The following is a bitcoin signed message from my address 19xGRmoS3jqALhdyCbMsKFSbhGnAMPWAse which will be used to fund my portion of the escrow. Everything below (but not including) the --separator-- line has been signed.
ILhg4v0SY7hj/8wjex1yyK0ZfigPICcydaAx5yb8jM1PMh56y8M+sd4JmAXoBCEwcO5EB9C7VpraUuCsBlzrALk=
--separator--
"I agree to the terms of escrow." -- signed, smooth
Since both parties have indicated an interest in the escrow agreement being made public, I am posting it in its initial form here. If any errors are identified, or if any clarifications are needed, or if any of the conditions change due to additional negotiation prior to the funding of the escrow address, please contact me and I'll update the agreement as necessary. Furthermore, a copy of this agreement which includes contact information for the escrow holder is being sent via PM to both parties. The publicly posted agreement takes precedence if there are any material differences between the publicly posted agreement and the privately communicated agreement.
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512
Escrow ID: 201404050000
The escrow address for the vanilla european call option beginning on 2014-04-05 between smooth (the call buyer) and TwinWinNerD (the call seller) will be:
1PT976p57RheCsEQ4RfNQbjz3sYTLzHAqu
Please agree to any conditions (quantity, price, payment method, transaction fees, penalties, conflict resolution, etc) beforehand.
If possible, GPG sign your agreement to prevent any discrepancies later on. GPG signing is not a requirement, and any written exchange in the form of private messages or posts on bitcointalk.org, communication seen by me in IRC, or email is effective as a 'statement of condition'.
Please understand that I am doing this as a community service for users of bitcointalk, I am assuming the risk of holding the escrowed Bitcoins, and I am using my own time to facilitate this transaction. As such, if it does not represent a burden to do so, please consider sending a bitcoin gratuity to 15rgGwpaAXzi5DgG3UkkFodKiRd1UMsor4 (valid for this transaction only) after the satisfactory resolution of this transaction.
This Contract is solely generated for the purpose of facilitating the transaction between the call buyer and the call seller, identified by the pseudonyms used on bitcointalk.org
The escrow holder, Daniel Hamilton (pseudonym DannyHamilton), assumes and gives no liability or guarantees on the satisfaction of all parties involved, although he agrees to mediate and facilitate the deal to the fullest extent he is capable of. On the event that any problems arise, he will release the escrow to whichever party presents him with the most convincing proof and after an open discussion with others and the moderators of bitcointalk.org.
Neither party should fund the escrow address or provide anything of value to the counter-party until the terms of escrow release have been determined and agreed to by both parties. If no other conditions are received, the default conditions of the contract assume:
This is an agreement for a vanilla european call option to purchase exactly 1 BTC with a strike price of (BitStamp last trade + $201.35) where BitStamp last trade is to be determined by mutual agreement and communicated by both parties to the escrow holder prior to the funding of the escrow address and an expiration of end of day UTC 2014-04-15.
The purchase price of the option is 0.065 BTC. The call option buyer will pay the purchase price to escrow, and the call option seller will pay the remaining 0.935 BTC to escrow to bring the total escrowed funds to exactly 1 BTC.
All parties will wait for at least 3 confirmations on both escrow transactions before considering this agreement to be in force.
If the BitStamp exchange rate on the last trade of 2014-04-15 UTC is less than or equal to the strike price for this option, the option will expire and the entire 1 BTC from escrow funds will be sent to the call seller.
If the BitStamp exchange rate on the last trade of 2014-04-15 UTC (market_price) exceeds the strike price for this call option, the option will automatically be exercised and the profit will be sent from the escrow funds to the call purchaser, with the remainder of the escrow funds being sent to the call seller.
Bitcoin profit at expiration, if the market price is higher than the strike price, will be calculated as ((market_price - strike_price) / market_price).
To add, change, or remove the release conditions, both the bitcoin provider and bitcoin receiver must communicate their acceptance of the modified terms with the escrow holder.
The written acceptance by both parties and the sending of bitcoins to the escrow address above constitutes the acceptance of the terms and conditions stated as well as acceptance of any mutually agreed escrow release conditions, and the activation of this agreement.
The following contact information can be used if the bitcointalk website becomes unresponsive before the transaction is complete:
- - REDACTED -
Thank you.
DannyHamilton (the escrow holder)
2014-04-05 05:00 UTC
Escrow: 1PT976p57RheCsEQ4RfNQbjz3sYTLzHAqu (valid for this transaction only)
Tips: 15rgGwpaAXzi5DgG3UkkFodKiRd1UMsor4 (valid for this transaction only)
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Version: GnuPG/MacGPG2 v2.0.22 (Darwin)
Comment: GPGTools -
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=hHwj
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