Post
Topic
Board Service Discussion
Re: How does localbitcoins work?
by
cocopopcorn
on 11/09/2019, 13:09:22 UTC
I think I over complicated my question basically all I want to know is does btc travel directly from Buyer to seller so

seller > escrow  > (everythings good) seller > buyer


Or does the actual bitcoin travel through the 3rd part


seller > escrow > (everything good) > seller


Reason I ask is because if they actually took the bitcoin from the sellers wallet to their own 3rd party wouldn't it take at least 1 confirmation before the trade could continue? Also as soon as a trade is complete buyer can send it straight away elsewhere

Or do LBC "take the risk" (no risk because they have full control and give the illusion bitcoins have moved from your wallet etc?


If they do take it to their own pile .. isn't this kind of mixing coins since all on going trades will be in one big pot?