Topic: Looking for [ESCROW] service for an anonymous crypto project (Read 681 times)
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If "you and your trusted guy" are needed to control funds, your investors lose everything in case you disappear. Wasn't escrow supposed to eliminate that risk?
First of all, I would like to thank you for asking the question. It gives me an opportunity to explain a bit about the responsibility of the escrow team.
The reason behind the escrow fund management is to eliminate the risk. We want to ensure our investors that the money they are investing in the project is going to use to benefit the project in every aspect. The money is safe, locked and will only be in use once there will be a need to spend.
Let me explain it a bit better:
Assume we are running a twitter promotion for the project. We have 1000 participants who are promoting the project for the week. Each will get paid 0.004BTC for the job.
If the work has done 100% then after a week we owe them 4BTC. After checking the spreadsheet we will forward the list to the escrow team. I.e MultiSig Wallet1 and in that case person A, C and me will sign the transaction. The money is going directly to the participants.
The escrows will basically hold and manage the money for long time, we are currently thinking about 2 years term (It’s not final yet though). After every possible job done the escrow team will get the bill to pay the expense. I hope it make sense.
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Feel free to ask anymore question if you have.
Thank you
First of all, I would like to thank you for asking the question. It gives me an opportunity to explain a bit about the responsibility of the escrow team.
The reason behind the escrow fund management is to eliminate the risk. We want to ensure our investors that the money they are investing in the project is going to use to benefit the project in every aspect. The money is safe, locked and will only be in use once there will be a need to spend.
Let me explain it a bit better:
Assume we are running a twitter promotion for the project. We have 1000 participants who are promoting the project for the week. Each will get paid 0.004BTC for the job.
If the work has done 100% then after a week we owe them 4BTC. After checking the spreadsheet we will forward the list to the escrow team. I.e MultiSig Wallet1 and in that case person A, C and me will sign the transaction. The money is going directly to the participants.
The escrows will basically hold and manage the money for long time, we are currently thinking about 2 years term (It’s not final yet though). After every possible job done the escrow team will get the bill to pay the expense. I hope it make sense.
-----------------------------
Feel free to ask anymore question if you have.
Thank you
Quote from: inPRIVACYweBELIEVE link=topic=5089762.msg49034032#msg49034032 date=
Consider the ⅔ multiSig wallet. A and B and Me hold each key. What about A and B plan to move fund without my knowledge. I lose my investors fund and the project is dead.
If "you and your trusted guy" are needed to control funds, your investors lose everything in case you disappear. Wasn't escrow supposed to eliminate that risk?
Please address this
Quote
Assume -
: MultiSig Wallet1 3/3
:: A, B = 1st key 1st seed
:: C, D = 2nd key 2nds seed
: MultiSig Wallet2 3/3
:: E, F = 1st key 1st seed
:: G, H = 2nd key 2nd seed
: MultiSig Wallet3 3/3
:: I,J = 1st key 1st seed
:: K, L = 2nd key 2nd seed
Two member will share same seed-
It’s necessary. If one has issue then other can act. Assume person A and B is holding the same seed for their MultiSig wallet.
:Person A will create the seed and key
:Person A share the seed and key with person B, using PGP encryption.
Person A and B each have to trust each others.
Person A, C, E, G, I, K will have the choice to pick their partners (B, D, F, H, J, L respectively) to share the seed and key.
Issue with ⅔ multiSig:
Any two party can arrange an internal deal and move the fund.
“If it's known to anyone else, it should be considered compromised, and if funds ever get stolen, you can't even know who was involved and who's innocent.”
Consider A and B for MultiSig wallet1. B leaks the seed to C or D but none of them can not move the fund because me and my trusted guy is holding the third seed and key. Secure for my investors?
Consider the ⅔ multiSig wallet. A and B and Me hold each key. What about A and B plan to move fund without my knowledge. I lose my investors fund and the project is dead.
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“I'd run something like 4/6 instead”
Can you explain how it should work?
: MultiSig Wallet1 3/3
:: A, B = 1st key 1st seed
:: C, D = 2nd key 2nds seed
: MultiSig Wallet2 3/3
:: E, F = 1st key 1st seed
:: G, H = 2nd key 2nd seed
: MultiSig Wallet3 3/3
:: I,J = 1st key 1st seed
:: K, L = 2nd key 2nd seed
Two member will share same seed-
It’s necessary. If one has issue then other can act. Assume person A and B is holding the same seed for their MultiSig wallet.
:Person A will create the seed and key
:Person A share the seed and key with person B, using PGP encryption.
Person A and B each have to trust each others.
Person A, C, E, G, I, K will have the choice to pick their partners (B, D, F, H, J, L respectively) to share the seed and key.
Issue with ⅔ multiSig:
Any two party can arrange an internal deal and move the fund.
“If it's known to anyone else, it should be considered compromised, and if funds ever get stolen, you can't even know who was involved and who's innocent.”
Consider A and B for MultiSig wallet1. B leaks the seed to C or D but none of them can not move the fund because me and my trusted guy is holding the third seed and key. Secure for my investors?
Consider the ⅔ multiSig wallet. A and B and Me hold each key. What about A and B plan to move fund without my knowledge. I lose my investors fund and the project is dead.
-------------------------------------------------------
“I'd run something like 4/6 instead”
Can you explain how it should work?
I an only agree with LoyceV, it is not a good look and I can't ever see myself work under such conditions.
What Darkstar_ suggests is a very safe and secure procedure, 4/6 would be the way to go IMO.
What Darkstar_ suggests is a very safe and secure procedure, 4/6 would be the way to go IMO.
Do you need help marketing this?
We have a change for the escrow team. Instead of 2/3 multiSig, we have decided to go with 3/3 multiSig wallet.
Each key will have two owner. These two will share the same interest. We have this thought other day that what if one owner have any issue in real life? So, we figured out to have a backup escrow member for each key. I hope it makes sense. The owner will also have someone else as a backup key and seed owner.
Each key will have two owner. These two will share the same interest. We have this thought other day that what if one owner have any issue in real life? So, we figured out to have a backup escrow member for each key. I hope it makes sense. The owner will also have someone else as a backup key and seed owner.
I'd run something like 4/6 instead
We have a change for the escrow team. Instead of 2/3 multiSig, we have decided to go with 3/3 multiSig wallet.
Each key will have two owner. These two will share the same interest. We have this thought other day that what if one owner have any issue in real life? So, we figured out to have a backup escrow member for each key. I hope it makes sense. The owner will also have someone else as a backup key and seed owner.
That leaves us to look for 3*2 = 6 * 2 = 12 members for our escrow team.
I think the bold part is a very bad idea, and I can only hope no escrow will accept this condition. A private key is supposed to be private, not shared (online). If it's known to anyone else, it should be considered compromised, and if funds ever get stolen, you can't even know who was involved and who's innocent.Each key will have two owner. These two will share the same interest. We have this thought other day that what if one owner have any issue in real life? So, we figured out to have a backup escrow member for each key. I hope it makes sense. The owner will also have someone else as a backup key and seed owner.
That leaves us to look for 3*2 = 6 * 2 = 12 members for our escrow team.
If one of the escrows has an issue in real life, a 2-of-3 signature allows the other two to sign.
I'm also interested but currently not feeling well so if you need an escrow very urgently (next day or two), I will pass.
Would also need more info as well.
Would also need more info as well.
I may also be interested in helping depending on the nature of the project. I'm a huge proponent of anonymity but want to make sure that the project is/would be legal in my country of residence.
Interested, but would need more info on the project 
Thanks
Thanks
Hello DarkStar_, nomadcrypto, minerjones,
There are no hurry. Since we will be anonymous, we want to use the escrow for our project to ensure that the funds of our investors are safe. We want to be very transparent about their investments.
We are setting up our team, platform, project plans which surely will take time. In the mean time we are also looking for escrow as well. We hope by the end of this month we will find our desired number of escrows. Our priority is to pick the most reputed and trusted members from here. We want to trust them and I hope they will also feel proud to work with us.
We have a change for the escrow team. Instead of 2/3 multiSig, we have decided to go with 3/3 multiSig wallet.
Each key will have two owner. These two will share the same interest. We have this thought other day that what if one owner have any issue in real life? So, we figured out to have a backup escrow member for each key. I hope it makes sense. The owner will also have someone else as a backup key and seed owner.
That leaves us to look for 3*2 = 6 * 2 = 12 members for our escrow team.
I understand everyone is looking for more details about the project. This is a forum based marketplace. They are also planning to create a decentralized exchange, decentralized gambling platform and few more integrated applications which will be user friendly like all these centralized exchanges and gambling sites.
I will PM DarkStar_, nomadcrypto, minerjones.
Please feel free to leave a comment if you are interested to work with us.
Thanks
I'm also interested but currently not feeling well so if you need an escrow very urgently (next day or two), I will pass.
Would also need more info as well.
Would also need more info as well.
I may also be interested in helping depending on the nature of the project. I'm a huge proponent of anonymity but want to make sure that the project is/would be legal in my country of residence.
Hello!
I read your post in my thread, feel free to PM me with further details. I'll gladly take part and help out in any way I can
.
I read your post in my thread, feel free to PM me with further details. I'll gladly take part and help out in any way I can
.Hello Hhampuz, Please check your PM.
Shoot me a message if you need assistance with bounty management, as for the escrow, I'd recommend DarkStar_
I am going to manage the bounty and other bitcoinTalk related deals. Thanks for your interest. I will contact DarkStar_. Thanks again.
If you're still looking for escrow agents, try to check thread where all trusted Bitcointalk escrow agents are listed:
https://bitcointalksearch.org/topic/few-trusted-escrow-providers-5047302
Good luck with your project!
https://bitcointalksearch.org/topic/few-trusted-escrow-providers-5047302
Good luck with your project!
Thank you. I will personally contact them one by one. This was really helpful.
If you're still looking for escrow agents, try to check thread where all trusted Bitcointalk escrow agents are listed:
https://bitcointalksearch.org/topic/few-trusted-escrow-providers-5047302
Good luck with your project!
https://bitcointalksearch.org/topic/few-trusted-escrow-providers-5047302
Good luck with your project!
Hello!
I read your post in my thread, feel free to PM me with further details. I'll gladly take part and help out in any way I can.
I read your post in my thread, feel free to PM me with further details. I'll gladly take part and help out in any way I can
. 
Shoot me a message if you need assistance with bounty management, as for the escrow, I'd recommend DarkStar_
I can help with this. But, i'm going to need a bit more clarification as to what exactly you're going to need me to do.
We are working to set up 3 escrow team for three 2/3 multisig wallet. One key will be held by the admin himself for each wallet. If you are selected then you will be one of the team member and you will hold another key from any of the three wallet.We are anonymous but we don't want our investors feel insecure with their funds. We are still working on the escrow terms and conditions. We will share the terms with the selected escrow parties first. After review and necessary modification we will make it public.
As an escrow you will be monitoring our progress and release the funds according to the escrow terms as the project progress.
Hook me up with this! I'll be your escrow guy!
Now you are in check list that soon will receive a negative feedback. This is a serious project. Don't bother tho.
I can help with this. But, i'm going to need a bit more clarification as to what exactly you're going to need me to do.
Visit this thread: https://bitcointalksearch.org/topic/hhampuz-campaign-management-escrow-service-promotions-available-now-5079097
I vouch this user will be trusted, he's the one you're looking for, he's an old reputed forum member here as well.
I vouch this user will be trusted, he's the one you're looking for, he's an old reputed forum member here as well.
Hook me up with this! I'll be your escrow guy!
Hello 8CommaClub, no disrespect nothing personal, we are looking for old reputed forum members only to trust with our funds. Thank you for your interest. Jump to: