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Author Topic: Using Escrows for Speculation  (Read 844 times)
nrd525
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September 18, 2011, 08:09:10 PM
 #1

Is there a reliable escrow (one with a years of good reputation) that would allow me to speculate on the price of BTC?

For instance, I'd like to be able to bet $100 that the price will drop by Dec 15. Someone else can take the opposite side.  The escrow service could get 2% of the total and deliver the rest of the money to whoever wins the contract.

Don't day trade.
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piramida
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September 18, 2011, 08:50:34 PM
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There are many bitcoin services with years of reputation! Hundreds, just pick one!

On a serious note, there was clearcoin (sp?) which is now closed to new transactions, and http://bitcoin-escrow.i2p/ which only runs on i2p, none of them of course had years of reputation. Read on more services here, but http://www.bitcoinsreview.com/category/bitcoin-trading-website/, but as usual do your research on particular service before using it.

If you need not an escrow, but a betting site, there (was?) moonco.in but it's not working atm Smiley

i am satoshi
nrd525
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September 18, 2011, 11:14:37 PM
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I'm looking for a non-bitcoin site.

Don't day trade.
Littleshop
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September 19, 2011, 01:22:59 AM
 #4

I'm looking for a non-bitcoin site.

A non bitcoin site to allow you to place a bet on bitcoins future?  That does not seem to be too likely.

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September 19, 2011, 01:26:04 AM
 #5

There are many bitcoin services with years of reputation! Hundreds, just pick one!

On a serious note, there was clearcoin (sp?) which is now closed to new transactions, and http://bitcoin-escrow.i2p/ which only runs on i2p, none of them of course had years of reputation. Read on more services here, but http://www.bitcoinsreview.com/category/bitcoin-trading-website/, but as usual do your research on particular service before using it.

If you need not an escrow, but a betting site, there (was?) moonco.in but it's not working atm Smiley

there's also http://btcrow.com which is pretty good.
nrd525
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September 19, 2011, 01:55:19 AM
 #6

I'm thinking of a website that would hold a payment in exchange for the fulfillment of a contract. (All sorts of people could use this service, for instance a friend of mine who does construction/house repair work - as sometimes people don't pay up.  Or someone selling an item on Ebay.)

I guess this might be too close to betting (and thus in a grey area under law in many countries).

I'm ok using bitcoinica and bitoption for small amounts. I'm not sure I want to trust them with $1000.

Don't day trade.
piramida
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September 19, 2011, 07:57:53 AM
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First of all, $1000 *is* a small amount. Second, if you deal in real money, why do you even need btc-based escrow? Use a regular one.

i am satoshi
payb.tc
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September 19, 2011, 08:22:04 AM
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why do you even need btc-based escrow? Use a regular one.

I'm looking for a non-bitcoin site.
nrd525
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September 19, 2011, 11:31:28 PM
 #9

$1000 might be a small amount to you.  Have you seen the level of scamming and hacking going on in bitcoin?

I've never used an escrow service before, so I'm looking for a recommendation.

Don't day trade.
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September 19, 2011, 11:42:48 PM
 #10

It sounds like you are betting against bitcoin.  The problem with that is most of the people who would take the other side of the bet (for bitcoin) would be found in the bitcoin community.  That would make it hard to find a counterparty unless you do it on a bitcoin based site.  That was my point.  Good luck to you. 


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