j"1LAnZuoQdcKCkpDBKQMCgziGMoPC4VQUckMù<div class="post"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=750.msg8189#msg8189">Quote from: aceat64 on August 08, 2010, 02:55:59 AM</a></div><div class="quote"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=750.msg8148#msg8148">Quote from: jgarzik on August 07, 2010, 09:25:40 PM</a></div><div class="quote">Buyer not having recourse except burning the money will limit the utility, I think.<br/></div><br/>Perhaps we could work in a way to do arbitration. If both the buyer and seller agree, the money can be diverted to a 3rd party. That person could then arbitrate and either return the money to the buyer, give it to seller or steal it (obviously you'd want to choose a trustworthy arbitrator).<br/></div><br/>That's how online escrow operates today. Buyer and seller agree to let a 3rd party physically hold the money. Buyer and seller both agree to rules that the neutral 3rd party will follow, for transaction resolution / redemption. The neutral third party is the one who disburses funds to one party or the other.<br/><br/>This is a pretty decent overview: <a href="https://www.escrow.com/solutions/escrow/process.asp">https://www.escrow.com/solutions/escrow/process.asp</a><br/><br/><i>Some</i> people might choose to use the bitcoin-specific signed escrow method... but I think the "burn the money" recourse serves as a incentive to <i>avoid</i> bitcoin escrow entirely, rather than an incentive to use bitcoin escrow honestly.</div> text/html
https://whatsonchain.com/tx/f2b78cb2e9799b35ccb16d732e93d3da4cab65dee37a25d7a99224c4b6dc3ee5