How to secure a account as a escrow? and etc?

notlist3d

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Quote from: jacktheking on June 28, 2015, 03:09:48 AM

So, I saw this topic - https://bitcointalksearch.org/topic/how-do-i-become-an-escrow-1092372 - and most of the replies (I think "all") is telling us how to prove ourselves trustworthy. However, no one actually posted what is the process a escrow must do. Such as securing a account which was handled as a collateral. Can someone please explain what is the process a escrow should do here? How can a escrow secure a account? How can a escrow make sure another part have send the payment? and etc?

Be careful with this. As there are many ways they could ask for it back.

If you were to take an account I would make them stake an address they have used before on the forums so people know it's original owner. Then have them sign a message about it as collateral.

After that I would make sure no secret question on account, change email, and just hold it like that as collateral.

Derrike

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And also he will be using different btc address for every new deal.

noel57

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If an escrow want to secure the account in his custody, he will change the email and the password of such account including the phone verifications.

arallmuus

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Quote from: jacktheking on June 28, 2015, 03:09:48 AM

Can someone please explain what is the process a escrow should do here?

Escrow helps to secure a trade . With escrow , you dont have to worry that that you wont get something your things after you delivered yours to the other party

Quote from: jacktheking on June 28, 2015, 03:09:48 AM

How can a escrow secure a account?

Escrow secure account by first verifying a sign message from an address related to the account, this is to prove if the account isnt a hacked account. Secondly, escrow will need to change password, secret question and the email associated to the account this is to prevent the previous owner into acquiring back his account through forgot password feature.

Quote from: jacktheking on June 28, 2015, 03:09:48 AM

How can a escrow make sure another part have send the payment? and etc?

Escrow cant do that. Best thing for account trade is that escrow secure both account and BTC for the payment and deliver them both to the buyer and the seller. Escrow will first secure the account from the seller ( see above on how to secure account ) and verify the information related to the account such as post , activity and trust if it is matched with the description of the account that is being sold.

After making sure that the previous owner will not be able to get back his account, Escrow provide a payment address for the buyer ( his own address not the seller's address ), buyer fund the address with the amounts that has been agreed upon . After it reaches 1 confirmation, escrow will release the account to the buyer and ask him to change the account passwords and such. Escrow makes sure that he will not be able to access the account again then after that release the payment to the seller

for references to see wether password has been changed or not https://bitcointalk.org/seclog.php

dezoel

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by verifying a sign message from the address that used to sent the payment maybe, and for how are escrow holding the account, better ask to escrow directly..

jacktheking

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So, I saw this topic - https://bitcointalksearch.org/topic/how-do-i-become-an-escrow-1092372 - and most of the replies (I think "all") is telling us how to prove ourselves trustworthy. However, no one actually posted what is the process a escrow must do. Such as securing a account which was handled as a collateral. Can someone please explain what is the process a escrow should do here? How can a escrow secure a account? How can a escrow make sure another part have send the payment? and etc?

Topic: How to secure a account as a escrow? and etc? (Read 684 times)