Silk Road forums
Discussion => Newbie discussion => Topic started by: Lithranain on January 22, 2013, 12:37 am
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Hello Silk Road, I'm really new to this site and i'm a little confused with the escrow system.
I read the buyers guide but I still don't get how the Escrow system works or how I can use or access it, is it something I have to sign up for? Is it an option that I can check when making the order? Could anyone please enlighten me?
thank you ;D
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The escrow system is something you get for free being on the Road. ;)
It works like followed: You order something; send you encrypted receiving address to the seller; confirm you order; the amount of BTCs you have to spend for the gear is frozen/hold in the SR system; you receive your order (YIIIPPPIE); you release your BTCs to the seller. Everybody is happy :)
Hope I could help
And never never ever Finalize Early (like release your BTC before you get the gear)
-Peace over-
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The escrow system is something you get for free being on the Road. ;)
It works like followed: You order something; send you encrypted receiving address to the seller; confirm you order; the amount of BTCs you have to spend for the gear is frozen/hold in the SR system; you receive your order (YIIIPPPIE); you release your BTCs to the seller. Everybody is happy :)
Hope I could help
And never never ever Finalize Early (like release your BTC before you get the gear)
-Peace over-
Couldn't have said it better myself, especially the last bit. No matter how tempting it is only FE if you are willing to be scammed.
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Good description posts above me , and in a more simple way , Its a middle man you can trust that has no interst on fucking any of the sides.
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so dont forget that the escrow system is a tool to make sure you dont get scammed. there have been some scammer vendors asking you to release your funds early i.E FE or finalize early. the escrow system allows you to go to a resolution center after 17days, in case your order doesn´t arrive. then you can request a refund if the package doesn´t arrive.
some well established (300+ .90) vendors can ask for FE on the escrow because they have established credebility by having made a large amount of succesful transactions.
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it works good imho
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Stay in escrow. Never finalize early. . Look around for vendors that work with newbies. Do your homework and check all the reviews in the forum on the vendors you want to purchase from.
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Escrow is the only way to go!!
I have never been asked to FE. Just use vendors who don't.
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stupid question, but what does FE stand for?
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finallzing early , which means u release the money to the selller without escrow
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These are my stats as of today Januarty 26th
Total transactions: 57
Total spent: $18117.19
Refund rate: 0%
Auto-finalize rate: 2.87%
Member for: 2 months
When you first start in SR you have to take a Leap of Faith, you dont know if your product will be good or if the vendor will actually ship your drugs. You have to take a leap of faith, its like when you buy street drugs and you dont know the dealer that well, or if his products are as what he advertises, we had to go through those who at a young age started getting drugs from street dealers.
Lucky for me on SR i have never been scammed, I only went to resolution center twice so far, but just to extend due dates because of christmas delays.
When i first started, lucky for me i found trusted vendors who i had to FE with, none of them scammed me. There was only 1 order that it never got to me 1g of MDMA, but that was when i first started 2 months ago, and i was like a kid with a new toy with SR, so i ordered a lot of shit from different vendors and sometimes the same stuff, so i got some MDMA, but there was only one package missing of MDMA but i will never know whose package was, because they all were from the same country , haha.
Nowdays, im not required to FE by most vendors and we remain in ESCROW , and i even FE sometimes with my favourite vendors even though im not required to do so.
My tips for SR are:
1. Always stay in ESCROW whenever possible.
2. If you find quality vendors STICK with them, you dont want to use a new vendors whose stealth packaging methods are not known for you, they can fuck up bigtime and flag your address forever. Which could lead to packages not arriving to you from your quality vendors!
3. Dont trust ANY of the bitcoins threads that have been around the forums lately, because they are all scammers.
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stupid question, but what does FE stand for?
Finalizing early, essentially you give your money to them in trust that they will deliver the goods. Its tough to find non FE-ing vendors at first due to our low stats, but if you have to, find one who has a 95+ Approval rating with over 300+ transactions. They have proven themselves much more than other random people. Still, try to avoid it period if at all possible.
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Any time you buy you are automatically in escrow. Unless you finalize. Don't finalize before you receive your order, be safe!
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escrow works
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The Escrow system seems to work so well due to the reliance on feedback from both buyers and selelrs.