Bitcoin Forum

This is for all new folks to the Bitcoin scene.

If you are going to make a purchase that is not off of a website that has escrow built into it, like buying on this forum, or in a chat on an exchange, then always Use escrow. If you are making a trade, and the person tells you that "you" will have to pay the fees, don't worry about it, there are people in this scene, that actually are legitimate and will offer themselves for escrow. Just make a topic, and ask. You will find that a lot of people here (Hero members, SR Members) will do it for you for no fees. You just need to make sure that the person is safe and trusted.

Here is a small list of escrow services that you can use as well:

http://btcrow.com/ - Only a 1.55% fee, which is very small

https://bitcointalk.org/index.php?topic=13270.0

https://abescrow.com/ - only a 2% fee.

http://btc-asia.com/ - only a 1% fee.

That 1% is a very small price to pay, for your safety and peace of mind.

I recently had a horrible expierence with a seller named Avalonlove, and lost 3BTC because of it.

So, please, and I cannot stress this enough, please always use escrow!

Regards,

--GoR--

Could you please elaborate more on escrow. What is escrow and its benefits about it. Also, how can I contact the seniors as new member cannot post other then the newbie thread?

When you make a purchase you send your btc's to the escrow service instead of sending them to the seller.

The escrow will keep your btc until you receive your goods and only then releases the funds to the seller.

Basically this is escrow.

But something must be missing because people here seem to put a lot of trust in escrow and I don't understand why.

Quick example:

You say you never received your goods.
Seller provides a tracking number showing delivery.
You claim you received a box full of bricks instead of your goods.

What will the escrow do?

Let's wait for a more complete answer because I also want to know.

It's the same with ebay, this is what I do...

I get someone to video me opening the delivery and testing it all in one take.

If I'm selling I record a video of it working, serial numbers, and packaging it up.

If there's any dispute I upload it to youtube, where the scammers name and the evidence can be seen.

By the way this crime is called mail fraud and the evidence can be used by the Police. When i tell them that they usually retract the charge back.

Hi Gator,

I know ebay is also full of scammers.

You can make the video and then post a brick with the same weight and size.

If you're acting as an escrow agent what would you do when buyer and seller have contradictory versions?

Yeah but the package is postmarked by an impartial 3rd party, you're using the tracking number to prove you sent something, if they show that postmark and that the package is not tampered with, then they open it and a brick is inside. It proves you sent a brick.

You mean the buyer also making a video when opening, right?  ???

It's a good point.

If the seller seals the package the right way it can be hard to fake on video.

Not bulletproof though...  ;D

Do people here follow these guidelines?

I do. There are a lot of horrid and cruel people in this world that will try and cheat & steal their way through life. I always (now) take the proper measures to deter this type of behavior.