SR $100k+ bitcoin scam

[Kluge]

I don't get it.  What does Finalize Early do?

Releases funds from escrow (SR provides this for all transactions at no cost). When the buyer pays, he pays a Silk Road account, not the seller directly. Silk Road then notifies the seller the buyer has sent funds. When the buyer confirms he's received what he ordered (when the order's "finalized," rather), escrow funds are released to the seller. If the buyer claims the product hasn't arrived after x days, they enter an arbitration process with SR staff.

Finalizing early effectively bypasses escrow altogether and sends funds immediately to the seller before the buyer confirms receipt of goods purchased.

(IIRC)

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[archetyp]

well I think its important to remember,

if a deal is too good its a scam

[archetyp]

yeah I took a look over at SR,
now you even can't finalize for 3 days.

but one has to understand the sellers too, if they have to wait 20 days for their money.

Even worse is when the customer receive his goods but still claim it never arrived,
I don't even know how such people can get high or trip when knowing they screwed their supplier over.

[AndrewBUD]

That's why a lot of vendors ask for early finalization.. Money is an issue and scammers.... I for one have great stats and should never be asked for FE....

[Liberty Payout]

WOW, this is unfortunate, especially at a time like this.