FromCtoSolidity
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January 13, 2019, 08:34:22 PM Last edit: January 13, 2019, 09:04:38 PM by FromCtoSolidity |
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Why is escrow such a big discussion here? I see a few problems with it and therefore did not implement escrow in my online store. My biggest problem is that I don’t know what to do with the payment upon escrow’s expiration. Once I place payment in escrow, it becomes buyer’s responsibility to go back to the store where goods were purchased and acknowledge the receipt of the goods so that payment could be released to the seller. When I buy things online, I rarely acknowledge their receipt, partially because I know that a lengthy survey about customer experience will be waiting for me right after I acknowledge the receipt. So what shall I do on my web site when buyer simply didn’t bother to acknowledge receipt of the items? Shall I release payment to the seller anyway? What if courier service has gone on strike and buyer has not received the items upon escrow’s expiration? Should seller receive the payment in this case? In all scenarios that I can think of the only case when payment should be returned to buyer is when seller doesn’t ship the goods. In all other cases escrow is merely a delay.
My second question is why this discussion implies that escrow is a third party business, like a paypal? I use Ethereum to facilitate payments on my web site. To disburse payments among sellers of items from a buyer’s cart I prepare a contract and upload it onto Ethereum network. That contract is perfectly capable of holding payments until buyer acknowledges receipt of the items acting as an escrow. Therefore I do not see a need for a business entity to provide such service.
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Reinsurer
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January 16, 2019, 08:44:24 PM |
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Much has changed since the creation of this discussion. escrow why so much attention ??
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samsonmow
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January 18, 2019, 05:25:16 AM |
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There is another flood of conceivable tricksters, People who purchase up incredible records and exchange untill they have huge whole of cash at that point run, This has been finished with an extremely confided in record as o
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samsonmow
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January 18, 2019, 06:22:05 AM |
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There is another flood of conceivable tricksters, People who purchase up incredible records and exchange untill they have huge whole of cash at that point run, This has been finished with an extremely confided in record as o
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alraop94
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February 06, 2019, 01:16:39 PM |
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Good morning, I'm new here and I started buying mining recently, what do you recommend that I buy? I had a rare experience with a company that took me longer than normal to send my miners and I have now seen another one that seems very new, is redbag.io, what do you think? What do you recommend me?
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ruffidea
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April 12, 2019, 03:49:53 PM |
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100% escrow. Totally safe and reliable, plus a ready made audit trail. Our site https://fabric-direct.co.uk only uses sagepay, not even paypal anymore - too buggy with disputes taking ages to resolve.
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bitcoinuser12345
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June 14, 2019, 12:38:52 PM |
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Ensure it's a reliable escrow service, scammers has are getting smarter.
^This right here. I experienced this first hand with a fake escrow. Thankfully it was just a few dollars.
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SpeedminerNow
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June 19, 2019, 08:43:40 PM |
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Good morning, I'm new here and I started buying mining recently, what do you recommend that I buy? I had a rare experience with a company that took me longer than normal to send my miners and I have now seen another one that seems very new, is redbag.io, what do you think? What do you recommend me?
I tried buying there, but payment methods do not work and they do not reply to mails. Don't waste your time there.
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NoFace01
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September 03, 2019, 01:36:31 PM |
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Traders should also beware of people pretending to be someone else. Many people have been scammed because they traded with the wrong person, this is very common on Telegram now. Some pretend to be admins and ask you to send a token, most genuine admins would not ask for your tokens. Please let us be alert and trade carefully.
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Johnnymining
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December 25, 2019, 08:04:31 PM |
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Hey guys! I’m sorry if I posted wrongly. Does anyone bought something from this site or know anything about them https://rp9mining.com/ ? They have pretty good prices and I don’t know if they are legit or scam, haven’t found much about them.
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SFR10
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Crypto Swap Exchange
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December 26, 2019, 01:46:56 PM |
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Hey guys! I’m sorry if I posted wrongly.
The appropriate board is " Service Discussion". Does anyone bought something from this site or know anything about them https://rp9mining.com/ ? They have pretty good prices and I don’t know if they are legit or scam, haven’t found much about them. I did a little digging and looks like they have fake reviews on their website + they're quite new on this field [I wouldn't trust them, stay away]... WHOIS search resultsDomain Name: RP9MINING.COMRegistry Domain ID: 2413645759_DOMAIN_COM-VRSN Registrar WHOIS Server: whois.ordertld.com Registrar URL: http://www.ordertld.comUpdated Date: 2019-12-09T10:49:16Z Creation Date: 2019-07-16T19:53:52Z Registry Expiry Date: 2020-07-16T19:53:52Z Here's a fake review prior to the creation date of their website: FusionSilicon X7+ fake review [December 25, 2017]- I'm sure there's more...
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JamesHollister
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March 19, 2020, 06:56:01 PM |
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Stickied. I've seen enough scams happening without the use of escrow. Also, escrows increase the amount of trust a seller/buyer conveys, and thus increase the possibility of sales for newer members.
I think there is a simple way around this with the market maturing. A couple of financial service providers now issue a Visa or Mastercard directly linked to your Bitcoin holding. I have one from ClariumCard.com which I use everywhere, and any pruchases I make reduce my bitcoin balance in real time. Eliminates falling prey to scammers who steal your coins.
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Daveprofile
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October 04, 2021, 09:27:03 AM Last edit: October 04, 2021, 10:11:22 AM by Daveprofile |
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In my opinion an Escrow feature is on of the safest feature you can employ if you are trading with someone over a considerable distance you are not acquainted to. Escrow features have saved the day many times for me. A useful tip would be for you to research on how long the escrow platform has existed and if there have been any record of people getting compromised on that platform. Secondly, I would also recommend the escrow platform has an attach screenshot feature so that when transfers are made, proofs can be attached for all parties involved to see before digital assets are released. Happy Trading!
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Jory_zhou
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October 21, 2021, 10:22:13 PM |
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Yes. It is best to do this for the safety of funds My business partner and I participated in Ethereum chain mining at CoinBase Wallet. In order to expand the market and provide better services to customers, CoinBase has to spend a lot of money to do this. I can get at least 1% compound interest every day through CoinBase Wallet
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whitepunk
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August 26, 2022, 06:32:28 PM |
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Hi Guys,
Be very careful of a new forum member on here named "YCTMatt". He has photos of some friend he has in China with miners, but is a scam. Several folks have sent him BTC for miners and got nothing in return except for fake tracking numbers. Mods need to do something about this ASAP. He also locks the thread so no one can respond in his thread. Buyer beware guys! Buyer Beware
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SFR10
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Crypto Swap Exchange
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August 27, 2022, 07:37:13 AM |
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Several folks have sent him BTC for miners and got nothing in return except for fake tracking numbers.
I'm going to "temporarily" leave a negative rating on YCTMatt, but if you're in contact with other buyers, tell them to create a thread on the " Scam Accusations" board and include all of the necessary information [e.g. I've seen one of them has included a Tx link, but there's no proof it belongs to the user in question] together with a " Trust flag", so we can support it. Mods need to do something about this ASAP.
Unfortunately, they can't do anything since such things aren't moderated in this forum: 19. Possible (or real) scams and Trust ratings are not moderated (to prevent moderation abuse). ~Snipped~ Q: Why haven't you banned <insert scammer username here> who is an obvious scammer? A: Possible (or real, not for me to decide) scams are not moderated to prevent moderator abuse. If we start picking out which ones we call "scammers" and ban, we would make a lot of decisions based on biased opinions.
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piercekieran99
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August 04, 2023, 08:12:11 PM |
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Mad respect for raisin awareness about scams and all. If even a couple of people listen up and start usin' escrow, you've done a stellar job bro!
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Gun Boat
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August 21, 2023, 11:53:26 AM |
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Nitpick: Prevention is better than a cure.
Prevention is indeed better than cure.its always more effective and efficient to take proactive measures to prevent problems before they arise, rather than dealing with the consequences later. Taking preventive actions can save us a lot from time, efforts,and resources in the long run.
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wallet4bitcoin
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December 02, 2023, 03:01:26 PM |
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Well said by OP, it is better to be safe than sorry!
These days, one can not tell who is what and who is capable of what and in this industry where pseudo-anonymousity is the order of the day, it is important to safeguard your asset and resources in the cause of any transaction.
People tend to appeal to your emotions and at the end of the day it becomes a goose chase. When it comes to money and transactions within this forum or another, ensure escrow is employed but you also have to be careful about whose escrow service is been used.
The escrow service must be trust worthy and reliable also as men have also taken that line of scam in the quest for making money.
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Silver005
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February 05, 2024, 11:55:37 AM |
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Thank you so much for your update and advise as well,but I still need if you can still break it down for us the newbies so that we can understand it better and avoid being a victim of this scammers, because we the newbies are still finding it difficult to participate in this crypto currency transaction, please if you can enlightening us more and make it more easy for us to understand your point on how to go about it to avoid being a victim of the scammers please.. thank you once again..
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