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?
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
