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Author Topic: BTCrow.com - Bitcoin Escrow Service - For safer bitcoin transactions  (Read 21192 times)
BTCrow
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June 25, 2011, 05:19:36 PM
 #21

The bad point of this is I don't want to receive drugs and other illegal goods into my country, so if someone sell something illegal and it's intercepted to duty, then I don't want my escrow take the blame. So this can be great or not, I'm thinking about it.

Maybe saying something about it in the terms or service could make people refrain from it. Like "If goods are found to be illegal, they will be reported to the authorities".

yes that's what I was thinking Smiley.
Just want to make everyone happy at the same time of not getting into trouble.

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BTCrow
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June 25, 2011, 10:04:46 PM
 #22

Mail server up, I'm doing some modification to the escrow service right now. If you experience problems let me know.

Also there's someone who tried the service and didn't claim back his bitcoin (I say that because saw test into the product description) if it's really a test let me know if everything is ok for you.

Thanks

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June 26, 2011, 11:54:28 AM
 #23

You spelled "How it work" wrong, should be "How it works", or better "How BTCrow.com works"

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June 26, 2011, 02:37:54 PM
 #24

You spelled "How it work" wrong, should be "How it works", or better "How BTCrow.com works"

Hmmm yeah I should revise my english I think. thanks for the tip just updated it

BTCrow
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June 28, 2011, 02:17:41 PM
 #25

Hello Again All, Due ot a HIGH DEMAND for something simillar to ClearCoin, I now let user choose what method he prefer.

1) Bitcoin Donation (If parties cannot resolve issue the cash will go to Bitcoin Faucet ( we trust in Galvin Smiley )
2) Resolution Center (If parties are in dispute BTCrow will be used as third party to resolve issue.)
3) Reshiping Service (Coming soon)

For the reshiping service I have some job to do to decide how I will proceed and finishing the Terms in order to secure myself and customers.

Fees also differ for the two currently options available,

1% fees for customers using the donation system
2% fees for customers using the resolution center system

If you have any suggestions / comments please let me know.

Thanks

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June 28, 2011, 05:52:50 PM
 #26

You need something similar to an eBay rating system so that trading partners and your dispute resolution service have some additional information.  I am as interested in preventing disputes as resolving them.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
klamathonsite
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June 28, 2011, 05:57:30 PM
 #27

heatwave.com can be integrated for a a feedback user profile giving positive or neg and neutral
maybe
BTCrow
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June 28, 2011, 06:11:09 PM
 #28

heatwave.com can be integrated for a a feedback user profile giving positive or neg and neutral
maybe

You need something similar to an eBay rating system so that trading partners and your dispute resolution service have some additional information.  I am as interested in preventing disputes as resolving them.

You two guys are asking something very interesting, I'm actually working (in second priority) with a login system only involving digital certificate (no login / password / email) associate with a system where both sellers and buyers can rate their experiences with each others. Then other people will be able to see if they trust or not.

For new coming users to my system even if they don't have score they can still be choose donation or resolution center or reshipping service.

This is a lot of job to accomplish and i'm currently alone doing all the coding process, so this can take some time.

garyrowe
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June 28, 2011, 08:08:10 PM
 #29

Why operate a percentage on the service? Surely, releasing 100,000BTC is as easy as releasing 0.1BTC? You simply need to cover your costs in resolving any disputes and maintaining infrastructure. Taking a percentage seems a bit like the existing (non-Bitcoin) system.

Perhaps an alternative approach would be to offer your services to the seller at a nominal rate - say 0.1BTC. This allows them to buy the buyer's trust by means of your reputation in the marketplace. If the transaction goes smoothly you pocket the fee without much effort and over time the buyer and seller come to trust each other and you drop out of the loop. Plenty of other merchants to work with.

However, if the buyer then decides that the goods are faulty, broken, missing etc then they have the option to open a dispute. At that point it's going to cost you to investigate (this is a worldwide service you're offering here - how many shipping regulations do you know?). So, to cover those costs you tell the buyer that you'll need a mediation fee (say 10BTC). The buyer may back down (no frivolous claims), or if they are determined not to be screwed by Sneaky Sam the seller they'll front the cash to get a chance of getting their money back (10BTC to get 100,000BTC back ain't bad). You do the investigation in the knowledge that the buyer thinks they've got a case, and mediate according to the evidence presented.

You'll need to have a very clear set of procedures present on your website so that both buyer and seller will know what they will have to present as evidence (shipping details, DHL tracking numbers, photos of broken Steinway pianos etc).

Also, remember that 100,000BTC is a lot of money and there are unscrupulous folks out there who would want you to release that in their favour. Make sure that you are adequately protected against external pressure.

Bitcoin enthusiast and Java programmer contributing to https://multibit.org and http://bitcoin.stackexchange.com
Alex Beckenham
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July 01, 2011, 06:20:38 AM
 #30

Hi!

I just tried to create an escrow but nothing happens.

I filled out all the information, but nothing happens at all when I click the Create Escrow button to submit the information.

The Cancel button works and closes the little window.

Could you please check it. I am using Chrome.

Thanks,
Alex

BTCrow
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July 01, 2011, 12:51:16 PM
 #31

Hi Alex, We were running hardware upgrade on our servers and you
probably hit the time frame of this upgrade. It should work now as
expected.

If you have other questions or experiencing other problems, let me know.

Thanks

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July 01, 2011, 01:04:10 PM
 #32

Thanks, I've set it up now.

BTCrow
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July 03, 2011, 01:14:14 PM
 #33

Hi everyone, Just want to thanks all new coming visitors and user of BTCrow.com, I hope you enjoy the experience using our escrow system.

A lot of people asked to publish the Resolution Center / Dispute policies.

I just did it under the "how btcrow.com works" link. You can consult them at any moment and if you have question / suggestions please post them here, It will be a pleasure to answer them.

I'm also building a FAQ so all questions are welcome Smiley.

Thanks for all your support.

Jules
BTCrow.com
info@btcrow.com

Alex Beckenham
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July 03, 2011, 01:17:52 PM
 #34

Do escrows ever expire? The escrow I set up isn't due to be released until 16 July.

BTCrow
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July 03, 2011, 01:27:27 PM
 #35

Do escrows ever expire? The escrow I set up isn't due to be released until 16 July.

No escrow don't expire, until the funds released or dispute started the funds remain into the escrow account.

Alex Beckenham
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July 03, 2011, 04:16:03 PM
 #36

In addition, if a business can become so well-known and trusted that someone would willingly create a 100,000 BTC escrow, they should be able to charge more for that service than a comparable business that people will only ever trust 1 BTC with.

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July 03, 2011, 04:27:25 PM
 #37

Just as a recommendation, get someone who is a good english editor to go in and correct the grammer mistakes. Your website looks professional and trustworthy but to any native english speaker the poor grammer stands out as a red flag. Perhaps post for an editor on http://bitgigs.com/

Your site looks great and I am really excited about recommending your service but this is a point that will leave a negative impression with your users.

The other issue that I think other people have mentioned is while you have general terms up you should have a very detailed document about disputes, how they are resolved, who has the final say, how BTCrow reviews and decides on disputes, and what happens if you disagree with the resolution BTCrow comes to.
Alex Beckenham
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July 03, 2011, 04:52:03 PM
 #38

Just as a recommendation, get someone who is a good english editor to go in and correct the grammer mistakes.

Good idea, here's a start for the front page...

The first Bitcoin escrow which protects both buyers and sellers.
At BTCrow we believe that bitcoin is the currency of future, and when new technology arrives, thieves try to take advantage of it. BTCrow stops thieves by making bitcoin transactions secure.

For Buyers.
Escrow service which protects buyers' bitcoins until they confirm the service provider or merchant delivers what was promised.

For Sellers.
BTCrow protects sellers by holding buyers' funds and waiting for network confirmation that the bitcoins have been transfered.

Completely Anonymous.
We know that many bitcoin users want their freedom, so we process each transaction anonymously.

Alex Beckenham
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July 03, 2011, 05:01:06 PM
 #39

Oh one more thing, please get a new favicon.ico... the 'O' from your logo would be great... more distinct than the current icon which is used on so many sites, including this forum.

BTCrow
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July 03, 2011, 07:52:12 PM
 #40

Just as a recommendation, get someone who is a good english editor to go in and correct the grammer mistakes. Your website looks professional and trustworthy but to any native english speaker the poor grammer stands out as a red flag. Perhaps post for an editor on http://bitgigs.com/

Your site looks great and I am really excited about recommending your service but this is a point that will leave a negative impression with your users.

I completely understand what you say. I'm a french from Quebec and know enough english to be able to talk or follow a conversation but yes I lack grammar. So yes I take your comment and took action, will got someone on freelancer to have better english.

Btw thanks for saying that my website looks professional, I put a lot of effort into that cause I learned more advanced jquery while doing this site.

The other issue that I think other people have mentioned is while you have general terms up you should have a very detailed document about disputes, how they are resolved, who has the final say, how BTCrow reviews and decides on disputes, and what happens if you disagree with the resolution BTCrow comes to.

For the terms of Resolution Center, it's so complex that I'm taking more time writing it. General resolution service have been already posted into my website. If a buyer refuse a package what's happen ? I answer clearly (I hope enough for people) what is put in place in order to resolve. If all steps are completed but still in dispute then here come the resolution center. But there's a lot of possible situations, so it's hard to say what will happen. So I'm working on it to be clear on this. But at the opposite, I don,t want to release it for people abusing of it. Like user saying: "hey, if I send the package with verification process then I'll win" and taking advantage of it.

So I want to do it clear and "non-abusable".


Good idea, here's a start for the front page...

The first Bitcoin escrow which protects both buyers and sellers.
At BTCrow we believe that bitcoin is the currency of future, and when new technology arrives, thieves try to take advantage of it. BTCrow stops thieves by making bitcoin transactions secure.

For Buyers.
Escrow service which protects buyers' bitcoins until they confirm the service provider or merchant delivers what was promised.

For Sellers.
BTCrow protects sellers by holding buyers' funds and waiting for network confirmation that the bitcoins have been transfered.

Completely Anonymous.
We know that many bitcoin users want their freedom, so we process each transaction anonymously.

Wow, seriously this is very apreciated, I just fixed it on the online site.

Oh one more thing, please get a new favicon.ico... the 'O' from your logo would be great... more distinct than the current icon which is used on so many sites, including this forum.


For the icon I'll ask my designer to do it, cause this is a very good suggestion.



Thanks for everyone to help me doing better business for all the bitcoin community very apreciated.

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