TradeRoute Multi-Signature and You!

Hello my friends, it would seem to me that many people are having a hard time setting up Multi-signature. Many people seem to want to just rely on Escrow and that is fine and all but vendors including myself are shying away from using any Escrow at all.

It seems that many buyers are not aware of how to actually set up Multi-signature to enable buying. So I will give a quick and simple guide on how to get it done, long dick style my friends!

Here we go:

Firstly, you will want to go ahead and get Electrum downloaded and create a regular wallet, if you already haven't.

Once downloaded and set up go ahead and login to your TradeRoute account and go to your account by clicking on the Account tab. Scroll down and go to the Multi-signature Control Panel section.

Take note of the Bitcoin Address field & the Bitcoin Public Key field, this is where your Electrum wallet will come into play.

Go back to your Electrum wallet and click on the Addresses tab. Choose any of the addresses that you have(left-click to highlight it).

Once highlighted, right click and a few options will come up. You will see Public Keys and Private key.

Click on Public keys(Make sure not to choose your Private key), and copy the long line of jumbled up letters and numbers it provides.

Go back to your TradeRoute account and in the Bitcoin Public Key field you will paste that line of jumbled up letters and numbers.

As for the Bitcoin Withdrawal Address, you will right-click and copy the address you chose the Public Key from and paste it in the Bitcoin Withdrawal Address field and SAVE.

You my friend are now done.


Comments


[6 Points] Pelican_Vendor:

How about the fact that once a customer buys something with multisig the coin goes to TR who then takes their fee. After they take their fee it goes into a multisig wallet. But oh wait guess what they control the wallet because you send them money to remove a fee. So essentially isn't TR multisig setup just like hansa where the market can take your money?

Correct me if I am wrong I am going off what I was told.


[2 Points] Nandy-bear:

I've never used multisig so I apologise if this is a stupid question:

Because the funds are withdrawn into your personal wallet, what stops LE from building up a database of confirmed vendor wallets ?

ie. they buy a product on purpose, from their wallet, and see the transaction out, and which wallet it goes into. Don't they then have a trail to follow ? Or does multisig not work like that ?


[2 Points] _PrinterPam_:

Sorry, but all of these multisig implementations are little more than marketing ploys. It might as well be plain escrow since funds still won't be able to be accessed for quite a while and if the market is busted...we won't see a dime. If the market wants to run off with the funds...they can. Hansa claimed they had a "dead man's trigger" but that was a marketing ploy as well. Zero technical details about the implementation were ever given and I'll bet the money I had sitting in multisig (when it went down) that I'll never see the money sitting in multisig. ;)

I'm not saying MS can't be done properly, but we may as well give up on it. Vendors: Offer escrow and withdraw your funds at least daily. Buyers: Don't deposit more than you need for a single purchase and consider only doing business with vendors who offer escrow. Apart from that, everyone should realize that you cannot reduce the risk to zero.


[1 Points] mrfloridamolly99:

Thank you for bringing this up OC !! This is very important that either people don't understand enough or care about for some odd reason.

I made a thread about it here last night after I had to play with my multisig to put an order in ;)


[1 Points] opiateconnect_:

I made this post for those having trouble setting up Multi-Signature and it has become something else.


[1 Points] shadobanndis:

It def is a bit confusing but electrm has legit faq but u made it easy!


[1 Points] tru_teller:

Hey u/opiateconnect_ I sent you an email and hit you up on xmpp the email I use was 666 one I think proton one. Let me know if there is an easier way to reach you.


[1 Points] Rawnii:

The problem isn't setting up Multi-sig. Once payment is sent just gets 0 confirmations and it ends up just going to the escrow....??


[1 Points] flawdaessay:

Ive already set it up, i actuly ordered a 500 pack with the multisig, and now i ordered a kpack, just waiting for you to mark it ship :)


[1 Points] thegrandlvlr:

Placed an order w multisig yesterday, hoping you accepts it soon