Post
Topic
Board Beginners & Help
Re: Be VERY careful around goods, services, and websites in the Newbies subforum
by
Ipsum
on 14/08/2013, 23:25:55 UTC

Unlike Paypal, John doesn't have a history of abuse, doesn't blanket ban transaction types, and you deal with the same level-headed guy every time. Until there's reason to doubt him, I'd never suggest someone not use someone who's had the opportunity to steal millions of $ in BTC and never takes it. There are plenty of alternatives, but when introducing third-party risk, you want them to have a long and spotless history -- nobody fills that as well as John (speaking as someone who offers free escrow).

With all that - John IS an easy choice, so there aren't going to be many alternatives. Competition's always good, but nobody can out-compete him AFAIK, largely because he has such an established history, and asking less in fees than him is practically impossible. So while it's not decentralized - if you're serious about securing contracts, you can't do better than having the PM page for John bookmarked.

It's for the same reason I wouldn't recommend someone use a new wallet from a team nobody's ever heard of over the established and reviewed wallet software which's been out for years. Trust and reputation's worth a fortune when conventional legal systems are too cumbersome.

Good to know, thanks!

The risk with John K is probably that he doesn't have an institution around him that can survive his passing. If he were to have a heart attack today and die (not wishing it on him!), is there a substantial chance that all the funds in his btc escrow account would remain there, possibly forever locked away? Does he have a contingency plan?