Monitoring sequence of btc transactions

[Gatinueta]

Me and my partner want to engage in a sequence of Bitcoin transactions. The first transaction involves me sending $400 in BTC, and the second transaction involves my partner sending me $900 in BTC. To establish trust, both of us are willing to deposit $900 in BTC into an account, which will be returned to us after the completion of the transactions.
How should we proceed? How do we find a trusted intermediary?

Edit: To clarify: "the partner" is just a person I met on the internet, there is no trust relationship between the two uf us. It is in both our interests that this sequence of transaction will take place as described.

Thanks a lot for your inputs!

[Don Pedro Dinero]

There are several trusted escrows in the forum that you could use, what I see unnecessary is to make both transactions and also use the escrow. You could specify what you want to send him $400 for and then get back $900. Normally payments are made in exchange for a good or service, not back and forth like playing games.

[Oshosondy]

You can make use of any reputable escrow service providers on this forum.

To establish trust, both of us are willing to deposit $900 in BTC into an account, which will be returned to us after the completion of the transactions.

There is nothing like trust in life. Do not be fooled by it. Always do it like business.

There are several trusted escrows in the forum that you could use, what I see unnecessary is to make both transactions and also use the escrow. You could specify what you want to send him $400 for and then refund $900. Normally payments are made in exchange for a good or service, not back and forth like playing games.

These are the trusted escrow service providers on this forum: https://bitcointalk.org/index.php?topic=5047302

[Frankolala]

This is funny. Since you trust your friend, why not send directly to his wallet and he also send directly to your wallet and after that you guys can send it back to one another. There are trusted Escrow in this forum but you must pay for the service.

If you and your friend is not buying or paying for any goods or services, then it is better that you keep your bitcoin in your wallets and wait till you want to use it to pay for goods and services. This is because there will be a transaction fee you would pay for every transfer that you and your friend make.

[Don Pedro Dinero]

This is funny. Since you trust your friend, why not send directly to his wallet and he also send directly to your wallet and after that you guys can send it back to one another.

Of course, I just don't understand what he wants. If he and his friend trust each other, they can make transactions between them, but the transactions he proposes to make are a bit strange. Using an intermediary, which would have to be a trusted escrow, otherwise there is a risk of losing the money, is usually when there is not enough trust between the two parties.

[bitmover]

This is funny. Since you trust your friend, why not send directly to his wallet and he also send directly to your wallet and after that you guys can send it back to one another.

Of course, I just don't understand what he wants. If he and his friend trust each other, they can make transactions between them, but the transactions he proposes to make are a bit strange. Using an intermediary, which would have to be a trusted escrow, otherwise there is a risk of losing the money, is usually when there is not enough trust between the two parties.

And adding a escrow also costs money, as he will charge for the service.

Maybe they aren't friends?

[Don Pedro Dinero]

And adding a escrow also costs money, as he will charge for the service.

Maybe they aren't friends?

Yes, it also costs money, so maybe as he says 'partner' instead of 'friend' there is not enough trust between them and that's why he is raising this. But he's online, he could clarify a little bit and not leave us speculating here.

[Findingnemo]

Me and my partner want to engage in a sequence of Bitcoin transactions. The first transaction involves me sending $400 in BTC, and the second transaction involves my partner sending me $900 in BTC. To establish trust, both of us are willing to deposit $900 in BTC into an account, which will be returned to us after the completion of the transactions.
How should we proceed? How do we find a trusted intermediary?

Using a trusted third party as an intermediary is just going to add extra cost to the value of your transaction which is a loss that can be saved if you can make a trustworthy trade partner and engage in dealing with him.

If you still need escrows then here are some threads

1.Recommended bitcointalk escrow services
2.Few Trusted Escrow Providers

[seoincorporation]

Me and my partner want to engage in a sequence of Bitcoin transactions. The first transaction involves me sending $400 in BTC, and the second transaction involves my partner sending me $900 in BTC. To establish trust, both of us are willing to deposit $900 in BTC into an account, which will be returned to us after the completion of the transactions.
How should we proceed? How do we find a trusted intermediary?

What you need is an escrow service. With that you can send the BTC to a 3rd party who both of you trust and he should send the $900  back.

But i don't get the point at all about what are you trying to do, if this process is for building trust then you don't need the escrow because that breaks the idea about building trust between your partner and you.

Another option is to share a signed transaction as collateral, in the scenario where someone decides to not send the coins back then you can take them by broadcasting the transaction. But it still a double-edged sword.

[PX-Z]

Better to explain this in private to the escrow you will choose on the threads mentioned below. I'm sure the chosen escrow can think what's the best things to do. You can direct PM them if who are currently available.

If you still need escrows then here are some threads

1.Recommended bitcointalk escrow services
2.Few Trusted Escrow Providers

[Faisal2202]

Me and my partner want to engage in a sequence of Bitcoin transactions. The first transaction involves me sending $400 in BTC, and the second transaction involves my partner sending me $900 in BTC. To establish trust, both of us are willing to deposit $900 in BTC into an account, which will be returned to us after the completion of the transactions.
How should we proceed? How do we find a trusted intermediary?

You have some ways to solve this problem, like finding a suitable agent that you both can trust and placing your funds into his account and once the requirements are met the funds will be returned. If you don't trust that dude then set up a multi-signature wallet with each other I hope you already know how it works (if you set 2 keys then to make a TX you need both of them, one will be yours and the other will be your partners) the risk in here is if any of the both lost the key or won't cooperate then things will become bumpy for both of you.

3rd way is if you don't want to do this with each other then use multi sig option with a suitable agent in this way none of the three (you, your partner, and the agent) can fly away with the money. Another way is to use some platforms like LocalBitcoins which I heard has there own built-in escrow service and Paxful too. You can use these or the best option is to prefer an agent from this forum, but check their trusts before making a trade, and fees as well.

Bitcointalk Escrows - Trade Safely! this thread might help you.

[BITDV]

Me and my partner want to engage in a sequence of Bitcoin transactions. The first transaction involves me sending $400 in BTC, and the second transaction involves my partner sending me $900 in BTC. To establish trust, both of us are willing to deposit $900 in BTC into an account, which will be returned to us after the completion of the transactions.
How should we proceed? How do we find a trusted intermediary?

So far no way to do this, except using/paying reputable  escrow service

[Orpichukwu]

This is funny. Since you trust your friend, why not send directly to his wallet and he also send directly to your wallet and after that you guys can send it back to one another.

Of course, I just don't understand what he wants. If he and his friend trust each other, they can make transactions between them, but the transactions he proposes to make are a bit strange. Using an intermediary, which would have to be a trusted escrow, otherwise there is a risk of losing the money, is usually when there is not enough trust between the two parties.

And adding a escrow also costs money, as he will charge for the service.

Maybe they aren't friends?

Maybe there is also more to the service that the OP has yet to explain. As it's stated on the last part, "an account they can send $900" into which they will get back after the completion of the transaction, could they be dealing in some kind of business that they don't want to share details about?
 
I don't get why someone can just decide to send transactions to one another for no reason, wasting the fees that it will cost them for each transaction.

[franky1]

just use a multisig

both sides send a public address to each other
use those addresses to create a 2 of 2 multisig
(if you want 2 multisig addresses(escrows) both sides create 2 public addresses each and share them to create 2 multisigs)


fund the multisig and then when its funded you both have to decide on the destination(s) and amount of the fund(s) which you then both sign for

no middle man needed. just each other being co-signers to make sure it only leaves the multisig when both sides are happy with destination and amount and time to let it be spent

in short you both become your own escrow

[Z-tight]

To establish trust, both of us are willing to deposit $900 in BTC into an account, which will be returned to us after the completion of the transactions. How should we proceed? How do we find a trusted intermediary?

If you have BTC knowledge, then you do not need a 'trusted intermediary' or an escrow. You can set up your own 2 of 2 multisig wallet, of which either of you will hold a key to this wallet, whenever a tx is created, and it is fine by the both of you, then you both sign the tx and broadcast it to the network, sending it to the destination address. Take note that you should know what you are doing when setting up a multisig wallet, so you don't make a costly mistake.

[decodx]

Me and my partner want to engage in a sequence of Bitcoin transactions. The first transaction involves me sending $400 in BTC, and the second transaction involves my partner sending me $900 in BTC.
<...>

That offer in itself sounds too good to be true, so you have to ask yourself, what's the catch? Are there any other actions or requirements between these transactions? Or do you really expect someone to send you $900 in return for your $400?

As others have already suggested, your best option is to use trusted escrow.

[Gatinueta]

This is funny. Since you trust your friend, why not send directly to his wallet and he also send directly to your wallet and after that you guys can send it back to one another.

No he's not a friend. There is no mutual trust. I clarified in the original post.

Of course, I just don't understand what he wants. If he and his friend trust each other, they can make transactions between them, but the transactions he proposes to make are a bit strange. Using an intermediary, which would have to be a trusted escrow, otherwise there is a risk of losing the money, is usually when there is not enough trust between the two parties.

[Catenaccio]

Me and my partner want to engage in a sequence of Bitcoin transactions. The first transaction involves me sending $400 in BTC, and the second transaction involves my partner sending me $900 in BTC. To establish trust, both of us are willing to deposit $900 in BTC into an account, which will be returned to us after the completion of the transactions.
How should we proceed? How do we find a trusted intermediary?

Edit: To clarify: "the partner" is just a person I met on the internet, there is no trust relationship between the two uf us. It is in both our interests that this sequence of transaction will take place as described.

What is purpose of the trade with value at $900 to deposit it to an exchange account, yours or your friend's account?

You sends $400 and where it goes to? You didn't write destination of the $400.
Your partner sends $900 to you.

And at the end, there is a sending transaction at $900 to an exchange account. I am confusing here. Who will be a person to send $900 to that account, you or your friend?

I assume the deal is you and your partner will contribute $400 and $500, and the net $900 will be sent to that exchange account, is it like that?

[Apocollapse]

no middle man needed. just each other being co-signers to make sure it only leaves the multisig when both sides are happy with destination and amount and time to let it be spent

in short you both become your own escrow

It's only work if both of them don't have any problem, but if one of them is a scammer, the other ones will become a victim because he has no way to get back his coins. Unlike having third party intermediary who can evaluate and judge which one is wrong and right.

But i don't get the point at all about what are you trying to do, if this process is for building trust then you don't need the escrow because that breaks the idea about building trust between your partner and you.

As big as you can trust someone, trust no one. This is about money, probably you think $400-$900 is not much i.e. you can afford to lose, but in many countries it's worth like 6 months salary.

[Gatinueta]

just use a multisig

both sides send a public address to each other
use those addresses to create a 2 of 2 multisig
(if you want 2 multisig addresses(escrows) both sides create 2 public addresses each and share them to create 2 multisigs)


fund the multisig and then when its funded you both have to decide on the destination(s) and amount of the fund(s) which you then both sign for

no middle man needed. just each other being co-signers to make sure it only leaves the multisig when both sides are happy with destination and amount and time to let it be spent

in short you both become your own escrow

There are several trusted escrows in the forum that you could use, what I see unnecessary is to make both transactions and also use the escrow. You could specify what you want to send him $400 for and then get back $900. Normally payments are made in exchange for a good or service, not back and forth like playing games.

Yes of course this situation has a history that I didn't explain here. Also before the second transaction happens, the receiving party has to initiate a conversion process. But because it is not relevant for what we have to do,  I didn't mention.