So a few markets just exit scammed. How long will you vendors be taking this, every couple of months you lose your entire escrow.
Problem is that buyers don't want to use multisig. They don't lose much on an exit scam. The vendor benefits from multisig but not the buyer not too much.
The solution is to offer a discount for using multisig (or make non-multisig more expensive). Split the benefits of multisig between vender and buyer, then buyers will be motivated enough to learn and use it.
Example for 1oz of weed
Non-multisig | Multisig |
---|---|
$200 | $160 |
Look at this vendor, who got back 90% of his escrow coins when BlackBank exit scammed. https://www.reddit.com/r/DarkNetMarkets/comments/39u7wo/market_outlaw_market_new_version_coming_soon/cs6r2ad
I was the only large multi-sig exclusive vendor on BB that I know of. As of today, I have retrieved ~16BTC of the 18 that were in escrow at the time of exit (despite BB's shoddy implementation!)
Multi-sig is a resounding success in my eyes. Everyone else lost coins. I didn't
Some people are worried are anonymity. Saying multisig addresses (called pay-to-script-hash or p2sh in the bitcoin protocol) will stand out more on the blockchain.
Actually, more than 9% of all bitcoins are held in p2sh-multisig addresses. Lots of exchanges and bitcoin investors use multisig for secure storage, if you use bitstamp or other exchanges, you'll see if they give you multisig addresses to deposit coins into.. The reasoning is that hackers need to break into all their hardware and backups instead of just one. See this site: http://p2sh.info/
So no, using multisig isn't suspicious or much less anonymous.
Thumbs up I'm with ya