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.
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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.
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That would be great!
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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?
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whoops, I meant by the end of the month! good catch
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Can't find technical details how it actually works. It uses 2-of-3 multisig, like HodlHodl?
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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.
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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...
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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???
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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.
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я уже исправил это! читай выше))
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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?
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You mean take sats from a post you think is bad? No.
Always open to proposals for interesting "games" to play with incentives though.
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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.
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You mean you pay sats to downvote?
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Pay to good comments, and in exchange get downvote right.
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