So, instead of trusting the other person you trust in the escrow person (who has a lot more reputation, but still can run away with the money). Am I right?
yes. that's why it's wise to choose an escrow with really high rep for your safety.
Topic: How does escrow thing works??? Plzz explain me (Read 2079 times)
yes. that's why it's wise to choose an escrow with really high rep for your safety.
So, instead of trusting the other person you trust in the escrow person (who has a lot more reputation, but still can run away with the money). Am I right?
thanks guys ur replies helped me a lot...thanx for replying.......
I'm wondering how can sombody be called scammer for not accept escrow?
I understand that there is lot of scammers around the forum, but escrow need 3rd person.
It never could be 100% safe, my funds my choice.
I understand that there is lot of scammers around the forum, but escrow need 3rd person.
It never could be 100% safe, my funds my choice.
usually those same guy are doing also paypal trading, or are newbie or hav ea very shady history
i'm sure that with an experience trusted user, many don't need an escrow
for example i traded with hedgy73 last time, he even sent first without escrow and he has more trust than me
everything went smooth, i think i can do the same with a few member on here
can anybody please explain me how the escrow thing works....
Thanks in advance
Thanks in advance
Escrow is when two people want to engage in a transaction and need a third independent party to hold something until the transaction is complete. For example, if I want someone to ship me something but don't want to pay until it arrives, but they don't want to ship it until I pay, then we can use an escrow service. I pay the escrow company. When I receive the item, I tell them and they release the payment to the seller. If there is a dispute, there is a formal resolution process and reputation for future sales are on the line.
I'm wondering how can sombody be called scammer for not accept escrow?
I understand that there is lot of scammers around the forum, but escrow need 3rd person.
It never could be 100% safe, my funds my choice.
I understand that there is lot of scammers around the forum, but escrow need 3rd person.
It never could be 100% safe, my funds my choice.
There are some Hero/Legendary members here who will accept to be an escrow. Take a look around and choose the one who suits you best.
There is a list of escrows here in the forum and they are highly recommended
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
It's much better and safer if we stick to this list as this list is being updated from time to time
Hiring a Hero or a Legendary member that is not in the list is OK, but keep in mind that you can see how many Hero member and Legendary ( I think I saw 1) accounts are being offered for sale in the Digital goods section and Auction section so be very careful as you maybe talking to a Newbie who just bought a Hero member or Legendary account and try to make some money out of escrowing bid deals and run.
There are some Hero/Legendary members here who will accept to be an escrow. Take a look around and choose the one who suits you best.
There is a list of escrows here in the forum and they are highly recommended
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
It's much better and safer if we stick to this list as this list is being updated from time to time
Hiring a Hero or a Legendary member that is not in the list is OK, but keep in mind that you can see how many Hero member and Legendary ( I think I saw 1) accounts are being offered for sale in the Digital goods section and Auction section so be very careful as you maybe talking to a Newbie who just bought a Hero member or Legendary account and try to make some money out of escrowing bid deals and run.
There are some Hero/Legendary members here who will accept to be an escrow. Take a look around and choose the one who suits you best.
There is currently some controversy on the forum about escrows, especially escrows who are also traders and see no conflict of interest in representing themselves as an impartial third party, whereas they are, in fact, the person on the other side of the deal to you, but using an alternate forum name.
Reasonable people seem to have no problem with the concept that a third person is, in fact, a third person, but it would be as well for anyone using a forum "escrow" to have the situation clarified in writing regarding their impartiality, before agreeing to anything or parting with any goods or coin.
For more reading on this subject search "Quickseller".
Also, above me posters have explained only human escrow. There is also completely automated escrow system that works very well with the help of BIP38.
http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
could you give some more details about that deal ? I mean what did you bought or sold and what was the fees ?http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
also the money involved,thanks
I am very sorry. I have actually used https://bit2factor.com/
It's weird but the bitnow website that I have shared in a first link look exactly the same as this bit2factor. I don't know what's a deal but this might be a scam so stay away from this. You can't also find anything on Google about the bitnow, on the other side about https://bit2factor.com/ you can find many threads that confirm it's legit.
A while ago I have bought 0.35 BTCs via Paypal. I was paying via Paypal and we have used this method https://bit2factor.com/ and everything went smooth!
Cheers!
Edit: Also connection is not private to bitnow so stay away from this definitely!
thanks for the feedback though, will do some research on the second one.
That's what I thought as well. That's why I got confused and sent you a bitnow link because the site looks exactly the same as bit2factor one. I guess that the creator wanted to mimic the site so the people would fall for it, just like I did.
But there are differences. Bit2factor is https while the fake site is just http, connection is not private as well. This is a huge difference, especially when you need to send funds over the Internet and execute a safe transaction.
Bitnow is just a scam attempt. Why else would they make the same exact website if they don't want to screw people over.
Cheers!
Also, above me posters have explained only human escrow. There is also completely automated escrow system that works very well with the help of BIP38.
http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
could you give some more details about that deal ? I mean what did you bought or sold and what was the fees ?http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
also the money involved,thanks
I am very sorry. I have actually used https://bit2factor.com/
It's weird but the bitnow website that I have shared in a first link look exactly the same as this bit2factor. I don't know what's a deal but this might be a scam so stay away from this. You can't also find anything on Google about the bitnow, on the other side about https://bit2factor.com/ you can find many threads that confirm it's legit.
A while ago I have bought 0.35 BTCs via Paypal. I was paying via Paypal and we have used this method https://bit2factor.com/ and everything went smooth!
Cheers!
Edit: Also connection is not private to bitnow so stay away from this definitely!
thanks for the feedback though, will do some research on the second one.
That's what I thought as well. That's why I got confused and sent you a bitnow link because the site looks exactly the same as bit2factor one. I guess that the creator wanted to mimic the site so the people would fall for it, just like I did.
But there are differences. Bit2factor is https while the fake site is just http, connection is not private as well. This is a huge difference, especially when you need to send funds over the Internet and execute a safe transaction.
Bitnow is just a scam attempt. Why else would they make the same exact website if they don't want to screw people over.
Cheers!
Also, above me posters have explained only human escrow. There is also completely automated escrow system that works very well with the help of BIP38.
http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
could you give some more details about that deal ? I mean what did you bought or sold and what was the fees ?http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
also the money involved,thanks
I am very sorry. I have actually used https://bit2factor.com/
It's weird but the bitnow website that I have shared in a first link look exactly the same as this bit2factor. I don't know what's a deal but this might be a scam so stay away from this. You can't also find anything on Google about the bitnow, on the other side about https://bit2factor.com/ you can find many threads that confirm it's legit.
A while ago I have bought 0.35 BTCs via Paypal. I was paying via Paypal and we have used this method https://bit2factor.com/ and everything went smooth!
Cheers!
Edit: Also connection is not private to bitnow so stay away from this definitely!
thanks for the feedback though, will do some research on the second one.
There are some Hero/Legendary members here who will accept to be an escrow. Take a look around and choose the one who suits you best.
Also, above me posters have explained only human escrow. There is also completely automated escrow system that works very well with the help of BIP38.
http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
could you give some more details about that deal ? I mean what did you bought or sold and what was the fees ?http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
also the money involved,thanks
I am very sorry. I have actually used https://bit2factor.com/
It's weird but the bitnow website that I have shared in a first link look exactly the same as this bit2factor. I don't know what's a deal but this might be a scam so stay away from this. You can't also find anything on Google about the bitnow, on the other side about https://bit2factor.com/ you can find many threads that confirm it's legit.
A while ago I have bought 0.35 BTCs via Paypal. I was paying via Paypal and we have used this method https://bit2factor.com/ and everything went smooth!
Cheers!
Edit: Also connection is not private to bitnow so stay away from this definitely!
thanks for the feedback though, will do some research on the second one.
if they can come up with a decentralized automatic escrow(yeah it sounds like fiction) it could be ideal
There should be nothing automatic about escrow, as there's nothing automatic about our lives. They are complicated and should stay that way, need for escrow reflects simple truth that we need third party to resolve potential conflicts. It's normal, you tend to trust one party more then some other. What you are correct is that amount of trust should be minimized by technology, but as long you move goods and services from one human being to another there will always be a chance one party is not satisfied with quality of those goods and services.
Also, above me posters have explained only human escrow. There is also completely automated escrow system that works very well with the help of BIP38.
http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
could you give some more details about that deal ? I mean what did you bought or sold and what was the fees ?http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
also the money involved,thanks
I am very sorry. I have actually used https://bit2factor.com/
It's weird but the bitnow website that I have shared in a first link look exactly the same as this bit2factor. I don't know what's a deal but this might be a scam so stay away from this. You can't also find anything on Google about the bitnow, on the other side about https://bit2factor.com/ you can find many threads that confirm it's legit.
A while ago I have bought 0.35 BTCs via Paypal. I was paying via Paypal and we have used this method https://bit2factor.com/ and everything went smooth!
Cheers!
Edit: Also connection is not private to bitnow so stay away from this definitely!
Also, above me posters have explained only human escrow. There is also completely automated escrow system that works very well with the help of BIP38.
http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
could you give some more details about that deal ? I mean what did you bought or sold and what was the fees ?http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
also the money involved,thanks
Also, above me posters have explained only human escrow. There is also completely automated escrow system that works very well with the help of BIP38.
http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
http://www.bitnow.co/escrow/
Check it out. I have used it and never had any problems with it.
Cheers!
escrow should be avoided in the future, or eliminated altogether, or do it automatic, bitcoin should not rely on a trust third party, it's a system that in theory should work without trust
if they can come up with a decentralized automatic escrow(yeah it sounds like fiction) it could be ideal
of course that acts as a perfect third party or mediator but it cant solve problems like how humans would do ,I mean it has no thinking ability ..if they can come up with a decentralized automatic escrow(yeah it sounds like fiction) it could be ideal
which might arise some other problems too.
escrow should be avoided in the future, or eliminated altogether, or do it automatic, bitcoin should not rely on a trust third party, it's a system that in theory should work without trust
if they can come up with a decentralized automatic escrow(yeah it sounds like fiction) it could be ideal
if they can come up with a decentralized automatic escrow(yeah it sounds like fiction) it could be ideal
Since your a new member on this forum and if you want to do some trade with another new member but you can trust each other for sending money first so you will need a trusted person make the deal smooth. That trusted person is call escrow. You both send your coins or any other things to him and as per the deal escrow will manage the funds.
Jump to: