[CommunityDiscussion] A Idea to prevent coin loss during exit scam.

This would only work for FE orders. But heres what happens.

  1. Vendor provides market with the vendors own bitcoin address's.

2.When order is made the market provides buyer with one of the address's the vendor provided and buyer sends the bitcoin there.

3.At the end of the day the vendor is required to send the market there share for fee's or their account is shut down.

Would this work or am I missing something?


Comments


[4 Points] DeafPirateRoberts:

or multi-sig -- which evolution had but nobody wanted to be bothered with utilizing


[1 Points] darknetQuest:

I see a couple places for flaws. How do you make sure the market sends the right address, and how do you enforce the fee?


[1 Points] PsychedelicTangerine:

best is is every vendor uses there own market liek Bungee


[1 Points] FE_ForTrustedOP:

the problem with this is the vendors address would likely get flagged by coinbase and peoples accounts would start getting banned (maybe not the 1337 D4RKN3T users from this sub, but your average buyer operating with zero opsec). Also a lot of vendors don't tumble their coins either, so you would probably see a lot more vendor arrests.

I don't see why the market can't just have the buyer send funds directly to an address though when placing an order, rather than having a wallet on site. Seems unneccessary. Then if it was a FE order the market could forward the funds directly out to the vendor


[1 Points] Theeconomist1:

Problem is most listings are escrow. You still need a concept of escrow. Multi sig is the way to go. Basically 3 parties hold the keys needed to release funds. Funds are outside of market control. 2 of 3 keys needed to release funds. One is held by buyer, one by seller and the other is the arbitrator such as the market. Since only 2 keys needed to release funds you don't need market to complete a transaction.