Does actually escrow services advrtised here in BitcoinTalk work?

[AG0RA]

Hey there 🤙 I'm new here and curious to know more about this huge community! Due to the circumstances, the Marketplace is the board I've been lurking around the most.

Just surprised to see so much effort placed into escrow services around here, I understand it requires time to build trust and be respectable by the most. So here why my question and poll, hope I can get an honest opinion, feedback or vote abut it from you all.

[Z-tight]

There are users here who advertise their escrow service, however, i am having a hard time understanding what this thread and poll is for, are you looking for members who offer escrow services? There are many threads about that, but a lot of them are not updated. This thread^[1] is updated, though it is not only about escrow services, but generally about users offering services on bitcointalk.

[1] https://bitcointalk.org/index.php?topic=5406507.msg60576085#msg60576085

[logfiles]

The escrow services do work. All you have to do is checkout the trust feedback of the user offering them. Most of the users who offer the service are long time forum members who have built a reputation over time and in case any members tried to scam a user via escrow scam, they would get negative feedback.

This is one of the list containing them: https://bitcointalk.org/index.php?topic=5047302.0 (last update in 6th April 2024). So some of the members may be inactive as of today, but you can check and see those who are active in the forum.
GazetaBitcoin, irfan_pak10, SFR10, shasan and so many others on the list are all active as of today.

[AG0RA]

There are users here who advertise their escrow service, however, i am having a hard time understanding what this thread and poll is for, are you looking for members who offer escrow services? There are many threads about that, but a lot of them are not updated. This thread^[1] is updated, though it is not only about escrow services, but generally about users offering services on bitcointalk.

[1] https://bitcointalk.org/index.php?topic=5406507.msg60576085#msg60576085

Thanks bth for sharing yoour thoughta and @Z-tight for the link. I was effectively feeling lost and overwhelmed by the quantity of threads and the extensive number of pages they keep rolling on. I'll keep clicking and reading, and I'm interested in the topic and the trust build-in system that bitcointalk enables.

[Z-tight]

Thanks bth for sharing yoour thoughta and @Z-tight for the link. I was effectively feeling lost and overwhelmed by the quantity of threads and the extensive number of pages they keep rolling on. I'll keep clicking and reading

Like i said, about the link i shared, it is generally about services in bitcointalk and the users offering them, since you are interested in escrow services, there is no need to read all of the topic, just scroll down to 'escrow services' and see the users actively offering it.

and I'm interested in the topic and the trust build-in system that bitcointalk enables.

There are reputable users in this forum, but take note that the forum does not in itself 'endorse' members offering one service or the other. You have to do your own research before dealing with anyone, because if you get scammed, the forum does not moderate things like that.

[logfiles]

... and I'm interested in the topic and the trust build-in system that bitcointalk enables.

The system is basically more of a community based type of thing. You might want to read through this in order to have some idea
1. LoyceV's Beginners guide to correct use of the Trust system
2. DefaultTrust changes (2019)
3. Trust flags

The feedback left on the user profile is mostly based on past deals, services, user's trustworthiness etc. and at times users include reference links too, that you can try to check out and verify if indeed the feedback is accurate or not. The trusted feedback you see on profile by default is from DT (default trust) members or members you might have also personally added on your trust list.

[Darker45]

Prior to mine, all votes were saying, yes, escrow on Bitcointalk works 100%. I don't agree. In my local board alone, I can remember 2 escrows, one reputable across the forum, who kept escrowed money with them when they went inactive all of a sudden. On top of that, even our moderator, an early adopter who also offered escrow services for years, also ran away with huge amounts of borrowed money.

I voted 'would be worse without', but you have to pick the most trusted option.

[LoyceV]

The escrow services do work. All you have to do is checkout the trust feedback of the user offering them.

I disagee: escrows here work if all parties are honest, in which case you would also have been fine without the escrow. I've seen a case where one of the parties involved wanted to scam, and got away with $50k. The Trust feedback doesn't mean anything if the experienced escrow charges $500 but doesn't have a fool-proof system in place. Read Best practices for Bitcointalk escrow providers.

[Apocollapse]

It does work, but not for huge amount deal. People only risking their "account" in this forum, not their identity. I think lower than $10K trade is still acceptable, more than that you have to think multiple times.

If people earn $100/week which will take around 2 years, they could make it without waiting for 2 years and then starts with new account.

The Trust feedback doesn't mean anything if the experienced escrow charges $500 but doesn't have a fool-proof system in place.

It means people need to choose better escrow.

The escrow should able to verify everything in the first place.

[LoyceV]

It means people need to choose better escrow.
The escrow should able to verify everything in the first place.

I don't think such escrows exist on Bitcointalk. It's "normal" to take escrow jobs while they can't verify all the details involved. Here's more to read on the subject.

[ABCbits]

FWIW, some signature campaign on this forum use escrow. So i would escrow service works, but i would never claim it works 100% of the time. Although some of the escrow on the signature campaign also act as campaign manager.

however, i am having a hard time understanding what this thread and poll is for, are you looking for members who offer escrow services?

I believe this poll created with purpose to know average member's experience using escrow, not looking for escrow service.

[Darker45]

It does work, but not for huge amount deal. People only risking their "account" in this forum, not their identity. I think lower than $10K trade is still acceptable, more than that you have to think multiple times.

If people earn $100/week which will take around 2 years, they could make it without waiting for 2 years and then starts with new account.

Or is it the other way around? I mean, if it's a small amount, you could go without escrow, but if it involves bigger amounts, you should consider hiring a trusted escrow. However, even if it isn't really a big amount, but the user you're dealing with is a newbie or still untrusted, it might be better if you get an escrow.

Trust is hard to earn especially if it involves keeping money. Minerjones, for example, didn't build his reputation overnight. It isn't just an account. It's a service with long solid track record. He can't just waste it over a certain amount and start all over again.

[dkbit98]

I have seen escrow services advertising in bitcointalk forum, but I would rather trust some experienced DT members for doing that job instead of some new website that have many promises about security.
If I remember correctly there was a list of forum members who offered escrow services, and maybe even campaign managers could do that job.

[aioc]

Just surprised to see so much effort placed into escrow services around here, I understand it requires time to build trust and be respectable by the most. So here why my question and poll, hope I can get an honest opinion, feedback or vote abut it from you all.

Yes, it works, and Bitcointalk has a lot of reputable escrow managers that you can count on. Whatever business you want to use it for, escrow managers here are the most trusted because they are holding huge amounts of money between two parties.
If you're looking for an escrow manager online, Bitcointalk is the best place to look; behind those trusted escrow managers are big names that trusted them with huge money, so if you have a business and you need an escrow, then you've come to the right place.

[NotATether]

Escrow on this forum is only used for large transactions such as collectibles and other high-value items.

It's not used for like a $50 purchase for example, that would be quickly eaten up by fees, and also there are not that many cases of P2P scams happening on this forum because you can basically get destroyed with red trust if you attempt that.

[AG0RA]

Wow, I missed all these responses! Why I did not get notified? Anyhow, thanks all for all your inputs! That's a lot of info to digest.

...note that the forum does not in itself 'endorse' members offering one service or the other.

That was pretty clean and make sense, playing a middleman is a really risky role, so It's understandable the forum want to be out such situations.

[AG0RA]

The system is basically more of a community based type of thing. You might want to read through this in order to have some idea
1. LoyceV's Beginners guide to correct use of the Trust system
2. DefaultTrust changes (2019)
3. Trust flags

The feedback left on the user profile is mostly based on past deals, services, user's trustworthiness etc. and at times users include reference links too, that you can try to check out and verify if indeed the feedback is accurate or not. The trusted feedback you see on profile by default is from DT (default trust) members or members you might have also personally added on your trust list.

Really useful links. I'm just starting learning an dcustomizing my trust flags and list, is actually really useful to see the values under each user profile.

[AG0RA]

Prior to mine, all votes were saying, yes, escrow on Bitcointalk works 100%. I don't agree. In my local board alone, I can remember 2 escrows, one reputable across the forum, who kept escrowed money with them when they went inactive all of a sudden. On top of that, even our moderator, an early adopter who also offered escrow services for years, also ran away with huge amounts of borrowed money.

I voted 'would be worse without', but you have to pick the most trusted option.

true is that life happen, and we cant really 100% know what happen in the other side. Assuming escrow rugpulled the other parties is the most obvious and easier conclusion we can reach. I bet in reality we cannot be 100% sure.

My question is then, what an escrow service should guarantee? must it be a company or business of any kind to guarantee the service, instead of a single private person?

[Darker45]

Prior to mine, all votes were saying, yes, escrow on Bitcointalk works 100%. I don't agree. In my local board alone, I can remember 2 escrows, one reputable across the forum, who kept escrowed money with them when they went inactive all of a sudden. On top of that, even our moderator, an early adopter who also offered escrow services for years, also ran away with huge amounts of borrowed money.

I voted 'would be worse without', but you have to pick the most trusted option.

My question is then, what an escrow service should guarantee? must it be a company or business of any kind to guarantee the service, instead of a single private person?

It guarantees safety of funds, in the first place. Of course, it also guarantees protection to parties involved, which means smooth transactions.

I think it actually doesn't matter whether the escrow is a company or a business entity or a private person. Either way, you have to trust a third party, which could go rogue anytime.

I've heard of smart contract escrows, although these are on alternate blockchains like Ethereum. Being not a technical person, neither can I vouch nor recommend them. However, if these are polished into perfection, it's way better. It's automated, on the blockchain therefore transparent, and objective since it only acts according to the specified conditions.

[AG0RA]

I've heard of smart contract escrows, although these are on alternate blockchains like Ethereum. Being not a technical person, neither can I vouch nor recommend them. However, if these are polished into perfection, it's way better. It's automated, on the blockchain therefore transparent, and objective since it only acts according to the specified conditions.

Inn the bitcoin realms, introducing such "smart" contracts simply add confusion in my perspective. I wonder if a kind or standard practice could be defined when payments are settled in bitcoin, P2P, for both small and high values items, shippable or digital. It would be a great advancement in the bitcoin circular economy.

Or maybe there's something I'm unaware of? The whole point of this topic was to ping escrow providers here in BT and to evaluate current tools and strategy they have currently in place.

I also understand that making this practices publicly available, maybe disrupt and make escrow services more vulnerable to attacks. Hope is not the case!