Would you put 200% of the cost of a Item in escrow?

[RiverBoatBTC]

Been talking to some people about escrow, one of the systems requires users to put the cost of a item in escrow time two.

For instance you buy a miner for 5BTC  you must put 10BTC into escrow.

The seller is also required to put up the cost of the item into escrow.

If you and the other person do not agree you and the seller lose all the coins to the escrow system. So the system would get 15BTC from the dispute.

Would you use a system like this?

[RiverBoatBTC]

Need some more votes

[RiverBoatBTC]

trustless. I am trying to prove to bitbay, the average user will not and can not afford to use such a system. They are high on some sort of kool aid and refuse to listen.

Not only that if you are a merchant and have 100 items for sale at .25 btc a piece you have to escrow 25BTC. Does that sound usable to you?

There answer so far is... we will have only trusted sellers so there will be no need for escrow 

[mmmaybe]

What's the argument for the system?

[RiverBoatBTC]

What's the argument for the system?

Its super duper safe... no middle man.. no fee's.

[EvilDave]

Just to elaborate on my 'No' vote: I had a look at the BitBay escrow system, and my first thought was that this is simply not going to fly. I do not believe that anyone will be willing to put so much on the line in an escrow system, especially if you lose the escrow amount if a deal falls through.

The idea behind it is a good one, to establish an eco-system of trusted buyers and sellers, but getting people to make the first steps needed to build up a trustworthy rep under this system is going to be very difficult, I reckon.

[RiverBoatBTC]

Just to elaborate on my 'No' vote: I had a look at the BitBay escrow system, and my first thought was that this is simply not going to fly. I do not believe that anyone will be willing to put so much on the line in an escrow system, especially if you lose the escrow amount if a deal falls through.

The idea behind it is a good one, to establish an eco-system of trusted buyers and sellers, but getting people to make the first steps needed to build up a trustworthy rep under this system is going to be very difficult, I reckon.

I talked to syscoin about it they were going to use the same system. Know what they said, good point we will fix it and add another option. Check out syscoin escrow options much better.

[Snail2]

200% and the seller also have to put up the full price, and then loosing all if there's an argument  ?!? That's insane. The most basic interest of the escrow is driving as much deals to failure as they can .

To be honest, I've seen people here getting scammer tags (negative trust nowadays) for much less than this business model.

[RiverBoatBTC]

200% and the seller also have to put up the full price, and then loosing all if there's an argument  ?!? That's insane. The most basic interest of the escrow is driving as much deals to failure as they can .

To be honest, I've seen people here getting scammer tags (negative trust nowadays) for much less than this business model.

They have a huge pitcher of koolaid they are drinking in bitbay, and its got them plum stupid on the matter.

But the called me ignorant for bringing up the problem "cause I just don't get it" lol

[defaced]

This is called double deposit escrow and basicly how bitHalo works

[djm34]

First question who will be the escrow?

+1 and how much would it cost in fee...
(escrow aren't cheap around... so the no fee system... not so much...)
but that's a good opportunity for the escrow 

[redsn0w]

I like the traditional escrow system , and I think also it works properly . However maybe in the future the system will be implemented

[RiverBoatBTC]

I like the traditional escrow system , and I think also it works properly . However maybe in the future the system will be implemented

I agree, anyone who is investing in bitbay as a marketplace is a fool. It has nothing that you can not do with out it.

You can use multisig for smart contracts
Syscoin is has a wroking proof of concept for decentralized markets.

and the bitbay community is full of tardo's that have had 1 to many glasses of bitbay koolaid lol

[RiverBoatBTC]

Bump

[TheMage]

I've never had to use escrow before, but I have escrowed for many many people. I've only had 1 instance of something not going right. I always tell both the buyer and the seller before we proceed that in the event of a dispute I have full authority to decide how the coins should be distributed (I also state that if there was a dispute, I will be giving up my fee amount).

[qawzsx]

Been talking to some people about escrow, one of the systems requires users to put the cost of a item in escrow time two.

For instance you buy a miner for 5BTC  you must put 10BTC into escrow.

The seller is also required to put up the cost of the item into escrow.

If you and the other person do not agree you and the seller lose all the coins to the escrow system. So the system would get 15BTC from the dispute.

Would you use a system like this?

First of all, you are stupid
Second, you don't need to put 200%
Third, the system would get nothing from the dispute

The conclusion, you are stupid

You put WHATEVER amount you agree with the party. Seller and buyers agrees whatever the amount suits them best.

There no "if you and the other person do not agree". If that happens in a friendly manner, both seller and buyer gets their escrow "fee" back.

This system can only work like this... lose-lose or win-win. The incentive for scamming the party is 0, so why bother starting a fraudulent transaction?


oh, and lets not forget, you are stupid

[RiverBoatBTC]

Been talking to some people about escrow, one of the systems requires users to put the cost of a item in escrow time two.

For instance you buy a miner for 5BTC  you must put 10BTC into escrow.

The seller is also required to put up the cost of the item into escrow.

If you and the other person do not agree you and the seller lose all the coins to the escrow system. So the system would get 15BTC from the dispute.

Would you use a system like this?

First of all, you are stupid
Second, you don't need to put 200%
Third, the system would get nothing from the dispute

The conclusion, you are stupid

You put WHATEVER amount you agree with the party. Seller and buyers agrees whatever the amount suits them best.

There no "if you and the other person do not agree". If that happens in a friendly manner, both seller and buyer gets their escrow "fee" back.

This system can only work like this... lose-lose or win-win. The incentive for scamming the party is 0, so why bother starting a fraudulent transaction?


oh, and lets not forget, you are stupid

And this is what you get with bitbay people.. lol

The head dev of bitbay explains it exactly like I said it http://youtu.be/wZp3Up5Y4pE?t=5m47s

[qawzsx]

Been talking to some people about escrow, one of the systems requires users to put the cost of a item in escrow time two.

For instance you buy a miner for 5BTC  you must put 10BTC into escrow.

The seller is also required to put up the cost of the item into escrow.

If you and the other person do not agree you and the seller lose all the coins to the escrow system. So the system would get 15BTC from the dispute.

Would you use a system like this?

First of all, you are stupid
Second, you don't need to put 200%
Third, the system would get nothing from the dispute

The conclusion, you are stupid

You put WHATEVER amount you agree with the party. Seller and buyers agrees whatever the amount suits them best.

There no "if you and the other person do not agree". If that happens in a friendly manner, both seller and buyer gets their escrow "fee" back.

This system can only work like this... lose-lose or win-win. The incentive for scamming the party is 0, so why bother starting a fraudulent transaction?


oh, and lets not forget, you are stupid

And this is what you get with bitbay people.. lol

The head dev of bitbay explains it exactly like I said it http://youtu.be/wZp3Up5Y4pE?t=5m47s

No, this is that YOU (RiverBoatBTC) gets, since you are just a low life BS spreader.

No you monkey, that's how YOU understand, not how he explains it. Double escrow does not mean 200% of the cost of item. Double deposit escrow means that both BUYER and SELLER must cover the escrow.

[RiverBoatBTC]

Been talking to some people about escrow, one of the systems requires users to put the cost of a item in escrow time two.

For instance you buy a miner for 5BTC  you must put 10BTC into escrow.

The seller is also required to put up the cost of the item into escrow.

If you and the other person do not agree you and the seller lose all the coins to the escrow system. So the system would get 15BTC from the dispute.

Would you use a system like this?

First of all, you are stupid
Second, you don't need to put 200%
Third, the system would get nothing from the dispute

The conclusion, you are stupid

You put WHATEVER amount you agree with the party. Seller and buyers agrees whatever the amount suits them best.

There no "if you and the other person do not agree". If that happens in a friendly manner, both seller and buyer gets their escrow "fee" back.

This system can only work like this... lose-lose or win-win. The incentive for scamming the party is 0, so why bother starting a fraudulent transaction?


oh, and lets not forget, you are stupid

And this is what you get with bitbay people.. lol

The head dev of bitbay explains it exactly like I said it http://youtu.be/wZp3Up5Y4pE?t=5m47s

No, this is that YOU (RiverBoatBTC) gets, since you are just a low life BS spreader.

No you monkey, that's how YOU understand, not how he explains it. Double escrow does not mean 200% of the cost of item. Double deposit escrow means that both BUYER and SELLER must cover the escrow.

You sure are a angry little fellow, its ok I know you drink from the bitbay koolaid but when it all comes crashing down. I will just give you a little 

[qawzsx]

Been talking to some people about escrow, one of the systems requires users to put the cost of a item in escrow time two.

For instance you buy a miner for 5BTC  you must put 10BTC into escrow.

The seller is also required to put up the cost of the item into escrow.

If you and the other person do not agree you and the seller lose all the coins to the escrow system. So the system would get 15BTC from the dispute.

Would you use a system like this?

First of all, you are stupid
Second, you don't need to put 200%
Third, the system would get nothing from the dispute

The conclusion, you are stupid

You put WHATEVER amount you agree with the party. Seller and buyers agrees whatever the amount suits them best.

There no "if you and the other person do not agree". If that happens in a friendly manner, both seller and buyer gets their escrow "fee" back.

This system can only work like this... lose-lose or win-win. The incentive for scamming the party is 0, so why bother starting a fraudulent transaction?


oh, and lets not forget, you are stupid

And this is what you get with bitbay people.. lol

The head dev of bitbay explains it exactly like I said it http://youtu.be/wZp3Up5Y4pE?t=5m47s

No, this is that YOU (RiverBoatBTC) gets, since you are just a low life BS spreader.

No you monkey, that's how YOU understand, not how he explains it. Double escrow does not mean 200% of the cost of item. Double deposit escrow means that both BUYER and SELLER must cover the escrow.

You sure are a angry little fellow, its ok I know you drink from the bitbay koolaid but when it all comes crashing down. I will just give you a little 

I'm not angry you shithead, i'm just straight as an arrow and I'm not following my tail before saying something in someones face.

You learn a freaking new work and you are repeating that shit like a broken clock. koolaid, koolaid...your post history is full of it.