What is escrow and how does it work?

[ridgeback]

Hi,

I've mine a few altcoins and would like to trade some through the forum. But it feels unsafe to just send the coins somewhere without guarantees. But I've read a lot about escrow, how does that work here?

[1714836646]

1714836646

[MartinReynolds]

It's where a trusted user holds one end of the deal, and then you send the other part of the deal to the user you're trading with and when you both confirm it went well the Escrow gives the other part of the deal to the user. In the event one of the users tries to lie, then they can use the Blockchain to find out if they sent or not.

[escrow.ms]

Find someone trusted here, then you give him money to put it on escrow, when  2nd party gives you whatever you want escrow will release money to 2nd party.

[ridgeback]

How do I find that trusted person?   

[MartinReynolds]

How do I find that trusted person?   

JohnK is a good place to start.

[coldwaterbeacon]

 There is a list of trusted escrow users around here somewhere.

[dimension708]

 I am thinking of starting an escrow service, will pm you if I do.

[DannyHamilton]

There is a list of trusted escrow users around here somewhere.

https://bitcointalk.org/index.php?topic=108716.0

[ridgeback]

Great stuff, thank you!