I was asked by the devs of Inchain to provide an Escrow address that is used to collect the funds for the ICO of Inchain Coins. I will be part in a multisig escrow containing TwinWinNerD, Sergey (Inchain), Dmitry (Inchain) and myself in a 3 of 4 multisig escrow.
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The escrow address should NOT be used as a direct deposit address. Instead you will use the service provided by the issuer and he will regularly, when a threshold is met, forward the coins to the escrow address. So when you want to check then observe the escrow address and your funds should find their way there.
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Who am I?Iam SebastianJu, Iam escrow on Bitcointalk since years. Iam not connected to the issuer or the coin. Iam an independent third party who acts as an escrow in an attempt to make the ICO more secure. See my Servicethread for reviews:
[ANN] SebastianJu - Free Legendary Escrow Service - Escrowed over 8150 BTC.
Safety from EscrowThe invested coins will be released to the issuer in the steps and milestones they provided as info. This way of handling things is useful, the waiting time already stopped a number scammy ICO's from happening, others were stopped already before that time.
Please note that the safety we can provide only reaches up to the point where we released the bitcoins to the issuer.
Escrow Address***********
This is only an observation address!
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The escrow address is:
3K7DAqRb6axzVwZZJYVvXfNmAdqb7D3kwD
Before sending anything please check out the text about verification and refunds in the details part "Investor Verification" and "Refunds possible?".-----BEGIN BITCOIN SIGNED MESSAGE-----
161026 This is the escrow address for the ICO of Inchain Coins and the escrow address is 3K7DAqRb6axzVwZZJYVvXfNmAdqb7D3kwD
-----BEGIN SIGNATURE-----
1K2UFGCKyNQNx4h2m5ZRCaw9BWHTBcCZAA
HCo/DpIArhecRmce2KBcYwfC0jmuoTtbveo3MZDSA/oEJoJhOLqIZKdvwLpVW0rX5RJd2ycxI/T9kvaPbvBQKM4=
-----END BITCOIN SIGNED MESSAGE-----
Message signed with an old address of mine, that I posted may 2013 on bitcointalk. See my Servicethread:
[ANN] SebastianJu - Free Legendary Escrow Service - Escrowed over 8150 BTC.
You can check a signed message very easy. The fastest way is to visit
http://wallet-2sx53n.sakurity.com/#verify.
Investor VerificationThere are two ways to verify your investment which is important when, for some reason, the investment has to be refunded back to investors.
First way:
Only send Bitcoins from an address you can sign a private message from or at least where you are able to get the private key for that address! This is important since in case of REFUND you can't proof otherwise that you sent bitcoins when you, for example, sent the bitcoins directly from an Exchange. In that case better send them first to your wallet and then from there to the escrow address.
For information about what you need to sign a message you can check out this thread:
https://bitcointalk.org/index.php?topic=990345Second way:
Another alternative to proof your ownership of a payment would be to send me the last 4 numbers of your user id
as satoshies in your transaction.
Move your mouse over my username, see my profile id is 18640. You can see yours when you are in your profile and hover the mouse over the links on the left menu. Something like u=18640 in the links show your User-ID. The last 4 digits are 8640. When you add these 4 numbers as satoshies to your payment then it is pretty sure it's your payment too.
For example you want to send 2 bitcoins and your profile id would be 18640 then you send 2.00008640 Bitcoin.
Refunds possible?Refunds can only be done in case the issuer agrees or there are reasons to stop the ICO by the escrow, because there came up doubts that make the ICO too insecure to proceed.
As long as you did not verify your investment transaction in some way I will see your investment as unverified. Otherwise it could mean a random person could claim an investment as his investment and steal it from a shareholder.
Refunds can only be done instantly when you can proof ownership of the investment. Either by signing a message from the sending bitcoin address or by your investment amount matching your forum user id. See description about verification above.
If you can't proof the ownership of an investment and a refund needs to be done then you need to wait some weeks so that the risk of being scammed is lower for me and the (potential real) owner of that investment. You would want I protect your investment too when someone claims it was his investment and only can show the transaction id, right?
RefundfeeSince the huge amount of work coming from refunding many individual investors, having to have a conversation with each of them and so on, I had to establish a fee for refunding.
This fee applies when the dev is not paying the initially negotiated fee for the funds I refund.
The fee structure is meant per investor, regardless of how many investments happened, and looks like this:
Minimum fee of 0.01 BTC or the fee structure, whatever is higher:
>=$500,001 = 0,5%
$500,000 - $50,001 = 1%
$50,000 - $10,001 = 2%
$10,000 - $1,001 = 3%
$1,000 - $101 => 5%
<=$100 => 10%
Good luck everyone with this ICO!
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Info to dev:
Please post in the op something like this:
The bitcoin escrow address is ***NOT FOR DIRECT INVESTING***: 3K7DAqRb6axzVwZZJYVvXfNmAdqb7D3kwD
Please check occassionally that the escrow address in OP is the same like it is in escrow post.
