Coinlenders Debtors & Creditors. Why not pay in to escrow?

[posormo]

All,

Not sure if this is a stupid idea or not.   But for those still making payments.  Would it make sense to ask them to redirect their repayments to an escrow service for holding until such time that TradeFortress is more transparent about the balance sheets?  At which point they can be dispersed to the remaining creditors in an even handed manner.   Why leave all the power in the hands of an untrustworthy individual.  Why should he be permitted to conduct his own bankruptcy.

Just a thought.

[ninjaboon]

escrow ?
that's what I have.

20 NOV 2013, Featured on e27:
http://e27.co/challenges-and-opportunities-for-bitcoin-startups/

[The 4ner]

All,

Not sure if this is a stupid idea or not.   But for those still making payments.  Would it make sense to ask them to redirect their repayments to an escrow service for holding until such time that TradeFortress is more transparent about the balance sheets?  At which point they can be dispersed to the remaining creditors in an even handed manner.   Why leave all the power in the hands of an untrustworthy individual.  Why should he be permitted to conduct his own bankruptcy.

Just a thought.

Great point!

[halfawake]

As someone who is owed money by TradeFortress, I fully support this idea.

[naphto]

As someone who is owed money by TradeFortress, I fully support this idea.

What happened to the money in coinlenders exactly?

[halfawake]

As someone who is owed money by TradeFortress, I fully support this idea.

What happened to the money in coinlenders exactly?

Well, if you trust TradeFortress's word, Inputs.io got hacked and he lost 4100 bitcoins.  A lot of people don't buy what he was saying and think he just ran off with the money.  That he was actually keeping that many coins in a hot wallet at all is just downright bad business practices in bitcoin given how many hacks have occurred in the past. 

In an ideal world, this would suck for Inputs.io wallet holders, but people who only had money in Coinlenders CDs wouldn't be affected.  He kept money for both sites in Inputs.io wallets, however, so the hack affected both sites.

[strello]

Putting any debts owed to TradeFortress into escrow at least until he starts to communicate about the situation is a great idea.

Is there any trusted member in the community who is willing to offer this service?

Apparently he isn't even attempting debt recovery  :

https://bitcointalk.org/index.php?topic=283756.msg3776620#msg3776620