I talked some time ago with a bitcoin core dev who told me that basically, the escrow service is already embedded in the bitcoin protocol.
Basically, you send BTC to 3 public addresses, and it requires only two privates keys to use the output of the transaction.
In this case, the third party can never use the output without the agreement of a second player in the transaction.
In normal use, the two persons using the service won't need the involvement of the third party to complete the transaction.
Are your using the Bitcoin protocol in this way?
Topic: [ANN] Automated Bitcoin Escrow - CoinGuard - Come BETA Test (Read 3730 times)
Are you using the Casascius/Escrow scheme (http://www.bitescrow.org/ )?
More specifically: Can you access the funds or not?
Your website says:
"Without revealing too much information in the way of security to the exact method in which we hold funds."
Why do you hold the funds? The beauty of the Casascius scheme (https://en.bitcoin.it/wiki/User:Casascius/Escrow_scheme_draft) is that you are not able to withdraw the them!
More specifically: Can you access the funds or not?
Your website says:
"Without revealing too much information in the way of security to the exact method in which we hold funds."
Why do you hold the funds? The beauty of the Casascius scheme (https://en.bitcoin.it/wiki/User:Casascius/Escrow_scheme_draft) is that you are not able to withdraw the them!
Hello Bitcoin Community,
I would like to introduce a service I have created that will truly improve the bitcoin community and economy in general. An automated cryptographic escrow tool that completely removes the involvement of a human third party. I'm really close to publicly launching and felt it was my duty to let the bitcointalk community have first crack at it.
http://imageshack.us/a/img208/2513/coinguardbitcointalkbet.png
Will there be a escrow fee?
- For the beta there is a 0% escrow fee, however once the site launches publicly there will be a 1% escrow fee associated with transactions.
Can you steal my bitcoins?
- No, I designed the system to not be able to see or save any important escrow information like wallet address, or private key. Namely for a couple of reasons. 1. To instill trust in bitcoin, I mean seriously what good is having a digital escrow service that could become a target for a hack, or attack in order to take what would amount to some serious cash if successfully implemented. There are no bitcoins held by CoinGuard physically nor on the server. The wallet address, payment invite code, and private key are generated on the client side and not stored in the database in anyway. The only thing we keep are the two escrow codes and corresponding emails to be able to handle any disputes if they so arise. We have a good "How it Works" on the site to better explain the process step by step.
Is it open source?
- Yes its built on the Casascius Escrow scheme draft for which he provided an excellent tool to build upon and have translated into JS by bitescrow.org.
How are disputes handled?
- We are currently working on building out a global dispute agent network to handle disputes as they happen
Will you do Fiat Currency Escrows?
- No we don't want to get into handling any sort of fiat to btc or other crypto currencies exchanges. As you all know there has been quite the ruckus around bitcoin exchanges for right now.
Give us a go at --> https://coinguard.org
Well be excited to get your feedback on the project, bugs, feature request, or how we can make the user experience better or easier to use.
I would like to introduce a service I have created that will truly improve the bitcoin community and economy in general. An automated cryptographic escrow tool that completely removes the involvement of a human third party. I'm really close to publicly launching and felt it was my duty to let the bitcointalk community have first crack at it.
http://imageshack.us/a/img208/2513/coinguardbitcointalkbet.png
Will there be a escrow fee?
- For the beta there is a 0% escrow fee, however once the site launches publicly there will be a 1% escrow fee associated with transactions.
Can you steal my bitcoins?
- No, I designed the system to not be able to see or save any important escrow information like wallet address, or private key. Namely for a couple of reasons. 1. To instill trust in bitcoin, I mean seriously what good is having a digital escrow service that could become a target for a hack, or attack in order to take what would amount to some serious cash if successfully implemented. There are no bitcoins held by CoinGuard physically nor on the server. The wallet address, payment invite code, and private key are generated on the client side and not stored in the database in anyway. The only thing we keep are the two escrow codes and corresponding emails to be able to handle any disputes if they so arise. We have a good "How it Works" on the site to better explain the process step by step.
Is it open source?
- Yes its built on the Casascius Escrow scheme draft for which he provided an excellent tool to build upon and have translated into JS by bitescrow.org.
How are disputes handled?
- We are currently working on building out a global dispute agent network to handle disputes as they happen
Will you do Fiat Currency Escrows?
- No we don't want to get into handling any sort of fiat to btc or other crypto currencies exchanges. As you all know there has been quite the ruckus around bitcoin exchanges for right now.
Give us a go at --> https://coinguard.org
Well be excited to get your feedback on the project, bugs, feature request, or how we can make the user experience better or easier to use.
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