Blazed (OP)
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October 27, 2014, 02:14:34 PM |
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Just curious why so many people want to become an escrow service on these boards? I myself have been asked probably 50+ times to start offering such services. I never wanted too since I think it would just be a hassle, but is being an escrow that profitable? Or do people just want more trust? Thoughts?
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Lethn
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October 27, 2014, 02:16:23 PM |
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For people like me it seems like the only way to get trust frankly, people are understandably so scared of being scammed they won't even think about taking a risk with a startup even when they're producing physical goods, even then I'd still escrow if people wanted to buy from me to be on the safe side.
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Blazed (OP)
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October 27, 2014, 02:17:51 PM |
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For people like me it seems like the only way to get trust frankly, people are understandably so scared of being scammed they won't even think about taking a risk with a startup even when they're producing physical goods, even then I'd still escrow if people wanted to buy from me to be on the safe side.
It is very hard to gain trust here with so many scammers  |
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Lethn
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October 27, 2014, 02:20:07 PM |
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Yeah, stupidly hard and I've been here for two years.
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sherbyspark
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October 27, 2014, 02:20:41 PM |
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Just curious why so many people want to become an escrow service on these boards? I myself have been asked probably 50+ times to start offering such services. I never wanted too since I think it would just be a hassle, but is being an escrow that profitable? Or do people just want more trust? Thoughts?
I think its mostly for trust on the forums. Unless you are not escrowing a large amount, you will not be making a big commission off the fee. I doubt that the people on the forum who start escrow services get too many people to use their services, except for the members who have been doing it since a long time. Also, I don't understand why is trust so important on the forums, unless you are buying/selling stuff a lot of times. Other times, you can simply use an escrow for the same instead of requiring you to have a trust for it. |
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redsn0w
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#Free market
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October 27, 2014, 02:21:00 PM |
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Just curious why so many people want to become an escrow service on these boards? I myself have been asked probably 50+ times to start offering such services. I never wanted too since I think it would just be a hassle, but is being an escrow that profitable? Or do people just want more trust? Thoughts?
I do from escrow only for help the negotiations between the forum users , for me it is not profitable because I'm only asking for a small donation ( sometimes 0.005 btc not more than this). However we are in the wrong section . |
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Magic8Ball
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October 27, 2014, 02:24:40 PM |
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I would expect a decent profit. I just started giving out loans and it does look it makes you some profit. For people like me it seems like the only way to get trust frankly, people are understandably so scared of being scammed they won't even think about taking a risk with a startup even when they're producing physical goods, even then I'd still escrow if people wanted to buy from me to be on the safe side.
I think you should not have a problem. People have been leaving collateral with me without ever asking twice. I guess the activity still has some pull. |
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Lethn
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October 27, 2014, 02:27:50 PM |
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I suppose I could try lending money again, but it's so damn scammy even more so than with Bitcoin in general, going to have a think about that one.
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btcmaze
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October 27, 2014, 02:31:24 PM |
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Well, both are risky enough.
Escrowing is safer than lending but less profitable.
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devthedev
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October 27, 2014, 02:34:18 PM |
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I rather focus towards the long term economy rather than short-term profit. I offer escrow services due to the increase in users with malicious intent trading goods and services. I've observed that providing escrow services has effectively reduced the amount of scammers in the community and has thwarted many attempts of taking advantage of others.
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Lethn
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October 27, 2014, 02:59:40 PM |
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Yeah, I'm staying the fuck away from the lending section, as for the long term economy I agree, I want to make myself a properly established business, I knew it was going to be hard, but just not that it would be suicidal lol.
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caga
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www.secondstrade.com - 190% return Binary option
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October 27, 2014, 04:34:37 PM |
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The number of scams happening with bitcoin force people to use the escrow services, and for me, whichever trusted member is online at the time can be requested for escrow.
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Blazed (OP)
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October 27, 2014, 06:05:38 PM |
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Well that is 1 nice thing you get for having some good feedback/trust...you do not have to send first! I rarely have to use escrow anymore most people just send first then I pay later.
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scarsbergholden
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October 30, 2014, 06:51:11 AM |
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Well that is 1 nice thing you get for having some good feedback/trust...you do not have to send first! I rarely have to use escrow anymore most people just send first then I pay later.
This is why people want to be able to act as escrow. It will help them quickly build up trust without any cost to them. When someone wants to build up trust, they will need to either buy or sell items which will cost them money. However if they are only acting as a middle man then there is no cost to them. Once they build up trust they can potentially scam for larger amounts as they can potentially engage in multiple deals in a short period with the other person always sending first |
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MadZ
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October 30, 2014, 09:14:26 AM |
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Well that is 1 nice thing you get for having some good feedback/trust...you do not have to send first! I rarely have to use escrow anymore most people just send first then I pay later.
This is why people want to be able to act as escrow. It will help them quickly build up trust without any cost to them. When someone wants to build up trust, they will need to either buy or sell items which will cost them money. However if they are only acting as a middle man then there is no cost to them. Once they build up trust they can potentially scam for larger amounts as they can potentially engage in multiple deals in a short period with the other person always sending first Providing escrow services really doesn't enhance one's trust as much as you seem to think it does. If I offered to act as escrow for a sale you were making, you would (hopefully) decline my offer, since I do not have a long history of transactions on this forum. One can only become an escrow after establishing a good reputation through normal trading. The level of trust one needs to be considered an acceptable escrow is greater than the level of trust needed to convince others to send first when trading. Yes, while a reputation as a good escrow would allow someone to scam easily and in large volume, the reputation one must build up to be considered as escrow in the first place allows for pretty much the same thing. There really isn't too much to be gained for a scammer through escrow services, unless they are chosen for a particularly large deal. |
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