248 sats \ 4 replies \ @Tristan OP 9 Jan 2023
Hey everyone,
We have been working really hard, for the past year, on creating BitEscrow - formally known as LightningEscrow.
Our service is non-custodial, meaning that we do not hold onto your funds - but rather facilitate transactions using hash lock contracts. This also means that we do not require KYC.
In addition, BitEscrow is incredibly fast, with transactions being 130-190 times faster than fiat escrow, with future plans to support the Lightning Network. There will also be a full customer service suite to handle disputes.
We are scheduled to launch by the end of the year, with a fully functional website and API for wallets, marketplaces, and banks. This will be an important product for Bitcoin because it will introduce the concept of disputable Bitcoin transactions for buyers and sellers - similar to a credit card. We have also built parts of it on Nostr - to help us be the mediators of the contracts, and not the host.
Let us know if you have any questions, we will answer as many as we can.
reply
114 sats \ 1 reply \ @DarthCoin 9 Jan 2023
So now finally I can buy that coffee from El Salvador producers, with secured delivery 😂
We need a marketplace with producers from El Salvador, where people from around the world could buy with sats all kind of products and support those salvadoran producers.
reply
10 sats \ 0 replies \ @Tristan OP 9 Jan 2023
That would be great!
reply
31 sats \ 1 reply \ @nk1tz 9 Jan 2023
What do you mean "by the end of the year?" We are already in January. Do you mean to say you aren't going live with beta until Q4 2023?
reply
100 sats \ 0 replies \ @Tristan OP 9 Jan 2023
whoops, I meant by the end of the month! good catch
reply
123 sats \ 0 replies \ @kristapsk 9 Jan 2023
Can't find technical details how it actually works. It uses 2-of-3 multisig, like HodlHodl?
reply
11 sats \ 2 replies \ @supertestnet_phone 9 Jan 2023
Glad to see the new site is up! I look forward to trying it out. I lost money on a transaction recently that could have been recovered if the company used escrow.
reply
15 sats \ 1 reply \ @01xCc 9 Jan 2023
это очень просто. ты не трогаешь средства на свое кошельке допустим 10 лет... но при нарушении договора твой залог или страховка пропадает у него. все.... но если тыхочешь вернуть и страховку то тебе необходимо ждать 10 лет... ведь сумма очень сильно вырастит...
У меня скоро появится такой сервис. сначала он будет работать на кефире... этот блок чейн подойдет... и длительность срока не будет зависеть от времени...
reply
0 sats \ 0 replies \ @01xCc 9 Jan 2023
например... ты закладываешь одной транзакцией - 2 перевода. один на 1000 монет для страховки а другой на 50 000 монет для себя.. я тебе даю скажем 1000$ на 10 лет и ты не можешь трогать эти 50000 10 лет и получишь обратно 51000 монет. или просто вернешь 50000 себе а 1000 пбудет переведена с помощью смартконтракта на адрес выдовавшего тебе 1000$...
Так устроит???
reply
100 sats \ 0 replies \ @ThrillerX_ 9 Jan 2023
also have a post on thriller about it for visual readers:
https://www.thrillerbitcoin.com/lightningescrow-evolves-into-bitescrow-a-new-beginning/
reply
30 sats \ 1 reply \ @nerd2ninja 9 Jan 2023
Hmm I don't know. Should probably look to Bisq or hodl hodl for inspiration on this service model. They use 2/3 multisig between the buyer seller and escrow service.
reply
15 sats \ 0 replies \ @01xCc 9 Jan 2023
я уже исправил это! читай выше))
reply
0 sats \ 4 replies \ @tlindi 9 Jan 2023
Sounds nice idea - where I can get my "node client" to make sure my data is safe - cause isn't this same what bisq is doing already, @tristan?
Can U give pointer how you make escrow on LN non-custodial?
@k00b can I withdraw sats from bad post?
reply
10 sats \ 3 replies \ @k00b 9 Jan 2023
You mean take sats from a post you think is bad? No.
Always open to proposals for interesting "games" to play with incentives though.
reply
0 sats \ 2 replies \ @tlindi 9 Jan 2023
Yes - I think it would be more effective than "thumb down". With some limits thou.
Something like: I sent to comments 100sat so I can "downvote" original poster with 100sat If I please.
reply
0 sats \ 1 reply \ @k00b 9 Jan 2023
You mean you pay sats to downvote?
reply
1 sat \ 0 replies \ @tlindi 10 Jan 2023
Pay to good comments, and in exchange get downvote right.
reply