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Title: Multi-sig or escrow? Post by: BlindMayorBitcorn on December 08, 2014, 03:36:53 AM Or: why escrow when there is multi-sig? Or: why not escrow _with_ multi-sig ???
Title: Re: Multi-sig or escrow? Post by: DannyHamilton on December 08, 2014, 04:44:16 AM Or: why escrow when there is multi-sig? MultiSig alone can be a problem if one party disappears before the transaction is complete. There is no way for the remaining party to acquire control of the funds. Or: why not escrow _with_ multi-sig ??? Escrow with multi-sig is a great idea. Unfortunately, there aren't any wallets that make multi-sig easy and convenient for novice users yet. Title: Re: Multi-sig or escrow? Post by: silvestar on December 08, 2014, 07:38:17 AM Or: why escrow when there is multi-sig? MultiSig alone can be a problem if one party disappears before the transaction is complete. There is no way for the remaining party to acquire control of the funds. botany, yup you are right. My bad. I somehow read the his first section and his second quote together. Title: Re: Multi-sig or escrow? Post by: botany on December 08, 2014, 08:22:10 AM Or: why escrow when there is multi-sig? MultiSig alone can be a problem if one party disappears before the transaction is complete. There is no way for the remaining party to acquire control of the funds. A 2-of-3 multisig shouldn't have this problem. Even if the escrow service provider disappears, the two parties can still discuss and clear the transaction themselves. I guess Danny was talking about MultiSig without escrow when he made the comment above. Title: Re: Multi-sig or escrow? Post by: madmax6688 on December 08, 2014, 11:01:18 AM Or: why escrow when there is multi-sig? MultiSig alone can be a problem if one party disappears before the transaction is complete. There is no way for the remaining party to acquire control of the funds. A 2-of-3 multisig shouldn't have this problem. Even if the escrow service provider disappears, the two parties can still discuss and clear the transaction themselves. I guess Danny was talking about MultiSig without escrow when he made the comment above. And even with escrow, if the buyer and escrow disappear then multisig fails. Title: Re: Multi-sig or escrow? Post by: BlindMayorBitcorn on December 08, 2014, 12:45:19 PM Or: why escrow when there is multi-sig? MultiSig alone can be a problem if one party disappears before the transaction is complete. There is no way for the remaining party to acquire control of the funds. Or: why not escrow _with_ multi-sig ??? Escrow with multi-sid is a great idea. Unfortunately, there aren't any wallets that make multi-sig easy and convenient for novice users yet. Ohhh. Thanks bro:) Title: Re: Multi-sig or escrow? Post by: HeroCat on December 08, 2014, 12:58:15 PM Escrow you can use for BTC transactions safety, when you are not sure about the deal and BTC sender. It is like in the banks, they use similar methode. Multi sig wallet is something different - it can always give you more transaction safety. Both are good services ;)
Title: Re: Multi-sig or escrow? Post by: DannyHamilton on December 08, 2014, 02:42:22 PM even with escrow, if the buyer and escrow disappear then multisig fails. True. Therefore, when choosing escrow it would be a good idea to choose someone that you trust and who you feel is reliable. Title: Re: Multi-sig or escrow? Post by: newflesh on December 08, 2014, 08:09:32 PM Or: why escrow when there is multi-sig? Or: why not escrow _with_ multi-sig ??? It's a lot easier for noobs to use a trusted escrow than it is for them to get their heads around multi-sig wallets. Hoping they get simplified in the future Title: Re: Multi-sig or escrow? Post by: SirChiko on December 08, 2014, 08:23:36 PM If you know some trustfull and active escrow then there shouldn't be problem.
Title: Re: Multi-sig or escrow? Post by: BlindMayorBitcorn on December 09, 2014, 02:58:06 AM Multi-sig is so cool tho. Maybe we need a new breed of wallets to accomodate it?
Title: Re: Multi-sig or escrow? Post by: Candystripes on December 09, 2014, 03:54:24 AM Multi-sig is so cool tho. Maybe we need a new breed of wallets to accomodate it? Greenwallet and some others already support it. |