I think the most obvious question that most people are going to ask is, why?
Why would you want to setup as an escrow? Is it to make money? If so, that seems like a very hard way to go about making money... there are plenty of escrows that are either free or with very small margins. How do you propose to compete with such low fees? Also, without high levels of trust and reputation, it will be difficult to find customers willing to use your service anyway.
If you are wanting to setup an escrow business to simply help the community... then while I admire your desire to try to help... there are already plenty of services here that already do it quite successfully and having another one, just makes it more muddled and confusing for someone looking for an escrow service, thereby possibly not helping the community at all.
Good luck
Its been explained. If one can develop a 24hours a day escrow via automation then he or she call kill it here. No longer will there be a wait while one is trying to find an escrow and when its time to release the funds you wont need to wait for the escrow to get home, wake up, finish work, check his pm ect.
Woah I was out of the loop here. Could you please explain to me how this scenario could be automated?:
User1: selling physical good xyz
User2: I'll buy it for 0.02
BTCUser1: deal. Send the funds to automated escrow address 1SHiTiDeADuRpXXXXXxxxXxxdurp
User2: sent {TXID}
User1: did you get it?
User2: No.
User1: I sent it though. Here's proof: tracking number 123456789
User2: ya well I didn't get it. Refund me.
User1: no way
User2: yes way
User 1: I'm telling the automated escrow
User2: me too.
Automated escrow:------DOES NOT COMPUTE-----Funds sent to burn address----
The end.
