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This is actually how some Bitcoin transactions take place, on the white, grey, and black markets. People build a reputation for honesty as an escrow, take a sm
by rjbwork 10y ago
This is actually how some Bitcoin transactions take place, on the white, grey, and black markets. People build a reputation for honesty as an escrow, take a small fee, and facilitate transactions. They arbitrate disputes, and decide who to release the funds back to.
- fapjacks 10y agoHow hilarious, ironic, and fitting that dark markets operate more on a working platform of trust than friggin Ebay.
- hellweaver666 10y agoIsn't escrow basically the opposite of trust? If you trust someone you don't need a middle man to make sure everything goes well.
- soylentcola 10y agoI guess it's more the acceptance that buyer/seller is an adversarial relationship so you need to at least be able to trust the system or framework to be impartial and enforce honesty.
- dragonwriter 10y ago> Isn't escrow basically the opposite of trust? No, escrow is trust-as-a-service. That is, it's a means of removing the need for trust between the transaction principals by hiring a mutually-trusted third party.