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Solution To The Mediator Problem

 
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Dnote
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Post#1 Posted: 24 Jun 2014 03:48 pm    Post subject: Solution To The Mediator Problem Reply with quote

Start trading with BTC (Bitcoins). It's a crypto-currency. The transactions are NOT reversible.

For example:
Seller has a thread selling fg.
Buyer wants $20 worth, so he purchases $20 worth of BTC.
Now either trader can contact a Med. The Buyer sends the BTC to the Med. The Med informs the seller he has received the payment. The Seller now sends the fg to the Buyer. When the Buyer receives, the Med will release the BTC to the seller.

BTC are an EXTREMELY liquid currency. You can exchange it back into any fiat currency just as easily as you bought it.

This method of mediation can be used for all the problem trades the S&T is currently having. (accounts/fg/$$ trades)

What are Bitcoins? http://bitcoin.org/en/
How can I purchase them? https://localbitcoins.com/
Make sure you get a "wallet" to hold BTC to make trading possible.

Any questions just ask me!


Last edited by Dnote on 24 Jun 2014 07:05 pm; edited 1 time in total

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Post#2 Posted: 24 Jun 2014 03:51 pm    Post subject: Reply with quote

if you have btc, can you sell the btc vs money on paypal or how do you cash out?

Last edited by Dnote on 24 Jun 2014 03:55 pm; edited 2 times in total
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Post#3 Posted: 24 Jun 2014 03:55 pm    Post subject: Reply with quote

https://localbitcoins.com/buy_bitcoins
you can purchase BTC here, if you're trying to buy FG/acc/etc
you then would trade those for the fg/etc

if you're selling
you would have a wallet https://bitcoin.org/en/choose-your-wallet
and the btc would be sent to the med from the buyer. the seller would release the account or fg or w.e the agreed trade is. Then the med would release the btc to the seller - sending them to his wallet-


Last edited by Dnote on 24 Jun 2014 07:08 pm; edited 1 time in total

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Post#4 Posted: 24 Jun 2014 03:59 pm    Post subject: Reply with quote

you will need a program to use btc or use a site to make a btc acc ( but if the site get hacked .. you lose your btc ) , and udpate it ( like updates the net transactions before using it ) , personally i use "multibit" its a good one
people cant hack you btc since you have to send them thro ur computer , so they cant connect to your btc account from another computer
btw i am selling 25k for 170e btc worth which is AROUND 231$ , dnote can med the trade


Last edited by Qdol on 24 Jun 2014 03:59 pm; edited 2 times in total

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Post#5 Posted: 25 Jun 2014 01:20 pm    Post subject: Reply with quote

why would buyer ever send btc to med?

best way to do it is by escrow, where mediator never has access to the btc but controls when it gets released to 3rd party

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Post#6 Posted: 25 Jun 2014 04:45 pm    Post subject: Reply with quote

TiP wrote:
why would buyer ever send btc to med?

best way to do it is by escrow, where mediator never has access to the btc but controls when it gets released to 3rd party

mediator hold the btc while the fgs is being transfered ? unsure

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Post#7 Posted: 26 Jun 2014 11:18 am    Post subject: Reply with quote

Qdol wrote:
TiP wrote:
why would buyer ever send btc to med?

best way to do it is by escrow, where mediator never has access to the btc but controls when it gets released to 3rd party

mediator hold the btc while the fgs is being transfered ? unsure


there is no need for mediator to ever hold... bitcoin allows escrow charges

this means that it requires all 3 parties to accept otherwise it will not work, but the 3rd party never has access to the bitcoins themselves

this way 1 of 2 things can happen,

1) mediator can fail to do his duties, and money goes back to the original owner
2) mediator can approve and money automatically goes to seller

what it prevents is

1) mediator running away with your bitcoins

look up escrow transactions

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Post#8 Posted: 30 Jun 2014 04:30 am    Post subject: Reply with quote

TiP wrote:
Qdol wrote:
TiP wrote:
why would buyer ever send btc to med?

best way to do it is by escrow, where mediator never has access to the btc but controls when it gets released to 3rd party

mediator hold the btc while the fgs is being transfered ? unsure


there is no need for mediator to ever hold... bitcoin allows escrow charges

this means that it requires all 3 parties to accept otherwise it will not work, but the 3rd party never has access to the bitcoins themselves

this way 1 of 2 things can happen,

1) mediator can fail to do his duties, and money goes back to the original owner
2) mediator can approve and money automatically goes to seller

what it prevents is

1) mediator running away with your bitcoins

look up escrow transactions


okay... have you ever used the escrow service? how do you expect a trade to be made safely.. when the buyer/seller have no actual contact with the 3rd party, and the 3rd party has no idea they have an agreement. the only thing the escrow service is relevant for is when they buyer/seller tries to trade their btc into $ which can be done completely on their own behalf with no risk. aka the whole point of escrow.

i swear any time a btc post comes up you have to chime in with half truths and facts you struggle to understand.

i mean it's clear you don't even own btc. i'm not trying to be an asshole but your constant misguided facts are harmful to bitcoins integration to this site.


Last edited by Dnote on 30 Jun 2014 04:32 am; edited 1 time in total

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Post#9 Posted: 02 Jul 2014 07:13 am    Post subject: Reply with quote

well , if mediators are safe then the deal will be safe tip ..
if you think 100$+ is too much for a med to hold , u can do it in more than 1 transactions / use 2 med or 3 at a time ?

if a mediators scam , tramway should add up the amount he scammed in donors stars ..
if he scams 100$ then he gives u 100$ worth

anyway btc is safe

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Post#10 Posted: 03 Jul 2014 11:44 am    Post subject: Reply with quote

Dnote wrote:
TiP wrote:
Qdol wrote:
TiP wrote:
why would buyer ever send btc to med?

best way to do it is by escrow, where mediator never has access to the btc but controls when it gets released to 3rd party

mediator hold the btc while the fgs is being transfered ? unsure


there is no need for mediator to ever hold... bitcoin allows escrow charges

this means that it requires all 3 parties to accept otherwise it will not work, but the 3rd party never has access to the bitcoins themselves

this way 1 of 2 things can happen,

1) mediator can fail to do his duties, and money goes back to the original owner
2) mediator can approve and money automatically goes to seller

what it prevents is

1) mediator running away with your bitcoins

look up escrow transactions


okay... have you ever used the escrow service? how do you expect a trade to be made safely.. when the buyer/seller have no actual contact with the 3rd party, and the 3rd party has no idea they have an agreement. the only thing the escrow service is relevant for is when they buyer/seller tries to trade their btc into $ which can be done completely on their own behalf with no risk. aka the whole point of escrow.

i swear any time a btc post comes up you have to chime in with half truths and facts you struggle to understand.

i mean it's clear you don't even own btc. i'm not trying to be an asshole but your constant misguided facts are harmful to bitcoins integration to this site.


i know more about btc than anyone else on this site lol...

feel free to name a single "half truth" or any facts that i "struggle to understand"

you can still make an agreement with the third party, their part in the transaction is their private key which is required to sign the escrow transaction to go through, the only difference is they never receive bitcoins, if they fail to sign the escrow then the original owner keeps the bitcoin, if the trade goes properly then recipient gets the bitcoin

nothing i have said here was misguided, you are uninformed about bitcoin, and frankly given that you don't understand how escrow transactions work, you should not be giving advice to others on using bitcoin

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Post#11 Posted: 03 Jul 2014 11:53 am    Post subject: Reply with quote

Start using btc! People use it for drugdealing online and if that is an acceptable currency in the eyes of criminals it should be an acceptable currency for the whole world including d3jsp Dot org!
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Post#12 Posted: 03 Jul 2014 11:56 am    Post subject: Reply with quote

TiP wrote:
Dnote wrote:
TiP wrote:
Qdol wrote:
TiP wrote:
why would buyer ever send btc to med?

best way to do it is by escrow, where mediator never has access to the btc but controls when it gets released to 3rd party

mediator hold the btc while the fgs is being transfered ? unsure


there is no need for mediator to ever hold... bitcoin allows escrow charges

this means that it requires all 3 parties to accept otherwise it will not work, but the 3rd party never has access to the bitcoins themselves

this way 1 of 2 things can happen,

1) mediator can fail to do his duties, and money goes back to the original owner
2) mediator can approve and money automatically goes to seller

what it prevents is

1) mediator running away with your bitcoins

look up escrow transactions


okay... have you ever used the escrow service? how do you expect a trade to be made safely.. when the buyer/seller have no actual contact with the 3rd party, and the 3rd party has no idea they have an agreement. the only thing the escrow service is relevant for is when they buyer/seller tries to trade their btc into $ which can be done completely on their own behalf with no risk. aka the whole point of escrow.

i swear any time a btc post comes up you have to chime in with half truths and facts you struggle to understand.

i mean it's clear you don't even own btc. i'm not trying to be an asshole but your constant misguided facts are harmful to bitcoins integration to this site.


i know more about btc than anyone else on this site lol...

feel free to name a single "half truth" or any facts that i "struggle to understand"

you can still make an agreement with the third party, their part in the transaction is their private key which is required to sign the escrow transaction to go through, the only difference is they never receive bitcoins, if they fail to sign the escrow then the original owner keeps the bitcoin, if the trade goes properly then recipient gets the bitcoin

nothing i have said here was misguided, you are uninformed about bitcoin, and frankly given that you don't understand how escrow transactions work, you should not be giving advice to others on using bitcoin


escrow transaction sounds epic! briggrin

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Dnote
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Post#13 Posted: 03 Jul 2014 12:07 pm    Post subject: Reply with quote

I've used the escrow service before.
Clearly, you have not.

I suggest you purchase some btc (via escrow)

That is all.

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