Post
Topic
Board Service Discussion
Re: Best practices for Bitcointalk escrow providers
by
Quickseller
on 30/10/2021, 14:59:21 UTC
Well it is the escrow's job to ensure the trade goes smoothly, and if it doesn't to see that the scammer does not end up with the money. That is what they are getting paid to do. If the escrow is not willing to do basic due diligence before releasing the money, I don't see the point of using them.

The amount in question in this case is $50k. I don't think it is unreasonable to use a little bit of care when dealing with that much of other people's money.
How would you care more when the same person (here same account) is telling you to make a change in the deal? If there was no hack involved we would not see the scam. The situation was real tricky and anyone would have been victim of it. MJ did not keep the money after all.
When the terms are changed after money has been sent to the escrow address, the escrow agent needs to be sure that everyone is on the same page. MJ should have delayed releasing the money. This might be inconvenient for the parties involved, but it is the escrow agent's job to ensure a safe transaction.

If the delivery is in-person you don't need escrow.

Unless if you are afraid of might you going to meet/ see in your meeting point.

You mean like getting robbed? Online escrow won't help with that.

Yes. Probably won't help but it depends on how anyone thinks of it. For some, it might sound like a safety measure while for others a useless action.
The thing is that here the scammer has the mine trap setup and ready to blow. I doubt that there is anyone who would be able to notice it or think that the account was compromised and freeze the deal. Unfortunately, it might happen to anybody.
No, using escrow for an in-person transaction will not protect you. There will still be the potential one party gets robbed. It will also be impossible for the escrow agent to determine which party should get the money in the event of a dispute.