Re:Bitcoin faces regulatory crackdown, Bank of England warns
by d0lph on Friday March 02, 2018 @02:41PM
(#16504922)
Reputation is currently how local bitcoins handles this. And also, the exchange could take drivers license info/do other verifications for e.g. what is currently done by coinbase.
Re:Bitcoin faces regulatory crackdown, Bank of England warns
by WingH on Friday March 02, 2018 @02:30PM
(#16504841)
Is there such a thing 'escrow as a service' in face to face transactions?
Re:Bitcoin faces regulatory crackdown, Bank of England warns
by bluesroo on Friday March 02, 2018 @03:01PM
(#16505152)
Although I don't think it's official, I know some police departments encourage community members to do Craigslist-type sales in their parking lots. It's not escrow, but I think you'd have to be very bold to steal something in view of police surveillance.
Re:Bitcoin faces regulatory crackdown, Bank of England warns
by ghthor on Saturday March 03, 2018 @02:19AM
(#16508314)
Localethereum provides escrow as a service, but for trading ether. I've had good success with them so far, but I haven't had a transaction yet that's had to go to dispute resolution.
That doesn't quite solve the problem. Who is holding the cash when the "send" button is pressed? If it's the bitcoin seller, then he can run away instead of hitting "send". And if it's the buyer, then he can run away the moment it's pressed. Sure, you may shout "stop the thief", but they're experienced in making a quick get-away...