Bitcoin Forum

Is the Bitcoin community ready to handle escrow transactions with a total value of ~$100,000 to $200,000 worth of BTC?
How would someone prepare to find a "trusted" escrow service who can handle six figure values?
No matter how good the reputation, you are trusting someone with a huge pile of funds. One idea is to use multiple addresses and several different escrow providers:

How would you do it, if you were planning something big?

well multisig transactions are the ultimate escrow..

and with everyone singing LN's graces even before it really "live" knowing LN is just gloried multisigs shrowded in many meaningless buzzwords..
the real question should be who would lock funds into multisig escrows (LN) and how much would they trust, and for how long..

mmmmm that is some thing make me confused. i think yes depending on the escrow experience work history and his registration. if he has done big deil before this then yes it is ok no problem. but it is a big risk too.

Well block chain will have a solution to that soon but as of now I will not transact big amounts since I'm afraid one glitch can make my bitcoin disappear. If I will have large amounts I will subdivide it in small amount s so that it is more safer. More diverse means more safe bitcoins.

"LN's graces" = Lightning Network:
"gloried multisigs shrowded in many meaningless buzzwords"
^^^
I am sometimes a fan of meaningless buzzwords.  :D


<Back on topic>

multisigs == me 'ignorant'. Does that mean you have 3 or 4 trusted parties instead of one?  (I didn't bother to google it)
What if I/we simply want to raise over $100,000 (for unique projects) without having to get ripped off (while providing escrow for investors), is that possible with Bitcoin (and the current condition of the community)?

Unless you use a multisig with like 51 of 100, you're never totally safe. We trusted Master-P, and look what happened.

OK, thanks.
For the "Legendary newbies" does that mean 100 "trusted" escrows and you hope that 51% are honest?

I'd think it's possible.
Simply enough, it is nearly the same as having escrowed the smaller amount of funds. Only this time, it is dramatically big. The question here would lie along who you would ask to escrow the funds.

Why use only one trusted escrow? There are many reputable people out there who could do this as a joint effort and they could split that amount into smaller pieces. The multi sig option a good

alternative, if you want to go that route. Then again, some services out there has only dealt with small amounts, and the big carrot... could just tempt them to close shop and run. We are still in

untested waters here, and it remains to be seen, what these escrow services will do with big amounts like that.  ::)

yeah, I agree. transaction with high amount is too risky. just think possibilities can happen. and of course the most important thing is don't trust people in 100% if you are planning something big.