[ANN]Multisign Escrow Service for BTC/ETH/USDT Trading

[yarlungzangbo]

Hi guys,

I want to introduce my service to every OTC traders.

What is a multisign escrow service, and why would I use one?

Escrow services often act as 3rd party middleman in OTC trading to prevent transaction fraud. But this kind of escrow is based on the trust to the man who provide service.What happens in blockchian we should solve problems by blockchain's way.Multisign escrow is a better way that people trading with large amount, it is using 2/3 multisign, buyers or sellers can't go back on their promises, and the middleman also has a private key of 1/3 signature . Normally, no middleman is required to carry out trust transactions. This is the charm of 2/3 multisign transactions. The role of middleman is only to provide credible transactions.


Why should I trust mutlisign escrow?

You don't need to trust the service based on historical records, which don't represent future performance. If you trust the blockchain security of bitcoin/Ethereum, then you really can trust the multisign escrow service, because this is based on open source script/program, and once completed, the transaction is irreversible.


Escrow Main Features:

-   0.2%fee
-   Fast, one transction will be finished in 1hour
-   Tursted , no one can touch the coins/tokens which is in the multisign address
-   Fully decentralized
-   Public regulation (if necessary)

I hope you will like service and feel free to ask me anything! https://t.me/yarlungzangbo

[o_e_l_e_o]

You don't need to trust the service based on historical records, which don't represent future performance. If you trust the blockchain security of bitcoin/Ethereum, then you really can trust the multisign escrow service, because this is based on open source script/program, and once completed, the transaction is irreversible.

You definitely still need to trust the escrow.

Lets say I'm trading with a malicious third party who is trying to steal all my bitcoin. I send all my bitcoin to the multi-sig escrow address, with one key controlled by me, one key controlled by the malicious third party, and one key controlled by you. The third party sends you a message saying "Why don't we steal all his coins in a 50-50 split?" If you are untrustworthy, then the two of you make that deal and I lose everything. A 2-of-3 set up doesn't remove the need for a trusted escrow.

A user with zero trading history or trust feedback offering escrow services is always a red flag for me.

-   Public regulation (if necessary)

What do you mean by this?

[hugeblack]

We already have this type of escrow service represented by bisq, so if you do not provide enough features, you will not find anyone using your service, especially as it requires trust.
There is no difference between 2/3 multisig address or full trust in the third party because they can scam you at any time. Perhaps the damage will be less in the first case.

-   0.2%fee
-   Fully decentralized

How will you combine fees, decentralization and multisig addresses? Suppose that a B party sends the money to a multiple address and the two parties (A "reciver" & B "sender" ) agree to release the escrow, how will you receive your money (C)?

[yarlungzangbo]

You don't need to trust the service based on historical records, which don't represent future performance. If you trust the blockchain security of bitcoin/Ethereum, then you really can trust the multisign escrow service, because this is based on open source script/program, and once completed, the transaction is irreversible.

You definitely still need to trust the escrow.

Lets say I'm trading with a malicious third party who is trying to steal all my bitcoin. I send all my bitcoin to the multi-sig escrow address, with one key controlled by me, one key controlled by the malicious third party, and one key controlled by you. The third party sends you a message saying "Why don't we steal all his coins in a 50-50 split?" If you are untrustworthy, then the two of you make that deal and I lose everything. A 2-of-3 set up doesn't remove the need for a trusted escrow.

A user with zero trading history or trust feedback offering escrow services is always a red flag for me.

Yeah, you are right. So may we still need more historical records. Or people should trade in small amount at first time

[yarlungzangbo]

We already have this type of escrow service represented by bisq, so if you do not provide enough features, you will not find anyone using your service, especially as it requires trust.
There is no difference between 2/3 multisig address or full trust in the third party because they can scam you at any time. Perhaps the damage will be less in the first case.

-   0.2%fee
-   Fully decentralized

How will you combine fees, decentralization and multisig addresses? Suppose that a B party sends the money to a multiple address and the two parties (A "reciver" & B "sender" ) agree to release the escrow, how will you receive your money (C)?

Buyers /Sellers pay me after the transcation. I believe in my customers, we won't do business just once.

[Findingnemo]

Yeah, you are right. So may we still need more historical records. Or people should trade in small amount at first time

You need to have trading history in bitcointalk to be trusted but if you are going to trade smaller amounts just to become an escrow then it will be called trust farming and even DT members can mark you untrustworthy for this behavior.

Buyers /Sellers pay me after the transcation. I believe in my customers, we won't do business just once.

So believes that people will pay you once everything done?
No need to post multiple posts in a row which is against the rule, just edit all the replies into one.

[hugeblack]

Buyers /Sellers pay me after the transcation. I believe in my customers, we won't do business just once.

As long as it depends on the trust of customers, why not make the method of financing through donations? There are some successful projects that rely on donations.
I also believe that the costs of running escrow service will be cheap if you gain sufficient trust.
Overall, how will you gain trust? There is no such thing as decentralization and you are suggesting to the parties forms based on trust, such as a multi-signature address.
You can ask some famous people in the forum to manage this service while getting trust, it's the cheapest idea.

[sergiopolas]

This problem is related to fraud, which causes irreparable damage to the reputation of the entire cryptocurrency community.