Topic: Would you put 200% of the cost of a Item in escrow? - page 2. (Read 1615 times)
This is called double deposit escrow and basicly how bitHalo works
200% and the seller also have to put up the full price, and then loosing all if there's an argument 
?!? That's insane. The most basic interest of the escrow is driving as much deals to failure as they can 
.
To be honest, I've seen people here getting scammer tags (negative trust nowadays) for much less than this business model.
?!? That's insane. The most basic interest of the escrow is driving as much deals to failure as they can .To be honest, I've seen people here getting scammer tags (negative trust nowadays) for much less than this business model.
They have a huge pitcher of koolaid they are drinking in bitbay, and its got them plum stupid on the matter.
But the called me ignorant for bringing up the problem "cause I just don't get it" lol
200% and the seller also have to put up the full price, and then loosing all if there's an argument ?!? That's insane. The most basic interest of the escrow is driving as much deals to failure as they can .
To be honest, I've seen people here getting scammer tags (negative trust nowadays) for much less than this business model.
?!? That's insane. The most basic interest of the escrow is driving as much deals to failure as they can .To be honest, I've seen people here getting scammer tags (negative trust nowadays) for much less than this business model.
Just to elaborate on my 'No' vote: I had a look at the BitBay escrow system, and my first thought was that this is simply not going to fly. I do not believe that anyone will be willing to put so much on the line in an escrow system, especially if you lose the escrow amount if a deal falls through.
The idea behind it is a good one, to establish an eco-system of trusted buyers and sellers, but getting people to make the first steps needed to build up a trustworthy rep under this system is going to be very difficult, I reckon.
The idea behind it is a good one, to establish an eco-system of trusted buyers and sellers, but getting people to make the first steps needed to build up a trustworthy rep under this system is going to be very difficult, I reckon.
I talked to syscoin about it they were going to use the same system. Know what they said, good point we will fix it and add another option. Check out syscoin escrow options much better.
Just to elaborate on my 'No' vote: I had a look at the BitBay escrow system, and my first thought was that this is simply not going to fly. I do not believe that anyone will be willing to put so much on the line in an escrow system, especially if you lose the escrow amount if a deal falls through.
The idea behind it is a good one, to establish an eco-system of trusted buyers and sellers, but getting people to make the first steps needed to build up a trustworthy rep under this system is going to be very difficult, I reckon.
The idea behind it is a good one, to establish an eco-system of trusted buyers and sellers, but getting people to make the first steps needed to build up a trustworthy rep under this system is going to be very difficult, I reckon.
What's the argument for the system?
Its super duper safe... no middle man.. no fee's.
What's the argument for the system?
trustless. I am trying to prove to bitbay, the average user will not and can not afford to use such a system. They are high on some sort of kool aid and refuse to listen.
Not only that if you are a merchant and have 100 items for sale at .25 btc a piece you have to escrow 25BTC. Does that sound usable to you?
There answer so far is... we will have only trusted sellers so there will be no need for escrow
Not only that if you are a merchant and have 100 items for sale at .25 btc a piece you have to escrow 25BTC. Does that sound usable to you?
There answer so far is... we will have only trusted sellers so there will be no need for escrow
Need some more votes
Been talking to some people about escrow, one of the systems requires users to put the cost of a item in escrow time two.
For instance you buy a miner for 5BTC you must put 10BTC into escrow.
The seller is also required to put up the cost of the item into escrow.
If you and the other person do not agree you and the seller lose all the coins to the escrow system. So the system would get 15BTC from the dispute.
Would you use a system like this?
For instance you buy a miner for 5BTC you must put 10BTC into escrow.
The seller is also required to put up the cost of the item into escrow.
If you and the other person do not agree you and the seller lose all the coins to the escrow system. So the system would get 15BTC from the dispute.
Would you use a system like this?
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