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Questions tagged [escrow]

A trusted third party that holds something of value until both sides are happy.

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1answer
28 views

why bitcoin escrow don't use fiat currency?

Cryptocurrency escrow, like localbitcoins.com, use bitcoins as guaranty funds. Seller transfer bitcoins to merchant as guaranty, later when buyer has paid with fiat money to seller, merchant make ...
0
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0answers
22 views

How can users verify bitcoin escrows, or any bitcoin smart contract?

Coming from an ethereum background, one can view a contract that you send ether to before you send it and verify that the logic works as advertised. How can bitcoin users do the same? Or am I ...
1
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1answer
68 views

ScriptSig in bip65 escrow example

In the bip65 there is an example how it can be used for escrow in combination with a multisig. See: https://github.com/bitcoin/bips/blob/master/bip-0065.mediawiki#Escrow There it claims that the ...
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0answers
63 views

How will the escrow system work on the Request Network?

On the official Request Network website it says that the network will have an escrow system. However, I cannot wrap my head around how this would work without a third party. How will the escrow system ...
2
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1answer
159 views

Is there an escrow-like mechanism that doesn't involve a trusted 3rd party?

We know that escrow mechanisms are easy to implement when it involves a trusted 3rd party. For example if A and B don't trust each other they can simply send their goods to C whom they both trust. ...
1
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1answer
237 views

How can trading phisical goods in the blockchain be safe?

Suppose we have two people: a merchant (Bob) and a buyer (Alice). Alice wants to buy an expensive good from Bob in excange of bitcoins, so she contacts him and sends him the amount of bitcoin needed. ...
3
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2answers
291 views

Who is the decision body for forking a blockchain ledger?

Is it fair to compare the decision body responsible for forking a blockchain as 'escrow officers'? How can users of the blockchain network dare to the treat the distributed ledger as immutable as long ...
3
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1answer
315 views

I'm trying to create a new kind of escrow with bitcoin, not sure if it's possible

First off, I understand that the standard way to do escrow with bitcoin is a P2SH with a 2 of 3 multisig redeem script. I'd like to try and do escrow in the following way: names of 3 parties involved:...
7
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1answer
1k views

Implementing Multi-Sig Escrow?

I want to start a BTC market. I understand all the ways to go about creating a site, it's just the payment implementation which confuses me. I want multi-sig transactions capable between my users on ...
-1
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1answer
204 views

How many confirmations do bitcoin escrow websites wait on average?

To me it seems very dangerous not to wait for 6 confirmations when running an escrow. The scenario I'm thinking of: a miner deposits a large sum of bitcoins the escrow waits for one or two ...
1
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1answer
230 views

Escrow Services [closed]

Can anyone recommend an honest/reliable escrow service? With the ones I found searching the internet is that few of them are publishing their physical location so it's difficult to verify they ...
2
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1answer
98 views

Check if a user pays another user for bitcoin website

I am creating a bitcoin website. I would rather the bitcoin didn't go through my website to prevent any security issues. What happens is one user pays another user, and when that happens my website ...
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0answers
69 views

Bitcoin contracts with stickK.com functionality

Does a BTC service/application allow me to set a nTimeLock transaction that can be interrupted by a single predetermined 3rd party before the transaction has been made public? If a service like this ...
2
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1answer
82 views

Limit wallet to sending funds to a list of addresses

Imagine a scenario. There are 3 parties: Party A, Party B and a mediator party C. A and B transfer each 1 BTC to a newly created wallet W owned by C. The function of C is to distribute the entire 2 ...
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0answers
53 views

can we create subjective trading platform using bitcoin and smart contract where payments are taken in stages?

Is it possible to create a subjective trading system (for eg: second hand goods like laptops, television cell phones etc) using concepts of bitcoins and smart contracts. Payments on the system would ...
0
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2answers
664 views

Escrow outputs show incorrect destination addresses in Blockchain.info

I'm interested in the following multisig transaction 3a0c283c8574205c2cc95cea0e603bfff9087af2ab0360ebd2e98740a3193a18 If I query bitcoind for information about it using the following command $> ...
3
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1answer
306 views

How to get bitcoin P2SH (3*) address balance with bitcoind

i'm trying to understand how to calculate/obtain balance of a P2SH address added to my running bitcoind with "addmultisigaddress..." and that is properly displayed by the command "...
1
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1answer
192 views

multisig without tying up funds

Is it possible to enable a 2 of 3 transaction without the escrow component defined as "nobody can run off with the funds but the funds have to exist" In a scenario where A wants to pay C and requires ...
2
votes
1answer
314 views

Help understand multi-signature transactions

I'm not a technical guy by any means, and I'm having alot of difficulty understanding Multi-signature Transactions. Would an expert have time to try to "dumb down" the basics for me using some sort ...
1
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2answers
125 views

What escrow system does the official Bitcoin bounty progam use?

There is a list of bounties on the wiki here: https://en.bitcoin.it/wiki/Active_Bounties How are the BTC pledges collated and eventually paid? I assume there is some kind of escrow system but I can'...
5
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1answer
364 views

Escrow multisig output tx

Can someone please explain the third (Escrow) output transaction listed here: https://blockchain.info/tx/09dd94f2c85262173da87a745a459007bb1eed6eeb6bfa238a0cd91a16cf7790?show_adv=true What the ...
2
votes
1answer
480 views

Multi-Signature Transaction - Verify First Signature is Valid?

Using Gavin Anderson's TwoOfThree.sh Gist located here: https://gist.github.com/gavinandresen/3966071 Is it possible to verify the first "partial" signrawtransaction is valid from the known public ...
2
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1answer
275 views

Completely confused with mutisig address and scripts

I used the guide, how to make escrow from bitcoin console. Here are my transactions in testnet: tx1 tx2 I am confused about ScriptPublicKey in tx1: OP_HASH160 ...
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0answers
93 views

Seeking specific advice on three-party/escrow-type transactions

I'm a professional mediator just learning about bitcoins, and I have a specific question. I have been asked by someone if I am able to be the "third party" for a Bitcoin transaction. In other words, ...
0
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1answer
164 views

Having trouble setting up the escrow function - returns transaction ID but doesn't get to blockchain?

Looking at both this example: https://earlytemple.com:8181/index.jsp and this example: https://gist.github.com/gavinandresen/3966071 I think I plowed through everything to the point where I was doing ...
5
votes
1answer
190 views

How do big sites/markets handle the intrinsic “transaction fees”?

For example, on the late SilkRoad market, or in bitcoin mixing services. They supposedly have a "pool" account (or escrow acct, etc) where all the coins go in to, and from which withdrawals are made. ...
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2answers
434 views

Who provides the computers and infrastructure for bitcoin transactions to happen? [duplicate]

I am new to bitcoin. I have some fundamental questions. If bitcoin does not have any centralized entity controlling it, who provides the infrastructure for the trades to happen? Does this has ...
7
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1answer
7k views

How do I use Multisig transactions to handle escrow needs?

I want to do a private escrow between me and someone else for a Bitcoin miner, and it will take weeks or months for that miner to arrive. I think multisig is an easy trust-free way to accommodate ...
7
votes
3answers
1k views

What clients support escrow transactions apart from Blockchain's MyWallet?

By escrow transactions I mean basic 2 of 3 multi-signature transaction like here https://blockchain.info/wallet/escrow Are there any other bitocoin clients where I can do this?
2
votes
2answers
759 views

Why don't bitcoin escrow transactions require a third party?

I've read this article: What are "routine escrow mechanisms"? But I don't understand the bitcoin escrow system. Can anyone explain me how this escrow system doesn't need a third party ? ...
6
votes
2answers
2k views

What are “routine escrow mechanisms”?

The original Nakamoto paper states routine escrow mechanisms could easily be implemented to protect buyers What is meant by "routine escrow mechanisms"?
4
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3answers
520 views

How much escrow/ Multi-signature transactions are done?

I have read here about the possibility of Multi-signature transactions. Is there a statistic available how much of these are done?
4
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1answer
147 views

Promise-to-pay functionality without escrow where sellers vote if they should pay

Is there a promise-to-pay functionality with no escrow where a seller can set a bitcoin address for buyers to send promise-to-pay bitcoins. Once seller fulfills his promise, the buyers will confirm ...
6
votes
1answer
2k views

How can I create an eWallet in PHP?

My experience with PHP is not the best, but it's good enough to learn and expand. I wish to create a Bitcoin eWallet for my website where it automatically creates a Bitcoin wallet for users. This ...
12
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1answer
5k views

How does one make multisignature transactions with the bitcoin client?

With the release of bitcoin version 0.6.1rc2, it is now possible to do M-of-N required signature transactions in the main network. But how does one actually perform such a transaction? I've been ...
5
votes
1answer
710 views

Using Bitcoin contracts to run a betting site without the need for deposits?

There are a couple of bitcoin betting sites, but they all seem to require making a deposit with them. Is it possible to somehow use the Bitcoin contract system to establish a distributed betting pool? ...
9
votes
1answer
788 views

How do I implement an escrow service using Bitcoin contracts?

I can see that Bitocin can provide escrow contracts. https://en.bitcoin.it/wiki/Contracts#Example_2:_Escrow_and_dispute_mediation Can someone provide a worked example or even better a pointer to a ...
9
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1answer
175 views

Is there a way to publicly raise Bitcoin funds?

What services are available to publicly raise Bitcoin funds? I'm considering setting up a Bitcoin fund that would accept BTC donations. If the fund doesn't reach a certain value after a time, I'd ...
9
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4answers
2k views

Decentralized escrow functionality built into Bitcoin?

AFAIK there are a few websites out there that offer escrow services for Bitcoin. Those however are central, i.e. I have to "trust" them. Is it being discussed, is it theoretically possible, or does ...
19
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8answers
7k views

Which Bitcoin escrow services are available - and reliable?

For some transaction, the possibility of generating "chargebacks" might be very useful. For example, when trust cannot be established between both parties. In such cases, a trusted third party may be ...