Ok, so my understanding is that Multi-sig escrow can effectively provide the ability for a 'chargeback' in the case of a 2 of 3 wallet with one party being say, a Coinbase as the arbitrator. See the situation below assuming a 2 of 3 transaction with a theoretical merchant processor in the middle:

1.Alice wants to buy shoes and sees the shoes she wants on bob's online store
2.Alice send Bob 1 BTC
3.Bob see's the Payment and sends the shoes in the mail.
*Bob has not been paid yet as Coinbase need to sign it?*
4.Alice wants to return the shoes as they did not fit. Alice sends back the shoes.
5.After Bob confirms receipt of shoes Coinbase sign the transaction to reverse it and probably take a small fee.
6. Alice gets her money back and Bob takes a fee for the handling costs.

So.....Bob does not get actually get paid until step 6 correct? What if a merchant prices their goods in fiat (like everyone), if they the handling fee in BTC and the BTC price has dropped 20% they've lost out. Bob has to send the goods without actually receiving the payment?

Maybe I'm not explaining it correctly but how can Escrow function well if the funds are sitting there in BTC for an extended period of time, no merchant will use that.

Hi all,

I am doing some research for a Bitcoin company that is interested with developing a hardware wallet to see if it has a viable market. Trezor has some traction, but perhaps only in the existing Bitcoin community. With things like Multi-sig popping up everywhere, do you think this negates some of the pressing need for Hardware wallets? Interested to hear your thoughts.

So we all know BTCjam. Ok cool it's a great idea, P2P loans anywhere in the world through Bitcoin etc. However as you may know, most people who have actually used BTCJam have been subject to a fairly high rate of delinquency even from people with 'B' and 'A' credit scores (myself included). Let's get some ideas flowing on the best way to incentivise good players in this system as It's the only way Bitcoin can really grow in this space. A company setting up such a service can't be expected to have a legal presence in nearly every jurisdiction in the world or if it limits it to certain countries it defeats the purpose of it all.

Ideas?

I'm doing some research for a friend and am looking for some numbers regarding customer sign ups per month at whatever bitcoin exchanges have released that data. I remember a while back someone like Bitstamp mentioned 'thousands' of new people signing up a month had caused a delay in verifications. Any more specific info out there on how many people are actually signing up to exchanges these days? That can mean new accounts or verification.

So when they say trading fees are like 0.3% they're actually making 0.6% a trade?

There was a thread on the forums a while back that listed the security features every exchange should adhere to as a gold standard. Can anyone find it?

So.....the problem is that there are no ways to fund the exchanges on the mainland, what if you use a Hong Kong bank account or if BTCchina or OKcoin setup in HK? They can have an RMB denominated account which is available at most institutions and use that. Any problems here?

*Mainlanders sending RMB to HK
*Bank is located in HK
*Deposits/Withdrawals can be received and processed without being subject to the rules on the mainland.

Ok, so there is alot of hype surrounding the potential here, we all know about how bitcoin makes it cheaper to transact cross borders, especially for migrant workers sending small sums of money home, but I have a few questions.

Is this doable now and if so how?

So its easy to get the BTC to anywhere in the world, but for the person who is sending their $200 home to say, India (somewhere with low bitcoin penetration), how does the person in India cash out that $200 in the local currency? Would it be a matter of:

Two people, Person A is sending money to Person B.

1. Person A deposits cash at bank with reference code
2. That money is received, the bitcoin exchange buys an amount of BTC equal to that dollar value
3. BTC is sent to receiver in the destination country who then needs to find a buyer for that BTC to hand cash to the Person B

So it's step 3 where we have the problems now in an underdeveloped market (somewhere with low bitcoin penetration), BTC for remittance can't work there until there are buyers for that BTC. Is there any other way to do it? Maybe cash balances are held in both countries at specific banks, the dollars are sent and the BTC bought for a price 3% above market, then based on exchange rates the appropriate value is ready for collection by person B and the BTC is sold on the market thereby making the 3% premium above market as the commision.

But this can be done without bitcoin, so I guess it brings me back to my previous example....the only way to send remittance at the moment to markets not served by bitcoin and by using bitcoin as a money transmission mechanism we still need to involve traditional banks.

Thoughts?

Hi,

I am looking to sell my BFL ASIC Minirigs, currently mining with 1T/H (2 x 500gh) with 500g/h to follow. Price is 35k USD in BTC. Using Escrow services by John K. Please only serious offers may apply, you can see my ad on the BFL forums https://forums.butterflylabs.com/classifieds-478/ Please PM for more details.

btctraderr

Hi all,

Please see my thread on the BFL forums here https://forums.butterflylabs.com/pre-sales-questions/4643-selling-minirig-upgrade-preorder-16th-ooctober-2012-a.html with current screenshot of my cart. This is my account on the BFL forums, please PM me or post in this thread, I have already received some interest and would like to progress further. Any suggestions for the most reputable escrow?

Thanks.

Hi,

When I try to withdraw BTC on BTCe I get this error, has anyone had this before? I have no idea what this is as I usually have no problem with BTCe....

Exactly as the title reads, address is correct, tried multiple times on different addresses, still no luck. Give me my money MTgox! Anyone had similar problem?

So I have used Crytoxchange a few times in the past, mainly for arbitrage and being in Australia it is the cheapest way to buy BTC. But recently it seems things are taking forever and I simply do not trust them anymore.

So today I find their HTTPS certificate is out of date and also their phone number listed on the website is apparently disconnected (after I tried ringing and got a automated voice saying it was disconnected). I try to use the live support function while logged in but thats a 404...I am still waiting for $250 I withdrew a week ago and there are some huge arbitrage opportunities recently but I simply do not want my money tied up there for too long.

Do you still use these forums Cryptoxchange? What can you say for the above?

Taking offers, if not reasonable I will hold onto it. Looking for 350BTC. Payment / details using a reputable escrow most likely.