Transaction

j"1LAnZuoQdcKCkpDBKQMCgziGMoPC4VQUckMJ<div class="post"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=645.msg6721#msg6721">Quote from: knightmb on July 30, 2010, 09:09:51 PM</a></div><div class="quote">Basically a specialized bitcoind that the buyer sends a payment to and when everything is good, the buyer sends a special "all clear" message to that server that then knows to "release" what it has to whoever it's suppose to go to.<br/><br/>Programming wise, should be possible with direct IP payments for example, where the "From" and "Comment" fields can be used to "reserve" the BTC until later.<br/><br/>One could send a transaction and in the comment field put something like "Escrow=&lt;public hash of seller&gt; Amount=1000.00 Release=&lt;some encrypted string&gt;".<br/><br/>When the buyer gets the stuff and he/she is happy, they send a 0.01 payment to the same escrow server "Escrow=&lt;public hash of seller&gt; Amount=1000.00 Release=&lt;some encrypted string&gt;" and the server sees the match, knows it's ok to send payment to that address, for that amount, etc.<br/><br/>Very doable from a programming standpoint.<br/></div><br/>kind of, the point of this system is that you can leverage the network for escrow transactions so long as everything goes to plan, thereby ensuring a low cost. in instances of dispute, you will pay a third party.</div> text/html