Today i was shocked to see that master-p scammed 24 BTC post on scam accusations board and it was hard to believe that because he was one of the 5 top escrowers. But now he is paying back,i think things are settling up now as he is
PAYING THEM BACK.
Well today am making this thread to write up what i have think so that in future it doesnt happens again.It may be look down as wierd from the escrowers point of view. But it is for the safety of the parties out there trusting escrowers
NOTE :- Whatever i am writing below is what i think about how escrow service should work basically so I might not be able to pick up some things correctly and may get there something wrong. So please correct me up!! . And i really hope users out there to read my post carefully and comment whatever you guys think out there
1){SECURITY MONEY}ESCROWER should submit amount(max. amt that he can hold trade dealing at a time) in BTC to staff or admin . Like say, X is an escrower and he wants to open an escrow service and suppose he pays up 1 BTC to staff or admin then he can only hold up trade dealings to the extent of 1 BTC (computing up all the values of btc and goods or any consideration send over to the escrower by all the parties). Now if the the dealing so complete then escrower can again escrow up the consideration to the extent of the security money submitted.
2)ESCROWER should submit the details of ongoing trade dealings and status of the dealing.
3)ADMIN or STAFFS should make a thread of all the escrowers available with the security money amount corresponding to their names and update it accordingly.
4)Also the parties should submit the details of the dealings to ADMINS or STAFF.
HOW IT WILL HELP:-
I am quite sure that after this mishap. there will be more scammers which will start up their own escrow service and later on will end out scamming the fund he had in his/her escrow addy. So this will end up the scam and fake escrow services if comes.
Also parties will feel safe as in case if someone scams he/she can get his fund from the security money holded up by ADMIN or STAFF .
Also 4th point is compulsory one , like if a fake party comes on claiming that he/she had given BTC to the escrower then we can crack him.
In case if a escrow service comes without giving security money to the ADMIN or STAFF, then i think he should be given a red trust.
~I might not be a good demonstrator but i guess you all got it well. Whatever above is how it should work like. I just only geared up my brain and went through this solution..
Also an important advice to SELLER of any bitcointalk.org forum accounts to please tag in a neutral feedback to the account which he solded with date and btc price and message containing that he is no longer the holder of the account.
Like say : I am X(Seller) and Y(Buyer) and Y won the auction bidding 0.1BTC for the forum account Z(that i holded mean X) then I (X) will give a neutral feedback to the account Z like this " xx-xx-xxxx(date) , (amt. of BTC) i am now longer the holder of the account"
Also selling of account and giving up of neutral feedback here should be done from different accounts so that other bidders dont track that account and give up a negative feedback .
I think DT escrowers currently right now are very honest and still we can trust them , so i dont think that my above escrow guideline should work on them or whatever as you guys think..
~please comment only if you read it whole
