Inquiry: How important is Multisig to you, the Buyer?

It seems that the most popular markets aren't those who offer multisig and the ones that do, the vendors don't seem to use it.

As a buyer, how important is this to you?

The reason I inquire is that I shall be vending soon and so far BlueSky seems to be the market of final choice. They do not offer Multisig and intially I don't expect that much in escrow that I couldn't stand if the market went down for whatever reason. Once we grow, we would look into other options.

I wanted to inquire with you though. As a buyer myself, is wasn't all that important.

EDIT: Thanks everyone for the responses! A simple question turned into a great discussion! I feel great to be apart of such a wonderful community!


Comments


[14 Points] None:

[deleted]


[6 Points] None:

For us as buyers the classic escrow is good enough security measure. Multisig is important for you as vendor. If the market goes down or even finally closes you don't lose your money on escrow account. Our two signatures will release money to your wallet.


[4 Points] liberty-throw:

I wouldn't want my vendors getting their money stolen.


[3 Points] None:

[deleted]


[3 Points] oVerde:

It's unnecessary, as a buyer.


[2 Points] galaxyandspace:

A question in return. Have you ever crafted or completed a Multisig Tx? For your average user, both vendor and buyer, it can be hard. Text only environments are scary, and require a lot of knowledge to know how to proceed. Even generating key sets can be confusing for some users. The solution? GUI driven Multisig, both on and off the marketplaces. Only one market, (BlackBank) offers this. It still scares people away with the generated backup tx. Also, a lot of vendors choose not to use Multisig on the site, as they too can't grasp it.

Multisig is the hero we have, but nobody can use, yet. Multisig eliminates the need to FE, partially eliminates the success of stealing a markets funds, and is the next step towards long term stability. But first we need more good GUIs (looks at Electrum) for Multisig.

Ask this question in 5 months, and you may get a totally different answer...


[2 Points] iamcollective:

I use only mustisig transactions for any buy over ~20$. totally awesome! i dont understand why most people are too lazy... its an extra 2 or 3 minutes once you understand it and totally worth it imo. gogo multisig!


[2 Points] GrandWizardsLair:

The Grand Wizard's Lair is now offering multisig transactions on Cloud9 and TorBazaarBeta. Personally, the Grand Wizard finds multisig to be an enormous pain in the tuchus and a solution in search of a problem. But because my customers have demanded that extra layer of safety, the Grand Wizard has spared no expense and effort to bring you the 2-of-3 transactions you demand. And because I'm well-stocked on clonotril, I was even able to keep calm while figuring the ferschlugginer thing out.


[1 Points] dankrussian:

It's not necessary if you use a trusted legit vendor that offers escrow. There simply isn't a reason to FE unless you know the vendor will come through (impossible, regardless of how many times you've ordered from the vendor).

But yeah I agree with the posts here it seems that no market has had any success in implementing this into a more user-friendly interface than what's out there now. Most successful markets still use centralized escrow (Agora and SR2 are the most popular markets by far).

Perfect post above me that explains it in more detail ^


[1 Points] ohThisUsername:

I don't even know what it is or how to use it. I have a trusted Vendor on Agora so I've been sticking with that market.


[1 Points] lopeor:

I only use regular escrow if I really want a product that is not available with multisig. Even if it is more expensive with multisig.


[1 Points] bziop:

On a well-done market with honest escrows multisigning is useless, and otherwise it is, well..., useless because if any stakeholder, vendor or customer, is the escrow accomplice he will fuck the other party.

If the escrow is honest multisigning adds a safety layer for any party, vendor and customer, if the other party disappears during the transaction, nothing more.

During most disputes even a honest escrow just cannot establish who is right. What exactly was sent and received? Who's lying?

Fully immaterial thingies, for example a tuto file, an honest escrow, a vendor accepting to let the escrow obtain the thingie beforehand and inspect it, all parties letting the escrow monitor payment on the blockchain: this can be solid, but it works w/o multisig.

You need a bit of trust, and multisig doesn't add anything decisive on this side.


[1 Points] None:

Almost entirely inconsequential for me, personally. I understand the rationale for it, though, and think it's generally a good idea.


[1 Points] tom_team:

On TOM we are trying to convince people to use MultiSig. We made a presentation about it... http://theonionmarket.org/multisig-presentation.html


[0 Points] throwawayaccountgay:

It's so pointless. Other markets have tried doing it and barely any transaction use multisig. Many people find it difficult and inconvenient so they don't bother figuring it out.