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Title: Example of an Escrow Service - THANK YOU Post by: ANON.PURGED on May 21, 2015, 10:27:30 AM Im really confused about Escrow.
IDK much about it. Can anyone please tell me what is an escrow ? Why they are being used in marketpalce. Give some examples please Title: Re: Example of an Escrow Service - THANK YOU Post by: dogie on May 21, 2015, 10:36:53 AM Two parties (A and B) who do not trust each other still want to make a trade. A is not willing to send his money first, and neither is B willing to send his goods first. Instead, A and B mutually can trust C, a third party escrow. A sends his money to C, who will hold it while B sends A the goods. Once A confirms receipt of B's goods, he will tell C to release the money to B.
In the event of a dispute, C will arbitrate and may eventually be asked to make a decision. Title: Re: Example of an Escrow Service - THANK YOU Post by: Muhammed Zakir on May 21, 2015, 10:40:57 AM See dogie's post. Like this, many people who buy/sell items in this forum don't trust buyer/seller. So they use a reputable member who they both trust to escrow the trade to avoid problems.
See - http://en.m.wikipedia.org/wiki/Escrow - http://www.investopedia.com/terms/e/escrow.asp - https://bitcointalk.org/index.php?topic=997414.0#post_faq See https://bitcointalk.org/index.php?topic=855778.0 for a list of Bitcointalk escrows. Title: Re: Example of an Escrow Service - THANK YOU Post by: ANON.PURGED on May 21, 2015, 10:41:53 AM Two parties (A and B) who do not trust each other still want to make a trade. A is not willing to send his money first, and neither is B willing to send his goods first. Instead, A and B mutually can trust C, a third party escrow. A sends his money to C, who will hold it while B sends A the goods. Once A confirms receipt of B's goods, he will tell C to release the money to B. In the event of a dispute, C will arbitrate and may eventually be asked to make a decision. OHHHH Like this? https://i.imgur.com/th1dcLs.jpg But, Where to find an Escrow Agent? Can i build an escrow service? How ? Is there any requirments? edit: How does Escrow Service work ? Do escrow agent pming each other (Seller and Buyer) ? or They are using Instant Chat Service Title: Re: Example of an Escrow Service - THANK YOU Post by: favdesu on May 21, 2015, 10:48:45 AM Can i build an escrow service? How ? Is there any requirments? Everyone can. search this forum, there are a lot of private escrows. What you need is trust, good luck. Title: Re: Example of an Escrow Service - THANK YOU Post by: coinpr0n on May 21, 2015, 10:52:40 AM [...] But, Where to find an Escrow Agent? [...] Muhammed Zakir (above) already linked you to the thread where you can find an Escrow agent: https://bitcointalk.org/index.php?topic=855778.0 Title: Re: Example of an Escrow Service - THANK YOU Post by: Honeybooboo on May 21, 2015, 10:56:33 AM Can i build an escrow service? How ? Is there any requirments? edit: How does Escrow Service work ? Do escrow agent pming each other (Seller and Buyer) ? or They are using Instant Chat Service The main requirements are being trusted and an active member of the community. You can only build this up over time by doing lots of trades and being very active. I wouldn't even attempt to start an escrow service any time soon because it will probably look bad on you and people have no reason to trust you especially when we have many other trusted escrows. Title: Re: Example of an Escrow Service - THANK YOU Post by: ANON.PURGED on May 21, 2015, 11:00:13 AM Thank you guys! I finally know what escrow mean
http://www.investopedia.com/terms/e/escrow.asp Special Thanks to that site |
