Feedback on escrow i launched | Bitcointalksearch.org

pablocokeninja

jr. member

Activity: 47

Merit: 3

Quote from: Kakmakr on February 18, 2022, 08:19:22 AM

I like two things about this project :

1. You do not use any "hot" wallets, because all funds are stored on cold storage.
2. The process to use the Escrow is very simply, so even the most clueless person can use it.

You have not explained what the process is, if there is a dispute. How long will the process last until the party that win the dispute... receive their funds? I presume that the 2.5% fee is still charged.. even if there was not a successful transaction between the two parties. Huh

Hey,
I must correct you on that,
We do store your funds in Cold wallets but it is an optional feature, since we still don't want to 100% control any funds of our users, but sometimes for big escrow transactions, and when trust is built, they can request us to store the funds in Cold wallets for more safety.
Even tho, our systems and servers are hardened well.

For the dispute process, basically it will done through Direct messaging apps, or through our Sub reddit, depends on our users requests of course.
And if there was not a successful transaction, we will refund back the fee if it was over >25$ (Due to bitcoin fees).

We are working out best to create an easier way to create multi-sig escrow transactions, since it is a bit of a hassle for new users.

Much appreciated for the feedback!

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

I like two things about this project :

1. You do not use any "hot" wallets, because all funds are stored on cold storage.
2. The process to use the Escrow is very simply, so even the most clueless person can use it.

You have not explained what the process is, if there is a dispute. How long will the process last until the party that win the dispute... receive their funds? I presume that the 2.5% fee is still charged.. even if there was not a successful transaction between the two parties. Huh

pablocokeninja

jr. member

Activity: 47

Merit: 3

Quote from: examplens on February 08, 2022, 06:54:12 PM

In the about us section, I find only some short text and contact email (protonmail) addresses. Do you really believe that is enough to earn trust from people and that based on that, someone will entrust you with money for safekeeping?
As a financial service, you have to do a lot more and prove that you are trusted. Also, one person behind this service can be warned of the risk. we have already had similar cases where the death of the only person with access to funds was reported, but later it turned out that this was not the case. I want to say, who will protect your clients in case you are unavailable it doesn't matter for what reason.

I agree with seoincorporation, design is terrible. You need urgently to improve this.
Starting the process with just an email address is enough. the road is the occurrence of hacked email addresses, or falsely reporting hacking to avoid an obligation. What is your mechanism to prevent those cases? How you will be sure that everything went smoothly?

Well i did add XMPP/Jabber at the homepage as well, i just wanted to provide an escrow service with privacy in mind, so i didn't want to violate that.
As i mentioned, i am more than welcoming to bitcointalk escrow providers to partner with me, and i will even give them access to the wallets if they required that.
I want both transparency and privacy for the users, and i believe that could solve the issue, honestly any reputable member is welcomed as long as they do not harass the clients funds.
I am working on integrating multi-sig for easy use, basically multi-sig can be a dead end for new users, so i want to simplify it as much as possible and i am looking for a solution for that.

hugeblack

legendary

Activity: 2702

Merit: 4002

Quote from: pablocokeninja on February 04, 2022, 06:22:25 AM

Please check it out and would appreciate any feedback on how to improve it.
https://bigbear.cx

Does the platform provide proof of payments? Address signature to prove that you own those coins or PGP^[1] signature?
Who are you and what guarantees that you will not speed money?
How do you ensure that both parties are honest, meaning that you are not hosting a messaging service.
Why is everything done centrally? Meaning why not have a multi-signature address so that users can release money without you.

[1] https://en.wikipedia.org/wiki/Pretty_Good_Privacy

examplens

legendary

Activity: 3472

Merit: 3507

Crypto Swap Exchange

In the about us section, I find only some short text and contact email (protonmail) addresses. Do you really believe that is enough to earn trust from people and that based on that, someone will entrust you with money for safekeeping?
As a financial service, you have to do a lot more and prove that you are trusted. Also, one person behind this service can be warned of the risk. we have already had similar cases where the death of the only person with access to funds was reported, but later it turned out that this was not the case. I want to say, who will protect your clients in case you are unavailable it doesn't matter for what reason.

I agree with seoincorporation, design is terrible. You need urgently to improve this.
Starting the process with just an email address is enough. the road is the occurrence of hacked email addresses, or falsely reporting hacking to avoid an obligation. What is your mechanism to prevent those cases? How you will be sure that everything went smoothly?

seoincorporation

legendary

Activity: 3346

Merit: 3130

That sounds great, i just send you a PM, it would be great to have a conversation.

pablocokeninja

jr. member

Activity: 47

Merit: 3

Quote from: seoincorporation on February 08, 2022, 01:40:48 PM

Quote from: pablocokeninja on February 04, 2022, 06:22:25 AM

Hey!

So i launched a bitcoin escrow that is focused on privacy, strict NO JS policy and it has an onion version too.
Please check it out and would appreciate any feedback on how to improve it.
https://bigbear.cx

The escrow process looks fine, but the page and the user experience are terrible. Looks like you need a designer for the front end.

Honestly, i couldn't make a better design since i focused on privacy by design, basically strict NO JS policy, and i just wanted it to be simpler, i can however make a version for mobile, but is it necessary?

And there is a lack of information:

-We don't know what's the Min. Amount.
-We don't know for how long the scroll can be open.
-In the road map you mention new coins but it only allows bitcoin.

I will definitely include the information, and i am working on adding up Monero, since it should be done by April.

The project looks like it's 60% finished, there is a lot of work to make it look professional, if you need a hand I just let me know Wink

I would definitely love to have a partner, since i am all alone in this, plus i contacted some escrow providers in the forum to be a part of the website, as it takes a lot of hassle from them doing things manually, yet i received no replies.

seoincorporation

legendary

Activity: 3346

Merit: 3130

Quote from: pablocokeninja on February 04, 2022, 06:22:25 AM

Hey!

So i launched a bitcoin escrow that is focused on privacy, strict NO JS policy and it has an onion version too.
Please check it out and would appreciate any feedback on how to improve it.
https://bigbear.cx

The escrow process looks fine, but the page and the user experience are terrible. Looks like you need a designer for the front end.

And there is a lack of information:

-We don't know what's the Min. Amount.
-We don't know for how long the scroll can be open.
-In the road map you mention new coins but it only allows bitcoin.

The project looks like it's 60% finished, there is a lot of work to make it look professional, if you need a hand I just let me know Wink

pablocokeninja

jr. member

Activity: 47

Merit: 3

Hey!

So i launched a bitcoin escrow that is focused on privacy, strict NO JS policy and it has an onion version too.
Please check it out and would appreciate any feedback on how to improve it.
https://bigbear.cx

Topic: Feedback on escrow i launched (Read 128 times)