[ANN] BTC-Asia.com - Secure Bitcoin Escrows

[ninjaboon]

18 June 2013
www.BTC-Asia.com - a new site that offers automatic bitcoin escrows. Reserving this topic as an official thread for customer support. Our site at www.btc-asia.com will be online within 14 days.

27 June 2013
Our Bitcoin escrow site is online now.
http://btc-asia.com

How It Works:
* Buyer or seller start an escrow transaction
* Buyer and seller confirm their email and bitcoin addresses
* Buyer sends bitcoins to the escrow's bitcoin address
* Seller sends item(s) to buyer (Maximum Shipping Time 60 days)
* Inspection period begins when buyer receives item(s)
* Bitcoins are released to seller (or a dispute is started)

Escrow Fees:
Promotional fee of 0.1% escrow fee (till 31 August 2013 23:59 GMT+8)

Affiliate Program:
Become an Affiliate and share 30% of our escrow transaction fees for each completed transaction you refer to us at https://btc-asia.com/affiliate.php

For questions, contact:
Time zone:       AEST, or GMT +8  (current office time is 9:13 PM)
Business Hours:    9am - 5pm (Malaysia Time)
Email:         admin@btc-asia.com or admin@bitcoinmalaysia.com

[1713559072]

1713559072

[1713559072]

1713559072

[ninjaboon]

reserved

[ninjaboon]

reserved

[ninjaboon]

Hi all, feel free to PM me if you have problems using http://www.btc-asia.com/

[mprep]

Good luck with your escrow business.

[ninjaboon]

Good luck with your escrow business.

@mprep - thanks

[mprep]

Good luck with your escrow business.

@mprep - thanks

No problem. 

[ninjaboon]

Our site had SSL cert error earlier. It's fixed now.

[ninjaboon]

http://www.reddit.com/r/Bitcoin/comments/1haf4l/announcing_btcasiacom_secure_bitcoin_escrows/

[idev]

Is this site related to btcrow.com in some way

[ninjaboon]

Is this site related to btcrow.com in some way

Yes, its related. you see the resemblance?
 

[ninjaboon]

One of the service hung on the site today. It's fixed now, thanks to cryptojoe for the tip.
https://bitcointalk.org/index.php?action=profile;u=120493

[Hfleer]

I like your website, fees are very low.  Should do well, there's posts fairly often with people requesting escrow fast.

[ninjaboon]

I like your website, fees are very low.  Should do well, there's posts fairly often with people requesting escrow fast.

@Hfleer - thanks!

[ninjaboon]

BTC-Asia.com was featured on Euromoney this week
http://bitcoinmalaysia.com/2013/08/23/btc-asia-com-was-featured-on-euromoney/

[ninjaboon]

reviewed on http://www.bitcoinvention.com/bitcoin-in-asia/

[ninjaboon]

In talks with bitmit founder.

[ninjaboon]

featured on e27:
http://e27.co/challenges-and-opportunities-for-bitcoin-startups/

[ngenko]

Here is the comment that I've made to another escrow service:

I talked some time ago with a bitcoin core dev who told me that basically, the escrow service is already embedded in the bitcoin protocol.
Basically, you send BTC to 3 public addresses, and it requires only two privates keys to use the output of the transaction.
In this case, the third party can never use the output without the agreement of a second player in the transaction.
In normal use, the two persons using the service won't need the involvement of the third party to complete the transaction.

Are your using the Bitcoin protocol in this way?

[ninjaboon]

Here is the comment that I've made to another escrow service:

I talked some time ago with a bitcoin core dev who told me that basically, the escrow service is already embedded in the bitcoin protocol.
Basically, you send BTC to 3 public addresses, and it requires only two privates keys to use the output of the transaction.
In this case, the third party can never use the output without the agreement of a second player in the transaction.
In normal use, the two persons using the service won't need the involvement of the third party to complete the transaction.

Are your using the Bitcoin protocol in this way?

I think that's called multisig transactions.
We plan to have this feature soon.

[ngenko]

this is indeed multisig.
and you can make it with 5, 7, ... 1001 users if you want, and that would be a great enhancement to your service, because there is no need to trust you, except for the conflict resolution service.

[ninjaboon]

this is indeed multisig.
and you can make it with 5, 7, ... 1001 users if you want, and that would be a great enhancement to your service, because there is no need to trust you, except for the conflict resolution service.

definitely in the works, once my dev has done his homework. thanks for the heads up.

[ninjaboon]

Featured on Wall Street Journal and Coindesk – Our take on the Central Bank of Malaysia statement.
http://bitcoinmalaysia.com/2014/01/05/featured-on-wall-street-journal-and-coindesk/

[ninjaboon]

Due to numerous attempts to scam our customers, we have decided to put the site into a semi automatic state.

1. Withdrawals of bitcoins will only be processed from Monday to Friday, 0900- 1700, Australia Sydney time.
2. Withdrawals will NOT be processed on weekends (we have a life too).
3. All withdrawals are manually processed and validated by humans (please stop sending fake emails).
4. For further info, please email us at admin@ bitcoin malaysia .com or admin @ btc-asia .com

[ninjaboon]

Please do not post lies and false statements about our escrow site - btc-asia.com

That will tantamount to libel:

http://dictionary.law.com/Default.aspx?selected=1153

1) n. to publish in print (including pictures), writing or broadcast through radio, television or film, an untruth about another which will do harm to that person or his/her reputation, by tending to bring the target into ridicule, hatred, scorn or contempt of others. Libel is the written or broadcast form of defamation, distinguished from slander, which is oral defamation. It is a tort (civil wrong) making the person or entity (like a newspaper, magazine or political organization) open to a lawsuit for damages by the person who can prove the statement about him/her was a lie. Publication need only be to one person, but it must be a statement which claims to be fact and is not clearly identified as an opinion. While it is sometimes said that the person making the libelous statement must have been intentional and malicious, actually it need only be obvious that the statement would do harm and is untrue.

Proof of malice, however, does allow a party defamed to sue for general damages for damage to reputation, while an inadvertent libel limits the damages to actual harm (such as loss of business) called special damages. Libel per se involves statements so vicious that malice is assumed and does not require a proof of intent to get an award of general damages. Libel against the reputation of a person who has died will allow surviving members of the family to bring an action for damages. Most states provide for a party defamed by a periodical to demand a published retraction. If the correction is made, then there is no right to file a lawsuit. Governmental bodies are supposedly immune to actions for libel on the basis that there could be no intent by a non-personal entity, and further, public records are exempt from claims of libel. However, there is at least one known case in which there was a financial settlement as well as a published correction when a state government newsletter incorrectly stated that a dentist had been disciplined for illegal conduct. The rules covering libel against a "public figure" (particularly a political or governmental person) are special, based on U.S. Supreme Court decisions. The key is that to uphold the right to express opinions or fair comment on public figures, the libel must be malicious to constitute grounds for a lawsuit for damages. Minor errors in reporting are not libel, such as saying Mrs. Jones was 55 when she was only 48, or getting an address or title incorrect. 2) v. to broadcast or publish a written defamatory statement.

[ninjaboon]

btc-asia.com has been offline for a few months now.
Please do not use it.

it will redirect to btcrow dot com

[papale123]

Hello, can u send me some reputation/review of your escrow mate? I can't find anything. Thanks

[ninjaboon]

Beware I don't own this site anymore (the domain expired in May 2015) and we do not have information about the new owners.

https://bitcointalk.org/index.php?topic=240370.msg14277293#msg14277293

I've had reports that the new owners are not responding to emails and not releasing escrowed funds.