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> Mugging is an easy one, meet in public. That doesn't quite solve the problem. Who is holding the cash when the "send" button is pressed? If it's the bitcoin
by tromp 9y ago
> Mugging is an easy one, meet in public.
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...
- WingH 9y agoIs there such a thing 'escrow as a service' in face to face transactions?
- bluesroo 9y agoAlthough 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.
- hndamien 9y agoYes. Localbitcoins does escrow.
- ghthor 9y agoLocalethereum 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.
- d0lph 9y agoReputation 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.