Bitcoin Forum

The idea:
I'm doing these kinds of escrows for a long time already. Recently a user suggested making a thread for it.

Why put coins in escrow?

⇒ Gambling bans etc. don't work.
There is nothing to stop you from gambling coins away for real.
Even giving your codes to a friend etc. won't work. What will he do if you ask him 3 times a day? ...

⇒ No ragebets anymore. I've seen too many gamblers throw away their limits, going nuts after losing their "play stash" and depositing the rest of their coins.

⇒ The solution is to lock them away for a fixed time period with no way to access them until the agreed upon time period has ended.

Here's how it works:
⇒ You send me a PM telling me what you need or post on the thread.
⇒ Agreed time etc. will be posted in public in a different thread together with the address to send back to after the period ends
⇒ Thread will be locked right away to stop editing

Changing between cold storage and investments
⇒ is possible once per period
In case you decide to get out of a dice site and have it all stored in the cold wallet for example.

Fee:
I have to require some kind of fee to make up for the time spent organizing this. This fee is a low 0.9%.

You can also contact me via PM if you need a different kind of escrow or want to stay anonymous.

Edit:

Trust:
A few posts came up questioning my trust on Bitcointalk. I mod for PRCDice.eu currently. You can ask the users on there if you want to. Or click my "trust" link and click "untrusted feedback". The current trust system only "counts" a few members towards the visible display.
Of course you don't have to use the service, it's meant to help people since I see them lose their coins on a daily basis.
My way of "giving back" after being an investor back on JD. (although under a different nick for the sake of my privacy)

Nice idea but one thing that bothers me.
Using this service is in itself a gamble that the person is going to get their coins back.

Of course they have to trust me, but I'm "in the scene" for a long time now.
I'm also a mod over at PRC. (Investments can be made in any site of course, your coins your decision.)


This was requested a lot so I've decided to make a thread for it. It's supposed to help people, not make money off em.  

Seeing people lose everything never gets easier. This is the only way to really help them.

You have not much activity and no trust so I wouldn't trust you.

@Babba D
Too hard for an addicted gambler.

If people would think 100% rationally, I agree. Way to go.

Wait, no.

Why gold? We want to hodl Bitcoins, right?

@humble77
You have to actually click "trust" with the new trust system and click "untrusted feedback". Only trust from a few people "counts" towards visible trust.

I've not been on Bitcointalk a lot that's right, created an account when I ran the sig campaign for PRCdice.eu.

Put them in a safety deposit bock paper wallet at least you cant get to then on sundays  :)

@vipgelsi
I can get to mine whenever I want. Heck, I pay for them haha.
Whatever. What about the rest of the week? :P

I am going to step forward and state that I have never seen May do anything questionable in the time I have known him online.
He seems quite trustworthy and I'd vouch for him and his honesty. (Granted my trust rating is destroyed until I pay back klyemax investors)

May I would like to start using your service in order to preserve BTC I am receiving from a few projects / sources as to not gamble it away.
How do we go about doing this?

I was thinking about:

- creating a new thread under service discussion (or elsewhere if anyone has a better suggestion)

- you post your 1. address to send back to 2. time period 3. if cold storage or invested somewhere

- I reply with an address on my own so it's all on blockchain

- I lock the thread to make it uneditable

Open for suggestions of course. Think this is the safest way though. (because not editable)

I wouldn't go as far as to lock the thread.. Just have the person you are holding onto coins quote your confirmation of received message and post TXID so public record is kept imo.

1. 1ART8MzPqABmqWz4SsaKLZfrwb9HjNF5dv
2. 1 week from today (September 21st, 2014)
3. Cold storage

I am sending .01 BTC for now. I will be sending more as I receive it for safe keeping.

What address can I send to?

Alright with me.

KLYE cold wallet: 1Ng9EQiAGR9USkFiTeai7jzrAhLaVUdzFo
Conditions as in quote.

Cheers

TXID: https://blockchain.info/tx/9245e7ab561a3756ff37a261bbd616c904eaa7da1e9b8b1bfe603b1768d5e00a

Thank you for the service May. If I end up sending more I will post TXID here to confirm.

Using a multisig escrow would be a lot safer. That way, if PRC_May dies, goes to jail, scams, etc. the owner of the coins doesn't lose them.

Multisig is not really straight forward to use in my opinion.
This needs to be fast and easy to be effective. Especially with people like KLYE (no offense :D).
The easier it is for him to use the service the more likely he'll actually use it. Not just KLYE but anyone.

Failsafe is in place.

People like KLYE?! What's that supposed to mean? Surely you are referring to my glorious artworks!
 ;D

Of course of course :D

You'll get those 25 coins with your new project in no time and then some!

We just need some gargantuan dick branches pledged for. :D

Why not just send the coins to yourself with nLockTime and throw away the private key associated with the origin? Any time after nLockTime you can submit that transaction and reclaim your coins

Several reasons.

1. It needs to be easy and fast. It doesn't get easier than sending coins to a trusted escrow.
2. Throwing away a key? Really think anybody would do that while on the casino rush?
3. It's not only about not accessing them, some like them to be invested in swaps (especially if its a lot of coins 100+) or in the site they're playing on (JD was a relatively good investment back then)
etc etc

A whale just busted 70 coins today even though he pledged hard not to do it. (And he busted before. It repeats..)

Edit: Example: one additional transaction when earning bitcoin/buying/etc. to the escrow cold wallet (like KLYE does now) is so easily done the chances that people do it are much higher than anything else.

Throwing away a key and giving it to you are basically the same thing.

If a person would give it to you while on a "casino rush", they would do the same by locking themselves out.

You have some trust, but not enough. I could trust you with amounts under 0.2 BTC, but when you are talking about whales, I don't think anyone in their right mind would "lock" 10+ BTC with you.

This is actually a really good idea May.

I can vouch for him never doing anything shady. He's legit!

I had May hold 1btc for me awhile back and he returned it to me quickly when asked. It was for a similar reason, me not wanting to gamble with it. May is one of the only people in the BTC community that I would have trusted in that way, and he didn't let me down!

I offer the same service. Upper limit is 1BTC
Service charge: 1% per month.

I don't really think anyone is going to give me anything, though. I never cheated anyone and don't want to. But i don't think anyone trusts anyone in the bitcoin community. :(

I know May longer than I know most people online. He offered to hold my coins but I declined thinking I could stop gambling. Soon after I lost all my BTC  :'(

This is not about Bitcointalk so much. The dice guys know each other anyway for the most part.
On bitcointalk there are almost only scammers so it's understandable.

Thanks for the comments guys!

for sure it's interesting idea, big problem here is trust and it will always be like this. No guarantee money would wait for us later

People trust me because they know me. People vouch for me.

Why does every Bitcointalk thread have to be a pain. It repeats and repeats and repeats the same things over and over.

Sent back KLYE's small deposit according to terms. 623e10153161e6b4771ff694c95549c79059130ec8be324c651eaee6fd4da428

Since the bitcoin community in general, especially bitcointalk and the gambling scene just consists of trolls and scammers I will not offer this service anymore. I'm doing these kinds of escrows since 2013 but the experience on bitcointalk has been a horrible one. This is nothing more but a trollcave.
In addition all the dice/gambling sites and their owners made it worse. Dooglus etc. just trolling like little kids. A new drama on a daily basis. There is no community. People just leech off each other wherever they can.

I might occasionally check PM's but if you really need to reach me you know how to anyway.

Cheers

Received the .01 I sent you to hold onto! thanks sir.

Its a competitive industry this dice scene and alot of bad blood lately within it.. A shame really.

Thanks again sir. Leaving + rep!

Uv gave me negative trust for no reason, haha.
I held 1 BTC for rob you frickin troll.

Not that it would matter. I did 200+ BTC escrow because people trust me. But whatever.

One more reason to leave this shithole for good.

IMO the real reason to leave this shithole for good is nLockTime



I read a lot of nLockTime but haven't seen any proper implementation of this.  I get this question all the time, but usually a more noble reason - like "I want to store coins for my kids" 

nLockTime!

"I don't want to fire off the rest of this bankroll"

nLockTime till tomorrow, yo!

IMO Mike Caldwell or better would need to write us mere mortals a hand-holdy program, but IMO it would be useful in the gambling world, the real "self-ban" in bitcoin space.

People can't read.

You can't invest coins doing so. Most people want their coins invested in one of the crowdfunded sites or bfx or anything else.

You're also out of luck if BTC crashes and you want to convert to USD quickly. People asked me to do that before. Actually just recently...