0 sats \ 2 replies \ @2big2fail 19 Mar 2022 freebie \ on: This Video explains why Nickel Trades were Reversed last Week. Bitcoin fixes this. bitcoin
no, unfortunately bitcoin does not fix this. all centralized commodity exchanges have control over transactions and in a sense are custodial. non custodial fiat(p2p) or bitcoin (p2p) allow for irreversible trades but those would take place outside of exchanges and like bisq have poor price discovery with large price ranges
No, Bitcoin transactions are irreversable. If an exchange was to unwind a commodity trade they could only change ownership of the contracts or physical goods that are deposited but not the money. Thus they can't reverse both side of a trade - reversing only one side would be theft.
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not in the setting of a custodial exchange where the transaction does not settle to the blockchain but stays in the exchange's ledger. highly unlikely in physical commodity exchange that people will be using blockchain settlement while awaiting physical delivery of the nickel