
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