I am going to purchase an online service from a vendor and I have created a 2-sig wallet to pay. If the vendor does not provide the service that I want are my coins stuck forever in the wallet because I will not release them? Or, is there a way I can retrieve them?
Hi and welcome!
If you are looking to use a bitcoin multi signature address to escrow funds, I would suggest you to do the following:
Set up a 3 way multi signature address, and then split the keys as the following:
One for you, one for the vendor, and one for a 3rd party who will act as a decider in case the first two parts will point a disagreement.
The 3rd key holder will be able to decide who deserves to receive the funds in a situation where the 2 participants are getting into a dispute.