Topic: ClearCoin: for safer bitcoin transactions - page 2. (Read 5112 times)
I hope you plan to offer an API for sellers.
I find it a bit dangerous to give the final decision to the buyer.... at least in retail, it's the seller who has a reputation to care for. Buyers have less to lose in cheating.
Not complaining about your site though, it's a good initiative.
Not complaining about your site though, it's a good initiative.
Doesn't this just shift who is taking the risk?
A sends Item to B
B gets Item.
B claims he never got Item.
B gets his bitcoins back.
Am I missing something?
A sends Item to B
B gets Item.
B claims he never got Item.
B gets his bitcoins back.
Am I missing something?
B has to wait a whole year first. The system is designed so that the only thing that one party can do is penalise the other, giving them an economic incentive to cooperate.
Maybe it should be that ClearCoin keeps the coins indefinitely?
Doesn't this just shift who is taking the risk?
A sends Item to B
B gets Item.
B claims he never got Item.
B gets his bitcoins back.
Am I missing something?
A sends Item to B
B gets Item.
B claims he never got Item.
B gets his bitcoins back.
Am I missing something?
Quote
Clearwing's Role
Clearwing cannot, and will not, mediate any disputes arising from the use of ClearCoin. If Alice claims she was cheated we will not refund her coins before the escrow expiration date. And if Bob claims he was cheated we will not give him the 100 bitcoins Alice deposited. Buyer, and seller, beware!
Clearwing cannot, and will not, mediate any disputes arising from the use of ClearCoin. If Alice claims she was cheated we will not refund her coins before the escrow expiration date. And if Bob claims he was cheated we will not give him the 100 bitcoins Alice deposited. Buyer, and seller, beware!
Do you mean Clearcoin?
I know paypal/ebay offers arbitration, and as controversial as it can be, it is a valuable, low cost service. Given that you aren't providing such services, would there be room down the road for a third party arbitrator to control the release of funds to Bob or back to Alice? Any service that is more convenient than going to court would be very appreciated by the community, I imagine.
Oh yeah, nice site!
You could also add the possibility to define how bitcoins get split in case of dispute.
Example : You could say that instead of a full chargeback in case of dispute you only do a 80% refund, merchant gets 20%
Example : You could say that instead of a full chargeback in case of dispute you only do a 80% refund, merchant gets 20%
I'm happy to announce ClearCoin, my bitcoin escrow service:
https://clearcoin.appspot.com/
It makes bitcoin transactions safer by securely holding coins in escrow until both buyer and seller are satisfied.
If you are buying something using bitcoins, it makes the transaction much safer. If you are unsatisfied, you will eventually get your bitcoins refunded to you-- you can think of ClearCoin as do-it-yourself chargebacks.
If you are selling something using bitcoins, ClearCoin is safer than ad-hoc arrangements to reassure reluctant customers (like "I'll ship you the product if you promise to pay within 30 days" or "pay me half now and half on delivery").
I'm looking for questions, comments and feedback. You can give it a try for free-- transactions of less than 100 bitcoins are free, and you can setup an escrow account to yourself just to see how ClearCoin works.
https://clearcoin.appspot.com/
It makes bitcoin transactions safer by securely holding coins in escrow until both buyer and seller are satisfied.
If you are buying something using bitcoins, it makes the transaction much safer. If you are unsatisfied, you will eventually get your bitcoins refunded to you-- you can think of ClearCoin as do-it-yourself chargebacks.
If you are selling something using bitcoins, ClearCoin is safer than ad-hoc arrangements to reassure reluctant customers (like "I'll ship you the product if you promise to pay within 30 days" or "pay me half now and half on delivery").
I'm looking for questions, comments and feedback. You can give it a try for free-- transactions of less than 100 bitcoins are free, and you can setup an escrow account to yourself just to see how ClearCoin works.
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