Noob question about btct.co | Bitcointalksearch.org

Zander

newbie

Activity: 5

Merit: 0

Thanks for the information sampson,
I guess then it comes down to weather or not you trust the moderator in charge. Ill have to look more deeply into how to verify information and reputation. But thats a different thread. The thing that worries me is that the two sites btct and bitfunder seam very new. Im sure this is because of the recent fall of the original stock exchange that traded asicminer shares. Id like to put more trust in btct as I am somewhat familiar with burnside's reputation, though i could be wrong.
Good luck

samson

legendary

Activity: 2097

Merit: 1070

Quote from: MikkisJ on May 20, 2013, 06:06:42 PM

Hello, I've read a little bit on the site and forums, but haven't found an aswer.

How does the site works if I want to buy shares? It looks like I cannot see who is selling stocks, just the amount and price. Is it still safe that way? Does the site verify that the user who sells actually have stocks? Do I need to use some additional escrow service?

The stocks are already owned by the seller on the exchange when they are being sold.

It doesn't matter who's selling them as they are all guaranteed to be delivered by the operator of the exchange.

Once you list a share for sale it's locked in a kind of escrow already as the seller can't do anything else with it until he removes the ask at which point it's no longer for sale.

So escrow is built in.

MikkisJ

member

Activity: 126

Merit: 11

Hello, I've read a little bit on the site and forums, but haven't found an aswer.

How does the site works if I want to buy shares? It looks like I cannot see who is selling stocks, just the amount and price. Is it still safe that way? Does the site verify that the user who sells actually have stocks? Do I need to use some additional escrow service?

Topic: Noob question about btct.co (Read 384 times)