AdequateAlice01 wants to sell bitcoin. She posts a sell order. +
Anonymous AdequateAlice01 wants to sell bitcoin. She posts a sell order.
BafflingBob02 wants to buy bitcoin and he takes Alice's order.
Both have to post a small bond using lightning to prove they are real
robots. Then, Alice posts the trade collateral also using a lightning
@@ -51,8 +51,9 @@ export default class InfoDialog extends Component {
RoboSats will never ask you for your name, country or ID. For
- best anonymity use Tor Browser and access the .onion hidden service. RoboSats will never ask you for your name, country or ID. RoboSats does
+ not custody your funds, and doesn't care who you are. For best anonymity
+ use Tor Browser and access the .onion hidden service. Your trading peer is the only one who can potentially guess
anything about you. Keep your chat short and concise. Avoid
@@ -73,29 +74,33 @@ export default class InfoDialog extends Component {
The buyer and the seller never have to trust each other.
- Some trust on RoboSats staff is needed since linking
- the seller's hold invoice and buyer payment is not atomic (yet).
+ Some trust on RoboSats is needed since linking the
+ seller's hold invoice and buyer payment is not atomic (yet).
In addition, disputes are solved by the RoboSats staff.
While trust requirements are minimized, RoboSats could
- run away with your satoshis. It could be argued that it is not
- worth it, as it would instantly destroy RoboSats reputation.
+ Trust requirements are minimized, however there is still one way
+ RoboSats could run away with your satoshis, by not releasing
+ the satoshis to the buyer. It could be argued that such move is not on
+ RoboSats interest as it would damage thereputation for a small payout.
However, you should hesitate and only trade small quantities at a
time. For large amounts use an onchain escrow service such as Bisq
You can build more trust on RoboSats by
- inspecting the source code Your sats will most likely return to you. Any hold invoice that is not
+ Your sats will return to you. Any hold invoice that is not
settled would be automatically returned even if RoboSats goes down
forever. This is true for both, locked bonds and trading escrows. However,
- there is a small window between the buyer confirms FIAT SENT and the moment
- the seller releases the satoshis when the funds could be lost.
+ there is a small window between the seller confirms FIAT RECEIVED and the moment
+ the buyer receives the satoshis when the funds could be permanentely lost if
+ RoboSats disappears. This window is about 1 second long. Make sure to have enough
+ inbound liquidity to avoid routing failures. If you have any problem, reach out
+ trough the RoboSats public channels.