I was asked by tbolt256, the issuer, to provide an Escrow address that is used to collect the funds for the ICO of RES Coins.
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. Dev will NOT use a shared wallet so that there is a direct track of your investment reaching the escrow address. Please check that your funds find their way from your investment address to the escrow address directly.
I will escrow the ICO with a multisig address 2 of 3. The keys are held by Dabs, tbolt256 and myself
ONLY invest after reading my terms regarding how to invest, safety I can provide and refund terms.
Who am I?I am SebastianJu an escrow on Bitcointalk since years. I am not connected to the issuer or the coin and I'm 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 EscrowThere is a minimum investment of 100 Bitcoin. If the ICO will bring in less than that then a refund will happen.
Investments go to individual user addresses and will be forwarded to the escrow address at least daily without breaking the trail of coins through a shared wallet.
Mainnetlaunch is on May the first. Once the Wallet and the RES Coins are released to the investors we will wait 7 days to see if problems arise with the wallet or Coin, then we will release 25% of the Bitcoins to the issuer. This way of handling things is useful, waiting times already stopped a number scammy ICO's from happening because there is time to show the validity of the ICO.
We will release the coins in steps according to the roadmap you can see at the OP.
This will help to provide further trust into the devs by receiving something before more investments will be released. It can help to check out if the dev can really provide what was planned.
Please note that the safety I can provide only reaches up to the point where I released the bitcoins to the issuer.
Escrow AddressThis is only an observation address, please don't send to that address directly!
This is a 2 of 3 multisig address where the keys are held by Dabs, tbolt256 and myself. This secures the ico funds even more because more people have to agree to sending coins out of the escrow address.
The escrow address is:
3MCLbWNrFbC3iCYrmN3VhUoVkYqRLwVobn
-----BEGIN BITCOIN SIGNED MESSAGE-----
040217 This is the escrow address for the ICO of RES Coins and the escrow address is 3MCLbWNrFbC3iCYrmN3VhUoVkYqRLwVobn
-----BEGIN SIGNATURE-----
1K2UFGCKyNQNx4h2m5ZRCaw9BWHTBcCZAA
HOsn7mTqlFxz8QnloBORGswZYhMWh1KpyEnkHayp3bc4Di8JPS9CBOiEaLxkJWbNh0ogOvIlHUbxsR+rQJVjXq0=
-----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 or with
https://tools.bitcoin.com/verify-message/.
Investor VerificationThis is important in case of refunds have to happen and you want your investment back. Please note that refunds are bound to a fee because of the immense amount of work a refund means for an escrow.
There 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 (Does not work with exchanges. Can't be changed anymore when you sent your investment already.):
Try to not send from an exchange. 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 that you sent bitcoins. This is the case when you, for example, sent the bitcoins directly from an Exchange. In that case it would be better to send the coins to your own wallet first and then from there to the escrow address. Your own wallet where you can sign messages with.
For information about what you need to sign a message you can check out this thread:
https://bitcointalk.org/index.php?topic=990345Second way (Works with exchanges. Can't be changed anymore when you sent your investment already.):
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 for my username. When you add the 4 last digits of your userid 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 the real investor. You wouldn't want this to happen with your investment also.
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 the (potential real) owner of that investment and for me. You would want that 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.
The fee structure is meant per investor, regardless of how many investments happened by that investor, 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!
--------------------
Info to dev:
Please post in the op something like this. You might lower the size a bit but it must be near the escrow address or the link to the investment website:
The bitcoin escrow address is ***NOT FOR DIRECT INVESTING***: 3MCLbWNrFbC3iCYrmN3VhUoVkYqRLwVobn
Please check occassionally that the escrow address in OP is the same like it is in escrow post and inform me quickly and negrep the dev if it changed.
**************
The investment is going through a website held by you, the dev. So dev please post this above the investment address the investor can see on your website.
ONLY invest after reading my terms regarding how to invest so that a refund can happen for you because you sent your investment provable. Check the safety I can provide, the refund terms and the refund fees, including the minimum refund fee: #####Link to my post#####
