OGNASTY’S LEGENDARY BITCOIN ESCROW SERVICE (More than 19K BTC transferred!)

[sardasa]

19kbtc is really an amount that matters ! I could not get the second part of the third rule. I request you to elaborate that third rule to me. I would be grateful for this.

He will hold btc in escrow for maximum of 30 days for initial 1% fee and after 30 days he will charge additional 1% for period of next 30 days and so on.

[Premgen]

Looking for you to hold my $200 btc for a msdn account. Release funds when I secure the account.

[kritment]

Hi There can you facilitate LTC trade please. Happy to pay 1%?
Thanks

[OgNasty]

Hi There can you facilitate LTC trade please. Happy to pay 1%?
Thanks

I see you wanting to make PayPal trades and asking for loans, so I'd say no based on that.  I'm sure there are others who would be willing to assist you.  Good luck.

[kritment]

ok thanks for letting me know..

[OgNasty]

RULES:
1. I will not escrow accounts, paypal, or gift cards.
2. I will not refund a Bitcoin address that is not the sending address without a signed message from the sending address.
3. I am not a bank.  Escrows are for a period of 30 days and an additional 1% gift will be required for each 30 day period thereafter.

Just a reminder.  Please don't get upset when I refund the sending address if a deal falls through.  You will be responsible for recovering the funds, so it is suggested you only send from an address you control.

[OgNasty]

Please make sure you've read my rules. If you use my escrow service, the rules will apply to you. Ignorance is not an excuse.

[SakamHost]

I would like to do an escrow with you, i pmed you already.
I got "0.0865435BTC" and i want to sell them to one member from the forums, so i would like to use your escrow services.

[TMAN]

OG you dont offer a Multisig escrow service, can I ask why that is?

Do you not see the benefit of avoiding a single point of failure? what would happen if suddenly you were arrested?

[OgNasty]

OG you dont offer a Multisig escrow service, can I ask why that is?

Do you not see the benefit of avoiding a single point of failure? what would happen if suddenly you were arrested?

You've chosen an interesting time to suddenly start pushing for multisig. Personally, I'd like to see more wallet support for it and widespread usage before I would want to go that route. Not to mention I try to keep my escrow process as simply as possible so that I can keep my donations low for end users. Since there's never been an issue, I think it's safest to stick with what has proven to be reliable.

Jumping to multisig before it's usage is commonplace can lead to unforeseen issues that I don't want to discover the hard way, like this theft that occurred earlier this week due to a flawed implementation:
https://www.google.com/amp/s/blog.ethcore.io/the-multi-sig-hack-a-postmortem/amp/

I don't engage in any illegal activity, so we can discount the possibility of an arrest. However, in the event that I am hit by a bus, I have protections in place to make sure any funds I hold would not be lost forever.

or the simple answer is that I just don't feel the need to complicate things when it isn't necessary. If you're concerned, you should start a competing escrow service that uses multisig and I'll even refer users to it.

[TMAN]

OG you dont offer a Multisig escrow service, can I ask why that is?

Do you not see the benefit of avoiding a single point of failure? what would happen if suddenly you were arrested?

You've chosen an interesting time to suddenly start pushing for multisig. Personally, I'd like to see more wallet support for it and widespread usage before I would want to go that route. Not to mention I try to keep my escrow process as simply as possible so that I can keep my donations low for end users. Since there's never been an issue, I think it's safest to stick with what has proven to be reliable.

Jumping to multisig before it's usage is commonplace can lead to unforeseen issues that I don't want to discover the hard way, like this theft that occurred earlier this week due to a flawed implementation:
https://www.google.com/amp/s/blog.ethcore.io/the-multi-sig-hack-a-postmortem/amp/

I don't engage in any illegal activity, so we can discount the possibility of an arrest. However, in the event that I am hit by a bus, I have protections in place to make sure any funds I hold would not be lost forever.

or the simple answer is that I just don't feel the need to complicate things when it isn't necessary. If you're concerned, you should start a competing escrow service that uses multisig and I'll even refer users to it.

so should you get hit by a bus, who is responsible for the "deadman switch"? how can forum users know that funds are still in safe hands? your integrity isnt in question - but you do make questionable decisions at times.

[OgNasty]

so should you get hit by a bus, who is responsible for the "deadman switch"? how can forum users know that funds are still in safe hands? your integrity isnt in question - but you do make questionable decisions at times.

That is privileged information and in order to keep my process secure I am not going to gives names of individuals involved in the process.

However, since you are suddenly so concerned about my escrow service, even though you've been banned from using it, I'll share the overview.

One person other than myself knows the combination to a lockbox that contains a key to a hidden safe. A different person knows the location of the hidden safe. A third person knows the password to decrypt the private keys held in the hidden safe. In the event of my demise, they will work together to recover any funds I may be holding. When one of them dies, they will be replaced.

It should also be mentioned that these individuals are not all located in the same country.

[TMAN]

so should you get hit by a bus, who is responsible for the "deadman switch"? how can forum users know that funds are still in safe hands? your integrity isnt in question - but you do make questionable decisions at times.

That is privileged information and in order to keep my process secure I am not going to gives names of individuals involved in the process.

However, since you are suddenly so concerned about my escrow service, even though you've been banned from using it, I'll share the overview.

One person other than myself knows the combination to a lockbox that contains a key to a hidden safe. A different person knows the location of the hidden safe. A third person knows the password to decrypt the private keys held in the hidden safe. In the event of my demise, they will work together to recover any funds I may be holding. When one of them dies, they will be replaced.

It should also be mentioned that these individuals are not all located in the same country.

I wasn't aware that I was banned from your service, not that I would ever use it of course. am I also banned from being a NastyFan? as I already own a few seats, but this isnt really the place to discuss that.

now I respect the security measures you have taken above, what happens if one of the 3 above mentioned people were in the car with you and a fatal accident were to happen?  what happens if there was a gas leak that cause a catastrophic fire at the location of the lockbox or safe and you and one of the 3 above mentioned people were to suffer a horrific accident at the same time?

I know previously you mentioned a child of sub 10 years old being part of your backup security methods, personally I think that is irresponsible as hell... but thats me.

what is it with your reluctance to move to multisig? for someone who got into Bitcoin so early I am stunned that you are turning away from technological advantages that would push you forward as the greatest escrow on the forum.. or whatever your words were.

[OgNasty]

I wasn't aware that I was banned from your service, not that I would ever use it of course. am I also banned from being a NastyFan? as I already own a few seats, but this isnt really the place to discuss that.

I don't run NastyFans.

now I respect the security measures you have taken above, what happens if one of the 3 above mentioned people were in the car with you and a fatal accident were to happen? what happens if there was a gas leak that cause a catastrophic fire at the location of the lockbox or safe and you and one of the 3 above mentioned people were to suffer a horrific accident at the same time?

The same thing that would happen if 2 of 3 multisig signers were in a horrific accident at the same time...

I know previously you mentioned a child of sub 10 years old being part of your backup security methods, personally I think that is irresponsible as hell... but thats me.

No person under the age of 35 is involved in my security methods.

what is it with your reluctance to move to multisig? for someone who got into Bitcoin so early I am stunned that you are turning away from technological advantages that would push you forward as the greatest escrow on the forum.. or whatever your words were.

Users of my escrow want trusted, simple and fast.  They want defined rules and they want me to stick to them.  They don't want multisig.  

I wouldn't say I'm "turning away from technological advantages" when I've actually done free giveaways in the past to encourage users to learn how to spend coins from multisig addresses.

EXAMPLE 1
EXAMPLE 2

[Quickseller]

Jumping to multisig before it's usage is commonplace can lead to unforeseen issues that I don't want to discover the hard way, like this theft that occurred earlier this week due to a flawed implementation:
https://www.google.com/amp/s/blog.ethcore.io/the-multi-sig-hack-a-postmortem/amp/

That issue actually only affects one specific wallet in electrum, and is not possible with bitcoin because of differences between the bitcoin and etherum protocols.

There are also currently 2.14 million BTC, or ~13.02% of all bitcoin currently held in multisig addresses. Although a decent percentage of these coins are likely held by exchanges and others who very much know what they are doing.

The risk of using escrow multisig is that one party can potentially trick their trading partner into thinking that the multisig address is something other than what it should be. In order to calculate a multisig address, users must combine multiple public keys to calculate the multisig address, which is a procedure that I suspect many will be unable to perform. If a user is unable to perform this task, then they will need to rely upon someone else (potentially their trading partner) in order to know which address to send BTC to. A scammer could potentially tell his trading partner to send BTC to a multisig address in which he has sufficient private keys to spend any BTC sent to it.

I would suspect that anyone pushing for escrows to provide multisig escrow services likely has the intention of attempting to scam others if/when implemented.

[Timelord2067]

I would suspect that anyone pushing for escrows to provide multisig escrow services likely has the intention of attempting to scam others if/when implemented.

Quite likely true, but if an Escrow (the contract, not the person) was long term ie a long term signature campaign lasting (perish the thought) months, it might be worth having two of three (or more numbers as agreed to before hand) to ensure the campaign is paid out if suddenly wound up.

Case in point the bitmixer campaign, there were a handful of posts Belly Aching ^TM that they didn't receive their last payment while the campaign was in the process of being wound up.

On the other hand, an Escrow (contract) for a short term, "my goods for their payment", would probably be too fiddly to set up?  Having never dabbled in multi-signature wallets, I'm not certain.

[TMAN]

Jumping to multisig before it's usage is commonplace can lead to unforeseen issues that I don't want to discover the hard way, like this theft that occurred earlier this week due to a flawed implementation:
https://www.google.com/amp/s/blog.ethcore.io/the-multi-sig-hack-a-postmortem/amp/

That issue actually only affects one specific wallet in electrum, and is not possible with bitcoin because of differences between the bitcoin and etherum protocols.

There are also currently 2.14 million BTC, or ~13.02% of all bitcoin currently held in multisig addresses. Although a decent percentage of these coins are likely held by exchanges and others who very much know what they are doing.

The risk of using escrow multisig is that one party can potentially trick their trading partner into thinking that the multisig address is something other than what it should be. In order to calculate a multisig address, users must combine multiple public keys to calculate the multisig address, which is a procedure that I suspect many will be unable to perform. If a user is unable to perform this task, then they will need to rely upon someone else (potentially their trading partner) in order to know which address to send BTC to. A scammer could potentially tell his trading partner to send BTC to a multisig address in which he has sufficient private keys to spend any BTC sent to it.

I would suspect that anyone pushing for escrows to provide multisig escrow services likely has the intention of attempting to scam others if/when implemented.

so are you saying I am looking to become a scammer? I want people to use multisig to protect all parties involved in transactions, but from someone with your low ethical standpoint I can understand you thinking with a scammers mind.

[Gimmelfarb]

I'd like to thank OgNasty for facilitating a deal between me and DebitMe, who bought quite a few HDD from me. The two packages was held in customs for much longer than anticipated, but due to  OgNasty and DebitMe professionalism everything worked out great.

When doing me next deal, I for sure will try to use OgNasty's service again

Thank both of you!

[mzhacker]

Hello
i am going to use your escrow service for design a web site for me with one user from here
 the price is 80$
can i use your service?

[OgNasty]

Hello
i am going to use your escrow service for design a web site for me with one user from here
 the price is 80$
can i use your service?

For smaller escrows like this, I recommend using a member with a more reasonable fee like philipma1957.