Do we have definitive answer that ClearCoin is not for sale?
Several people have asked me about buying it, but I won't sell it unless I trust that the team that takes it on has experience keeping customer's money safe and the resources to do all of the things I don't have time for-- penetration testing, better customer support, insurance on the coins in escrow, etc.
Topic: ClearCoin Closing (Read 13262 times)
Do we have definitive answer that ClearCoin is not for sale?
why you trying to put human escrow agents out of business?
Not at all. If a transaction goes well then the escrow process can be conducted automatically by the Bitcoin network (good for everyone). If it goes badly then people may have to step in and mediate. However, the actions of the people will be limited to paying either the buyer or the seller no other destination will be possible.
why you trying to put human escrow agents out of business?
There are 2 hard problems to solve with an escrow service:
1) making sure that both the buyer and seller do not have to trust the mediator (it's not possible for the mediator to run off with the coins)
2) the mediator making sure that he cannot be corrupted by outside forces (he does not have the keys to the safe)
The above can be solved with Bitcoin contracts. These are coming soon to a client near you. Then it's really going to be a lot of fun in the Bitcoin economy.
1) making sure that both the buyer and seller do not have to trust the mediator (it's not possible for the mediator to run off with the coins)
2) the mediator making sure that he cannot be corrupted by outside forces (he does not have the keys to the safe)
The above can be solved with Bitcoin contracts. These are coming soon to a client near you. Then it's really going to be a lot of fun in the Bitcoin economy.
But seller also needs to trust escrow.
I think that only way is to create separate service with good reputation (witch takes time earn).
I think that only way is to create separate service with good reputation (witch takes time earn).
If someone really wanted an escrow service, I bet one of the trusted senior members of this site would be glad to do it, informally, for a small fee. For example, I would trust Atlas much more than some stranger. If I wanted to buy something expensive, I would ask him to act as the escrow. I would send him the Bitcoin payment, and once I confirm that I got the purchased item, he would release the funds, minus a fee, to the seller.
I am interested in having such a service available again.
Just added the option (similar to ClearCoin) to my escrow service
Official Thread: http://forum.bitcoin.org/index.php?topic=21544.0
Link: BTCrow.com
I am interested in having such a service available again.
So there is no interest in this ?
This is how I intended to make it :
Buyer registers on escrow
He has an option to create new transaction.
When he wants to create new transaction he enters following information:
1)Release address
2)Transaction length (1m, 6m, 1y..)
Then he created transaction witch has its url and can be viewed by anybody.
Transaction page has following info:
1)Release address
2) Transaction length
3) Transaction creation date
4) BTC amount in it
5) Status - Current, Released
If buyer is logged in he also sees:
1)Option to increase transaction length
2) Option to release funds
3) He can see transaction address (address to witch he sends BTC to be added to transaction)
4) He can see incoming transactions (to above address)
Buyers also have public profile pages where there is some basic information about buyer and number of transactions created by him and number of them released (like reputation)
Thay can also enter return address. (where to send BTC if transactions are not released)
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Am I missing something here ?
Buyer registers on escrow
He has an option to create new transaction.
When he wants to create new transaction he enters following information:
1)Release address
2)Transaction length (1m, 6m, 1y..)
Then he created transaction witch has its url and can be viewed by anybody.
Transaction page has following info:
1)Release address
2) Transaction length
3) Transaction creation date
4) BTC amount in it
5) Status - Current, Released
If buyer is logged in he also sees:
1)Option to increase transaction length
2) Option to release funds
3) He can see transaction address (address to witch he sends BTC to be added to transaction)
4) He can see incoming transactions (to above address)
Buyers also have public profile pages where there is some basic information about buyer and number of transactions created by him and number of them released (like reputation)
Thay can also enter return address. (where to send BTC if transactions are not released)
-----------------------------------------------------------
Am I missing something here ?
Sounds like something that can be coded in a week...
It's thinking like that that got mtgox into trouble.
Thats why i said week
It can actually be done in 2 days
But I would also like to make reputation system.
Open sourcing is a good idea IMHO. At least this way whoever has the inclination can either improve the code or start using it. With a bunch more escrow sites out there eventually the free market will sort the good from the bad.
Still though in a way it won't be the same. The main reason why I considered using ClearCoin is because it was operated by you Gavin.
I was thinking, maybe you can pass it on to another trusted member of the bitcoin community? Maybe one of the forum admins or another one of the dev crew?
I love FOSS, but I feel that this is a situation where it's better not to allow just anyone to open up an escrow service. I'd like to know that whoever ClearCoin is being sold to is a trustworthy individual. Still though in a way it won't be the same. The main reason why I considered using ClearCoin is because it was operated by you Gavin.
I was thinking, maybe you can pass it on to another trusted member of the bitcoin community? Maybe one of the forum admins or another one of the dev crew?
Sounds like something that can be coded in a week...
It's thinking like that that got mtgox into trouble.
I may be interested to create an alternative.
Sounds like something that can be coded in a week...
Is there anywhere any docs about its architecture and how it works so I don't have to reinvent the wheel ?
Sounds like something that can be coded in a week...
Is there anywhere any docs about its architecture and how it works so I don't have to reinvent the wheel ?
Open sourcing is a good idea IMHO. At least this way whoever has the inclination can either improve the code or start using it. With a bunch more escrow sites out there eventually the free market will sort the good from the bad.
Still though in a way it won't be the same. The main reason why I considered using ClearCoin is because it was operated by you Gavin.
I was thinking, maybe you can pass it on to another trusted member of the bitcoin community? Maybe one of the forum admins or another one of the dev crew?
Still though in a way it won't be the same. The main reason why I considered using ClearCoin is because it was operated by you Gavin.
I was thinking, maybe you can pass it on to another trusted member of the bitcoin community? Maybe one of the forum admins or another one of the dev crew?
Sell the business at flippa.com
When all set up, email the auction link to interested parties.
When all set up, email the auction link to interested parties.
We really need a trustworthy Clearcoin alternative soon. I just placed a link to Clearcoin on my website..
this was a great idea and a service...i did my first transaction with clearcoin and it makes the newbie feel so much more secure...
Sorry to hear the service is going away, I finally got my hands on some bitcoins and was planning on using it to facilitate some BTC auction transactions.
That said, you obviously have many irons in the fire - I can't wait to see what you come out with next!
That said, you obviously have many irons in the fire - I can't wait to see what you come out with next!
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