Topic: BTCrow.com - Bitcoin Escrow Service - For safer bitcoin transactions - page 3. (Read 23284 times)

TheButterZone, have you had positive experience(s) using that service? Someone I was planning to purchase a BTC off of mentioned using that service and I didn't feel comfortable enough to go through with it.

Yes, very poor system for new users... obviously the fault is ultimately on me for not being more diligent but its worth noting its a bad system.

Pretty sure "intiated escrow" does not mean "escrow is funded NOW". There are a lot of steps to go through on BTCrow, and it doesn't sound like you made it far enough into them.

Damn. Sorry to hear that. Thanks for the heads up! I guess I won't be doing business.

bad experience with this service... received email notification from them that buyer had initiated escrow. I took this as the payment was now in escrow, after sending the GC I learned that it fact wasn't and I got ripped off $75

It should not email the seller when the money is in fact NOT in Escrow.

Has anyone on this thread used the service? If so, how was it? Is it reliable, safe and secure? I as because someone proposed using this service for me to buy a BTC off him. Please let me know any info. Thanks.

I can see the advertisements now...


"Yo yo yo, use BT Crow for all your Escrow, Bro!"

How long do I have to wait to have my bitcoins released to me.. Both buyer and seller have verified payments, got confirmation from btcrow, been waiting 14 hours now. I really need these btc. I have emailed once, and sent a message on the site about my transaction.

So... is anyone home? Seems like 100% of bcchanger.com users are refusing or failing to complete btcrow escrows...

I am offering to be an "inspector" in Australia.

If you  need to store collateral for bitcoin loans I have a lock up garage and house with contents insurance, along with a safe.

In the case that you need to verify an item exists or is as described I can  get the seller to post the item here to verify it and then forward it to the buyer.

I would  not handle silk road related items just to protect myself.

Id like to do this through btcrow.com only because I dont wish to secure bitcoin deposits myself. It would be nice to have a management console on the site to do this.

You are handling other people's money. They are supposed to 100% understand *precisely* what procedures you will follow in all cases, and they should agree to them when they agree to use you as an escrow service. I've never heard of an escrow service with secret rules. Any scheme that leaves you discretion in what to do with other people's money is, IMO, broken. The rules should be 100% precise and clear.

Following the rules to get the result the rules entitle you to is how rules are supposed to work. It's not "taking advantage" of them.

For example, here are some very simple escrow rules:

1) The parties to the escrow agree on the amount to be escrowed and who will deposit the money. The escrow fee is taken from the deposit amount.

2) The parties to the escrow specify what courts or arbitration agencies they will use for disputes.

3) The escrow agency will release funds only on approval of both parties, upon order of a court or arbitration agency they specified in step 2, upon order from a court with jurisdiction over the escrow agency, or upon special, easily objectively-verified release conditions agreed upon by the parties. (For example, one special release condition could be if a particular party fails to present the escrow agency with proof of a particular document by a particular date, the other party gets the escrow amount.)

4) The escrow agency assumes liability only for failure to follow its own rules.

You can, if you wish, also offer your own arbitration service and permit parties to select it in step 2. But if you do this, you should practice 100% separation between the escrow and arbitration services. You can do arbitration by email.

The site had experienced a distributed denial of services attack (DDos), but has been back up for several weeks.

Site is not responding.  Any update?

+1.

I was thinking this same thing. Local inspectors the seller and/or buyers pick to personally verify the contents and delivery in a locality. Interesting idea, seems feasible.

I have an idea that will improve your service, and provide greater value to the community:

Instead of a Re-shipping function, why not have "Dedicated Inspectors" {DI} service;

The DI's would be volunteers from the community, all over the world, where the seller would need to visit and have a 3 way conference with the buyer, to make sure that the DI confirms the products being sold are to the Buyer's expectation, and then go with the Seller to make sure the Product is shipped off.  (now that's a long sentence!)

This would probably eliminate 95% off any problems with shipped goods not being what the Buyer expected, and will also give the Seller a re-assurance when a mediation claim is made, as the DI can confirm certain facts at the time of shipping.

Hence the need for a large 50-75% portion of the fee collected by BTCrow will need to go to the DI.

1. With the above DI service, you can charge more than the 1% fee (say 1.5-2%)
2. You will also probably still offer a non-DI service for 1%
3. As this service get's more popular, more people will start "volunteering" to be DI's; the income generated can become substantial for certain areas.
4. A Premium service could be charged, where you can request a DI visit a Seller (somewhat out of there normal region) and the Buy would be willing to pay a higher fee. This might be needed for large transactions, say over $10k.

I hope that makes sense.

Hi, just checked the website: http://www.auctionbytes.com/cab/pages/ratings. They ask for a lot of things: such as:

- Websites with private domain registration are not accepted. We must be able to verify your information in the WhoIs database.
- Your website must contain contact information, including your address.
- Your service must have been in operation a minimum of one year.

My service has not been open for at least one year so first I can't list it here.

Second As I explained in a thread, I won't list any address till I open a local only for BTCrow.

Quote here:

Refering post here:
https://bitcointalksearch.org/topic/m.465654

So for the listing I tried it anyway but I don't think they will approve my business.


For your other question this is exactly on what we are working. We integrate payment converter in our merchant tools and will soon start to contact non bitcoin business and bitcoin business about the possibility of accepting secured bitcoin payment.

The main problem is I am alone to code and it take lot of time to complete everything.

I'll try to speedup, but I keep security in mind so need to do code audits and pentesting in the same time which is time consuming.

BTW thanks for all your suggestion this is really apreciated.

Would you consider registering your service with ECommerceBytes so that it can be reviewed there?
 - http://www.auctionbytes.com/cab/pages/ratings   (Category: Payment Services)

Also, any thoughts on:
 Escrow Service for Non-BTC Merchants
 - https://bitcointalksearch.org/topic/escrow-service-for-non-btc-merchants-39070

Bump, people who leave feedback contact me at [email protected] in order to receive your 20% lifetime discount.

Here's the thread also: https://bitcointalksearch.org/topic/ann-btcrowcom-to-all-our-customers-35627

Thanks

Jules

Our site is up and running now. If you have any questions feel free to post here we'll be happy  to answer them.

Thanks