3 ms·
It was not useless and worked very well because you had an arbiter. If I did not give the money to him, Local Bitcoins would release the escrow back. Indeed, re
by RealityVoid 6y ago
It was not useless and worked very well because you had an arbiter. If I did not give the money to him, Local Bitcoins would release the escrow back. Indeed, resolving a argument could get messy. But it worked well enough.
- noxer 6y agoThen you have third party so its no longer trust less and/or decentralized. Both parties need to fully trust the third party. Also the third party need to arbitrary choose in case of a dispute as it has absolutely no way to know which party is lying. There is no way to verify a cash transaction happened. This all just a acts as a negative incentive for scammers because cheating may or may not work and you likely are banned after the first dispute.
- randomopining 6y agoYeah exactly what I've been saying, as devils advocate. How do you transact btc for something physical safely? There's no legal recourse after the fact. At least with a car-cash exchange there is.