Selling 2747 Lisk. Update: Come May 9th, ICO accounts CANNOT reset private keys

[ThePatient]

I have an ICO account with 2747.x LISK.
I will sell the login information as well as the login information for the email used in connection to the ICO account.
You can then change both passwords.
I am asking 4.1205 BTC (which is .0015 btc per lisk)

As you can read here:
https://blog.lisk.io/lisk-ico-passphrase-generation-validation-deadline-461a012d11ce#.6ea6j05bf

I cannot get new private keys starting May 9th.



However, if I can get a buyer within the next few hours.
Then they can send btc to escrow. I send escrow login details.
Escrow sends login information to Buyer.
Buyer requests for a reset of private keys....now only THEY will have access to ICO account as well as new private keys.

I am not sure how to go through with the deal after May 9th, as I'll still have the private keys even if I don't have access to ICO account.
But we might be able to work around it.

[olarsson]

How does buyer buy LISK when there is no LISK wallet to recieve LISK into?

[ThePatient]

How does buyer buy LISK when there is no LISK wallet to recieve LISK into?

Buyer gives escrow the btc.
Come launch day buyer downloads wallet/gets a deposit address somewhere.
Escrow retrieves lisk from seller's passphrases.
Escrow sends lisk to the wallet the buyer has now set up.

Neither buyer will get their lisk nor seller their btc until launch day.
But we can keep btc/passphrases with escrow once we agree on a price.

Only risk is that seller chooses not to go through with it and gets new passphrases.
Escrow would give buyer back their btc.
Both escrow and buyer would give seller negative-trust....and I don't want bad ratings.

[SiNeReiNZzz]

How does buyer buy LISK when there is no LISK wallet to recieve LISK into?

you get a private key (for wallet, when released) from the ICO, and you can use them after the lunch of lisk...

[ThePatient]

How does buyer buy LISK when there is no LISK wallet to recieve LISK into?

you get a private key (for wallet, when released) from the ICO, and you can use them after the lunch of lisk...

Well, to protect buyer from seller getting new passphrases, this wouldn't happen.

Instead, escrow would have the private key and escrow would get the lisk themselves... then send it to the buyer.
That way seller can't screw anyone over.

[olarsson]

How can escrow hold LISK is that a feature added recently? Shouldnt accounts on Yobit that pre-trade with LISK be able to receive and hold LISK?
Are LISK holders able to send their LISK to excrow pre-launch?

[ThePatient]

How can escrow hold LISK is that a feature added recently? Shouldnt accounts on Yobit that pre-trade with LISK be able to hold LISK?

Let me try to clear up your confusion:

Lisk has not yet launched. Lisk had an ICO where people sent in btc and got "passphrases/private keys" with which they can redeem the actual coins when lisk launches. ICO buyers have the passphrases as well as the knowledge as to how many lisk the passphrases can retrieve.

Yobit claims to have bought lisk during the ICO and has since been trading "lisk IOU tokens."
Meaning, the people who buy lisk on yobit are only buying a random token which they are told yobit will exchange/convert the token to real lisk in a 1:1 ratio, once real lisk launches.

The lisk team is not involved with that at all. For all we know yobit is full of shit. Maybe they are, maybe they aren't. Idk.

There are  no wallets for lisk out yet and no real lisk coins out yet.

The problem people have been having is that if they sell their passphrases to a buyer, then they can claim they lost the passphrases and devs will give them a new one. Meaning they will have the buyer's btc as well as working passphrases to retrieve lisk.

As described in this thread, I will be giving the escrow the information (passphrases) needed to access real lisk once it launches.
The buyer would give escrow the btc.
Everyone waits until lisk launches then escrow gets real lisk and sends to buyer who creates a deposit address.
Then escrow sends btc to seller.

So escrow is only holding information and btc, not lisk until it actually launches.

[ThePatient]

There is no such thing as a "lisk holder" right now.
There are only people with lisk-related-information (i.e., the passphrases that will be used to obtain lisk).

So to recap:
Seller gives escrow valuable information and buyer gives escrow btc.
When real lisk is launched, escrow uses the information from seller to get the lisk and send it to buyer, while also sending btc to seller once everything goes smoothly.

[olarsson]

So which escrow service do you suggest for pre-launch LISK transactions? Do you have a link or some other info?

I dont know which "escrow" you all are talking about? Is it some special service with a company and domain name or are you talking only about a  general concept in which a third part holds buyers and sellers assets.

[AikoniA]

Can the price lowered?
and can i buy the lisk at small amount?

[SebastianJu]

I can provide escrow though in order to understand it fully I have some questions and some concerns.

I think I had to deal with a similar ico from a coin that gave out passphrases. Maybe it was lisk, I forgot. The problem is, a seller can hedge with selling. Like you say ThePatient, the seller is in a favorite position. He could potentially back out, sell to another user when the worth of the lisks rise very high. Or force the buyer to buy when the worth drops.

Well, you have an account that is worth a bit but enough to back the lisks worth?

Anyway... I would prefer not to install another wallet in order to prevent risks of malware and such. So When I received the coins and the passkey... on real ico I could directly use the lisk address of the buyer that he told me and ThePatient in a group pm, right? Or is there a problem with that?

Otherwise, let me know. If the lisks worth is more than $1000 I can offer multisig escrow 2 of 3 too. It's a bit more complicated for all parties but it's easy enough with electrum.

[ttookk]

Maybe the seller could send a certain amount of btc to the escrow as well. If the deal goes through, the seller gets all the btc, if not, the buyer gets his_her btc back plus the btc of the seller.

[ThePatient]

I can provide escrow though in order to understand it fully I have some questions and some concerns.

I think I had to deal with a similar ico from a coin that gave out passphrases. Maybe it was lisk, I forgot. The problem is, a seller can hedge with selling. Like you say ThePatient, the seller is in a favorite position. He could potentially back out, sell to another user when the worth of the lisks rise very high. Or force the buyer to buy when the worth drops.

Well, you have an account that is worth a bit but enough to back the lisks worth?

Anyway... I would prefer not to install another wallet in order to prevent risks of malware and such. So When I received the coins and the passkey... on real ico I could directly use the lisk address of the buyer that he told me and ThePatient in a group pm, right? Or is there a problem with that?

Otherwise, let me know. If the lisks worth is more than $1000 I can offer multisig escrow 2 of 3 too. It's a bit more complicated for all parties but it's easy enough with electrum.

First, thank you for volunteering as escrow.

In regards to not having to download another wallet, I'll ask the lisk guys about that tonight. I'm not sure, but would think so.

~2747.X Lisk at .002 = 5.494 BTC, so yes it'll be worth more then $1000.

Unless your account, SebastianJu has been taken over by a scammer--which is always a possibility, I feel safe working with you.
So I would not need multisig escrow, unless buyer wanted to.

And as someone else had brought up, yes. I could indeed give SebastianJu btc of my own to ensure that I would not back out, but I'd rather not as most of it is tied up in various alt-coins that I'd rather not pull out of right now. Though, if buyer is absolutely adament about this, I suppose I could. What would be a fair percentage of 5.494 btc to give to SebastianJu to hold?

The only real risk buyer assumes (provided he trusts SebastianJU) is that his btc will be tied up for a for weeks. He will no doubt get his btc back if I pull out (which I won't) or the Lisk once everything goes through smoothly.

[ThePatient]

Can the price lowered?
and can i buy the lisk at small amount?

Question #1: No, sorry (though, with that said, making offers doesn't hurt)


As for question #2, I'd prefer not to work with numerous buyers as that would entail more work for SebastianJu, which would mean more possibility of error/something going wrong.

If he's ok with it, I'd be willing to sell at most 2 batches of the lisk.
So buyerA can buy 1373.5 lisk---which SebastianJu would send to buyerA and if there is no buyerB to buy the second half, then he'd send me back the remaining lisk.

[SebastianJu]

We can handle it the way you suggested.

Be cautious of posting more than one post after another while wearing a signature. You can get banned for it.

[ThePatient]

Updated OP