Bitcoin Forum
October 16, 2018, 05:05:24 AM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: I didn't want to do this. BTC Guy has not shipped or responded to me in a week.  (Read 3825 times)
TangibleCryptography
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


Tangible Cryptography LLC


View Profile WWW
September 08, 2012, 04:57:48 PM
 #21

I actually wont trade with anyone called BTC(insert name) now after this, Have you noticed these users coming on that registered a year ago with no activity until now?

sorry, I'm just a conspiracy theorist.

You can trade with anyone you want.  Just use a trusted escrow agent.  Bitcoin being irreversible is about trust.  If you don't completely trust the person you are trading with you shouldn't send first.  However if they don't completely trust you they shouldn't send first.  Simple solution is use somebody you both trust.
1539666324
Hero Member
*
Offline Offline

Posts: 1539666324

View Profile Personal Message (Offline)

Ignore
1539666324
Reply with quote  #2

1539666324
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1539666324
Hero Member
*
Offline Offline

Posts: 1539666324

View Profile Personal Message (Offline)

Ignore
1539666324
Reply with quote  #2

1539666324
Report to moderator
1539666324
Hero Member
*
Offline Offline

Posts: 1539666324

View Profile Personal Message (Offline)

Ignore
1539666324
Reply with quote  #2

1539666324
Report to moderator
1539666324
Hero Member
*
Offline Offline

Posts: 1539666324

View Profile Personal Message (Offline)

Ignore
1539666324
Reply with quote  #2

1539666324
Report to moderator
JoelKatz
Legendary
*
Offline Offline

Activity: 1582
Merit: 1004


Democracy is vulnerable to a 51% attack.


View Profile WWW
September 09, 2012, 03:00:11 AM
 #22

You can trade with anyone you want.  Just use a trusted escrow agent.  Bitcoin being irreversible is about trust.  If you don't completely trust the person you are trading with you shouldn't send first.  However if they don't completely trust you they shouldn't send first.  Simple solution is use somebody you both trust.
I don't see how that works. I guess I've never understood escrow. How do they deal with these cases (assume you're buying a video card):

1) Coins are sent. Package is sent and tracked. Recipient refuses package, saying he opened it in front of the delivery guy, it was empty and the delivery guy allowed him to refuse receipt even after he opened it. Sender says he got the package back and it was empty but that he shipped the video card. What does the escrow agent do? The shipper may have put the items in the package and the receiver removed them and then refused the package, in which case the coins should go back to the sender. But it's also possible the shipper shipped an empty box, in which case the coins should go back to the recipient.

2) Coins are sent. Package is sent and tracked. Recipient says item was not as described and mails it back to the sender. Sender says he received back an inferior item with a different serial number. What does the escrow agent do?

I am an employee of Ripple. Follow me on Twitter @JoelKatz
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218
Merit: 1005


Gerald Davis


View Profile
September 09, 2012, 03:05:48 AM
 #23

Depends on the terms of the escrow generally there are two routes: arbitration and no-recourse.

In no-recourse moving the funds requires consensus of both parties.  There is no economic value in pulling a scam.  You can pull a scam but you will never get paid.  You rep takes a hit and you get nothing for it.  The net value is a loss. 

Escrow doesn't need to be absolute scam proof it simply needs to raise the cost of a scam to the point it isn't worth it.
JoelKatz
Legendary
*
Offline Offline

Activity: 1582
Merit: 1004


Democracy is vulnerable to a 51% attack.


View Profile WWW
September 09, 2012, 04:52:32 AM
 #24

In no-recourse moving the funds requires consensus of both parties.  There is no economic value in pulling a scam.  You can pull a scam but you will never get paid.  You rep takes a hit and you get nothing for it.  The net value is a loss.
Not true. In a no recourse, you say to the other person, "Approve the 10 BTC to me and I'll send 8 of them back to you. Otherwise, you get nothing." There's every incentive to pull a scam, you might get money and you have nothing to lose.

Quote
Escrow doesn't need to be absolute scam proof it simply needs to raise the cost of a scam to the point it isn't worth it.
If it raises the cost on the victim, that doesn't help.

I've yet to see a model that raises the cost on only the abuser and ensures that the abuser is not better off for having pulled the scam. Perhaps you know some combination of escrow rules and who pays when that I don't.

I am an employee of Ripple. Follow me on Twitter @JoelKatz
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
Coinoisseur
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250



View Profile
September 09, 2012, 06:44:35 AM
 #25

Escrow adds cost even to honest transactions. That cost can be justified if the escrow service has decent scam protection in the form of reliable arbitration. It's interesting that there does not seem to be much in the way of this kind of service available for online transactions, that I'm aware of. Probably ripe for some grad student papers.

                                                                               
                
                                                       ╓▄▌██P                  
                                                 ╔▄▌███▀███▌                   
                                           ▄▄▌██▀▀╚  ╓██╩██                    
                                     ▄▄███▀▀╙      ▄██  ▓█                     
                               ▄▌███▀▀+          ▄█▀   ▐█                      
                        ,▄▌███▀▀¬              ▓█▀     █▄                      
                  ,▄▌███▀▀                  ,██▀      █▌                       
               '█████▌▄▄,                 ╓██╩       ██                        
                  ▀██▌▐▀▀▀█████▌▌▄▄╓    ▄██¬        ▄█                         
                     ▀██▄        ╚▀▀▀████          ▐█═                         
                        ▀██▄        ▓█▀██          █▀                          
                           ▀██▄  ,██▀   █µ        ██                           
                              ▀███Z     ██       ██                            
                                ▐██     ▐█      ▄█                             
                              ,,╓╓█▓▄▌   █▌    ▐█U                             
                        º▄▓▓▓▓▓▓▓▓▓███   ▀█    █▌                              
                          ▀█▓▓▓▓▓████▀█▌  █▌  ██                               
                            ▀███████▌  ▀█µ▀█ ██                                
                              ▀█████     ███▓█                                 
                                ▐███      ▀██Ñ                                 
                                            ▀                             

SysRun
Hero Member
*****
Offline Offline

Activity: 616
Merit: 500


Portland Bitcoin Group Organizer


View Profile
September 10, 2012, 04:01:15 AM
 #26

Yikes, looks like he chose his spot to get out of dodge.

Images are not allowed. As your member rank increases, you can use more types of styling in your signature, and your signature can be longer. See the stickies in Meta for more info.
Max 2000; characters remaining: 1781
aznjack31
Full Member
***
Offline Offline

Activity: 124
Merit: 100


View Profile
September 11, 2012, 04:11:24 AM
 #27

BTC guy offered to refund me the coins in his thread. I'll update the thread with more information as I get it.

54Gh/s bASIC Bitcoin Mining Devices
Pre-Order Yours Today!     
Only $1069.99 ! @ http://www.BitcoinASIC.com
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!