Incase of a dispute, how fast and reliable is their system? I have been using the forum members for the escrow, because its fast and reliable. I have always thought of how the websites handles the disputes .
I would not personally use any kind of website related escrow service as they have very specific policies which can be easily manipulated. IMO it is much better to use a forum based escrow who can use their own good judgment in the event of a potential dispute. 
Topic: How does escrow work? (Read 2815 times)
Incase of a dispute, how fast and reliable is their system? I have been using the forum members for the escrow, because its fast and reliable. I have always thought of how the websites handles the disputes .
I used https://btcrow.com before. i didn't experience any problems.
Even if using multisig if the escrow agent can find out who was the vendor in that transaction, and they cooperate, then together they are able to steal the funds in escrow.
The escrow service is there to ensure that the transaction is completed.
You sell something to the buyer. He sends his bitcoins to the escrow service. You send the product to the buyer. Buyer verifies receipt of the item. Escrow service releases the item to you.
If there is a dispute the escrow service becomes a judge and decides who gets the bitcoins.
The next step in Bitcoin is to use multi-signature transactions so that the escrow service never actually holds the bitcoins but can determine who will receive them.
With multisig escrow you will not have the risk that the escrow agent will take your money and run although you would have new risks. You would still risk that the escrow and the other party you are working with being the same person (unknowing to you) and the result would be that your money would be lost. You sell something to the buyer. He sends his bitcoins to the escrow service. You send the product to the buyer. Buyer verifies receipt of the item. Escrow service releases the item to you.
If there is a dispute the escrow service becomes a judge and decides who gets the bitcoins.
The next step in Bitcoin is to use multi-signature transactions so that the escrow service never actually holds the bitcoins but can determine who will receive them.
You would also risk that you or someone else has difficulty signing a multisig transaction and/or does not handle the multisig private key properly which would result in that person not being able "agree" to release the funds to the appropriate party; if both the buyer and seller are "newbies" then there is a chance that this could apply to both parties.
I already listed the three lists I found.
How to become a "professional escrow" ? I don't really know. Do what I did, take your time, do lots of trades first, gather reputation and trust, be honest, be good, don't scam, be an asset to the community, have a good credit rating.
How to become a "professional escrow" ? I don't really know. Do what I did, take your time, do lots of trades first, gather reputation and trust, be honest, be good, don't scam, be an asset to the community, have a good credit rating.
In addition to the thread you found, here is one of the main BitcoinTalk escrow threads...looks like it's undergoing a bit of a needed update, but quite a few reputable escrow providers can be found in these postings: https://bitcointalksearch.org/topic/escrow-list-108716
Interesting. You can make a quick buck off escrow services for BTC.
Multi-sig can get complex, especially for people new to bitcoin. If you are willing to put in the time to learn it, it is a good idea. However, current bitcoin client software do not easily allow you to make those kinds of transactions.
Here are three lists of escrows on this forum:
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897
https://bitcointalksearch.org/topic/escrow-list-108716
Here are three lists of escrows on this forum:
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897
https://bitcointalksearch.org/topic/escrow-list-108716
Wow you're the big 5.
btw, if you have any suggestions to become a professional Escrow? And how to get started.
basic escrow functionality
a simple schema...
read domain like everi kind of goods...
a simple schema...
read domain like everi kind of goods...
Very well explained.
This is the best answer you can get man.
good luck with the exchange
basic escrow functionality
a simple schema...
read domain like everi kind of goods...
a simple schema...
read domain like everi kind of goods...
Very well explained.
Just to point out, your options for escrows also include websites, which offer escrow services. It just helps you escrow your funds fast and easy .
What websites are safe for these escrows?
Here is a list of trusted escrow sites: https://en.bitcoin.it/wiki/Bitcoin_Escrow_Service
You can also contact certain trusted escrow members on bitcointalk for handling escrows as well. Its also advised to try out and use the new multisig escrow websites.
Just to point out, your options for escrows also include websites, which offer escrow services. It just helps you escrow your funds fast and easy .
What websites are safe for these escrows?
Just to point out, your options for escrows also include websites, which offer escrow services. It just helps you escrow your funds fast and easy .
Multi-sig can get complex, especially for people new to bitcoin. If you are willing to put in the time to learn it, it is a good idea. However, current bitcoin client software do not easily allow you to make those kinds of transactions.
Here are three lists of escrows on this forum:
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897
https://bitcointalksearch.org/topic/escrow-list-108716
Here are three lists of escrows on this forum:
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897
https://bitcointalksearch.org/topic/escrow-list-108716
Thanks dear
Multi-sig can get complex, especially for people new to bitcoin. If you are willing to put in the time to learn it, it is a good idea. However, current bitcoin client software do not easily allow you to make those kinds of transactions.
Here are three lists of escrows on this forum:
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897
https://bitcointalksearch.org/topic/escrow-list-108716
Here are three lists of escrows on this forum:
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897
https://bitcointalksearch.org/topic/escrow-list-108716
An illustration of one company's use of multi-sig escrow:
https://www.youtube.com/watch?v=M0-aZit2oI8#t=14
Thanks a ton for sharing this video
The escrow service is there to ensure that the transaction is completed.
You sell something to the buyer. He sends his bitcoins to the escrow service. You send the product to the buyer. Buyer verifies receipt of the item. Escrow service releases the item to you.
If there is a dispute the escrow service becomes a judge and decides who gets the bitcoins.
The next step in Bitcoin is to use multi-signature transactions so that the escrow service never actually holds the bitcoins but can determine who will receive them.
You sell something to the buyer. He sends his bitcoins to the escrow service. You send the product to the buyer. Buyer verifies receipt of the item. Escrow service releases the item to you.
If there is a dispute the escrow service becomes a judge and decides who gets the bitcoins.
The next step in Bitcoin is to use multi-signature transactions so that the escrow service never actually holds the bitcoins but can determine who will receive them.
Thanks dear.
I am not aware of multi signature transactions and need to read about it.
An illustration of one company's use of multi-sig escrow:
https://www.youtube.com/watch?v=M0-aZit2oI8#t=14
The escrow service is there to ensure that the transaction is completed.
You sell something to the buyer. He sends his bitcoins to the escrow service. You send the product to the buyer. Buyer verifies receipt of the item. Escrow service releases the item to you.
If there is a dispute the escrow service becomes a judge and decides who gets the bitcoins.
The next step in Bitcoin is to use multi-signature transactions so that the escrow service never actually holds the bitcoins but can determine who will receive them.
You sell something to the buyer. He sends his bitcoins to the escrow service. You send the product to the buyer. Buyer verifies receipt of the item. Escrow service releases the item to you.
If there is a dispute the escrow service becomes a judge and decides who gets the bitcoins.
The next step in Bitcoin is to use multi-signature transactions so that the escrow service never actually holds the bitcoins but can determine who will receive them.
Thanks dear.
I am not aware of multi signature transactions and need to read about it.
you can find users here that will do escrow for you some for free and some with a little bit of money.
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