What is escrow in regards to selling/buying stuff? How does it work?
en.wikipedia.org/wiki/Escrowescrow is someone that holds your money like a middle man while you approve the sale.
check the services section. you can find a few people.
Topic: 3 more questions (Read 1363 times)
escrow is someone that holds your money like a middle man while you approve the sale.
check the services section. you can find a few people.
What is escrow in regards to selling/buying stuff? How does it work?
Can people mine on their iPhones/tablets or do you need
How hot in temperature do those little USB miners get
Can people mine on their iPhones/tablets or do you need
How hot in temperature do those little USB miners get
A third party that hold your btc to prevent scamming in any way,
no
I don't know that. :/
Answer is upwards of 66ºCelsius and more if it's in a hot non ventilated room.
Enough to melt plastic and start fires so be careful.
What is escrow in regards to selling/buying stuff? How does it work?
Can people mine on their iPhones/tablets or do you need
How hot in temperature do those little USB miners get
Can people mine on their iPhones/tablets or do you need
How hot in temperature do those little USB miners get
A third party that hold your btc to prevent scamming in any way,
no
I don't know that. :/
Dannyhamilton. Would you escrow for me if I decided to try to sell some stuff? Would having a good rep on eBay help me out. I realize I'm new here is why I'm asking. It would only be for smaller stuff under 100usd
I only escrow for members of this forum, so if you are selling on EBay, then you'll have to hope that the buyer is also a member of this forum (or convince them to join).
If you are selling here in the "Marketplace" sub-forum, then I'd be happy to escrow for you. Once you have a buyer and you've worked out all the terms of the transaction, send me a PM with the buyer's bitcointalk ID, the amount of bitcoins being exchanged, the item being sent, and any other terms or conditions for escrow release that you've negotiated. When I'm online, I'll write up an escrow agreement and send it to both of you. If I'm online when you send the request, I'll typically send an agreement out within an hour unless I'm very busy.
Important Notes:
- I only escrow for bitcoin transactions. If you decide to sell for any altcoins (including litecoin and/or peercoin) then you will need to find another escrow provider.
- Do not accept an escrow agreement that is forwarded to you by the buyer or someone else. You will always get the escrow agreement directly from the escrow provider. There is a very good chance that any forwarded agreement is fake.
- Check very carefully and make sure that the escrow agreement is from the userID that you think it is from. There are at least 6 people that have created userID's that look VERY much like "DannyHamilton" with just a slight spelling error. They use these to impersonate me and attempt to scam other people.
- Consider learning how to verify a PGP signature. Four of the top five escrow providers on this forum are all willing and able to sign their escrow agreements. By verifying the signature you can avoid being scammed by someone that hacks the bitcointalk account of an escrow provider.
- Be aware that if buyers post in your thread scammers may create a userID that looks a lot like yours and respond to the buyer pretending to be you. They will try to trick the buyer into sending the bitcoins directly to them instead of to you.
Dannyhamilton. Would you escrow for me if I decided to try to sell some stuff? Would having a good rep on eBay help me out. I realize I'm new here is why I'm asking. It would only be for smaller stuff under 100usd
I see, and here are some more questions regarding the escrow process.
Is filming the boxing procedure (to the seller) and unboxing procedure (to the buyer) a good enough evidence? But then it could be faked as well.
And what would you suggest us to do (to the seller and buyer side respectively) to protect ourselves against a lying counter-party?
Is filming the boxing procedure (to the seller) and unboxing procedure (to the buyer) a good enough evidence? But then it could be faked as well.
And what would you suggest us to do (to the seller and buyer side respectively) to protect ourselves against a lying counter-party?
Filming helps support your case, but as you've pointed out, it can be faked. It's better than not having the film at all, but not much better.
Once of the easiest things that the bitcoin receiver can do to help protect themselves is offer a full refund (minus shipping cost) if the product is returned. This protects the bitcoin receiver from someone that lies and says that the product is damaged or non-functional. If the bitcoin provider refuses to return the product, then the bitcoin receiver gets the bitcoins. If they do return the product, then the bitcoin provider gets the bitcoins.
Another thing that can be done is the product can be shipped to the escrow provider. This allows the escrow provider to verify the contents of the package before forwarding it on to the final recipient. This method has additional costs as the additional shipping must be paid for, but with very expensive items that can be shipped cheaply, it can result in a much less risky transaction.
Some other things to consider and agree on before beginning any transaction:
- What shipping provider will be used? (UPS, FedEx, etc)?
- What shipping method will be used? (Next Day Air, Priority Express, Priority two-day, First Class postage, etc)?
- Will the package be insured?
- Will a signature be required on delivery?
- Who is paying the costs (shipping fees, customs fees, escrow fees, shipping fees for return, etc)?
- Will a tracking number be provided for the shipment?
- When is item expected to be shipped out?
- What is the expected delivery date?
- Is the seller expected to compensate the buyer for late delivery?
- Is the seller expected to compensate the buyer if he becomes unable to deliver?
- Is the buyer expected to compensate the seller if he backs out of the transaction, decides to refuse delivery, or ships the product back?
Thanks a lot for all your great advice. I have saved the link to this thread, and will definitely come back to re-read your posts when I need to buy something in the future.
I see, and here are some more questions regarding the escrow process.
Is filming the boxing procedure (to the seller) and unboxing procedure (to the buyer) a good enough evidence? But then it could be faked as well.
And what would you suggest us to do (to the seller and buyer side respectively) to protect ourselves against a lying counter-party?
Is filming the boxing procedure (to the seller) and unboxing procedure (to the buyer) a good enough evidence? But then it could be faked as well.
And what would you suggest us to do (to the seller and buyer side respectively) to protect ourselves against a lying counter-party?
Filming helps support your case, but as you've pointed out, it can be faked. It's better than not having the film at all, but not much better.
Once of the easiest things that the bitcoin receiver can do to help protect themselves is offer a full refund (minus shipping cost) if the product is returned. This protects the bitcoin receiver from someone that lies and says that the product is damaged or non-functional. If the bitcoin provider refuses to return the product, then the bitcoin receiver gets the bitcoins. If they do return the product, then the bitcoin provider gets the bitcoins.
Another thing that can be done is the product can be shipped to the escrow provider. This allows the escrow provider to verify the contents of the package before forwarding it on to the final recipient. This method has additional costs as the additional shipping must be paid for, but with very expensive items that can be shipped cheaply, it can result in a much less risky transaction.
Some other things to consider and agree on before beginning any transaction:
- What shipping provider will be used? (UPS, FedEx, etc)?
- What shipping method will be used? (Next Day Air, Priority Express, Priority two-day, First Class postage, etc)?
- Will the package be insured?
- Will a signature be required on delivery?
- Who is paying the costs (shipping fees, customs fees, escrow fees, shipping fees for return, etc)?
- Will a tracking number be provided for the shipment?
- When is item expected to be shipped out?
- What is the expected delivery date?
- Is the seller expected to compensate the buyer for late delivery?
- Is the seller expected to compensate the buyer if he becomes unable to deliver?
- Is the buyer expected to compensate the seller if he backs out of the transaction, decides to refuse delivery, or ships the product back?
How are you or other escrow providers going to handle the trade when the buyer and seller are telling you different stories (eg. the seller says he sent a working product while the buyer says the product is borken)?
That depends on the person providing the escrow service and the terms that are agreed to ahead of time.
It is up to the two parties involved in the transaction to determine exactly what conditions are necessary for escrow release. When I am contacted for escrow, I encourage both parties to consider the possibilities and decide how they want things handled if everything doesn't go exactly according to plan. That being said, if they choose to just go with a default agreement, my standard agreement specifically states:
"The default terms of this contract are designed to protect the bitcoin provider against a fraudulent bitcoin receiver. The protections provided to the bitcoin receiver are minimal. Under the default conditions of this contract the only protection provided to the bitcoin receiver is the ability to refuse to provide anything of value until better conditions have been negotiated. If the bitcoin receiver delivers the product without first negotiating and confirming other conditions, there is an opportunity for the bitcoin provider to lie and claim that they never received the equipment or that it was non-functional on arrival. The burden of proof would then be on the bitcoin receiver to demonstrate that the bitcoin provider did indeed receive it and that it was working properly when it arrived"
If both parties refuse to release escrow to the other, each claiming that the other party is lying, then I open a public discussion thread in the Scam Accusations sub-forum. There I provide all the available evidence, and allow both parties to present their case to the best of their ability. I attempt to reach a resolution to the conflict that both parties are willing to accept, but in the worst case situations, I would be forced to make the best and fairest decision that I can while honoring the original escrow agreement as closely as possible for the circumstances of the case.
This is specifically stated in my escrow agreements:
"The escrow holder, Daniel Hamilton (pseudonym DannyHamilton), assumes and gives no liability or guarantees on the satisfaction of all parties involved, although he agrees to mediate and facilitate the deal to the fullest extent he is capable of. On the event that any problems arises, he will release the escrow to whichever party presents him with the most convincing proof and after an open discussion with others and the moderators of bitcointalk.org."
I see, and here are some more questions regarding the escrow process.
Is filming the boxing procedure (to the seller) and unboxing procedure (to the buyer) a good enough evidence? But then it could be faked as well.
And what would you suggest us to do (to the seller and buyer side respectively) to protect ourselves against a lying counter-party?
The buyer sends the bitcoins to the escrow provider. They trust that if they don't receive their product the escrow provider will send the bitcoins back to them.
The seller trusts that once the product is delivered, the escrow provider will release the bitcoins to them, so they go ahead and ship the product.
This way the seller can't run off with the bitcoins without shipping the product (since the escrow provider won't release the bitcoins until the buyer indicates that he has successfully received the desired merchandise), and the buyer can't just run off with the product without paying (since the seller won't ship the product until the escrow provider is holding the bitcoins).
The seller trusts that once the product is delivered, the escrow provider will release the bitcoins to them, so they go ahead and ship the product.
This way the seller can't run off with the bitcoins without shipping the product (since the escrow provider won't release the bitcoins until the buyer indicates that he has successfully received the desired merchandise), and the buyer can't just run off with the product without paying (since the seller won't ship the product until the escrow provider is holding the bitcoins).
How are you or other escrow providers going to handle the trade when the buyer and seller are telling you different stories (eg. the seller says he sent a working product while the buyer says the product is borken)?
That depends on the person providing the escrow service and the terms that are agreed to ahead of time.
It is up to the two parties involved in the transaction to determine exactly what conditions are necessary for escrow release. When I am contacted for escrow, I encourage both parties to consider the possibilities and decide how they want things handled if everything doesn't go exactly according to plan. That being said, if they choose to just go with a default agreement, my standard agreement specifically states:
"The default terms of this contract are designed to protect the bitcoin provider against a fraudulent bitcoin receiver. The protections provided to the bitcoin receiver are minimal. Under the default conditions of this contract the only protection provided to the bitcoin receiver is the ability to refuse to provide anything of value until better conditions have been negotiated. If the bitcoin receiver delivers the product without first negotiating and confirming other conditions, there is an opportunity for the bitcoin provider to lie and claim that they never received the equipment or that it was non-functional on arrival. The burden of proof would then be on the bitcoin receiver to demonstrate that the bitcoin provider did indeed receive it and that it was working properly when it arrived"
If both parties refuse to release escrow to the other, each claiming that the other party is lying, then I open a public discussion thread in the Scam Accusations sub-forum. There I provide all the available evidence, and allow both parties to present their case to the best of their ability. I attempt to reach a resolution to the conflict that both parties are willing to accept, but in the worst case situations, I would be forced to make the best and fairest decision that I can while honoring the original escrow agreement as closely as possible for the circumstances of the case.
This is specifically stated in my escrow agreements:
"The escrow holder, Daniel Hamilton (pseudonym DannyHamilton), assumes and gives no liability or guarantees on the satisfaction of all parties involved, although he agrees to mediate and facilitate the deal to the fullest extent he is capable of. On the event that any problems arises, he will release the escrow to whichever party presents him with the most convincing proof and after an open discussion with others and the moderators of bitcointalk.org."
The buyer sends the bitcoins to the escrow provider. They trust that if they don't receive their product the escrow provider will send the bitcoins back to them.
The seller trusts that once the product is delivered, the escrow provider will release the bitcoins to them, so they go ahead and ship the product.
This way the seller can't run off with the bitcoins without shipping the product (since the escrow provider won't release the bitcoins until the buyer indicates that he has successfully received the desired merchandise), and the buyer can't just run off with the product without paying (since the seller won't ship the product until the escrow provider is holding the bitcoins).
The seller trusts that once the product is delivered, the escrow provider will release the bitcoins to them, so they go ahead and ship the product.
This way the seller can't run off with the bitcoins without shipping the product (since the escrow provider won't release the bitcoins until the buyer indicates that he has successfully received the desired merchandise), and the buyer can't just run off with the product without paying (since the seller won't ship the product until the escrow provider is holding the bitcoins).
How are you or other escrow providers going to handle the trade when the buyer and seller are telling you different stories (eg. the seller says he sent a working product while the buyer says the product is borken)?
Depends on the usb miner. Most though have 1 chip and a decent heat sync. I know at one time i had 50 block erupter sticks running with a light breeze from a fan. They really heat ambient temperature much.
Some of the newer multi chip ones I have not had a chance to use. Anymore the small usb cost more then they will bring in they are a novelty.
Some of the newer multi chip ones I have not had a chance to use. Anymore the small usb cost more then they will bring in they are a novelty.
What is escrow in regards to selling/buying stuff?
Escrow is a person that has a good enough reputation that both the buyer and the seller are willing to trust them to facilitate the transaction.
How does it work?
The buyer sends the bitcoins to the escrow provider. They trust that if they don't receive their product the escrow provider will send the bitcoins back to them.
The seller trusts that once the product is delivered, the escrow provider will release the bitcoins to them, so they go ahead and ship the product.
This way the seller can't run off with the bitcoins without shipping the product (since the escrow provider won't release the bitcoins until the buyer indicates that he has successfully received the desired merchandise), and the buyer can't just run off with the product without paying (since the seller won't ship the product until the escrow provider is holding the bitcoins).
Can people mine on their iPhones/tablets or do you need
Bitcoins? No. It is not possible to mine any usable amounts of bitcoins with smartphones, tablets, or basic computers. You need specialized bitcoin mining equipment.
its a bit hard to find a escrow list providers, but check the services section. I found a few people.
Bookmark this link, and you won't have as much trouble finding trustworthy escrow providers:
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897
What is escrow in regards to selling/buying stuff? How does it work?
Can people mine on their iPhones/tablets or do you need
How hot in temperature do those little USB miners get
Can people mine on their iPhones/tablets or do you need
How hot in temperature do those little USB miners get
Escrow is having someone who is trusted hold items to make sure both parties deliver. It is important because bitcoin transactions are irreversable it is easy for someone to scam you by insisting that you send first and then disappearing.
I think the hash rate you got from a tablet would not be meaningful and you would risk burning up your device. So maybe possible, but in no way recommended.
I don't know about the USB miners, sorry.
im pretty new here as well. but i read some stuff already, with escrow its someone that holds your bitcoin while you approve the sale.
its a bit hard to find a escrow list providers, but check the services section. I found a few people.
as for your other questions, not sure lol.
its a bit hard to find a escrow list providers, but check the services section. I found a few people.
as for your other questions, not sure lol.
What is escrow in regards to selling/buying stuff? How does it work?
Can people mine on their iPhones/tablets or do you need
How hot in temperature do those little USB miners get
Can people mine on their iPhones/tablets or do you need
How hot in temperature do those little USB miners get
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