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November 08, 2016, 01:55:27 PM |
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I would like to know why no one ever uses a multisig wallet for escrow (eg for selling goods or service). The way I see it, it could be setup as 2 of 3 wallet, with the buyer, seller, and an trusted member here. That way, the buyer can create this multisig wallet with the buyer and someone here to act as a 3rd party, send the funds there, and the seller can send or deliver their goods or service, and once complete and everything is verified to be complete, the buyer and seller could either sign the amount, or the trusted member and the buyer, and vise versa. Not saying that a member here who have trading history in regards to being an escrow would just run away with the btc, its just something to make sure all parties are protected in away, and if there was ever some type of dispute between the buyer and seller, the 3rd person could possibly look into seeing who is right and who is wrong then go from there, instead of having one or the other taking the coins and leave.
EDIT: Sorry if this is the wrong place to ask this question.
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