Veritas Escrow Service / MultiSig m-of-n tx support [BTC/LTC/PPC/NVC/42]

[Serge V.]

Service features have been updated.

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[valeo-2]

Serge V. will be busy this week, if he not reply to you regarding the escrow, please contact him via Tox or contact with the 2nd agent. See first post for contacts details.

[Serge V.]

Reliable Loan with collateral escrow scheme successfully tested on DOGE:

1. Alice want to loan 80 coins from Bob and will provide own acc. for collateral.
2. Escrow agent creates 2-of-2 MultiSig address from Alice and Bob public keys.
3. Bob sends 160 coins to the MultiSig address.
4. Alice transfers her acc. to Bob after tx completion.
5. Escrow agent prepares 80 coins tx from MultiSig address to Alice.
6. Alice and Bob check and sign it, 80 coins goes to Alice, while others return to the Multisig address.

Bob is responsible for security of Alice acc., in case of failure he can lose 80+80 coins.
Alice is interested to return 80 coins, otherwise she can lose her acc.
Escrow agent is interested to be everything smoothly because he can lose his 1% fee and reputation (funds can be returned back via private keys input).

7. Alice returns the loan back to the MultiSig address.
8. After tx completion Bob returns acc. back to Alice.
9. Escrow agent prepares 160 coins tx back to Bob (-1% fee).
10. Alice and Bob check and sign it, 160 coins goes back to Bob (-1% to Escrow agent).

Choose 2-of-3 MultiSig escrow scheme if You want to add opportunity of arbitration. It will also protect you from losing, if one of the parties will disappear.

[Serge V.]

Are You still waiting for the escrow agent to come on-line and release Your funds? Choose 2-of-2 or 2-of-3 escrow scheme and do it without him!

1. Before the escrow the buyer/seller creates new address.
2. From the public keys of those addresses created MultiSig address.
3. The buyer sends founds to the MultiSig address.
4. The seller sends goods to the buyer.
Import of private key - is the simplest way to get the funds from the MultiSig address:
5. The buyer receives the goods and sends his private key to the seller (from the toolbar selects: Help>Debug window>Console>types "getprivkey 1xxxBuyerNewAddress">press "Enter").
6. The seller imports the private key (from the toolbar selects: Help>Debug window>Console>types "importrivkey 1xxxBuyerNewAddress">press "Enter") and owns the funds from the MultiSig address.

[Serge V.]

[Edited]. Reliable purchase/sell (also applicable for accounts) escrow scheme that motivates scammer to be honest to his trading partner (see discussion):

1. Before the escrow the buyer must have on the separate address of his wallet twice more coins than the goods costs (2x) and the seller must have on the separate address of his wallet as many coins as the goods worth (1x).
2. The escrow agent creates a transaction, according to which the buyer collateral & the buyer payment for goods (2x) + the seller collateral (1x) will be sent to the created from their public keys MultiSig address.
3. The buyer and the seller checks and sign the transaction, the transaction is broadcasted to the network.
4. After the transaction is confirmed, the seller sends the goods to the buyer.
5. The buyer receives the goods and informs the escrow agent.
6. The escrow agent creates the transaction, according to which the seller will receive the seller collateral & the buyer payment for goods (2x) and the buyer will receive the buyer collateral (1x).
7. The seller and the buyer checks and sign the transaction, the transaction is broadcasted to the network.

Seller is interested to send the goods to buyer because he can lose an amount equal to value of the goods.
Buyer is interested to release the funds after getting the goods, otherwise he can lose an amount equal to value of the goods.
Collateral will encourage both sides to be honest, and if something happens with the parcel to conduct a thorough investigation and find consensus.

[Serge V.]

Q. How to get my public key?
A. To get Your public key select from the wallet menu bar: Help -> Debug window -> Console -> than type "validateaddress 1xxxYourAddress" -> press "Enter".


Example:

a) 1EXH2DApdg9YdgKhTh7tFc1M7pSV2okYMF - is Your address.

b) In console: "validateaddress 1EXH2DApdg9YdgKhTh7tFc1M7pSV2okYMF" + "Enter".

c) You will get the public key:
{
"isvalid" : true,
"address" : "1EXH2DApdg9YdgKhTh7tFc1M7pSV2okYMF",
"ismine" : true,
"isscript" : false,
"pubkey" : "02853707a7647c838ab29266ac3e72217754ccf38e38d9bff0f2fed3fb34adac57",
"iscompressed" : true,
"account" : ""
}

[Serge V.]

Q. How to verify the correctness of created MultiSig address?
A. Before adding MultiSig address to Your wallet, make sure the command "addmultisigaddress" contains only public keys involved in escrow parties.


Example (2-of-3 MultiSig escrow):

Code:

addmultisigaddress 2 '["02853707a7647c838ab29266ac3e72217754ccf38e38d9bff0f2fed3fb34adac57","03db795d90000ac169baaa2d8f0b488eb71568d7ad84a74c40aa031a504170b6af","028a0f65d63c159b5c003dd33c91e78d0b592ef98d2eb7adb25d51c69f95c9b129"]'

a) 02853707a7647c838ab29266ac3e72217754ccf38e38d9bff0f2fed3fb34adac57 - Buyer public key
b) 03db795d90000ac169baaa2d8f0b488eb71568d7ad84a74c40aa031a504170b6af - Seller public key
c) 028a0f65d63c159b5c003dd33c91e78d0b592ef98d2eb7adb25d51c69f95c9b129 - escrow agent public key

[Serge V.]

Q. How to verify the final (release of funds) transaction before signing?
A. To verify the final transaction select from the wallet toolbar: Help -> Debug window -> Console-> than type "decoderawtransaction 01xxxUnsignedTransaction" -> press "Enter".


Example:

a) command for signing transaction (without signature):

Code:

signrawtransaction '0100000001be57043303a208e728fba88a069e40a049e3ab3bf9234258676cde0f130a566b0000000000ffffffff0100881300000000001976a914ab78c258721b4bb50e6e40d89f21270047239ea888ac00000000' '[{"txid" : "6b560a130fde6c67584223f93babe349a0409e068aa8fb28e708a203330457be","vout":0,"scriptPubKey":"a9144a9fe5f9c713337467faf7c2882f110b970bea6187","redeemScript":"5441048a0f65d63c159b5c003dd33c91e78d0b592ef98d2eb7adb25d51c69f95c9b129de0e844cd92d4140b08511c7889f617140818df73477119b68e19fcf22ad18f041047004d94c8b17cbf802c858f3473071c9b6da969dd8e7416665823681dba9ee871b3b46c2664d97a01b54da04929802ece62cf78478e5fb235d6351a77a8bd7872102853707a7647c838ab29266ac3e72217754ccf38e38d9bff0f2fed3fb34adac572103db795d90000ac169baaa2d8f0b488eb71568d7ad84a74c40aa031a504170b6af2103b73e78e3d2b2f69c8e6d187943d176d1ee29c499ca5dd680e7064b536150ae4655ae"}]'

The first part of the command contains unsigned (or partially-signed) rawtransaction.

b) decoderawtransaction 0100000001be57043303a208e728fba88a069e40a049e3ab3bf9234258676cde0f130a566b00000 00000ffffffff0100881300000000001976a914ab78c258721b4bb50e6e40d89f21270047239ea8 88ac00000000

result:
{
"txid" : "2113941ac0b12e4017c916a70b5c7dd9178a3a0abbc5928ccf1c94ff9d9af33e",
"version" : 1,
"locktime" : 0,
"vin" : [
{
"txid" : "6b560a130fde6c67584223f93babe349a0409e068aa8fb28e708a203330457be",
"vout" : 0,
"scriptSig" : {
"asm" : "",
"hex" : ""
},
"sequence" : 4294967295
}
],
"vout" : [
{
"value" : 0.01280000,
"n" : 0,
"scriptPubKey" : {
"asm" : "OP_DUP OP_HASH160 ab78c258721b4bb50e6e40d89f21270047239ea8 OP_EQUALVERIFY OP_CHECKSIG",
"hex" : "76a914ab78c258721b4bb50e6e40d89f21270047239ea888ac",
"reqSigs" : 1,
"type" : "pubkeyhash",
"addresses" : [
"1GdfDJD2Rmo6PZAkWPWP99nLe6kv7vxD9s"
]
}
}
]
}

According to transaction: 0.01280000 BTC will go to 1GdfDJD2Rmo6PZAkWPWP99nLe6kv7vxD9s.

[Serge V.]

If the forum is down, You can always reach us on litecointalk.org and in Tox (see main post for my and 2nd agent Tox IDs) or write to email.

[Serge V.]

Want to buy or sell bitcointalk account but can't find a good escrow? - Try simple and reliable MultiSig escrow scheme.

[Serge V.]

We are going to provide free dispute resolution service for forum members via bitrated.com, just start new arbitrated transaction with my or second agent public key.

See Bitrated FAQ for detailed explanations.

[Skyripper]

Hi! I need an escrow for a large amount of DOGE. Can you help me?

[Quickseller]

Hi! I need an escrow for a large amount of DOGE. Can you help me?

it would not be a good idea to use this person as escrow.

[Serge V.]

Hi! I need an escrow for a large amount of DOGE. Can you help me?

Sure! Please provide me details (PM).

[Serge V.]

it would not be a good idea to use this person as escrow.

Why not? You want to say that MultiSig escrow is not safe ?!? Please provide arguments to us, otherwise your words are worthless...

[Quickseller]

it would not be a good idea to use this person as escrow.

Why not? You want to say that MultiSig escrow is not safe ?!? Please provide arguments to us, otherwise your words are worthless...

multisig escrow does make sense however that is not what you are actually offering. You are offering escrow services using a multisig address (2 of 3) however you will control 2 of the 3 keys therefore you alone can spend the funds.

There is no reason to think that you would not run away once you receive funds from one of your actual customers.

[Serge V.]

multisig escrow does make sense however that is not what you are actually offering. You are offering escrow services using a multisig address (2 of 3) however you will control 2 of the 3 keys therefore you alone can spend the funds.

There is no reason to think that you would not run away once you receive funds from one of your actual customers.

Nope, we can control 2 of 4(!) keys only in one scheme that offered (3-of-4 escrow), read the thread! It is impossible to control 2 of the 3 keys in 2-of-3 escrow, because two keys belong to buyer/seller and only one key left for escrow... this already discussed.

Anyway, if Skyripper doesn't like to trust me, I would like to offer for him 2-of-2 advanced escrow scheme, MultiSig address will contain only buyer and seller pubkeys (without my pubkey!).

[Skyripper]

Hi! I need an escrow for a large amount of DOGE. Can you help me?

it would not be a good idea to use this person as escrow.

The problem is that I can not find anybody who can deal with DOGE, can you advice somebody? What is wrong with this service, is this a SCAM???

[Quickseller]

Hi! I need an escrow for a large amount of DOGE. Can you help me?

it would not be a good idea to use this person as escrow.

The problem is that I can not find anybody who can deal with DOGE, can you advice somebody? What is wrong with this service, is this a SCAM???

Yes it is most likely a scam.  If you send money to an address provided by this person then you will likely never see your money again. I can help you. I will send you a PM.

[Serge V.]

Yes it is most likely a scam.  If you send money to an address provided by this person then you will likely never see your money again. I can help you. I will send you a PM.

I will not provide any address to Skyripper, it will be generated automatically from buyer and seller pubkeys: https://bitcointalk.org/index.php?topic=865167.msg10174049#msg10174049.

Skyripper, be careful with Quickseller, check his reputation at first!